LLC Banned from Short-Term Rental
Has anyone had experience with issues resulting from their property being held in an LLC? Baltimore City has a final City Council meeting at 5:00 PM on Monday 11/19/18 to vote on the bill 18-0189 (Short-Term Residential Rentals - Regulation and Taxation). Investors who own their properties as an LLC will not be eligible for a Short Term Rental License. We currently have our property in an LLC and would prefer to keep it that way, primarily to limit liability but there are other benefits as well. However, it appears that we will have to transfer the ownership from the LLC to a person in order for that person to be eligible for a short-term rental license. Does anyone have any ideas or suggestions?