I have been in the rental management Florida business for over a decade. Believe me when I say: no gets to learn the various aspects of this business without facing a series of 'gotchas'.
Naturally, the smartest move any landlord can make is hire a competent property manager. You have two options before you in this regard: either you can approach a large property management firm, or simply go to independent managers. Note that management companies might charge a bit more than independent managers, but you must do your homework in this matter.
Before signing a contract with either of the above, read the document thoroughly for any hidden fees. For example, they might be having a clause that says you need to get maintenance done only from their contractors or that you need to pay a markup fee or might not get the most competitive bid etc.
Furthermore, you must sit down and talk to the company as to what is actually included as a part of the service. This includes queries regarding utility bill payments etc which are often taken as extras.
Finally, do not forget to ask about how you will be paid each month. If your tenants pay them late; you will receive late payments too. Similarly, if you have multiple properties the company might wait to make payments until all your tenants have paid them.
All these are noteworthy points about property management.
