Updated over 8 years ago on . Most recent reply
Got first property ... now what?
Just recently closed on a second home / investment property. Where it is located, it will probably only rent 3 to 4 months out of the year due to the climate, thus I am probably looking at using AirBnb or VRBO to market it. Before that, I want to make sure I have everything in order, which I am not sure of at this point. I have not formed an LLC as of yet. Should I? Also, insurance? I have insurance on the dwelling. Do I need special insurance to have someone renting the place short term? I have also read horror stories of people renting out a place and then subleasing it to someone else. I would guess a clause prohibiting that should be put in the lease? Trying to get over my analysis paralysis.