Property Managers

[Crystal Chang]

Hello Fellow Investors!

I just closed on a rental property in Austin, Texas about 3 weeks ago, and I have property manager in place already.

My question is:

1) What are some of the main things I should be aware of?

2) What checks and balances should I have in place to prevent unscrupulous managers from taking advantage of me (I am located in Southern California and I have a full-time job as an investment banker).

3) Because my rental is in a hot market, my property manager was able to rent it out in less than 2 days.  I have yet to see the contract but the tenants are paying.  Is it normal for the owner to see the contract between the PM and the tenant?

4) If anyone can provide me with their suggestions, I would highly appreciate it.  I'm more of a hands-on person, but because of my full-time job, I am not allowed to do so.

Thanks everyone in advance for their expertise,

Crystal