Apartment Syndication State Guides: Every State Guide in One Place
Syndicating an apartment deal follows the same federal rules everywhere, Regulation D and Form D, but most states add their own notice filing, fee and deadline for the investors who live there, and the deal company may need to register in the property's state. This page links every DoorRaise state guide, all 50 states and Washington, DC, in alphabetical order, plus the guides on Rule 506 notice filings and state fees that apply in every state. Start with the property's state, then check each state where your investors live.
Rule 506 notice filings and state fees
- Blue Sky Laws and State Notice Filings for Rule 506 Offerings: Blue sky laws are state securities rules. In a Rule 506 raise, states can't make you register, but most want a notice filing and fee. What to file.
- Blue Sky Fees for Reg D (Rule 506) Offerings: Every State's Fee: What each state charges for a Rule 506 (Reg D) blue sky notice filing: all 50 states, DC, Puerto Rico and the Virgin Islands, with late fees and sources.
- California Rule 506 Notice Filing: Form D, Deadline and Fee: How a sponsor files the California notice for a Rule 506 offering with the DFPI: the Form D copy, the 15-day deadline, the fee and the common mistakes.
- Florida Rule 506 Filing: Why There Is No Form D Notice, and What Still Applies: Florida asks for no Form D notice or fee for a Rule 506 offering. What still applies: the Florida 3-day right in PPMs, antifraud rules and dealer registration.
- New York Rule 506 Notice Filing: Fee, Deadline and Martin Act: Raising money from New York investors under Rule 506? The Form D notice on EFD, the $300 or $1,200 fee, the 15-day timing, amendments, renewal and the Martin Act.
- Texas Rule 506 Notice Filing: Deadline, Fee and Cap: How a sponsor files the Texas notice for a Rule 506 offering with the State Securities Board: the 15-day deadline, the 0.1% fee capped at $500 and amendments.
- Foreign Qualification: Registering Your Deal LLC in the Property's State: When a deal LLC formed in one state must register in the state where the apartment is: what foreign qualification is, the steps, costs and the risks of skipping it.
State guides, A to Z
- How to Syndicate an Apartment Deal in Alabama: A Sponsor Guide: Syndicating an Alabama apartment deal: the $300 Rule 506 notice, the LLC and business privilege tax, tenant rules and 20% property assessment.
- How to Syndicate an Apartment Deal in Alaska: A Sponsor Guide: Syndicating an Alaska apartment deal: the $600 Rule 506 notice, the LLC biennial report, tenant rules, no state income tax and borough property tax.
- How to Syndicate an Apartment Deal in Arizona: A Sponsor Guide: Syndicating an Arizona apartment deal: the $250 Rule 506 notice, the Arizona LLC or foreign registration, the 5 day tenant notice and the 5% yearly value cap.
- How to Syndicate an Apartment Deal in Arkansas: A Sponsor Guide: Syndicating an Arkansas apartment deal: the Rule 506 notice fee set by the amount offered, steep late fees, the LLC franchise tax and tenant rules.
- How to Syndicate an Apartment Deal in California: A Sponsor Guide: Syndicating a California apartment deal: the $300 Rule 506 notice, LLC fees and $800 tax, the rent cap and just cause rules, and Prop 13 change in control.
- How to Syndicate an Apartment Deal in Colorado: A Sponsor Guide: Syndicating a Colorado apartment deal: the $50 Rule 506 notice, the Colorado LLC or foreign registration, tenant protections and the odd year reassessment.
- How to Syndicate an Apartment Deal in Connecticut: A Sponsor Guide: Syndicating a Connecticut apartment deal: the $150 Rule 506 notice, the LLC annual report, the two-month deposit cap, conveyance taxes and revaluation.
- How to Syndicate an Apartment Deal in Delaware: A Sponsor Guide: Syndicating a Delaware apartment deal: the Rule 506 notice fee by amount offered, the $300 LLC tax, tenant rules and the 4% realty transfer tax.
- How to Syndicate an Apartment Deal in Florida: A Sponsor Guide: Syndicating a Florida apartment deal: no state Rule 506 notice, the Florida LLC or foreign registration, landlord rules and the property tax cap reset on a sale.
- How to Syndicate an Apartment Deal in Georgia: A Sponsor Guide: Syndicating a Georgia apartment deal: the $260 Rule 506 notice, the Georgia LLC or certificate of authority, dispossessory rules and yearly property assessment.
- How to Syndicate an Apartment Deal in Hawaii: A Sponsor Guide: Syndicating a Hawaii apartment deal: the $100 Rule 506 notice, the LLC report, tenant rules, general excise tax on rent and the conveyance tax.
- How to Syndicate an Apartment Deal in Idaho: A Sponsor Guide: Syndicating an Idaho apartment deal: the $50 Rule 506 notice, the free LLC annual report, tenant rules, yearly market value and a nondisclosure state.
- How to Syndicate an Apartment Deal in Illinois: A Sponsor Guide: Syndicating an Illinois apartment deal: the $100 Rule 506 notice, the LLC and annual report, Chicago's tenant ordinance, transfer taxes and Cook County.
