LLC for Property Management?

[Daniel T Stockman]

Hi Everyone! 

A couple of quick questions for the group!  

My wife and I will soon own 2 investment properties, in a college town. Both are in our personal names (large umbrella for coverage), and we are intending to self-manage them. What direction should we go for the "property management" part of things? Should we create an LLC for the management?

Are there any advantages to creating an LLC for property management on self-owned rentals?

Thanks,

Daniel

[Ronald Rohde]

Definitely think a LLC will help with liability and you'll have a different business to deduct expenses from. If you keep your properties in a personal name, at least the PM LLC can give you a "professional" appearance as well.