Rental Property Partnership LLC Operating Agreement
Budget: $30 – $250 USD
We are a 2-member LLC buying a rental property in the state of Georgia and have already incorporated. We need a standard operating agreement with the following provisions:
1) All decisions must be unanimous between both members
2) Both members are putting in 50% of the capital contribution, and any rent related proceeds are to be split 50% / 50% between the two members
3) If the property is sold Member 1 will get 80% of the sale proceeds and Member 2 will get 20%.
1) All decisions must be unanimous between both members
2) Both members are putting in 50% of the capital contribution, and any rent related proceeds are to be split 50% / 50% between the two members
3) If the property is sold Member 1 will get 80% of the sale proceeds and Member 2 will get 20%.