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Updated over 6 years ago on . Most recent reply

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Eric Uhls
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Renting property from your own LLC

Eric Uhls
Posted

Is it legal to transfer your property to an LLC you own, then have that LLC rent it to yourself?

The intent is to separate it from the payment (assume the lender will go along with it; i've talked to them, and they will), and put "rental" income on paper, so that it could be used by the LLC satisfy debt/income ratios to secure financing on another income producing property.

Can anybody cite code sections prohibiting this if so, or any relavant federal or Georgia statutes?

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Account Closed
  • Landlord
  • Seattle, WA
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Account Closed
  • Landlord
  • Seattle, WA
Replied

Nothing wrong with this. It is actually fairly common that real property is held separate from a business. You must claim the income in the LLC and can take the expense in the business.

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