HoldCo Complexities and Simplification

[Drew Petro]

Hey all, for those with multiple properties and a Holding Company structure, two questions that I am struggling with. We have 6 properties (5 self storage) and are looking to properly structure via a HoldCo. No investor groups or LPs involved, and we also have a property mgmt company that will most likely be outside of the HoldCo structure. With that said, do you have any input/tips/advice on the following:

1. Expense management - e.g. do we need 6 separate credit cards for each SubCo LLC? I mean if we double the portfolio and have 12 properties, carrying around 12 credit cards seems crazy ... ?

2. Can our external property management company (outside of HoldCo) collect revenue on behalf of each property? The goal would be to simplify check deposits to have all 6 accounts for collection under 1 Proeprty Management LLC and then electronically distribute the revenue for each property once per month (this in theory would save tons of time at the bank during deposit time).

Any other tips or tricks while we plan the HoldCo structure would be greatly appreciated! Thanks in advance for all input and insight!