Rental Business Structure - LLC vs. owning outright

[Peter Mikhjian]

Hi everyone - just bought my first rental property and I'm trying to figure out the best way to protect myself in case of any lawsuits. I've always been advised to set up the property owner to be an LLC and to have a separate bank account as well - which all makes sense.

My question though - what if I create an LLC with a corresponding bank account, but I own the property myself, and have the tenants rent from the LLC? If some one slips and falls, i'm assuming they can sue the LLC (which only has what is in the bank account). but can they sue me as well?

Your thoughts?

Thanks

[Ali Boone]

Here is an article that may clarify some things about LLCs. Don't just read the article, read the comments too as those are very informative-

http://www.biggerpockets.com/renewsblog/2013/08/17...