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Karen Tan
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What should go into a LLC for STRs?

Karen Tan
Posted Jan 21 2024, 10:03

I've always heard to use LLC for an extra layer of protection and to not co-mingle funds, but how is this actually executed and what are all the things that should go into the LLC? So the property should be deeded in the LLC, or can it be leased to the LLC? Are bank accounts and insurance policies taken by the LLC? What if the STR doesn't generate positive cash flow and I need to cover from elsewhere? Should the Airbnb account be opened by the LLC so the renter is contracted with the LLC? What else should be considered?

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