Property Management LLC

[Gina DiMasi]

Hey there, 

Looking for any and all advice regarding starting/operating a property management llc. 

Main concerns: 

1. Does my llc have to be in the same state as where my properties are if I don’t own the properties? 

2. Should I use a lawyer to start it or use other platforms such as legalzoom.com?

Thanks in advance! 

[Mike Taravella]

Hello @Gina DiMasi

Your LLC doesn't have to be in the same state as where your properties are. Many companies incorporate in Delaware due to the friendly corporate laws there. However, you may need to register in the states you do businesses in. I would recommend meeting with a tax accountant/lawyer to make sure you are properly registered.

When it comes to LLC paperwork, in Michigan, it is a one pager and a $50 fee. Then you would need to register for an EIN. It couldn't hurt to have a lawyer look at it but if you have something prepared it will be cheaper then having them draft it.

Hope this helps and let me know if you have any questions.

Thanks!