Updated 11 months ago on . Most recent reply
Do we need to update existing leaseto an LLC if we move rental property to an LLC?
Hello, I have my rental property lease agreement with my name as a landlord. Now, I want to open an LLC and move the title to that LLC. My question is, do I need to update my name to LLc in the rental agreement and inform the tenants and property manager or continue as is with my name in the lease? Please advise. Thank you!
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Drew Sygit
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Drew Sygit
#2 All Forums Contributor
Agent
Property Manager
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- Royal Oak, MI
@Michael Anderson you have two options:
1) Create an Assignment of Lease from you to LLC
2) Have tenant sign new Lease with LLC.
Really only an issue if eviction or some other court issue.
- Drew Sygit
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