For real estate investors

One property, one wall around it

Serious investors hold each property in its own LLC, so a claim at one address cannot reach the rest of the portfolio or your personal assets. The structure is the easy part. Forming each entity, keeping its books separate, registering where the property sits, and filing every annual report is what eats the weekends. We run all of it.

Structure your portfolio See the isolation
An LLC per property Series LLC where it works Every report filed
Entities and compliance for landlords and investors Liability isolated per property Series LLC where recognized 4.9 from 8,200+ reviews Annual reports never missed
One per property
The structure that isolates each property's liability
Series LLC
Recognized in only some states, and we know exactly where
Separate books
Each entity needs its own account and records to hold the shield
0
States plus DC where we form, register, and file as your portfolio grows
The mistake that puts everything at risk

One claim should not reach the whole portfolio

When every property sits under your own name or a single LLC, a slip-and-fall at one address, an unhappy tenant, or a contractor dispute can put your entire portfolio, and often your personal assets, on the table. Investors who learn this the hard way usually learn it during a lawsuit, which is the worst possible time.

Holding each property in its own entity draws a wall around it, so a problem at one address stays at that address. We build the structure, keep each entity's books and banking separate the way the protection requires, and handle the ongoing filings that a portfolio of entities generates.

Everything in one basket
  • All properties under one name or LLC
  • One lawsuit reaches the whole portfolio
  • Personal assets exposed alongside them
  • Commingled books that weaken the shield
  • Annual reports missed across entities
Isolated on File.Business
  • Each property in its own entity
  • A claim contained to one address
  • Personal assets kept out of reach
  • Separate books and banking per entity
  • Every report filed across the portfolio
What happens when one tenant sues?

See how the structure contains the damage

The same lawsuit, two different structures. Switch how the portfolio is held and watch what the claim can reach.

A tenant at Maple Street files an injury claim.
Portfolio Holdings LLC
Maple StreetLLC
Oak AvenueLLC
Pine RoadLLC
Only Maple Street is exposed. Holding each property in its own LLC keeps Oak Avenue, Pine Road, and your personal assets out of the claim's reach.
This is a simplified illustration, not legal advice, and protection depends on keeping each entity's books and banking truly separate. We set the structure up correctly and keep it that way. See the series LLC option.
The whole investor setup

Everything a property portfolio needs, in one place

Entities, tax IDs, and the ongoing filings a portfolio generates, handled together.

LLC per property

A wall around each address

Series LLC

One master, protected cells

EIN per entity

A tax ID for each LLC

Registered agent

Required for every entity

Separate banking

An account per entity, to hold the shield

Foreign qualification

Register where the property sits

Operating agreements

Ownership and management, in writing

Portfolio dashboard

Every entity's status in one view
How your portfolio gets structured

From one property to a portfolio, protected

Five steps, in the right order. Select one to see the detail.

Step 1

Choose the structure for your portfolio

Depending on where you invest and how many properties you hold, that might be a separate LLC per property, a series LLC in a state that recognizes it, or a holding company over the property entities. We match the structure to your states and your plans.

Separate LLCs, a series LLC, or a holding structure.
Properties: 3
Structure chosen
Matched to your states
Step 2

Form each entity with its agent

We form the LLC for each property, or the master and its series, and appoint a registered agent for every one. Where privacy matters, we can form in a state that keeps ownership off the public record. State fees are passed through at cost.

An entity and a registered agent for every property.
Entities: FORMED
Registered agents active
Privacy where you want it
Step 3

Give each entity its EIN and bank account

The liability shield only holds if each entity is truly separate, so every LLC gets its own EIN and its own bank account. Rent in, expenses out, all per entity, never mixed with your personal money or another property's.

Separate banking per entity keeps the wall standing.
EIN: PER ENTITY
Bank account per LLC
No commingled funds
Step 4

Register where each property sits

An entity generally has to be registered in the state where its property is located, either by forming there or by foreign qualifying an entity formed elsewhere. We handle the registration so every property is held by an entity that is legally recognized in its state.

Formed in, or foreign qualified into, each property's state.
Property states: REGISTERED
Qualifications filed
Recognized where it matters
Step 5

Keep the whole portfolio compliant

Every entity has its own annual report, franchise filing, and registered-agent renewal, and across a portfolio that adds up fast. We track them all in one place and file on time, so the structure that protects you does not lapse into a costly mess.

Every entity's report and renewal in one dashboard.
Annual reports: TRACKED
Portfolio in one view
Nothing lapses
How this compares for an investor

Protection that stays maintained

The structure is only as good as the upkeep behind it. Here is the difference.

Capability File.Business DIY forms One big LLC Generic filer
Liability isolated per propertyIf done rightNot availablePer filing
Series LLC handled where validNot availableNot availableVaries
Separate EIN and banking per entityOn your ownNot availableAdd-on
Foreign qualification per property stateNot availableIf neededPer state
Every entity's reports trackedNot availableOne entityNot available
Transparent, published pricingPer filing

The honest version. Your real estate attorney and CPA are essential, for deal structure, financing, and strategies like a 1031 exchange or cost segregation, and nothing here is legal or tax advice. What File.Business does is form the entities, keep them separate, and carry the multi-entity compliance, so your advisors work on strategy instead of paperwork. Compare on the comparison hub.

