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Updated about 6 years ago,

User Stats

15
Posts
1
Votes
Shiek Abdul-Hakeem
  • Rental Property Investor
  • Philadelphia, PA
1
Votes |
15
Posts

Best way to structure an operating agreement with family?

Shiek Abdul-Hakeem
  • Rental Property Investor
  • Philadelphia, PA
Posted

Hey everyone!

So I am a joint owner of a rental property with my siblings that we inherited when our mother passed. We're currently turning over the property and an issue came up where one of the siblings wants some money back from a repair they took care of years ago with our previous PM. This was a really good reminder that we need to put together some sort of operating agreement and some other policy paperwork as well but I'm not sure where the best place is to start or should we just get a lawyer? Would hiring a  lawyer be cost efficient for something like this? 

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