It’s not unusual at all, especially for absentee landlords. Indeed, it’s the usual arrangement for institutional real estate investors. After all, when you have real estate investment trusts and hedge funds buying up properties by the thousands and renting them out, the fund manager isn’t personally doing a walk-through of each individual property.
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Author Bio
Writing about personal finance and investments since 1999, Jason Van Steenwyk started as a reporter with Mutual Funds Magazine and served as editor of Investors’ Digest. He now publishes feature articles in many publications including Annuity Selling Guide, Bankrate.com, and more.