Should I open a separate LLC for my STRs?

[Craig Frankie]

Does anybody have some options on lumping STR properties with long term rentals in the same LLC or would it be better for them to be separate entities. Just would like opinions not legal advise.

[Jason Marino]

The previous comment by Mordechai is accurate. The best practice with multiple properties is to attempt to compartmentalize each property into a seperate LLC or limited liability vehicle. This limits the ability of a law suit on a single property to access assets that are not related to the law suit. At scale, some larger investors will decide to batch several properties into a single LLC.