Question regarding LLCs for my rentals

[Daniel Chen]

Hello everyone,

I already setup a new LLC for several properties that was rented as our family investment property. I have not yet done with filing the quit claim deed but I talked to my lender and they are okay with it.

As I am doing this, can I start to ask my existing tenants to sign new leases with the LLC and make payments to the said LLC or do I need to wait till everything is done.

Thank you

[Kevin Sobilo]

@Daniel Chen, until the property is deeded over to the new entity the new entity can't do anything with regard to the property or tenants.

Also, as part of the property transfer, the existing deeds should be signed over to the new entity same as with any sale of a property. So, no new deeds need to be done until the existing deeds term has ended.