Recent content by Al999

no. I didn’t purchase it yet but about submitting an offer. Also I googled and found standard articles saying about standard practice of having llc for rentals, but then I found one guy saying that purpose of llc is overestimated and only brings headaches and that he has 17 rental properties and...

Great. Means if I am sued for damaging renter’s property or health then My assets including my savings protected by insurance. The question remains what does the factor of having title been under llc protects regarding my assets?

No mortgage. I know that llc provides liability protection. Doesn’t insurance liability coverage do the same? Why would rental need double protection Let’s focus just on this matter?

thank you. The property is a second home, not vacation home. The question is not really about insurance since it will be covered by it disregards been owed by llc or individual. The Insurance will be a landlord type insurance. The question I need an answer for can be rephrased as following: Can...

Same advise to you if you have nothing to say besides "talk to an attorney" then PLEASE remain silent and don't flood this chain with useless answers since that option is known by default.

At this point I am going to guess that you are a racist and advise you to buzz off if you have nothing else to say besides sending me to paid service of attorneys. I knew that they exist before getting your advises. Just remain silent if you don't understand question even it is because of my...

Yes, I know that insurance should be part in both scenarios, but I am trying to figure out in term of liability protection what LLC can provide extra if potential claims don't go above 1 million besides complicating reporting and tax filing? Keep in mind that insurance could be 2 millions with...

OK. I can rephrase my original question to this. What extra can titled under LLC real estate property provide In term of protecting my other assets against possible liabilities related to it if compared with having 1 million liability coverage insurance on titled under individual name real...

For New York, but below question is generally applies for all states. Does it make sense of registering real estate property on LLC or Trust vs insured for 1 million against liabilities individual in the case when property will have mixed personal use with on and off rental and possibility of...

I am landlord who has rental property in NYC, NY. I have tenant on 1 year fixed rental agreement. I will not renew lease after the expiration of this agreement. The agreement doesn’t have automatic renewal and allows to become month-to-month only with consent of landlord. Also the agreement...

What is the name of your state (only U.S. law)? Florida I have condo apartment in Miami Beach, Florida and have 3 years ongoing problem with repeated leak from above that damages ceiling of my bathroom. The situation is kind of ridiculous because the owner of the above unit blames that leak is...