Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

4
Posts
0
Votes
Craig Thurman
  • Investor
  • Troutdale, OR
0
Votes |
4
Posts

Manage a rental for my Mother?

Craig Thurman
  • Investor
  • Troutdale, OR
Posted

My Mom has a single family rental property where we both live in Oregon and I would like to help save  her some money, starting this year, by managing her rental when I take over management of the 3 rentals my wife and I have. I am unsure if that is possible at all or if it depends on circumstances such as if I am compensated or if I have any ownership stake. I don't have ownership stake and I am happy to do it for little or no compensation. 

I am hoping for concrete answers if anyone has them. 

Thank you to anyone that takes the time to reply.

Most Popular Reply

User Stats

1,840
Posts
1,379
Votes
Frank Chin
  • Investor
  • Bayside, NY
1,379
Votes |
1,840
Posts
Frank Chin
  • Investor
  • Bayside, NY
Replied
Originally posted by @Nicole Heasley Beitenman:

My father manages my rentals without a license. I pay him 10%. I report my expenses and he reports his income on taxes. If it's illegal, no one has told us yet. He does not manage rentals for anyone else, and the properties are in my name without an LLC. I'm in Ohio.

 Depends on how you do it. I have a friend who's a realtor and uses a friend who manages his property. Manage Is a very vague and abused term, so he issues the payments calling it "janitorial services". Both payer and payee records the income and expense, and no license is required to be a janitor in this case, or as a messenger in my CPA's case.

Loading replies...