Structuring owners & workspaces

The building blocks

Workspace

The private home for your portfolio, team, and billing — who can sign in and see the books. Switch between workspaces from the header.

Owner

A party that holds properties and files taxes — an LLC, an individual, a corporation, or a partnership. Each owner keeps its own books (chart of accounts + ledger).

Property → Unit

The buildings and homes an owner holds, and the rentable units inside them.

Lease ↔ Tenant

A lease ties a unit to its tenants, its rent, and its balance.

Owner types

An owner can take any of these legal forms. Pick the one that matches how the property is actually held and taxed — it's just a label today, but it's how Rentium will drive the right tax treatment later.

LLC

A limited liability company — the most common vehicle for holding rentals.

Individual(s)

Property held directly in one or more people's names rather than through an entity. This covers a single owner and ordinary direct co-ownership that is not treated as a partnership; qualifying spouses may each be treated as a sole proprietor.

C corporation

A property-holding company taxed as a C-corp.

S corporation

A company that has elected S-corp pass-through taxation.

General partnership

Two or more people (or entities) holding property together and filing a partnership return.

Other

Anything else — a trust, an estate, or a structure Rentium doesn't name yet.

One workspace, or one per LLC?

The workspace is your access boundary — everyone you invite to it sees every owner inside it. So the question is really about access and reporting:

Rule of thumb: default to a single workspace holding all of your owners. Reach for separate workspaces only when different people genuinely must not see each other's books — for example, unrelated co-investors. Accounts start with one workspace; contact support if a genuine access-separation need calls for another.

Common questions

Should I use one workspace per LLC, or one workspace for everything?

Use one workspace to hold several owners when you (or a small trusted team) manage everything and want portfolio-wide reporting across your LLCs — it's the simpler, more powerful default. Split into separate workspaces only when different people must be walled off from each other's books: a workspace is the access boundary, so everyone with access to a workspace can see every owner inside it. The trade-off: reporting across workspaces isn't possible — each is an island you switch between — whereas owners inside one workspace roll up together. Pricing is per workspace (by unit count), and accounts start with one workspace — a second one for a genuine access-separation need is a quick support ask.

Two people own a property together — what type of owner is that?

Co-ownership alone does not always make a partnership. Choose Individual(s) when the property is held directly in the co-owners' names and the rental is not treated as a partnership for federal tax purposes. This can include married couples who qualify as a qualified joint venture or under community-property rules; each spouse may be treated as a sole proprietor. Choose General partnership when the co-owners file a partnership return. Enter the joint legal name (for example, 'John & Jane Smith'). The deed and tax treatment control—Rentium's label does not make a tax election—so confirm the classification with your tax adviser.