@Yuriy Tymoshenkotypically when you choose to use a PM company you will sign a contract with them and fill out W9 form for tax purposes and ACH form for direct deposit of rent monies into your bank account.

This time around I plan to tackle this one with a better approach and more knowledgable to help minimize some of the heart aches and mistakes that come with being a landlord (been there done that).

For instance our company collects rent from the 1st-5th (pretty standard), we start processing money as soon is it is available (depending on how a tenant paid it could take 4 business days for ACH/E check to process or 7-11 payment to come through) between we are typically finished paying owners by the 11th of the month (depending on where the days of the week fall).  

Also I know that there are people that are just bad property managers/owners who might be looking to sell to get rid of a head ache.

Ray,  If your going to be out of town, I would have best property mgmt. company in Miami find you a qualified tenant, and then give you security deposit and have them pay via bank deposit/ACH etc..You just paying them to locate you a tenant, and then you can take over and deal with tenant.

I would encourage you to move on.I have three SFR's in Indianapolis, and I have been pleased with my property manager, their systems (monthly reporting and ACH payments of rent), their responsiveness and the quality of the tenants they have found for me.  

The 3rd was good at the start and is now better due to my nagging and suggestions to help their business, like ACH.

You can setup ACH payments OR use some form of Bill Pay. 

My first incoming ACH rent payment bounced as account was closed due to zero balance.5> Renting: While you are looking for tenant, ask your agent to send the standard lease document upfront.

I’ve heard many people say to go with a property manager to avoid the head aches as well, but I appreciate your insight.