Question about Managing Properties in Different States...?

[Michael Marquis]

Hello Everyone, 

I have a quick question about how to set up a company structure when dealing with managing properties in multiple states. 

I have a property management company established in Maine (where 90% of my rental portfolio will be managed). But I do have the opportunity to manage other properties located in Massachusetts and in New York. 

Do I need to establish a separate entity (LLC) in each state that I conduct property management services?

Or can I have the management under the umbrella of where my company was established in Maine? 

Not sure if anyone has managed properties in multiple states and the type of business structure. 

Thank you so much, 

Mike Marquis

[Brandon Hall]

Not sure of the answer to this exact question, but I am sure your accountant would be able to answer this question for you. 

However, it is my understanding that you can have an entity in whatever state you wish, and can conduct business in any other state. For example, the first LLC I established was in New Jersey, but I only own property in Maine. It was explained to me like this. Fedex has their corporation centralized in Tennessee, however, they still ship packages in Maine.

I hope this is helpful, I can provide a Maine accountant I use if you need some insights.