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Updated almost 6 years ago on . Most recent reply

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32
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10
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Brandon Bonfiglio
  • Franklin Square, NY
10
Votes |
32
Posts

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?

Most Popular Reply

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241
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254
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Chuck Kramer
  • Orlando, FL
254
Votes |
241
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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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