Registered Agent for Real Estate Investors
Doing business across state lines? You may need a Registered Agent.
It’s pretty common for real estate investors to use an LLC to protect their assets and streamline business operations. But what if you happen to live in a state that isn’t exactly friendly to small business? The quick and easy solution is to form an LLC in another state. This strategy can work brilliantly, but to remain within the law, you are required to name a person (or company) to act as your Registered Agent.
What Are Registered Agents?
Your registered agent is the person who is responsible for sending and receiving all of your company’s legal correspondence. If you have an out-of-state LLC, you are legally required to have a registered agent. This is your point person for business matters in the state where your company is formed who will be legally responsible for maintaining your LLC’s legal and tax documents.
Can I Be My Own Registered Agent?
Sometimes it is legally possible to serve as one’s own Registered Agent. But to do this you’d have to meet certain requirements, have a presence in the state, and be doing business in a state that allows you to be your own Registered Agent. Even if you can do it, it’s rarely a good idea. Using a professional is the smarter, and far more convenient, move.
The Royal Registered Agent Treatment
Using a law firm’s registered agent service has some obvious perks. You can be comfortable knowing we’re aware of the duties of registered agents, important deadlines, and the legal technicalities that are critical to doing the job well. With Royal Legal Solutions, you don’t have to worry.
Call to Action About Registered Agent Services
Tempted to Do it Yourself? Think Again.
By law, you are allowed to serve as your company’s Registered Agent. That’s the law. But unless you’re an attorney or a CPA, you really want to weigh this decision carefully. For starters, you need to be sure you can satisfy the requirements listed above. Keep in mind, residency alone can get tricky, especially if you’re splitting your time between states. But the bigger question is, are you able and willing to do this job for the long haul?If the idea of burrowing into the minutiae of your business’ legal correspondence and tax obligations doesn’t make you giddy with delight, you very likely won’t be able to perform the Registered Agent’s role competently throughout the life of your business. For this reason, the vast majority of successful real estate investors do not serve as their own Registered Agents—and they’re better off for it.
A Word of Caution: Don’t Skimp on the Registered Agent Requirement
If going it alone seems unwise and unsafe, you should know that not designating a Registered Agent at all is downright reckless. If you get caught operating out-of-state without a Registered Agent, you can expect a legal backlash that rivals the trials of Job. This onslaught may include anything from brutal fines to exclusion from the court system, which will make it very difficult (and illegal) to run your business. Some states may even pursue criminal charges.
Knowing this, would you really risk prison time to save the $45 to $95 it’ll cost you to designate a Registered Agent for each of your LLCs? Considering the value of your time as a real estate investor, this tiny, tax-deductible fee should be regarded more as a small investment in asset protection than a shrewd cost-cutting opportunity. There’s no sense in taking unnecessary risk. Let Royal Legal Solutions’ Registered Agent Service handle your business’s legal paperwork. We want to help you focus your efforts where they belong: on your business.
The Beauty of a Registered Agent Service
Peace of Mind
By assigning someone else—ideally, a professional—as your Registered Agent, you gain the peace of mind that comes from knowing another party is legally accountable for your LLC’s business and legal documentation.
Never Miss a Correspondence
Missed an important piece of mail because you were down with the flu? Not your problem; your Registered Agent handles that.
Our Registered Agent service handles your correspondence, letting you focus on your business.
Never Miss a Filing Deadline
Forgot a filing deadline because you were visiting a sick family member? Not your problem; your Registered Agent handles that too.
Slapped with a lawsuit? Your Registered Agent will alert you. Better yet, if your Registered Agent is an attorney, he or she is in the strongest position to respond quickly, professionally and dispassionately to arrive at the best outcome for you.
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