Should i collect rent under a LLC?

[Raza Rizvi]

Question for the BP community. I just purchased a 2 family home in the Bronx (NY). Should i form a LLC and collect rents under the LLC? Is there any benefit to that? The property is in my name and transferring the title to the LLC is not a possibility. I already checked.

Your feedback & advice would be greatly appreciated. 

Thanks 

[Julio Gonzalez]

@Raza Rizvi A benefit of an LLC is that it can provide extra liability protection for you. However, it's not necessary. As Bruce mentioned, simply open a bank account specifically for the rental property and run everything through there.