planning on hiring a resident property manager for my small apartment building.
What type of paperwork do I need?
For many landlords, hiring a resident manager to handle
day-to-day details of your rental property has many benefits—not the least
being that an on-site manager will free you from many of the time-consuming
(and tiresome) aspects of landlording, such as dealing with late-night repair
requests. And in some states, you might not have a choice as to hiring a resident
manager. California, for example, requires a resident manager on the premises
of any apartment complex with 16 or more units. New York City has a similar
requirement for buildings with nine or more units.
But hiring a resident manager can mean some headaches, too,
such as lots of paperwork associated with the following tasks:
For detailed information on the
legal and practical issues of hiring a resident property manager, see Nolo’s
Landlord’s Legal Guide.