How to Syndicate an Apartment Deal in West Virginia: A Sponsor Guide
On this page
- What is the West Virginia Rule 506 notice filing?
- How do you form the deal LLC in West Virginia?
- What West Virginia landlord and tenant rules should a sponsor know?
- What does West Virginia charge when an apartment building sells?
- How does West Virginia property tax work for an apartment building?
- Does West Virginia tax the deal LLC or its investors?
- How DoorRaise fits in
- FAQ
To syndicate an apartment deal in West Virginia, you form the deal LLC (or register an outside LLC with the West Virginia Secretary of State), raise under Rule 506(b) or 506(c), and file a Form D notice with a $125 fee through NASAA's EFD within 15 days of your first West Virginia sale. The fee is low but the late fee is not: DoorRaise's state data lists $420 to $1,800 after 15 days.
This is the West Virginia version of our general syndication guide. It covers what changes when the building, the investors or both are in West Virginia. It is general information, not legal advice.
What is the West Virginia Rule 506 notice filing?
West Virginia treats Rule 506 interests as federal covered securities and asks for a notice: a copy of the SEC Form D and the fee, filed through the NASAA Electronic Filing Depository (EFD) for the Securities Commission of the West Virginia State Auditor. DoorRaise's state data, from NASAA's fee schedule, lists the fee as $125, and a late fee of $420 to $1,800 if the notice comes more than 15 days after the first sale in the state. EFD shows the exact amount before you pay, and that amount wins. See blue sky notice filings and blue sky fees by state.
How do you form the deal LLC in West Virginia?
A West Virginia LLC is formed by filing Articles of Organization with the West Virginia Secretary of State; the published fee is $100. Each year the LLC files an annual report, with a $25 fee, between January 1 and July 1. An LLC formed elsewhere that will own West Virginia property registers as a foreign LLC. Confirm fees with the Secretary of State before you file. See forming an LLC for a syndication and keeping the LLC in good standing.
What West Virginia landlord and tenant rules should a sponsor know?
West Virginia's landlord and tenant law is in Chapter 37 of the Code. A landlord returns the security deposit, or a written list of deductions, within 60 days after the tenancy ends, or within 45 days after a new tenant moves in, whichever comes first (W. Va. Code 37-6A-2). Eviction procedure runs through the magistrate court under Chapter 55, Article 3A. Your property manager should use West Virginia forms.
What does West Virginia charge when an apartment building sells?
West Virginia charges an excise tax on the deed of $1.10 per $500 of value to the state plus a county share, $3.30 per $1,000 in all in most counties, usually paid by the seller. Put your share in sources and uses.
How does West Virginia property tax work for an apartment building?
West Virginia assesses real property at 60% of its appraised value, and the tax rate depends on the property class and whether the building is inside a city. A sale gives the county assessor fresh evidence of value. Underwrite taxes from your purchase price times 60% and the rate for your building's class and location. See property tax reassessment in apartment underwriting.
Does West Virginia tax the deal LLC or its investors?
West Virginia taxes income earned in the state, and a pass through entity must generally withhold for nonresident owners or file a composite return. Ask your CPA early; the investor side is in state tax returns for nonresident syndication investors.
How DoorRaise fits in
DoorRaise helps sponsors raise equity for apartment buildings from their friends and followers under Rule 506(b) or 506(c), and verifies that every investor is accredited before they sign. Investors fund by wire into the deal's escrow account at Enterprise Bank & Trust. By default DoorRaise files the notice in the property's state; the first investor from another state pays that state's filing fee by card when they sign, later investors from that state pay nothing, and the sponsor never fronts it. Sponsors pay a $1,500 setup fee (non-refundable) and a flat $5,000 a year administration fee; see pricing or how it works.
FAQ
How much is the West Virginia Rule 506 notice fee?
$125, per NASAA's fee schedule. EFD shows the final amount before you pay.
What happens if the West Virginia notice is late?
DoorRaise's data lists a late fee of $420 to $1,800 after 15 days.
What does a West Virginia LLC pay each year?
A $25 annual report fee, due by July 1.
At what share of value is West Virginia real estate assessed?
60% of appraised value.
Sources
- West Virginia Securities Commission
- NASAA: Form D fee schedule
- West Virginia Secretary of State: business
- W. Va. Code 37-6A-2
- West Virginia State Tax Department: property tax
This article is general information as of November 2026, not legal, tax or investment advice. State laws and fees change: confirm with the state agency and your own attorney before you file. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.