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How do I create an LLC for my rental property?

How do I create an LLC for my rental property?

  • If you already have an existing loan for a property under your name, contact your lender to see if they allow a title transfer to your LLC.  

  • See what requirements they have for allowing a title transfer.  

  • Choose an available business name.  

  • Fill out the Articles of Organization for your LLC, which state basic information about your LLC. Create an LLC Operating Agreement.  

  • Obtain licenses and permits if they are required for your business.  

  • Register your LLC with the state. You will turn in all formal documents to the state so they can register your business. There may be a filing fee.  

  • Transfer title to the LLC. This effectively transfers ownership from you to the LLC.  

  • Update your owner profile with 24k Property Management to make sure your annual 1099 is filed correctly.