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Posts: 3
Reply with quote  #1 
Hi guys,
I am a new be on this forum.
I have been a landlord for about 10 years and have 2 rentals.
I have opened an LLC for each rental and both leases are in the name if LLC respectively.
1) Do you guys have business bank account for your rentals? Or how do you collect the rent?
2) Do you deed your property to that LLC? Does it complicate things if you have a mortgage on the property? Can a mortgage company throw a fit about it?
Thank you for your help

Posts: 507
Reply with quote  #2 
We have an operating account and an escrow account for the business (all deposits go to and from the escrow account).

Tenants pay rent to the LLC.

The LLC owns the property, not any individual.

Can't speak for the mortgage, you would have to ask your lender.
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