If your condo is in good condition and you live close by, I think you can manage it yourself and not waste money or hiring a management company. I rent my condo out myself and can’t believe how clueless the management company is that manages another unit in the building..as in never following up on condo fees, notices to tenant etc. Hands down, the most important thing you can do is get the best tenant and then keep them. I could raise the rent several hundred dollars and get it but losing my good tenants is not worth it. Insist on an application fee and run a least a cursory credit check (the FULL check requires a whole other certification to do that) that confirms previous addresses. Actually call the reference. yes, these are hoops to jump through for you and a tenant but it helps weed out folks. Look for people with stable employment history too. I don’t know the MoCo laws but damn, DC makes it close to impossible to kick someone out in under 6 months even if they stop paying rent the entire time. I can’t tell you how important this step is in finding good tenants.