Category: Rental Properties

Limited liability company (“LLC”) With an LLC, some of the advantages over an umbrella insurance policy include: Some of the disadvantages of an LLC include: Umbrella insurance policy With an umbrella insurance policy, some of the advantages over an LLC include: Some of the disadvantages of an umbrella insurance include: Overall, I generally recommend LLCs…

Owning your rental property in a limited liability company (“LLC”) is usually a good idea. It is often better than owning rental property in your individual name because you can limit your individual liability. The following are some of the major pros and cons to owning rental property in an LLC: Pros: Limited liability –…

Owning rental property in a limited liability company (“LLC”) can be a great idea. The best part of owning your rental property in an LLC is that it limits your liability. For instance, if someone is hurt on the property, then they would sue the owner, which is the LLC. Their recovery would be limited…

You will need to authorize your out-of-state LLC to do business in Florida if you are transacting business in Florida. If the entity is collecting rental income, then the LLC is considered to be transacting business in Florida and will need to be authorized to do business in Florida. It should be noted that owning…