Q. I have a single-family home that I plan to rent. Can I start a LLC rental business based on this ? What are the advantages and disadvantages of doing so ? Can you give me some pointers to website dealing with this information.
Thanks
Ramna
Thanks
Ramna
A. Yes you can. However, an LLC will not have much value unless you can transfer ownership of the house to the LLC. This will be very difficult if you have a loan on your home.
The purpose of an LLC is to insulate your personal assets from lawsuits. If you are worried about lawsuits, buy an umbrella policy from your insurance company.
The purpose of an LLC is to insulate your personal assets from lawsuits. If you are worried about lawsuits, buy an umbrella policy from your insurance company.
what is the best rental site for homes and apartments ?
Q. I live in Chicago, im looking for townhomes/single family homes or apartments for rent. I have tried some sites, but they did not seem to work well. Is there a very good site widely used ?
A. A local realtor is your safest bet.
does anyone encountered any problem after renting single family home?
Q. I am planning to rent my single family home and I am new to renting business. I wanted to know whether anyone encountered any serious problem after renting their home and which is a better option renting the house or selling it. Thanks!
A. Tons of problems! Ask a few landlords in your area and you will get tons of nightmare scenarios. My brother rented his home to a wonderful retired couple. Didn't smoke. Didn't drink. No children. No pets. Paid six months rent up front. He was ecstatic! Month seven he goes to collect the rent and they have no money. It takes him five months to get them evicted because everytime a court date was set it had to be moved because of a health issue. He finally gets the eviction only to find out they had already moved. And they took the central A/C unit, dishwasher, stove, refrigerator, ductwork and all the copper pipe from underneath the house.
Being a landlord is not for the faint of heart. It is a brutal business.
My suggestion is...sell your house!
Good luck!
Being a landlord is not for the faint of heart. It is a brutal business.
My suggestion is...sell your house!
Good luck!
What is the best websites for looking for single family homes for rent in wisconsin?
Q. My family and i are looking for a single family house to RENT but im having trouble finding a site the shows adds... If anybody knows of any for here in Wisconsin plz let me know!
We're looking to rent a home in West allis, brookfield, waukesha, new berlin, franklin, hales corners, elm grove
We're looking to rent a home in West allis, brookfield, waukesha, new berlin, franklin, hales corners, elm grove
A. hassanwali2008@yahoo.com
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