Family member wants me to manage some of her properties

09-07-2009, 11:40 PM

Summertime2 Summertime2 is offline

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Join Date: Sep 2007

Posts: 17

Family member wants me to manage some of her properties

What is the name of your state (only U.S. law)? Washington

A family member wants me to manage her duplex rental and 10 storage unit rentals. I would be the one who receives the payments, show empty units to potential renters, and be in charge of maintenance ect. I get to keep the money brought in by the storage units each month and will send her the rental checks from the duplex.

My husband thinks that we should start an LLC to protect ourselves from any mishaps and for business write~offs. The state of Washington requires all property management businesses to have a real estate license, which I do not have and do not want. I plan to manage only these 2 properties.

Family member also says I must pay taxes for the rental income I will be getting from the storage units.

Any suggestions would be helpful

Thank You!

Last edited by Summertime2; 09-08-2009 at 11:40 AM. Reason: add more information

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