Advice on renting primary residence

[Yates Harris]

I am thinking of taking a job out of state and during that time I would like to rent out my primary residence which is a one bedroom townhouse in Buckhead/Atlanta. It does have an HOA but they do allow rentals for at least 6 months. My main concern is I want to make sure I offset any liability in perhaps the slim instance a tenant tries to sue me for potentially slipping and falling themselves or for whatever possible reason really. Putting real estate assets into an LLC or trust are all terms I hear about but am wondering if that would be appropriate and/or necessary in this situation to off set any potential liability? Am I perhaps over thinking this and should I perhaps not consider putting a primary residence into a trust or LLC? I just want to do everything possible to make sure I'm protected in every way, including making sure no one could ever go after non real estate assets like my stocks as well. The townhome is completely paid off and own it outright in case that matters at all. Any insight is much appreciated! Thanks so much for your help!

Yates

[Laci White]

Quote from @Yates Harris:

I am thinking of taking a job out of state and during that time I would like to rent out my primary residence which is a one bedroom townhouse in Buckhead/Atlanta. It does have an HOA but they do allow rentals for at least 6 months. My main concern is I want to make sure I offset any liability in perhaps the slim instance a tenant tries to sue me for potentially slipping and falling themselves or for whatever possible reason really. Putting real estate assets into an LLC or trust are all terms I hear about but am wondering if that would be appropriate and/or necessary in this situation to off set any potential liability? Am I perhaps over thinking this and should I perhaps not consider putting a primary residence into a trust or LLC? I just want to do everything possible to make sure I'm protected in every way, including making sure no one could ever go after non real estate assets like my stocks as well. The townhome is completely paid off and own it outright in case that matters at all. Any insight is much appreciated! Thanks so much for your help!

Yates

 A good lease agreement that includes a hold harmless clause should be sufficient.