"Property Manage" for A Relative
Hello BP,
I have a complex question I would love to get some insight on.
I live in Henderson/Las Vegas and my father has five SFR properties in Las Vegas he is overwhelmed with. Together we have developed a great system but long story short he wants to take a back seat and limit the face to face stuff. I would handle all tenant interaction and lease renewals.
I hold a real estate license and know I need to PM permit to manage others properties. Which I have ZERO interest in.
However, is there a family exemption? We would like to continue family operated. The property is held under a trust and his LLC runs the tenant show. My name is not tied to anything except as a trustee. We're not concerned with income or distribution of funds just want to be completely on the legal side of law.
Any input would be awesome!