Owning property in personal name and having tenants pay LLC

[Jeremy Chaudet]

Hello,

I have one property in an LLC and the rest in my personal name. The property in the LLC happens to be managed by a property manager so they pay the LLC. The rent for the rest of my properties in my personal name are being paid directly to me.

Would there be any benefit to having all payments be paid directly to the LLC? I was thinking that this would at least help when I file my taxes and all payments are in one area. 

[Marcia Maynard]

Our LLC is our business entity, whether or not the property deed is in the name of the LLC or in our personal name is of little concern to us. (Some deeds are under our LLC name and some are under our personal names... for mortgage reasons.) We will still act in the name of the LLC and use a dba (doing business as) name of Fischer Properties for our interactions with our tenants. Therefore, the tenants know us as Fischer Properties and make payments to Fischer Properties. This is consistent with the entity name we have on the rental agreements... which is the name of the LLC dba Fischer Properties.

If I were you, I would list all your properties under your LLC and operate them under a business name. Talk with your professional tax preparer as to how this will impact the filing of your taxes. If you aren't already working with a tax professional (CPA or EA) then seek out the services of one.