Pros & Cons on having the LLC manage the rental property

[Shana Williams]

I plan on turning my condo into a rental unit. I have already checked with my lender and they confirmed that if the property gets transferred into a LLC, the due-on-sale clause will take effect. With that being said, I am looking into getting an umbrella insurance for added protection.

So my question is, are there any additional benefits of having a LLC manage the property? The note will still be in my name, however, outside of not having any difference in taxes, are they any pros/cons of having the LLC manage my property?

Thanks