Tax and Insurance liabiliity : ezLandlordForms

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Tax and Insurance liabiliity

Jay S

started a topic over 8 years ago

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?

5 Comments

Bill F

said over 8 years ago

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.

Jay S

said over 8 years ago

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?

Connie S

said over 7 years ago

Thanks for sharing!

Jahfwkwi J

said about 5 years ago

Jahfwkwi J

said about 5 years ago