Partnerships are easier and less expensive to establish and maintain than an LLC. Taxes- While both entities benefit from pass-through taxation, LLCs have more flexibility because the owners can opt to be taxed as either an LLC or an S Corporation.
LCs can also possess other business entities, such as a partnership, corporation or other LLC. An LLC may also have foreign individuals and businesses as active owners, whereas a partnership cannot.
An LLC offers better liability protection and more tax flexibility than a partnership. But the type of business you're in, the management structure, and your state's laws may tip the scales toward partnership so you may wish to check with your state to see which is the best option for you.
In retrospect, it depends on what type of entity would suit your needs. You can research this and my suggestion is to go the legalzoom.com and speak to one of their experts and they can help set up your business entity. The cost for this service is well worth it especially if you have this type of a business/rental activity within your family.
@nourdives
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