Landlord Question and Answer Forum
I currently have 1 rental property. Should I establish an LLC? What are the pros and cons of this?
Carissa T, AZ on Monday, April 26, 2010
RE: LLC
Depends on what else you have to loose. One would not warrant an LLC where I live. It's exactly what it says, "limits liability". It's all about creating layers or veils. Legal action against you comes down to making someone else spend as much or more money than you have. Been there, done that. It has little to do with right, wrong.
Posted by
Edward D, MO
on
Monday, April 26, 2010
RE: LLC
I have liability insurance up to 2 million dollars , I think that is all you need. ,a lawyer will appear if need be in my behalf, a person will sue if he is desperate if he finds the right thing to sue for , harassment is one but write to your tenant instead of calls, The best advice I can forsee is keep up your property and look for dangers rip carpets and light out.
Posted by
Donald G, MA
on
Monday, April 26, 2010
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