Finance Connection with Property Management

[Jonathan H.]

Hello, 

If I were to purchase a small rental (multi-family) that's currently using a Private Property Manager (instead of an actual PM company), what's the best way to implement the bank account structure? Given that the PM needs to deposit rent checks and also write checks for Property expenditures, do I need to set up another checking account with my bank, and provide the PM with access to this to adequately run the business?

Thanks,