I own five residential rental properties. Should I set up just one limited liability company to own these properties?
You should certainly have the real property titled in a company to avoid any personal liability issues. It is a good idea to have the real property owned by a separate company from your existing company. Setting up a new company to own the real property will insulate the interest in the building from any claims arising from your existing company, and similarly, will insulate assets in your existing company from any claims that may arise on the real property. You can have your existing company lease the real property from a new company that owns the real property.
Contact Jeff Workman of our firm. He can help you decide what is best for your situation.