Airbnb Host and Investors Forum General Advice « Previous 1 … 4 5 6 7 8 9 Next » A Short Term Rental (STR) Forum Community

[KarthikL]

Hi, I am in process of acquiring a new property for sole purpose of airbnb and maybe other platforms. My agent recommended me to do an LLC and have the title under LLC name. I will still get mortgage with my guarantee and get individual rental property mortgage. They are saying it's better for legal protection as I can run the BnB under that entity now and keep accounts clean vs my personal. Any advice on this and is that really useful?

[CEOofFUN]

talk to your attorney or an accountant, not randoms on the internet.

[NYTA]

I did it but that was a cash deal, its going to be more complex if you are getting a mortgage. Highly recommend to put that wall of protection somewhere...maybe setup a host company LLC ...and make sure you carry your own insurance for damage and loss of income. As the CEOOFFUN said, talk to a legal expert and accountant on this, depending on the state it can be pretty complex.