Owner-oversight review of third-party property manager performance. Scores against the
PMA's service standards and the overlay's rubric, computes adherence metrics, flags
audit findings, produces the scorecard memo and the TPM-facing communication draft.
Runs monthly per property and quarterly per PMA. Material performance gaps and any
PMA amendment or termination are gated.
TPM scorecard rubric weights, benchmark sets, and SLA bands are overlay-driven. PMA
terms and audit escalation paths are PMA-specific; each PMA should have its own
overlay record.
Owner-oversight review of third-party property manager performance. Scores against the
PMA's service standards and the overlay's rubric, computes adherence metrics, flags
audit findings, produces the scorecard memo and the TPM-facing communication draft.
Runs monthly per property and quarterly per PMA. Material performance gaps and any
PMA amendment or termination are gated.
Third-Party Manager Scorecard Review
Workflow purpose
Hold the third-party manager accountable with a defensible, data-driven scorecard anchored to the PMA and the operating outcomes the owner expects. Surface material performance gaps early so remediation is an ordinary conversation rather than a rupture. Ensure every audit finding is tracked to resolution. Route PMA amendment or termination through the correct approval path.
This pack is flagship-depth. It is where ownership's oversight layer converts a TPM's operating output into an ownership-grade judgment. It is also where PMA integrity lives: service standards, reporting cadence, data quality, approval responsiveness, and audit posture.
Pull each TPM-managed property's monthly operating review and the corresponding asset management review. Both are inputs; the scorecard consumes, does not recompute.
Step 2. Report timeliness and data quality.
report_timeliness: share of required reports delivered on or before PMA due date.
kpi_completeness: share of PMA-required KPIs populated.
variance_explanation_completeness: share of material variances with explanations.
Each dimension scored per rubric overlay; missing or late reports are material gaps.
Step 3. Operating performance.
Property-level performance vs. market benchmark: tpm_collections_performance, tpm_turn_performance.
budget_adherence_tpm vs. controllable lines.
service_level_adherence against PMA SLAs (response times, lead times, entry-notice compliance).
staffing_vacancy_rate_tpm against PMA-approved roster.
Step 4. Oversight responsiveness.
approval_response_time_tpm: median days from TPM approval request to owner decision. This scorecard is bidirectional — owner-side delays show up here too. Owner-side median above overlay threshold flags owner-process review.
Step 5. Audit posture.
audit_issue_count_and_severity: open audit findings by severity; age of oldest critical finding.
Any critical finding open beyond overlay window is a scorecard red.
Fair-housing or compliance findings route per row 3 automatically and are surfaced in the scorecard without revealing confidential details.
Step 6. Scorecard composition.
Apply rubric weights; compute composite score per asset and per PMA. Surface top drivers up and down. Track trend over trailing 6 and 12 months.
Step 7. Material gap identification (decision point).
Yellow: one dimension below rubric band for one period; remediation plan requested, no approval.
Orange: two dimensions below rubric band, or one dimension below for two consecutive periods; remediation plan with explicit owner-side actions; approval_request for material action (overlay-governed; typically asset_manager + portfolio_manager).
Red: three or more dimensions below rubric band or any critical audit finding beyond window; approval_request row 19 path opens for PMA amendment or termination consideration with legal.
Step 8. TPM-facing communication.
Produce the communication draft with overlay tone and clear asks. draft_for_review. Never sent without owner-side approval.
Step 9. Quarterly PMA review.
At quarter end, produce the PMA-anniversary-aligned review with strategic view: PMA term, market context, contracted fees vs. performance, term and amendment history.
Step 10. Confidence banner.
Every reference cited with as_of_date and status. PMA-specific overlay as_of_date surfaced.
Branches
If the scorecard reveals a fair-housing or compliance finding in the TPM's operations: route immediately per row 3; the scorecard memo notes the flag but does not detail; counsel leads.
If the scorecard implies PMA fee structure misalignment: route as separate evaluation; do not bundle with operational remediation.
If the scorecard is red for two consecutive months: escalate to executive review; portfolio_manager + asset_manager + legal path opens row 19 for possible PMA change.
If the TPM is in the middle of a market-wide operating shock (e.g., a hurricane) that distorts metrics: note context, discount a dimension with explicit rationale, and consult overlay for force-majeure treatment.
PMA amendment proposed without legal. Fix: row 19 required.
Sample data as authoritative. Fix: confidence banner.
Edge cases
TPM managing in multiple markets: asset-level scorecards rolled to PMA-level for quarterly review; variance by market surfaced.
New PMA (first 3-6 months): rubric adjustments per overlay; ramp period defined.
PMA with incentive structure: tie scorecard dimensions to incentive KPIs per PMA; scorecard note explicit.
PMA renewal approaching: strategic review inputs to renewal decision; routes via workflows/owner_approval_routing if renewal decision needed.
TPM bought by another operator (M&A): scorecard pauses auto-actions; legal review.
Example invocations
"Run the monthly TPM scorecard for our Charlotte portfolio."
"Quarterly PMA review for PMA X; include strategic view."
"TPM Y missed report three times this quarter. Build the scorecard and the remediation plan."
Example outputs
Output — Monthly TPM scorecard (abridged, Charlotte portfolio, March 2026)
Report timeliness.report_timeliness within band for the quarter.
Data quality.kpi_completeness and variance_explanation_completeness within band.
Operating performance.tpm_collections_performance within band at benchmark. tpm_turn_performance slightly above benchmark (slower turns); yellow. budget_adherence_tpm within band.
Service levels.service_level_adherence within band.
Staffing.staffing_vacancy_rate_tpm one position above overlay threshold at one asset; yellow.
Oversight responsiveness.approval_response_time_tpm median within band. Owner-side responsiveness within band.
Audit posture.audit_issue_count_and_severity two low findings, no critical; both within overlay window.
Composite. Two yellows; overall within acceptable band. Remediation plan requested.
TPM-facing communication.draft_for_review; asks scoped to the two yellow dimensions.
Approvals. None this period. Remediation plan is an owner ask, not an approval.
