Hello, do i need to register a business license to get started?
Welcome Leslie, buying a property as a rental in your name may not be considered a business in your jurisdiction. I'd say most individuals don't go there, but, if you are forming a business entity then yes, you probably do need one. Best way to find out is to call your municipal and county finance office and describe what you intend to do.
One caution, operating a rental without a business license if required can mean trouble if you ever evict a tenant and they may not allow you to obtain a judgment for damages if you are not compliant, not to mention a fine. The other issue is that business assets may be taxed and back taxes could be owed along with fines, so if it is required, get it. :)
Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com
depends on what you are planning and where. I have two houses rented in two different cities. One city has a business license just to rent, and that isn't in an llc. Best to go to your city hall and inquire about it.
Wow that's interesting. city requiring a businesslic just to rent out your own property, wonder if that's even applicable if one were living in that property or city?
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