Do you start an LLC for each rental property you own?

2 Replies

I have a general insurance policy for my Maryland rental but am thinking of also putting it into it's own LLC.

-Do you start a new LLC for each rental you own, example 123 Main Street LLC?

-Do you encounter any issues with refinancing mortgage with lender to put under LLC?

Thanks!

In Calif, each legal entity will cost you $800 per year and require a list of members to be filed annually.  Your friendly lawyer would love to help you file one per.

I’m not an attorney nor an accountant, so I’d recommended speaking to both of them about your specific situation. They should be able to guide you on the best plan suited for your financial and legal situation.

My recommendation would be to NOT put each property in a separate LLC. It is very difficult to finance properties under an LLC.

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