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Updated over 6 years ago on . Most recent reply

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21
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4
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Sanjeev Kaushik
  • Renton, WA
4
Votes |
21
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Rental property rent collection until moved to LLC

Sanjeev Kaushik
  • Renton, WA
Posted

When I purchased a rental property it was already tenanted and rent was flowing. After 3 months I moved (QC) this property to my LLC. Can I put rent in LLC bank account immediately after closing or I have to wait until QC Deed work is done? Is there any relation of bank account for rent collection (personal or LLC) and the name on the deed?

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1,055
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731
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Kenny Dahill
  • Investor
  • Tempe, AZ
731
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1,055
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Kenny Dahill
  • Investor
  • Tempe, AZ
Replied

@Sanjeev Kaushik, no.  To my knowledge, everything must eventually roll through the Recorders office.  I filed mine myself, you don't need an attorney.  Attorney's and CPA's are both capable of doing the paperwork and filing for you, although you need to sign unless they have Power of Attorney.

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