Managing an IRA owned property

Probably the easiest thing to do is to have your IRA admin hire a management company for you. Now obviously it can be the one you select on the terms you have agreed to but not signed beforehand. The management company will collect any rents, pay expenses, and of course deduct their fee. The rest will go into your IRA.

The other thing you can do is have any rents sent directly to your admin, and they can pay all of your expenses including utilities. Of course they will be a fee for this, but it shouldn’t be too bad considering most of them will be probably be put on a direct withdraw or bill pay system. This is a fee you should discuss when you shopping for an admin before you purchase the property.

You can then either have the checks mailed to you admin, or if you want be collect them you can. But you still have to have them made out to your IRA.