All Forum Posts by: Michael Greco

Thanks @Adam Bartomeo and @Chris Seveney.

My plan to move the rental property to an LLC was to remove personal assets from any liability claims (i.e restrict liability claims to assets of the LLC).

Yes my plan were to quit claim the deed to the LLC, but if the mortgage company is not cooperating I probably have little choice but to leave as it is.

I have an existing rental property that I am trying to move into an LLC.

The mortgage company (Washington Trust) is saying "no" and that I would need to refinance.  That means at a much higher interest rate (currently at 3.5%)

The bank said that would finance a single asset LLC. I assume that means that they would not finance a multiple asset LLC.

Does anyone have any recommendations for this process?

I had arranged landlord insurance coverage for my rental property, but when I questioned my insurance agent I learned that it did not cover STR (short term rentals), or rental terms of less than 12 months.

I identified an insurance company(American Modern Insurance) for rentals of any term length but they do not want to provide coverage if the house is rented to students.

Ideally I am looking for an insurance policy that covers rental terms of any length and has no conditions on who I rent to.

Are there any recommendations?

 Greg - thanks

I had arranged landlord insurance coverage for my rental property, but when I questioned my insurance agent I learned that it did not cover STR (short term rentals), or rental terms of less than 12 months.

I identified an insurance company(American Modern Insurance) for rentals of any term length but they do not want to provide coverage if the house is rented to students.

Ideally I am looking for an insurance policy that covers rental terms of any length and has no conditions on who I rent to.

Are there any recommendations?