property manager part owner
I have a Property Management co. i have been using for the past 4 years, they have been great, but they were bought out this year and now the new owners have sent me new management agreements for all my properties, Garbage. I went through it and marked it up and it's now in an attorneys hands to write a new one. i have to negotiate with the PM co. yet but i am talking to another one in the mean time. my question is, if i brought someone on and made them a 10% partner in each business ( with no rights to the properties themselves), which would make them part owner of the co. my thought is they would be legally able to negotiate contracts and they would run the businesses side of the co. i see this as a way around them getting a broker license and they would not be considered an employee. that person can then do the same for other big investors in the area and make a decent living on it. anyone have any thoughts if this is a good idea or bad idea? or if i am looking at this wrong and legally can not do this?