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Updated over 8 years ago on . Most recent reply

How should my LLC manage and collect rent for personal properties
Hello BP friends,
I have just started an LLC and want to use it to manage and collect rents from tenants in my properties that are owned in my personal name. I need some accounting and legal insight on how to correctly do this to be sure that I am following the tax laws. I use an online property management software that can collect rents online and deposit them directly into my LLC's account. BUT the properties they live in are still owned in my name.
Any info would greatly be appreciated. Thanks!