Naming our STR LLC the same as its platform name or different?

Question

Hello everyone! Should the name of the LLC for the STR business be the same or different than its name on the platforms we will advertise it on? Does it matter? Thank you in advance for your valuable repies!

Jules

Luke Carl · Answer

@Julie Behrman

You don’t need an LLC you need insurance.

**** not legal advice

Mike Anderson · Answer

I'd use your personal names and not an LLC/Company name on the platforms so its more personable. People want to work with you, not a "company". It's more personable. I agree with Luke, LLC not needed just get a good umbrella and get insurance specific to owning an STR. It's not worth the effort or risk in my opinion to quit claim the deed into an LLC. There are no real tax benefits unless doing it full time and running it completely as a business. So no LLC, good STR specific insurance, and use your personal face/name on the platforms. You'll do well.

** Not official legal or tax advice, heck i don't even stay at Holiday Inn's ever.

Julie Behrman · Answer

Thank you all for your relies, this helps.  So what I am hearing is that I don't need to run our STS as an LLC business.  Don't I need protection for any issues that may happen? I will for sure be getting good insurance (umbrella) but what about write-offs for tax purposes? I anticipate I will be having this STS rental rented at least 30-40% of the time.

Julie Behrman · Answer

Hey thanks for this reply @John Underwood!

John Underwood · Answer

Foremost STR insurance is the most cost effective and this is what I use.

Julie Behrman · Answer

@Leora Merrell thank you!

Julie Behrman · Answer

@Luke Carl thank you and yes I do need good insurance. Any  recommendations ?

Leora Merrell · Answer

@Julie Behrman

It doesn’t matter. Name your STR whatever you want!

Naming our STR LLC the same as its platform name or different?

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