Should I have my renters pay me personally or have them pay into LLC

[Kayson Rogers]

I just got my personal house all renovated and am ready to get some tenants in my basement soon. I was just wondering if I should have them pay rent to me personally or pay my LLC?

[Savannah Wallace]

Hi Kayson, 

It is going to depend on your structure here.

If the LLC is the owner of the property, then have the tenants pay the LLC and deposit it in the LLC's bank account. If you are still the owner of the property but want the LLC to collect the rents, then you will need to enter into a management agreement with your LLC to allow the LLC to collect the rent for you as a management company.



Note: This information is for educational and informational purposes only and does not constitute legal, tax, or financial advice. No attorney-client, fiduciary, or professional relationship is established through this communication.