LLC for condo unit using as a vacation & investment property?

[Dennis Gallof]

I purchased a condo in Miami that allows me to do "short term rentals" since it's in a building that's half hotel, half condo; which works out great because I could rent it out for extra income whenever my family isn't using it.

I see all the benefits of having an LLC for an investment property, but I'm thinking is it really worth setting up an LLC for my single condo unit. I'm not looking to create a "short term rental" business out of this, where I'll be purchasing other investment properties, anytime in the near future, but just want a way to make extra cash when not in use.

I feel like all the steps of going through my mortgage company, seeing if they even allow me to transfer ownership to an LLC, without causing a "due on sale" clause or increasing my interest rate. Then going through the process of setting up the actual LLC, setting up a business banking account, etc...do I really need this much personal liability protection for a condo unit that I'll be using as a vacation / investment property?

Especially, when I see sites like Airbnb/VRBO offer hosts protection of liability insurance of up to $1 million USD to protect against third party claims for personal injury or property damage; so that makes me feel more comfortable just listing on Airbnb/VRBO with the condo unit under my name.

Thank you!