RENTAL CORPORATE STRUCTURING

RENTAL CORPORATE STRUCTURING

COVER YOUR ASSETS!

When renting out your property, beware of the LIABILITY EXPOSURE.

Whether you’re renting out one or multiple properties, you now have a business. With that business comes LEGAL EXPOSURE. That’s the risk you take being a business owner.

One of the biggest mistakes rental property owners make is holding the title of the property in their own personal name.  Now, your tenant sues, and all of your personal wealth is up for grabs in the lawsuit.  Your bank accounts, your home, your kids’ college funds.

The second most common poor choice I see is holding the title of the property in a Revocable Living Trust.  Now, your tenant sues, and all of your personal wealth is still up for grabs in the lawsuit.  Your bank accounts, your home, your kids’ college funds.  Estate planning is not designed to protect you from the public, it’s designed to protect your estate from the state government upon being deceased.

The third wrong move I see that’s becoming increasingly more common is holding one or multiple titles in an LLC and renting to tenants through the LLC.  Now, your tenant sues your LLC, and the property is held by the LLC, so the property is up for grabs in the lawsuit along with any other title being held in the same LLC.

When you get sued, will you lose everything you’ve worked so hard to build?  Not if you take the time to create the correct corporate structure for your portfolio.  Every corporate structure is unique to the individual.  There are ‘limits’ to even corporate veils created through holding company structuring.  Speaking with an experienced asset protection attorney on what’s best for your holdings is the best way to ensure you’re Covering Your Rental Assets!

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Kelly Bagla, Esq.

Kelly Bagla, Esq.

High Net-Worth Business Attorney, Kelly Bagla is an international award-winning corporate lawyer and entrepreneur. Affectionately known by her clients as, “Queen of Business Law®,” Kelly protects high net-worth individuals and business owners through custom legal strategies.

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