LLC and Eviction in Chicago
Ignore the title of the post, please. I can't change it.
Hi,
As I research structuring, I have a few questions. Any help is greatly appreciated.
Assume a sole prop Owner moving property management to member managed LCC in Chicago. My wife and I will be the LLC member managers and property Owners. I'm not interested in discussing "liability protections" offered by LLCs, this is related to attorney involvement.
I can manage my own properties as sole prop, but what happens when the LLC is established in Illinois?
* Do I need a licence to manage my properties if I move management to my own LCC in Chicago, Illinois? If so, it seems I would need additional business insurance My personal umbrella may not cover a business.
* If I receive a city violation and want to contest it, can I attend the hearing or do I need to hire a lawyer?
* What if I face an eviction, do I need to hire a lawyer to represent me or can I do so?
* Are there any other hidden expenses related to management by having the LLC vs. sole prop?
Thanks,
Frank