Quote:
Originally Posted by silverwhaletail
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...) |
Forming and maintaining an LLC or a million+ umbrella policy are 1/4 of that here in NC. Either will work depending upon your circumstances and what your goal is. I've done both, and now do the liability rider route. I realize a million may not sound like much to you folks in CA, but here in the "real world", it still counts
. One other thing, unless you want to keep several eggs in one basket, you'd typically want an LLC per property, and a blanket policy can cover them all...that's why I switched - KISS.