Regarding property management companies – particularly if it involves an out of state property:
Make sure when they send you their monthly invoice, that it is accompanied with the various receipts to support their invoice. Verify that they spent “x” amount on advertising, or gave tenant “x” a reduction on rent for whatever reason, or spent “x” on water damage/mold remediation. An absentee owner can get taken by an unscrupulous property manager if they don’t insist on the receipts. Might seem obvious, but I’ve seen property owners get screwed.
