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Updated over 6 years ago,
Rent checks made out to Property Manager Co.? Or made out to Owner?
Hi all,
I've been scouring the archives to try and find this answer but I have yet to see it - I'm hiring a property manager for my out of state investments, so should I have my renters make checks out to the property manager / property management company name? Then once checks and cash are collected the property manager takes out their fee and sends me a check from the PM company for the remainder of the balance?
Or should I have the rent checks made out to me (the owner) and cash forwarded to me either in form of money order or check in the amount of cash from the PM company, and then I get billed and make a payment to the PM company for their services?
I don't mind doing either, I just want to make it as smooth and easy as possible each month so wanted to gather some input as to what you feel would be best.
Thanks!