General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 2 months ago on . Most recent reply
Do we need to update existing leaseto an LLC if we move rental property to an LLC?
Hello, I have my rental property lease agreement with my name as a landlord. Now, I want to open an LLC and move the title to that LLC. My question is, do I need to update my name to LLc in the rental agreement and inform the tenants and property manager or continue as is with my name in the lease? Please advise. Thank you!
Most Popular Reply
Drew Sygit
#2 Managing Your Property Contributor
Property Manager
Agent
Pro Member
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
- 5,334
- Votes |
- 8,718
- Posts
Drew Sygit
#2 Managing Your Property Contributor
Property Manager
Agent
Pro Member
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Michael Anderson you have two options:
1) Create an Assignment of Lease from you to LLC
2) Have tenant sign new Lease with LLC.
Really only an issue if eviction or some other court issue.
- Drew Sygit
- [email protected]
- 248-209-6824
Logical Property Management.
1 Review
5.0 stars