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All Forum Posts by: Julian Dragos

Julian Dragos has started 1 posts and replied 1 times.

Legal & Legislation

Post: Rental Property in an LLC and Insurance Requirements

Julian DragosPosted
  • Posts 1
  • Votes 0

I have just purchased a property at the Jersey Shore that will be used exclusively for short-term rentals through the summer season. I have a mortgage in my personal name, but setup an LLC that I plan to deed the property to and manage the rentals with. (The lender is allowing me to do this since it is a sole-member LLC). Before I begin renting the property what else do I need to consider ensuring the maximum amount of protection via the LLC? I assume I need Landlord Insurance or some kind of Liability Insurance for the LLC itself? Does my homeowner's policy need to be updated to name the LLC as the insured? Thanks in advance.

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