- How to Syndicate an Apartment Deal in Indiana: A Sponsor Guide: Syndicating an Indiana apartment deal: the Rule 506 notice with no state fee, the Indiana LLC, tenant rules and the 2% property tax cap on rentals.
- How to Syndicate an Apartment Deal in Iowa: A Sponsor Guide: Syndicating an Iowa apartment deal: the $100 Rule 506 notice and $250 late fee, the LLC's biennial report, tenant rules and the transfer tax.
- How to Syndicate an Apartment Deal in Kansas: A Sponsor Guide: Syndicating a Kansas apartment deal: the Rule 506 notice with no fee, the LLC annual report, the one-month deposit cap, no transfer tax and the 11.5% assessment.
- How to Syndicate an Apartment Deal in Kentucky: A Sponsor Guide: Syndicating a Kentucky apartment deal: the $250 Rule 506 notice, the LLC and annual report, the LLET, local tenant rules and full value assessment.
- How to Syndicate an Apartment Deal in Louisiana: A Sponsor Guide: Syndicating a Louisiana apartment deal: the $300 Rule 506 notice, the LLC and annual report, civil law closings, tenant rules and insurance costs.
- How to Syndicate an Apartment Deal in Maine: A Sponsor Guide: Syndicating a Maine apartment deal: the $300 Rule 506 notice and $500 late fee, the LLC report, tenant rules, Portland rent control and transfer tax.
- How to Syndicate an Apartment Deal in Maryland: A Sponsor Guide: Syndicating a Maryland apartment deal: the $100 Rule 506 notice and late fee, the LLC's $300 annual report, county rent limits and transfer taxes.
- How to Syndicate an Apartment Deal in Massachusetts: A Sponsor Guide: Syndicating a Massachusetts apartment deal: the Rule 506 notice fee by size, the $500 LLC report, strict deposit and lead paint rules, and deed excise.
- How to Syndicate an Apartment Deal in Michigan: A Sponsor Guide: Syndicating a Michigan apartment deal: the $100 Rule 506 notice, the LLC and annual statement, tenant rules and taxable value that uncaps after a sale.
- How to Syndicate an Apartment Deal in Minnesota: A Sponsor Guide: Syndicating a Minnesota apartment deal: the Rule 506 notice fee up to $300, the LLC renewal, tenant rules, St. Paul rent stabilization and deed tax.
- How to Syndicate an Apartment Deal in Mississippi: A Sponsor Guide: Syndicating a Mississippi apartment deal: the $300 Rule 506 notice and large late fee, the free LLC annual report, tenant rules and 15% assessment.
- How to Syndicate an Apartment Deal in Missouri: A Sponsor Guide: Syndicating a Missouri apartment deal: the $100 Rule 506 notice and late fee, the Missouri LLC, tenant rules and odd-year property reassessment.
- How to Syndicate an Apartment Deal in Montana: A Sponsor Guide: Syndicating a Montana apartment deal: the Rule 506 notice fee that scales up to $800, the LLC annual report, deposit rules and no sales tax.
- How to Syndicate an Apartment Deal in Nebraska: A Sponsor Guide: Syndicating a Nebraska apartment deal: the $200 Rule 506 notice and late fee, the LLC's biennial report, tenant rules and the documentary stamp tax.
- How to Syndicate an Apartment Deal in Nevada: A Sponsor Guide: Syndicating a Nevada apartment deal: the $500 Rule 506 notice, the LLC's annual list and business license, tenant rules, tax abatement and transfer tax.
- How to Syndicate an Apartment Deal in New Hampshire: A Sponsor Guide: Syndicating a New Hampshire apartment deal: the $500 Rule 506 notice and late fees, the LLC report, tenant rules, transfer tax and business taxes.
- How to Syndicate an Apartment Deal in New Jersey: A Sponsor Guide: Syndicating a New Jersey apartment deal: the $750 Rule 506 notice, the LLC and annual report, local rent control, the Anti-Eviction Act and transfer fees.
- How to Syndicate an Apartment Deal in New Mexico: A Sponsor Guide: Syndicating a New Mexico apartment deal: the $350 Rule 506 notice and rising late fees, the LLC, tenant rules, the 3% value cap and no transfer tax.
- How to Syndicate an Apartment Deal in New York: A Sponsor Guide: Syndicating a New York apartment deal: the Rule 506 notice fee, LLC publication, the one-month deposit cap, rent stabilization and transfer tax.
- How to Syndicate an Apartment Deal in North Carolina: A Sponsor Guide: Syndicating a North Carolina apartment deal: the $350 Rule 506 notice, the NC LLC or certificate of authority, deposit and late fee limits, county revaluation.
- How to Syndicate an Apartment Deal in North Dakota: A Sponsor Guide: Syndicating a North Dakota apartment deal: the $100 Rule 506 notice and $250 late fee, the LLC report, tenant rules, no transfer tax and property tax.
- How to Syndicate an Apartment Deal in Ohio: A Sponsor Guide: Syndicating an Ohio apartment deal: the $100 Rule 506 notice, the Ohio LLC or foreign registration, tenant rules and school board valuation complaints.
