Tips for when I become a PM for a friend?

[Nicholas Wielgos]

A good friend of mine owns a fully rented duplex but needs to move out of state. I've been studying/reading books about REI and following BP for quite some time now and will be buying my own property shortly, but this opportunity popped up to help a friend. I see it as a

What are the most important things for me to be aware of as I begin as a property manager for a friend? What ground rules will we need to discuss and sign contracts for so that this goes smoothly? I am very confident in my abilities, but I'm naturally worried an unexpected disagreement could cause tension in our relationship.

Thanks for the help!

[Rosa Regier]

Check your state as it may require a license to be a PM for someone other than yourself.