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Updated about 4 years ago on . Most recent reply
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Long distance landlord - how do you pay the boots on the ground?
To the long distance landlords, Who is your "boots on the ground" person? What is your employment relationship with them? Are they a formal employee? Contractors? Vendors? Is there a way to structure the work to emanate the need to do all the employment taxes/benefits?
I've found myself in the position of needing half a property manager... I guess I could call it a "maintenance person". I bought a quadplex, put it under the only legitimate property manager in town, then ended up moving out of state. The property manager recently resigned.
In AZ, one has to be a licensed real estate agent to be a property manager and execute leases and stuff on my behalf. At least that's what the old PM told me. But I don't really need that. Technology lets me do all the leasing and collect payments electronically. So I really just need someone to hold the keys, put a lockbox out with a key when needed, walk the property once a month, and to help with tenant move in - move outs. All the vendors and stuff I have a handle on and can do it remotely.
It's probably going to be like $1800 worth of work or less a year.
What are your thoughts on the best way to handle this situation. Any advice is appreciated!