Multiple self storage properties in same town...same LLC?

1 Reply

I have a self storage property titled in my name. My other general services LLC manages it. It is automated through a website and deposits into my general services LLC (S-corp) which makes a small lease payment to me personally.

If all goes as planned I should be the owner of 2 more self storage properties in the same town very soon.  I want the same website to manage them all under the same brand which means they'd all deposit into the same account (can't split it up running just the one automated site).  

How do I want to structure all these? My first thoughts are one holding LLC for the properties and then one operating LLC that takes the money. I'd pay minimal lease to the holding LLC just to cover taxes etc. I feel ok with one holding LLC for the three properties as they'd all be significantly leveraged. The operating LLC would have no substantial assets.

And to make it more fun, I live in NC and the three properties are in VA. Maybe that matters.

Thanks for any ideas.

I am not an attorney but we have a very similar portfolio and my brother in law is a real estate attorney. He has us in a series LLC which allows us to brand multiple facilities under the same parent company name but protect each asset individually. A little difficult to describe in depth here but I recommend asking a local attorney in your area about the possibility of creating a series LLC. Hope that helps!

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