Re:The welfare effects of eviction policies
by _delirium on Tuesday November 02, 2021 @05:08PM
(#29087387)
It doesn't require it, no. Nonetheless, the majority of properties are professionally managed, so it is simply false that most landlords are small-time individual owners doing it themselves. If everything under "individual" and "LLC/LC/LP" ownership were small-time individuals doing it themselves as a family business, we'd expect to see closer to 78% of properties be self-managed, not 42%.
The rate of increase of professional management is also pretty high: the 2015 survey had 43% of properties professionally managed, which had risen to 54% by 2018. I'd be willing to bet it's more like 60%+ now as there's been quite a bit of buying into the rental market by large investors.
Re:The welfare effects of eviction policies
by nsxwolf on Tuesday November 02, 2021 @05:20PM
(#29087530)
A lot of small-time individual owners with single properties pay a management company a monthly fee to handle leases, maintenance calls, stuff like that. It saves a lot of headaches. Is that what you're considering "professionally managed"?
No, creating an LLC for your RE business does not require the use of a management service. The exact same individual landlords can own properties through LLC as without; the LLC just grants them some liability protection.