LLC and landlords name on lease ?

5 Replies

Hey All, I have a basic question. The Landlords name apears on th lease but everyone says buy prpertIes In an LLC not In your name. So how can an LLC keep the LL anonymous and protected from being sued if your actual name is on the lease ? What keeps a lawyer from using that against you Thanks

If you want to keep the name of the LLC hidden from the tenant you would need a property management LLC that you would sign as the agent of. All business and leases would be in the name of the PM LLC and you would have a separate agreement between the owner LLC and the PM LLC. The separate agreement can be very simple but necessary in case ever needed in court. Plus, since you wouldn't sue yourself (because you own both LLCs) it doesn't need to be too complex. However if you go this route you have to set up the separate entities properly, with different names and an address that can't be traced to you. However if you were ever sued, any decent lawyer will be able to navigate through it all. This also has the added benefit of placing the liability on the PM LLC which doesnt have assets so there is nothing to collect if you were to lose a case. But most non-lawyer people wouldn't be able to find the name of the owner LLC.

Originally posted by @Peter M. :

If you want to keep the name of the LLC hidden from the tenant you would need a property management LLC that you would sign as the agent of. All business and leases would be in the name of the PM LLC and you would have a separate agreement between the owner LLC and the PM LLC. The separate agreement can be very simple but necessary in case ever needed in court. Plus, since you wouldn't sue yourself (because you own both LLCs) it doesn't need to be too complex. However if you go this route you have to set up the separate entities properly, with different names and an address that can't be traced to you. However if you were ever sued, any decent lawyer will be able to navigate through it all. This also has the added benefit of placing the liability on the PM LLC which doesnt have assets so there is nothing to collect if you were to lose a case. But most non-lawyer people wouldn't be able to find the name of the owner LLC.

Thanks