They will likely have interest when you want to transfer ownership of the property to the new LLC.

A lease is much like a deed, you have transferred legal rights to this property to the tenant and have taken on legal obligations for the maintenance on the property.

Plus, other routine tasks like transferring loans and providing payoffs were way more difficult with them than it should have been.

Here’s a method of transferring ow worship that worked for me.

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).

This approach avoids downtime and lets you start earning right away.Future Bookings:Taking over bookings can get tricky since Airbnb doesn’t allow direct transfers between accounts.

Have prior owners agreed to occupancy transfer? 

According to the City of Chicago tax code, it costs $5.25 per $500 of the transfer price.

Closing costs, including recording fees, transfer taxes and HOA transfer fees, if any5. 

Lastly, if you’re currently taking a homestead exemption on property taxes, once that drops off (if you’re currently taking chose to transfer the exemption to your new home) your property taxes will likely increase $1k-$2k thus increasing your monthly mortgage.