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Updated over 2 years ago on . Most recent reply presented by

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276
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Grant Shipman
  • Rental Property Investor
  • Estes Park, CO
1,201
Votes |
276
Posts

Can I rent my car to my property management company?

Grant Shipman
  • Rental Property Investor
  • Estes Park, CO
Posted

Any attorneys or risk managers out there that have knowledge on this question?  I had an extra family car, that I want to be full time dedicated for use by my PMC staff. I know I could sell it and retitle it into my PMC, but I was interested in the rental option. 

  • Grant Shipman
  • Most Popular Reply

    User Stats

    276
    Posts
    1,201
    Votes
    Grant Shipman
    • Rental Property Investor
    • Estes Park, CO
    1,201
    Votes |
    276
    Posts
    Grant Shipman
    • Rental Property Investor
    • Estes Park, CO
    Replied

    Thanks everyone. It would be driven by my PMC staff (not me), so I'd like to 1) avoid retitling as is pricey in my state; 2) have my PMC benefit by having a vehicle fully dedicated to their operations; 3) treat my business like a business so to avoid "piercing the corporate veil". 

    does that answer your question @Michael Plaks- I'd love to hear what you think.  I appreciate you pointing out the tax wash. 

  • Grant Shipman
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