Naming our STR LLC the same as its platform name or different?
8 Replies
Julie Behrman
Investor from Woodland Washington
posted about 2 months ago
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
Rental Property Investor from Tennessee Florida
replied about 2 months ago
Leora Merrell
Rental Property Investor
replied about 2 months ago
It doesn't matter. Name your STR whatever you want!
Julie Behrman
Investor from Woodland Washington
replied about 2 months ago
@Luke Carl thank you and yes I do need good insurance. Any recommendations ?
Julie Behrman
Investor from Woodland Washington
replied about 2 months ago
@Leora Merrell thank you!
John Underwood
Investor from Greer, South Carolina
replied about 2 months ago
Originally posted by @Julie Behrman :@Luke Carl thank you and yes I do need good insurance. Any recommendations ?
Foremost STR insurance is the most cost effective and this is what I use.
Julie Behrman
Investor from Woodland Washington
replied about 2 months ago
Hey thanks for this reply @John Underwood !
Mike Anderson
Rental Property Investor from Atlanta, GA
replied about 1 month ago
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
Investor from Woodland Washington
replied about 1 month ago
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.