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Updated about 4 years ago, 11/11/2020

User Stats

8
Posts
2
Votes
Lionel Church
  • Rental Property Investor
  • Killington, VT
2
Votes |
8
Posts

Should I use a business name for managing my personal property?

Lionel Church
  • Rental Property Investor
  • Killington, VT
Posted

Hello, Bigger Pockets community! Should I set up a DBA as a sole proprietor and open a separate business bank account for paying my mortgage and all property-related expenses?

I am in-contract for a multi-unit property in the state of Vermont and I am receiving residential financing. In order to run a professional operation, I would love to send all of my tenants documents as "Rental Property Business Name" rather than with my name. This is partly aesthetic but it also seems practical since I want to operate my real estate business as a professional.

Lastly, the bank has of course given me a residential property loan so even if I were to set up the DBA, my mortgage will be paid using through a personal account. It all seems like a lot to go through just to be able to write "Rental Property Business Name" at the top of documents for tenants... and I would love to hear from experienced real estate investors whether there is an easier way. Like should I just write "[Property Address] Management" on all documents in order to keep things simple with this single property that I'll own?

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