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Updated over 4 years ago,
Property Management/LLC Banking Structure
Technical accounting question:
I hold nine SFR rentals - I have a Holding Co. LLC and an Operating Co. LLC. with an operating agreement between the two Technically, Hold Co. owns the properties, and Op Co. manages, although I need to do better at segregation of duties.,
I just signed up for basic Buildium and am trying to set up the banking structure (which should mirror what I "should" have been doing).
Can anyone speak to how the banking relationship should be set up for a "property management" company and its owner?
I am a CPA by trade so can handle the technical junk if anyone has ten minutes to spare for a phone call? I have done my research but have a few questions. Feel free to post but an in-person call is helpful.
Please DM and I'll give you my #. Happy to buy a social distance drink for those Tampa Bay area folks who can afford 10 minutes to hash out my issues.
Thanks in advance!