Do you know how to fix/solve this?

[Account Closed]

I've been working for a business partner as the property manager of his triplex. He's been paying me property management fees.

I'm proposing to him that rather than pay me property management fees, he allows me to be a 5% owner of the property. I will no longer collect property management fees from him and I'll continue managing the property. I'm wanting to practice ownership.

What form or document would we need to sign to make me a 5% owner? I want to make this very easy for him.

Thank you!

[Caleb Heimsoth]

@Ben Gabin why would the owner do this? His equity is properly worth more than the PM fees he gives you.

Also if you’re a part owner do you share in all the expenses of the property to?