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Updated almost 6 years ago on . Most recent reply

Brandon Bonfiglio's profile image
Brandon Bonfiglio's profile image
Brandon Bonfiglio
  • from Franklin Square, NY
  • Member since Oct 7, 2019

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Brandon Bonfiglio's profile image
Brandon Bonfiglio's profile image
Brandon Bonfiglio
  • from Franklin Square, NY
  • Member since Oct 7, 2019
Brandon Bonfiglio
  • Franklin Square, NY
10
Votes |
32
Posts
Marketing Your Property

Should I open an LLC for my short term rental property

Brandon Bonfiglio
  • Franklin Square, NY
Posted

I'm In the process of closing on a house in Gatlinburg, TN for short term rentals. Should I open an LLC? What are the benefits of doing so?

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Chuck Kramer's profile image
Chuck Kramer's profile image
Chuck Kramer
  • from Orlando, FL
  • Member since Mar 24, 2017

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Chuck Kramer's profile image
Chuck Kramer's profile image
Chuck Kramer
  • from Orlando, FL
  • Member since Mar 24, 2017
Chuck Kramer
  • Orlando, FL
254
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Chuck Kramer
  • Orlando, FL
Replied

I you are just doing 1, I would say probably not. Just get extra liability insurance. Plus, if you use an LLC, you need to start with it. Too many ways for decent attorney to ‘pierce the veil' when you convert later.

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