In my experience, late payers often become non payers; so, I stick with the practice above.

@Gregory Banks I can offer some practical advice and referrals.

Tried other things but can't make anything better since it gives me space, allows me to prioritize and delegate, and is practically free.

I'm in a beach area where Sat to Sat rentals have been traditional for 100 years, but not any longer since the rise of Airbnb (and less control by local property management companies).

The story was she rented the place in the 1950's, under rent control then under rent stabilization laws.

However, if you bought it and managed it as a market rate apartment, your experience would be very different.My point is, I can control how fast a unit turns simply by adjusting my asking rents.  

Also, check if they have skin in the game (their own money invested), as it shows they’re confident in the deal and aligned with your interests.If you’re considering alternatives, REITs are fantastic for super-passive investors who want steady, low-effort returns—usually about 2 points above a savings account—but you lose tax benefits and control.

membership is something like APPL which is just non regulated group of private investors working on best practices but there is no authority behind them like  state license or NMLS registration has ..

The PM dropped the ball by not doing more to control the situation.To answer Jordan's original question:Do you think that is fair - to be forced to pay for your manager's mistake?

Letting go of control into passive investing and being a money investor makes me nervous.