[WSBARP] Renting a Basement ADU

[Craig Gourley]

Perhaps lease to the LLC and let the LLC sublease?

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________________________________
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> on behalf of Inge Fordham <inge at fordhamlegal.com>
Sent: Tuesday, February 22, 2022 10:48:17 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Renting a Basement ADU


Colleagues,



I have clients who built an ADU in the lower level of their home (they currently reside in the upper level).  They now want to form an LLC for purposes of leasing the ADU.  In the past, when I have assisted clients with forming of an LLC for purposes of renting a property, the property has been quit claimed into the name of the LLC and leased by the LLC.  These clients do not want to quit claim the property into the name of their new LLC.  They also do not want to form a condominium where there are separate units.  I have to imagine this issue is common and would appreciate advice from folks who are more experienced in this area.  Is it possible for these clients to lease out the ADU in the name of their LLC?  I should mention that they have a separate property management company as well.



Thanks in advance for any insight.



Best regards,





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Inge A. Fordham | Attorney

Fordham Law, PLLC

3218 Sixth Avenue | Tacoma, WA 98406

Office: (253) 348-2657 | Mobile: (206) 778-3131

www.fordhamlegal.com<http://www.fordhamlegal.com>



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