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Updated over 8 years ago on . Most recent reply

User Stats

72
Posts
8
Votes
Oliver Martin
  • Las Vegas, NV
8
Votes |
72
Posts

LLC, Las Vegas, managing rental properties

Oliver Martin
  • Las Vegas, NV
Posted
So I finally formed an LLC. My plan was to quit claim 3 properties to the LLC. Those are the ones I plan to keep long term. Tenant to deposit payments to the LLC account. I will manage those properties and the LLC pays me. The LLC is taxed as an S Corp. This is what my accountant recommended. Now as a realtor here in Las Vegas, am I still allowed to manage those properties and receive payment since it's not in my name anymore? Since it's now owned by the LLC (which I have 100% ownership), do I need to get a property management permit? There's a 3 day class being offered here in Las Vegas that would make me eligible to sit for the exam. The certificate/permit will then be attached to my real estate salesman license. But I'm not sure if this is really necessary. Another option is to just keep the properties under my name for now. Main reason I wanted to move it into the LLC is to just add a layer of privacy. I will talk to my broker and/or call the division, and probably an attorney as well. But would like to hear first from folks here who have similar experience or could share some knowledge about this situation. Thanks in advance.

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