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Updated over 2 years ago,
Transferring home into LLC vs not?
Hi everyone! I am thinking of putting my house on Airbnb in Austin. I have a STR license from the city. I'm a little worried about getting sued if a guest hurts themselves on my property.
Would you recommend me transferring the property into an LLC to protect my other assets? Austin STR rules says that you cannot have a license under an LLC but I figured I can just do it for a year and when renewal time comes up I can decide to sell it or switch it to a long-term rental. Just wanted to get your thoughts on this.
Thanks!
Would you recommend me transferring the property into an LLC to protect my other assets? Austin STR rules says that you cannot have a license under an LLC but I figured I can just do it for a year and when renewal time comes up I can decide to sell it or switch it to a long-term rental. Just wanted to get your thoughts on this.
Thanks!