- How to Syndicate an Apartment Deal in Oklahoma: A Sponsor Guide: Syndicating an Oklahoma apartment deal: the $250 Rule 506 notice and late fee, the LLC and annual certificate, tenant rules and the 5% value cap.
- How to Syndicate an Apartment Deal in Oregon: A Sponsor Guide: Syndicating an Oregon apartment deal: the $250 Rule 506 notice, the LLC and annual report, the statewide rent cap, just cause rules and Portland add-ons.
- How to Syndicate an Apartment Deal in Pennsylvania: A Sponsor Guide: Syndicating a Pennsylvania apartment deal: the $525 Rule 506 notice, the LLC and annual report, tenant rules and realty transfer tax at closing.
- How to Syndicate an Apartment Deal in Rhode Island: A Sponsor Guide: Syndicating a Rhode Island apartment deal: the $300 Rule 506 notice, the LLC report, tenant rules, the conveyance tax and commercial tax classes.
- How to Syndicate an Apartment Deal in South Carolina: A Sponsor Guide: Syndicating a South Carolina apartment deal: the $300 Rule 506 notice, the SC LLC or foreign registration, tenant notices and reassessment on sale.
- How to Syndicate an Apartment Deal in South Dakota: A Sponsor Guide: Syndicating a South Dakota apartment deal: the $250 Rule 506 notice and late fee, the LLC report, tenant rules, no income tax and the transfer fee.
- How to Syndicate an Apartment Deal in Tennessee: A Sponsor Guide: Syndicating a Tennessee apartment deal: the $500 Rule 506 notice, LLC fees per member, franchise and excise tax, and where the tenant act applies.
- How to Syndicate an Apartment Deal in Texas: A Sponsor Guide: Syndicating a Texas apartment deal: the 15-day Rule 506 notice and $500 cap, Texas LLC or foreign registration, franchise tax, tenant rules and appraisal values.
- How to Syndicate an Apartment Deal in Utah: A Sponsor Guide: Syndicating a Utah apartment deal: the Rule 506 notice ($0 or $100) and $500 late fee, the LLC renewal, tenant rules and the 45% residential exemption.
- How to Syndicate an Apartment Deal in Vermont: A Sponsor Guide: Syndicating a Vermont apartment deal: the $820 Rule 506 notice, the LLC report, tenant rules, the property transfer tax and the non-homestead tax rate.
- How to Syndicate an Apartment Deal in Virginia: A Sponsor Guide: Syndicating a Virginia apartment deal: the $250 Rule 506 notice and rising late fees, the LLC and annual fee, the VRLTA and recordation taxes.
- How to Syndicate an Apartment Deal in Washington State: A Sponsor Guide: Syndicating a Washington apartment deal: the $300 Rule 506 notice, the LLC and annual report, the statewide rent increase cap and graduated excise tax.
- How to Syndicate an Apartment Deal in Washington, DC: A Sponsor Guide: Syndicating a DC apartment deal: the $250 Rule 506 notice and new yearly renewal, rent stabilization, TOPA tenant purchase rights and DC taxes.
- How to Syndicate an Apartment Deal in West Virginia: A Sponsor Guide: Syndicating a West Virginia apartment deal: the $125 Rule 506 notice and steep late fee, the LLC report, tenant rules, 60% assessment and transfer tax.
- How to Syndicate an Apartment Deal in Wisconsin: A Sponsor Guide: Syndicating a Wisconsin apartment deal: the $200 Rule 506 notice and late fee, the LLC and annual report, ATCP 134 tenant rules and the transfer fee.
- How to Syndicate an Apartment Deal in Wyoming: A Sponsor Guide: Syndicating a Wyoming apartment deal: the $200 Rule 506 notice, the LLC annual license tax, no state income tax, deposit rules and property tax.
How DoorRaise fits in
DoorRaise helps sponsors raise equity for apartment buildings with 5 or more units from their friends and followers, and runs the investor side after closing: quarterly distributions from the deal's bank account, investor updates and K-1 delivery. The deal's accountant prepares the K-1s; DoorRaise delivers them. DoorRaise also forms the deal's LLC, prepares the offering documents, files Form D and verifies every investor's accreditation, in 506(b) and 506(c) deals. Investors fund by wire into escrow at Enterprise Bank & Trust. DoorRaise charges two flat fees: $1,500 to set up (non-refundable) and $5,000 a year for administration, the first year paid at closing from the money raised and only if the deal closes.
Pick your states in the launch wizard when you start your deal.
FAQ
Do I file in every state where my investors live?
For a Rule 506 offering, most states require a notice filing and fee from issuers that sell to their residents. Each state guide gives the details as of its date.
Do I have to register the deal LLC in the property's state?
Usually the LLC must be registered to do business where the property is, if it was formed in another state. See the guide on foreign qualification.
This article is general information, not legal, tax or investment advice. Each linked guide states the date its rules and figures are as of. DoorRaise is not a lender, law firm, broker-dealer, investment adviser or funding portal.