Setting Up Payment for Property Management

[Jonathan H.]

Hello, 

If I were to purchase a multi-family unit out-of-state (it's included in my LLC), I would want to have a Property manager for it. So, when it comes to bills like Property taxes, City fees, sewer, ect..how do I handle payment? Do I set up a separate bank account that the Property manager has access to - for depositing rent and paying bills?

Thanks!

[Catherine German]

Usually the property manager will pay the bills for you from the rents. If you need to add money to the account you just pay into their system, via an owner contribution to cover the cost of the bills.