Posted by Gavin Wilkinson on April 06, 2006 at 17:24:07:
You have to have them make out the checks to the company. Then you need a company bank account to deposit them in.
You need to do more studying about LLC’s because if you mess up, the court can declare your company a sham, and declare you responsible in a lawsuit. And thats usually the reason the LLC was set up in the first place.
Transfering property to an LLC or not? - Posted by Charley Menendez
Posted by Charley Menendez on April 06, 2006 at 08:11:19:
I currently own a property, which I plan on renting. My question is: should I transfer the property to an LLC or something? If so, how? I am not sure if I should have the future tenants make the checks payable to me or another entity for security purposes. I don’t want the potential tenants to have a target for a possible suit.
Questions from a newbie,
Charley
Re: Transfering property to an LLC or not? - Posted by dutch
Posted by dutch on April 07, 2006 at 08:13:44:
The short answer is YES. NEVER do business in your own name if you can help it. Get Bronchick’s courses on asset protection, including how to set up LLC and Corps. They can be found at legalwiz.com or somewhere here on this site.