Setting up a management company for your own rentals

[Chris Weiler]

I have a number of rentals under multiple LLC’s. Does anyone have experience setting up a separate entity to manage the properties? I heard 2nd hand from an attorney that we would need a broker’s license in the state of the properties to do this. Is this correct? It seems a little absurd that I would need a license to manage my own properties. The reason I was hoping to set up the management company was to avoid having to write multiple checks from all the LLC’s. For example, if I have a guy mow a few dozen lawns, it would be quite obnoxious to have to write him 10 separate checks per month. I figure if I have one management company, I could just write one check. Before I shell out more money to talk to another attorney does anyone have any practical experience, thoughts or recommendations?