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Updated 11 months ago,
How to structure lease with owner LLC and mgmt LLC
Hi everyone,
I've searched the archives but can't find an answer to what seems would be a common item - For residential leases where you have an LLC that owns the property and another LLC that manages that property, takes rent, does repairs etc., how do you structure the lease agreement. (There is an agreement in place between the 'Owner' LLC and the 'Management' LLC.)
I want to keep things as simple as possible so my questions are:
1) Can I simply make the agreement between the renter / Lessee and the Management LLC/Lessor or do I need to reference that the Management LLC is acting on behalf of the Owner LLC and state the name of that Owner LLC in the lease?
2) Can it simply be the 2 signatures > the renter / Lessee and the Management LLC/Lessor? If yes, do I need to reference that the Management LLC is signing on behalf of the Owner LLC or acting as agent for the Owner LLC in the signatures?
Thanks in advance for the help/insights!