Landlord by proxy?

If you gave a broker [or anyone you implicitly trusted] a "Limited Power of Attorney for Real Estate" for that property with specific powers such as authorizing the agent/broker to

A] inspect the property,

B] Advertise the property and properly represent the property - showing the property; taking applications; screening applicants; properly investigating the applicants;

C]] sign the lease and other related documents, D] collecting all the applicable deposits and rents

E] manage the property by paying all the applicable taxes and services bills for repairs, the mortgage, etc.

F] You could also authorize that broker to sign any other agreements or sales contracts and totally represent you at closing/settlement/escrow for that property.

Fees for these srevices are not inexpensive.

Your challenge is finding the broker to properly represent you and your best interests.

Thanks for asking your Q! I enjoyed answering it!

VTY,

Ron Berue

Yes, that is my real last name!

Other answer was off. Yes, when you hire a management company you can give them any level of control over the property, even the right to sell it if they see fit.

Of course they will not assume responsibilities for vacancies or tenant damage, or wear and tear, repairs, maintenance, etc.

Have you met with a few realtors? Do so, get an idea of the price.

What could this rent for vs your monthly costs?

Also, read your condo rules, can you rent it out?

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You could hire someone to be your property manager. They wouldn't have the rights/responsibilities of landlord, but could keep an eye on things and stay in communication with you.