That makes your bookkeeping easier, and it can also provide liability protection if you hold title in an LLC.

Would like to be more hands off as well.

Processes have been set up to provide a degree of protection to parties  involved in subject to transactions.  

Do you know the markets you threw out really well? 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

My question is, do I need to send a non-renewal notice as well? 

To avoid a dispute, it’s crucial to add the trust or LLC as an additional insured on the policy.”This is a simple but crucial step to help protect your home.Please share this post with your family and friends to keep them informed.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

@Dawn MurrayI recommend you seek your own attorney in this as well - typically in these situations there is very little to go around but whoever gets the first lawsuit and judgment wins.

And as I explained earlier, your investment is protected by real property, so your risk is extremely low.