Rental Property Investor · Findlay, OH · Member since 2017 · 27 posts · 12 votes
Sorry for the botched title!
I own a couple rental properties in my personal name. I have an LLC (Single member self managed) I just started for general contracting/ renovations repairs for customers. I'm setting up Buildium and am trying to structure my leases, payments, and expenses through the business accounts.
Can I have the LLC designated as the Landlord and then sign on it's behalf even though the properties are in my personal name?
Any special considerations for expense reporting?
Also, I have dwelling policies on each of my properties in addition to an umbrella policy. Will assigning my LLC as landlord limit what these policies will cover me for?
Investor · Minneapolis, MN · Member since 2015 · 252 posts · 263 votes
8y
@Chris Karley, talk to the attorney / accountant. My 2 cents - as a property owner you don't want to be a landlord. Open a separate company, lease you properties to the company on the master lease, and have company lease it to tenants. This way you have a corporate shield between you and a tenant. Also have a separate entity for construction / flips as you get different tax treatment. Good luck.