Rent Collecting with a Rental LLC Pyramid

[Anthony R.]

Let's assume the following

• In Ohio
• Each property is in an LLC
• Each LLC has a bank account
• All the LLC's are owned by a single parent LLC

If this above setup is what I put in place, can the tenants of each property pay rent to the parent LLC directly?

The reason I ask is that I don't want to have to take extra time each month to transfer the money out of each individual account into a single account so that I can pay bills, pay the mortgage, do repairs etc.

Is there a logical way to structure this or are the laws really this dumb? 

[Sylvia B.]

Here is my structure:

Parent LLC owns 4 other LLCs. All 12 of our houses are owned by LLC 1,2, & 3, which do NOT have bank accounts. LLC 4 collects all rent and pays all bills, but owns no RE.

Every month after bills are paid and reserve is set aside, LLC 4 transfers money to the bank account of the parent LLC. We then take an owner's draw from the parent LLC, which is a partnership.

This sounds much more complicated than it actually is. Parent LLC, #4, and our personal accounts are all at the same bank, so it is just an online transfer from one account to another. I have set it to do this automatically on the same day every month, so I don't actually have to do anything.