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Updated about 8 years ago,

User Stats

24
Posts
2
Votes
Lauren M.
  • Investor
  • Shawnee Mission, KS
2
Votes |
24
Posts

Benefit of using PM name or business name for utilities

Lauren M.
  • Investor
  • Shawnee Mission, KS
Posted

I am in the process of firing our PM company. All utilities were set up in their name and they would deduct the bills from collected rent before paying me for the month. To gain more control, I decided to set up utilities in my name (unfortunately, right now we pay water, wastewater, gas and electric for tenants). What are the risks and/or benefits of setting up utilities in my personal name? I asked the utility company and I can put utilities under our business name (we haven't set up an LLC though), but I have to put down a fairly big deposit. When I asked the representative what the benefit would be to set up the accounts under our business name, she said I would have to talk to a lawyer. Thoughts?

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