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Updated almost 12 years ago,
What exactly does a property manager do?
I've read books and these forums, but all I really see about property managers is that they "take care of everything". So let's say I have a 6-unit multi-family, and hire a property manager.
What would I end up needing to take care of myself (e.g. taxes, LLC paperwork if I go that route)? Do they goes so far as to handle evictions?
And, how do the finances work? Does the tenant write out a check to them, or to me? If they get the checks, do they typically just deduct any expenses?
I'm (hopefully) in the last stages of deciding to go ahead with getting a multi-family, and want to get a better understanding of how the property management piece would work.
-Scott