All Forum Posts by: Edi C.

Hi Community,

I would like to ask about transferring a property from personal to a company to better protect on a personal level and the other assets. My main question is how it would be this process and if it’s doable without refinancing when the property has a mortgage loan.

Additional questions are:

• For rental purposes, which is the legal entity that best fits?
• If there’s several properties, is the best option having each property under one company?
• What’s the best workflow for tax purposes?
• Can I make a parent company that owns all of them in a State that doesn’t disclose the final company ownership?

I know this is a topic that’s been widely discussed, and I’ve done some research before posting. However, any insights would be greatly appreciated as I’ve never tackled this matter.

Thank you,

EDI

Oh, now I understand @Patricia Taveras. Thank you!

Thanks @Culin Tate, this same thing I wast told from a friend that manages listings. If the house ends up being one signle Airbnb I’ll play with the price/guests rate to optimize, when possible.

Interesting point @Patricia Taveras! If I understand correctly, your house can be split in two (with no shared areas) and reversed to one bigger unit. Is that correct? If so, how do you manage changing house configuration to be 2 small units or 1 large unit?

Thanks @Douglas Fox! Yep, month ago I asked the City and then applied. I already have my inspection, license and the OK for STR. Yes, the house will start as a one single unit to list and I'll see how it goes. I have previous feedback from a friend that most part of bookings will be 2-4 people, but I'll check is there's enough demand for large groups with less competence as @Marcello Di Gerlando points. Which would be a good scenario as well!

Thanks for replying, I think I got more feedback than expected! Understood @Michael Baum. It’s the option that makes more sense and covers all legal stuff. I’ll talk to the City to see if split possibility exists and what would require.

Hi community, I’m seeking some Airbnb insight!

I own a rental (SFH) and I'm transitioning to short term vacation rental. The house has decent space and rooms, and an ideal layout to be split in two. After some repairs and decor I'm doing, I can set up an Airbnb for up to 10 guests (easily 12). But if most part of the reservations are 2-4 people I prefer having 2 "units", one up to 4 guests and the other one up to 6.

So, Airbnb allows listing multiple rooms at one location by creating a separate listing for each space you have available. Each space will have its own calendar and listing page that should reflect the number of beds, amenities, etc... reason why I don’t see any issue on Airbnb as it’s quite flexible.

However I don’t know how to proceed when thinking about the property itself (City, law, zoning, insurance, etc...). Seems a red flag to me just closing an interior wall and divide the property it in two different areas.

My question is do I have to rent the entire unit because it's legally a SFH? What should I do to legally have two spaces with separate listings? However, I'd like to fall into the "Entire place" category instead of "Private room" listing because, in fact, each one would be an entire place with no shared areas.

Am I missing something?

I would appreciate any feedback!

Thanks,

EDI

Thanks @Shelby LeBlanc for the information!!

Also, what should I expect on the architect price range? Just need the design, specs and blueprints from the architect side.

Thanks @Shelby LeBlanc for your reply!! I probably can use plans ready and tweak a few things here and there.