All Forum Posts by: Jay Lam

 It was in two different sample policies from two independent insurance agents. I think the wording means business activity that is  not in my own name. 

Thank you! Both of us are designated as landlords. Can the account be a personal checking account instead of business because we have the property in our own names? 

Hello,

I was wondering what type of umbrella insurance I should get for my rental? I read over a sample personal umbrella insurance policy and it says that they dont cover injury due to business property, and that business property is defined as residential property rented, or held for rental, to others. Does this mean they wont cover rental activity? Thank you!

Hello,

If I have two bank accounts one for the rent and for the security deposit, do these accounts have to be in both me and my wifes name if we both own the house? Or can the accounts just be in my name? Thank you!

Thank you for your responses! This was very helpful 

Hello,

I was wondering if anyone has recommendations for an online platform for rental applications and tenant screening all in one place? I have possible tenants, but want to have something that is secure but easy to access the information. My current landlord uses rentspree and says he likes it, but want to get additional insight. Thank you! 

Hello,

Does anyone have recommendations for an attorney to help with LLC formation and deed transfer for a rental in Orlando, FL? Thank you!

Hello,

Does anyone have recommendations for an attorney to help with LLC formation and deed transfer for a rental in Orlando, FL? Thank you!

I recently met with an attorney to set up an LLC for my rental in florida, but he told me that there is no need to have an operating agreement since we only have 2 members. I thought that an operating agreement was needed for asset protection? Thank you!

Thank you! It seems like the LLC would still be covered. I will plan to talk to a real estate attorney.