It doesn’t matter if you operate a single Airbnb property or a growing portfolio of short term rentals. Setting up an Airbnb LLC might be the smartest thing you do all year. Here’s why… An Airbnb LLC can deliver significant benefits including: LLCs Taxed Like Sole Proprietorships In terms of tax treatment, a vacation rental…
Have you ever wondered why landlords require renters insurance? Don’t they have their own insurance? Why should a landlord care what happens to a tenant’s personal belongings? Isn’t it up to the tenant to decide whether that 60″ flat screen TV and a closet full of designer jeans is worth insuring? What’s going on here?…
Anyone who’s owned a rental property and shopped around for landlord insurance will tell you that the process leaves much to be desired. Landlord insurance can be quite expensive and often runs 25% more than comparable homeowners insurance would for the same property. That means it’s in your interest to get multiple quotes, preferably on…
Separate Bank Accounts for Rental Properties Say what you want about the “sharing economy.” At the end of the day, your rental property activities constitute a business venture. Whether you rent out your home for a few weeks here and there or operate a growing portfolio of long-term rentals or Airbnbs, your tenants and guests…
Consider yourself lucky if you haven’t yet had to pull the rip cord and deploy the standard Airbnb insurance policy that’s included with all bookings. No one’s poured concrete down a drain yet? Hit you with a slip and fall lawsuit? Or burned down the woodshed in a rum-fueled inferno? If one of these or…