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What does “manage everything” mean?
We following up regarding did they send us their deeds, etc.
We can be hired by the client for things like amending their structure, adding or removing properties, adding on an estate plan, etc.
WE DO NOT:
- Enter into leases with tenants if they have real properties in their structure
- Engage third party property managers, or set up rental collection directly from their tenants to their Traditional LLC
- Set up accounts for utilities for properties once moved into the structure
- Engage in rental collection and payment of expenses
- Prepare their Profit & Loss statements for their accountant
- Prepare meeting Minutes
- Pay any annual fees due to the state (sometimes via RLS filing their periodic report, sometimes separately/on their own - for example in CA they must pay annually and we are not responsible for that)
- Ensure their taxes are filed withe the federal (and state, if needed) governments
- Avoid commingling funds
- Ensure they have the appropriate insurance for their structure, including property insurance
- Sign their documents & return their signed/notarized deeds to us for any new pieces of their structure
- Evictions are additionally handled by the client or their 3rd party contractors.