All Forum Posts by: Barb Lee

Kellen, that's exactly what I was thinking, thanks for the encouragement and tips!

JM, I have a timeshare and they very much strictly prohibit such things.  It's supposed to be for your personal use or, say, a family member, but never someone you don't know.  I imagine people do it anyway, but it's against the contract.  I don't know what resellers might be able to do with them but I would think they'd need to abide by the original contract.  Thanks for helping me think out of the box!

Hmmmm.   I think I'll ask again anyway.  I just think they're out there somewhere I just need to find them...

Yeah, you summarized it well, Matthew Paul. So where can I find landlords that are already set up as companies/corporations that have residential property that would be interested in leasing to my LLC to host Airbnb? :)

That would work if I just wanted one property, but I want to do this with several, so it's only affordable for me to rent.  And the reason I want to avoid buying in my personal name is to further reduce the risk to my personal assets if there's a lawsuit that is greater than the liability insurance.

I'd like to make this work so I'm doing my due diligence of this prospective business up front - haven't entered into any contracts yet.   I've heard there's resistance from landlords, like you've expressed, Matthew Paul.  I'm curious, though, would you (or do you think there may be reasonable landlords that would) consider it under the following conditions:

-I would be a personal guarantor on the lease (to guarantee rent payments) paying rent on-time through ACH

and get all utilities in my name,

-I would carry a $2million liability vacation rental property insurance naming the landlord as an additional insured,

-The occupants would be pre-screened by Airbnb,

-The unit would be cleaned and inspected after each guest,

-Hassle-free management - I would perform minor repairs immediately and keep the unit in tip-top shape, 

-We could have a month-to-month lease (with 60 day notice to let future bookings play out) if landlord wanted to,

-I won't break any HOA or local renting rules/laws,

And if the above isn't sufficient:

-I would be willing to share profits, leave a higher security deposit and/or pay higher rent.

Any other objections?  I appreciate honest, matter-of-fact feedback.

I agree with you Randy. I'm trying to see things from the landlord's perspective, and if I were a landlord (which I'm not) I'd want to run my business under an LLC. Regardless of who I was renting to.

That having been said, I've heard it's more difficult to get mortgages as a company rather than an individul , (higher interest rates, etc.) so there's that to consider as well...

Perhaps a solution to solve the concern about the landlord's vulnerability is for him/her to do business as an LLC. That's what I would do in his/her shoes.

I love nolo.com!  Always looking for good, free advice.  :)  Thanks so much for the link.

Yes to everything you said and I really appreciate your feedback.  I need to think about this some more as to how to make it work for everyone.

My research indicated that under 30 days was not considered subletting.  I would be upfront with the landlord and provide an addendum to the lease.

My question was regarding limiting my liability. if I could convince the landlord to sign with the LLC with me as guarantor instead of with me directly, would my being a guarantor (to insure that he gets paid) affect my personal liability regarding a lawsuit from some other party on the property.