Jen Thompson & Sam Powell
312 Consulting and Management
Licenced Real Estate Professional
165 N Canal Suite 1031
Chicago IL 60606
Cell: (312) 933-1261
Fax: (866) 630-5460
1 - family / friend in the area - if there is someone who is willing to step in and help you out who is local and able to be available should you need them to collect rent / get a plumber etc... You are likely to have the greatest opportunity for the least expense this route.
2 - local realtor - there are realtors who also offer property management services - typically charing 7-10% of the monthly rent to manage the process of taking care of the property while it is rented, securing new tenants as needed etc. Depending on how you want to handle the rental collection [recommend requiring your tenants to pay you via paypal so that the money is received quickly and easily transfered to your checking account for payment of your mortgage etc.]
3 - your third option would be to hire a property management company who's sole business model is to manage properties like yours. This is likely to be your most expensive route - and really depends on how hands on/off you need/want to be with the process.
I'd consider interviewing Evanston realtors who advertise that they can manage rental properties. There are likely several that focus a piece of their business in working with rentals and managing them on behalf of the owners [knowing that at some point they will become future business and want to sell.]
My suggestion would be to find a realtor close to your condo. If you're moving out of state you're going to want someone close. Someone in Florida may be alittle to far.