Corporate Manager Of Llc
Does an employee of a corporation, said corporation being the manager of a manager-managed llc, need a license to sign leases and do other property management tasks for llc-owned property? I believe the answer is "no", as a natural person named as llc manager wouldn't need one, but I wanted to make sure.
If you're doing PM for a fee in CA, then property managers must have a brokers license.
If you're the manager of a LLC, you need resolutions.
For day-to-day task If you don't mind the risk, you could give signature authority as part of the resolution
If I understand what you're asking about First, LLC having a manager of second, Inc.
And then 2nd signing for 1st?
If you're asking about a generic employee, not an oficer, then you'll need a resolution of the corp to empower the employee.
This of course if to keep it all clean.
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On 2004-06-08 21:03, cjmazur wrote:
If you're doing PM for a fee in CA, then property managers must have a brokers license.
No, I'm doing LLC management for a fee (or rather, my wholly owned corporation is). The LLC just happens to own real property
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If you're the manager of a LLC, you need resolutions.
No problem.
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If I understand what you're asking about First, LLC having a manager of second, Inc. And then 2nd signing for 1st?
That's correct. As I understand it, if the manager of "First LLC" were a natural person, they wouldn't need a license, so why would a corp manager need a licensed employee?
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If you're asking about a generic employee, not an oficer, then you'll need a resolution of the corp to empower the employee.
Easily done.
That's correct. As I understand it, if the manager of "First LLC" were a natural person, they wouldn't need a license, so why would a corp manager need a licensed employee?
I believe this is the case for LLC owned properties.
But now you're having a outside entity, whether manager or not manage the property.
The way it was explained to me is if you get paid to manage a property, you have to be licensed.
Is 5-10% that much to pay to not have the grief?
Why not have the LLC manage its own properties?
I
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On 2004-06-08 21:22, cjmazur wrote:
Why not have the LLC manage its own properties?
It is managing its own properties. The LLC signs the lease with the tenant. Who signs the lease for the LLC? The LLC's manager, in a manager-managed LLC. Who is that? The corporation. But corps can't sign for themselves, so who signs for the corporation? The employee (given authority by corporate resolution). Get it now?
what purpose does it serve?
Why have the corp do the prop management?
Why not just have an employee of the LLC do the management?
If you think that corps can't "sign for themselves", then neither can an LLC.
All corps have officers and officers are authorized to sign for the corp. There doesn't have to be an employee designated.
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On 2004-06-09 18:35, cjmazur wrote:
Why have the corp do the prop management? Why not just have an employee of the LLC do the management?
Compartmentalization of employment liability, primarily. Secondarily, centralization of administration, payroll, and benefits.
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If you think that corps can't "sign for themselves", then neither can an LLC.
Corporations can't sign for themselves because they're statutory people, not real people. They can certainly do business in their own name, by engaging agents e.g. real people to sign on the dotted line.
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All corps have officers and officers are authorized to sign for the corp. There doesn't have to be an employee designated.
If you want a non-officer employee to sign, they need explicit authorization.