OK to setup a Corp/LLC to manage rental property that I own perso

[Gonzalo Cabrera]

Is it OK to setup a Corp/LLC to manage rental property that I own personally? I use this LLC to manage expenses and for tax purposes.

I currently have an LLC S corp to manage various residential rental properties that I own personally (deed is in my name). The owners of the Company are my wife and I (60/40). I use the LLC and associated bank account to deposit rent money from tenants (money is first deposited to my personal acct by tenant and lease is in my name). Basically the LLC is "headquarter" for expenses and taxes for all the rental properties. Should I setup a property management agreement with the LLC to be able to transfer money from my personal funds to LLC account so that the Company can manage all expenses from there?

Is there any benefit from the tax perspective doing the above? I thought it would be clean to have an LLC to file taxes on my rental properties and keep it separate from my personal tax return. I do have an umbrella insurance, so I do not care about the LLC liability benefits. Thanks in advance for your feedback.