If I had a property with a manager, what should I expect from them every month? I assume statements of some sort to start. Should they be providing anything else? What kinds of statements would they provide? What would be in them?
You want a check first of all! I'd be looking for revenue/expenses spreadsheet. I'm a bit anal, and would like to get copies of any bills they have. I know it is a bit overboard, but that is just me.
I've been doing some learning over the past few months and I've got the nswer to my own question now.
For paperwork, make sure you get a breakdown of income and expenses. You want to know what has been coming in, and what the management company is spending your money on. This will come in handy during tax season. I'm not getting other paperwork currently, but my manager is willing to send me copies of leases if I want. I've declined.
Working with a manager has really taken the heat off of me in the last few weeks. I'm all for promoting the use of managers!