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General Landlording & Rental Properties

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Lola Brin
  • Franktown, CO
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LLC use of EIN vs SSn

Lola Brin
  • Franktown, CO
Posted Dec 12 2012, 22:37

'We are transfering property that is under our name to an LLC. We are planning to use a Special Warranty Deed. We want to continue to use our SSN rather than to get and start filing using a EIN, has anyone had experience if using SSN presence a risk for someone being able to go after personal property outside of the rental since the LLC is tied to your SSN. I would hope with the title under the LLC and a lease would limit your liability to the property under the LLC'.
Lastly, do you really need a separate checking account for each LLC. We have 3 properties. Why couldn't we have one account that we call rentals and maintain a spreadsheet for each property?

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