How Do You Put a Manager/ Representative/ Agent Into Lease?

Question

My wife basically manages a few properties for family members who now live out of town. So when one comes up for rent, we are taking over advertising it, showing it to prospective tenants, selecting tenants, and so forth.

Things have not been very organized in the past, and we are working on a better lease agreement. A standard lease agreement would work, except it's likely to be my wife signing on behalf of the actual owner, rather than the actual owner himself (or herself).

How do we put this into a lease agreement - that my wife (or my wife and I) are signing and acting on behalf of the actual owner of the property?

Thanks!

Bill Gulley · Answer

I'd not do that, either you use the POA or you don't, it's not common practice here, mom and dad can always terminate a POA and it terminates upon death. I suggest the above post with all mentioned as landlord, as closer to what you might be looking for.....but why have mom and dad in a leasing position will they really be involved?

Wifey as POA dtd......for momname and/or dadname, individually or colletively, hereinafter landlord, ..... is about as far as I'd go on the lease.

With this, both need to do a POA. And, it should only be done by those in title, as shown on title.

Getting more involved you should pass it by your attorney.

Are these held personally by the parents? Do they have a trust? Might consider an LLC with wifey as manager too. You can transfer to an LLC as part of your estate planning especially with daughter and parents in the LLC.

'nough for me tonight.....  :)

John Woodman · Answer

Great. One final question:

Listing the landlord as

[Wifey Lastname as POA for Dad and/ or Mother Wifesmaidenname]

puts no restriction on either Wifey or her parents acting as landlord. Right?

Bill Gulley · Answer

Yep! Wifeylast name by POA dtd dd/mm/yy for folksname.

Yes, the POA must be notarized, they can sigh it where they are and mail it back, if the post office is still open...LOL

Your last post is fine. :)

John Woodman · Answer

Or is it:

This lease agreement, blah, blah, by and between:

[Wifey Lastname as POA for
      Dad and/ or Mother Wifesmaidenname]
(hereinafter referred to as "Landlord") and

[tenant]

?

John Woodman · Answer

Okay, this actually sounds reasonable simple and straightforward. It sounds like you just have the person sign a special power of attorney document (does such need to be notarized or anything, or just signed?) and then you sign your name "as POA for [owner name.]"

I presume in the lease contract you then put the actual owner name as landlord, and the only place you really need to put the manager's name is in the signature.

Like this?

This lease agreement, blah, blah, by and between:

[Dad and/ or Mother Wifesmaidenname]
(hereinafter referred to as "Landlord") and

[tenant]

blah, blah

signed:

Landlord:

Wifey Lastname as POA for
Dad and/ or Mother Wifesmaidenname

Is that about it?

Bill Gulley · Answer

Get a Specific Power of Attorney to lease it, put the lease in thier name and you sign it POA with the tenant.

Nothing needed, put the owner's name and yours as POA as landlord, copy the POA and attach it to the lease with a line for the tenant to acknowledge at the bottom if you like, then you sign the lease as landlord, followed by POA dated xx/dd/yy.

I think the closing companies have the  POAs, change it from sale to lease, and file it for record. With RE, it needs to be a Specific POA, not a General, listing the legal description.

That should get you through any eviction if necessary.

I'll try to make it at the next one, never been there, I'll help you with it if you can wait til then....  :) Let me know....

We did this in our family, out of town properties but still in Mo.

John Woodman · Answer

Yes, Bill, there is. I've been attending for several months now. If you need any details as to location & time, let me know.

It's to do with properties owned by my wife's immediate family members. Is there language we can put into the lease whereby she is representing the owner (parent or sibling) but the person representing that owner (my wife's parent or sibling) is my wife. Me too, if it's easy enough to do. Otherwise, just her.

Bill Gulley · Answer

Hi John, kinda depends on the family relationship, a distant cousin, you'll need to be a broker/agent, if it's mother, brither, sister, father ther is no problem.

Another way is to have them add you to the deed with a minor interest and an agreement to reassign upon request/demand. You can pull a management fee from the % of ownership.

Another way is to use electronic signature authority and have them sign documents.

The family can also hire you on an employee basis and give you a power of attorney to execute contracts.

I'm also understanding there is an REI meeting around here, might see you there!

Steve Babiak · Answer

Since you are in MO, Bill Gulley is also from MO and maybe he can better advise ...

John Woodman · Answer

(We are also involved in managing the properties and would of course like to also have the ability to throw out a tenant who breaks the conditions of the lease, etc.)