Landlord Question and Answer Forum
I have 4 rental properties. I am unincorporated. I have homeowners and liability insurance on each property. I understand the benefit of creating an LLC for the rental properties as a method of keeping my personal property safe. Is it necessary to create 1 LLC per rental property or can 1 LLC properly protect all 4 properties?
Jay S, SC on Saturday, November 14, 2015
RE: Tax and Insurance liabiliity
To maximize asset protection it is better to create one LLC per rental property. Every investment property should be owned by a separate LLC that owns only one property and that is not involved in any other business.
Posted by
Bill F, MS
on
Saturday, November 14, 2015
RE: Tax and Insurance liabiliity
Thank you. Yes, I agree that one LLC per property is best practice. I have 4 condos. It's going to be onerous and expensive to file 5 income tax forms. (4 rentals + personal) What are my options? Anyone?
Posted by
Jay S, SC
on
Sunday, November 15, 2015
RE: Tax and Insurance liabiliity
Thanks for sharing!
Posted by
Connie S, FL
on
Saturday, October 29, 2016
RE: Tax and Insurance liabiliity
20
Posted by
jahfwkwi j,
on
Wednesday, April 3, 2019
RE: Tax and Insurance liabiliity
20
Posted by
jahfwkwi j,
on
Wednesday, April 3, 2019
Author:
ben h, PA
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Updated:
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Updated:
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Updated:
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