BosAI for investors

An operator who knows the structure

Ask in plain English. BosAI knows entity isolation, the series LLC map, and multi-state property rules.

BosAIInvestor workspace, Cedar Holdings

I'm buying my fourth rental. Should it have its own LLC?

For isolation, yes. Its own LLC keeps a claim at that property from reaching your other three or your personal assets. If your investing state recognizes the series LLC, adding it as a new series can be cheaper than a stand-alone LLC while still walling it off. I can start either.

Is a series LLC a good idea for me?

It depends on your states. Series LLCs are recognized in places like Delaware, Texas, Nevada, Illinois, Tennessee, and Florida, but many states, including California and New York, do not recognize them, and their courts may not honor the internal walls. Two of your properties are in a recognizing state, so it could fit for those. See series LLC.

My new property is in another state. What do I file?

The entity that owns it needs to be recognized in that state, so you either form the LLC there or foreign qualify an existing one into it, plus a registered agent in that state. I have the qualification and agent ready to file, and added its annual report to your calendar.
From an investor who scaled

A claim at one door, and only that door

I used to hold six rentals in one LLC because forming six was a hassle. A tenant claim made me realize everything was exposed at once. File.Business restructured me into an entity per property, set up separate banking, and now files every annual report across the portfolio. When a dispute came up last year, it stayed with that one property. The rest of the portfolio never even came up.
Investor
Buy-and-hold rental portfolio
1 entity
per property, walled off
Separate
books and banking, per LLC
0
reports missed across the portfolio

Representative composite based on investor outcomes. Nothing here is legal or tax advice; consult your attorney and CPA for your situation.

Investor guides and tools

The series LLC, foreign qualifying, and the portfolio view

Practical resources for structuring a property portfolio. All free to read.

Guide

Series LLC

How it works, and the states that recognize it.

Read the guide Guide

Foreign qualification

Registering an entity where the property sits.

Read it Live tool

Portfolio dashboard

Every entity's compliance status in one view.

Open it Live tool

Compliance calendar

Annual reports and renewals across entities.

Open the calendar
For the questions investors actually ask

Straight answers on structure, states, and upkeep

Why hold each property in its own LLC?
To isolate liability. If each property sits in its own entity, a lawsuit or claim tied to one address is generally contained to that entity, rather than reaching your other properties or your personal assets. It is the main reason serious investors accept the extra entities, and we handle the formation and upkeep that come with them.
What is a series LLC, and where does it work?
A series LLC is a single master LLC that holds multiple protected series, or cells, each isolating its own assets, which can be cheaper than forming a separate LLC per property. It is recognized in states like Delaware, Texas, Nevada, Illinois, Tennessee, and, from mid-2026, Florida, but many states, including California and New York, do not recognize it, and their courts may not honor the internal walls. We tell you whether it fits your states. See series LLC.
Should I form in my state or in Delaware or Wyoming?
For real estate, an entity usually needs to be recognized in the state where the property is located, so many investors simply form there. Forming in Delaware or Wyoming and foreign qualifying into the property's state is an option, sometimes for privacy, since Wyoming, New Mexico, and Delaware can keep ownership off the public record. We weigh the tradeoffs for your situation. See foreign qualification.
What about my mortgage and the due-on-sale clause?
Moving a mortgaged property's title into an LLC can implicate the loan's due-on-sale clause, and the loan stays tied to the entity that holds title, so this is a conversation to have with your lender and attorney before transferring. We handle the entity work and flag the mortgage considerations, but the lender relationship is yours to manage.
Do I need separate bank accounts and books for each property?
Yes, and it is not optional if you want the protection to hold. Each entity or series needs its own bank account and its own records, with rent and expenses kept separate, because commingling funds is one of the main ways a court sets the liability shield aside. We set up the banking structure so it is clean from the start. See business banking.
Can my LLC be anonymous?
In some states, yes. Wyoming, New Mexico, and Delaware allow LLCs to be formed without listing the members on the public record, which many investors use for privacy. We can form in one of those states and foreign qualify into the property's state where that structure fits your goals.
How do I keep up with annual reports across many entities?
Each entity files its own annual report, franchise filing, and registered-agent renewal, and across a portfolio those deadlines pile up quickly. We track every one in a single dashboard and file them on time, so the structure that protects you does not quietly lapse. See the portfolio dashboard.
Does this replace my attorney or CPA?
No, and this is not legal or tax advice. Your attorney handles deal structure and complex asset protection, and your CPA handles strategies like a 1031 exchange or cost segregation. File.Business forms the entities, keeps them separate, and carries the multi-entity compliance, so your advisors focus on strategy. Talk to us.
One wall around every property

Protect the portfolio, not just the property

Structure each property in its own entity, keep the books and banking separate, and let us carry every registration and annual report across the portfolio. Start now, or talk with our team about your properties.

Structure your portfolio See the portfolio dashboard
SOC 2 Type II · Not a law firm · State fees passed through at cost