Quote:
Originally Posted by 930LDR
Friends have mentioned that I may want to form an LLC for the rental property.
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LLC will cost you $800 or so per year to maintain... I dont know what your situation is (net worth, exposure, other ventures that you could hide behind this same LLC) but if you do form an LLC,
www.legalzoom.com is a painless way to do it.
my advice? If this is your only rental, forget the LLC and buy extra insurance with the $800 per year. A huge liability rider costs practically nothing.
of course if your insurance company fails... (AIG...)