Deeding house to llc
We've deeded the house over to LLC. The concern is we're moving out of state, In De you have to have a property manager if you live out of state. I'm wondering if now that the house is in LLC, that means we no longer need a property manager since the DE LLC. owns it?
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@Domanique Huggins Being titled in an llc has no bearing on whether you need a property manager or not....it’s your decision. As an owner/member of the llc, you can co duct business on it’s behalf.
Quote from @Wayne Brooks:
@Domanique Huggins Being titled in an llc has no bearing on whether you need a property manager or not....it’s your decision. As an owner/member of the llc, you can co duct business on it’s behalf.
Thanks for the response! It’s not that the Llc has any bearing on needing a property manager. In Delaware, we are required to have a property manager if the owner lives out of state. We are moving to Texas, so we are supposed to have one. However, I’m wondering if because we’ve now put the home into a Llc starting in Delaware, are we still required to have a property manager? Or no because it’s in a Delaware Llc?
Hi Domanique,
You will need a Property Manager located in Delaware since you will be moving out of state. The city/county needs someone they can contact immediately to be present at the house in case of an emergency. Plus, they want to make sure a tenant has a point of contact with someone local. Unfortunately, they will not give you a rental permit without an in-state property manager.
Good Luck!
-Jessica Stiner
-
Property Manager DE (#RS-0019990) and Maryland (#660847)
- Ideal Property Solutions
Deeding to a LLC makes your property taxes jump as is a sale. Changing the delivery address to Texas sets off an alarm. Your rental permit changed information triggers them to check. Find a local property manager before you change the title, it's required https://delcode.delaware.gov/t...
Thank you for confirming! We do have a property manager we’re going with, we’re in the process of signing the contract. I was just wondering, so thank you so much for clarifying that for me!