What newbies need to look out for with Property Management

Question

So I've seen people post about how they have horror stories with bad property management companys in the past.  But as a newbie I haven't seen what to look for ?

I'm currently getting paid a few days late, doesn't seem like a big deal but I don't know...
This is my first rental and my first property management exposure.

Thanks

Bruce Michaud · Answer

I've only had minimal maintenance billed, so I don't have that worry yet.  Thanks Peggy, I will be sure to keep an eye on that.

Peggy Liu · Answer

Bruce Michaud  As long as it's in the contract and they are consistent with the payments on the 20th, then there's really nothing to worry about.  My management was terrible.  I had to ask over a span of several years to try to get receipts for things that I had paid for.

Bruce Michaud · Answer

Can't really say that I'm getting screwed, it was the agreement from the start, almost a year now.  
just really looking for the tell tale signs of bad managment company.
This is my only complaint with the one I have now.

Shuai Zeng · Answer

Maybe they have money problem??

Jason Reinke · Answer

My property manager sends me a check within 72 hours of rent being collected. I've already cashed my check for 5/1 rent. Why are you waiting until the 20th in the first place? I'm a bit new to the game, but I think you're getting screwed, Bruce.

Bruce Michaud · Answer

Yes, it's not the rent thats getting paid late....  Just me !
contract with property manager says they issue checks on the 20th.
last 2 months it's been very close to the 1st before I get a check.

To my untrained eye it looks like they are waiting for the current months rent checks to come in to cover last month...

but could be just me being paranoid

Ben Hughes · Answer

Do you charge a late fee?