Quote from @Nathan Gesner:
Quote from @Michael Anderson:
It is recommended that you change everything over to the LLC. You can do this with a simple, one-page addendum, or even a written statement added to the existing lease and signed by you and the tenant.
Example:
This lease agreement is hereby amended to reflect the change in ownership of the rental property located at 123 Straight Street, Cody, WY 82414. Effective December 1, 2024, ownership of the property has been transferred from Michael Anderson to Electric Sage Brush, a limited liability company.
All terms and conditions of this lease agreement remain in full effect, and all payments, notices, and correspondence should henceforth be directed to Electric Sage Brush LLC at the following address:
2001 Space Odyssey Dr, Cody, WY 82414
This change in ownership does not affect the tenant’s rights or obligations under the lease agreement.
All parties sign to confirm the change. Future documents will only name the LLC.
Thank you @Nathan Gesner, this is helpful, but I am not sure Tenants are so friendly and sign another document but can give a try, if they refuse to sign, what are my options? and there will be no change in any of the lease terms that's against tenants, just moving from my name to the LLC.Thank you!
