All Forum Posts by: Tom J.

Hi, have a few applicants, one of which is section 8. I was just wondering what provisions go into the lease in MA for Section 8 Renters? I know the leases are always for a year, but can you still charge for things like last months rent and a brokerage fee at signing? Thanks

Hi, have a few applicants, one of which is section 8. I was just wondering what provisions go into the lease in MA for Section 8 Renters? I know the leases are always for a year, but can you still charge for things like last months rent and a brokerage fee at signing? Thanks

Hi,

Can a broker in MA be a broker on record for multiple corporations?

Hi,

Can a broker in MA be a broker on record for multiple corporations?

Quote from @Nathan Gesner:

Quote from @Tom J.:

If you're managing for others, you have to be licensed. The State will have very specific laws about how you set up your accounts.

Hey Nathan,
Thanks for the reply, managing in Massachusetts so there are no broker requirements or guideline requirements here other than keeping security deposits separate.

Just looking for basic advice if I should have more than 1 LLC or not, and how other people set up their bank accounts.

Hi All,

Currently I am a Property Management Company with 20 units that I manage. At years end I will be forming an LLC and creating new contracts with the owners under the newly formed LLC.

My plan is to just have 1 LLC entity manage all the properties, with an operations bank account, and savings bank accounts for each security deposit we take in. I was curious to know if this is the right way to do it, or if I should have multiple LLC's and/or bank accounts?

Again, I do not own any of the properties, I am solely the management company that provides a service to the owners of the property.

Thanks for the help.