Placing your properties into an LLC, Corporation, Trust or whatever will not solve your tenant problems. You should first concentrate on getting good tenants! The pool of good tenants out there is enormous. There are many prospective tenants with only one problem and that's because they have defaulted on their mortgage. Their credit is now practically ruined because of the past mistakes in buying too much house with bank financing. I see it everyday. You need these kind of tenants. They may or may not be able to pay the rent on time but that is probably the biggest issue that should arise. The legal ownership structure will not change this issue. If your properties are in an LLC, that will not impact your tenants ability to pay the rent. However, if you are worried about your tenant shooting someone on your property putting you personally at risk, then as a real estate advisor and CPA, I would suggest that you change tenants. If you are worried that your tenants could burn your house down, you need to make sure that you have a good insurance policy. Good tenant quality and good insurance coverage is what you should focus on. Also, if can have your properties owned directly by a foreign entity in your home country, that may be a better structure than using a LLC or Trust in this country.
You can create an LLC and put your 3 (or more properties) under it - Consult your lawyer. As regards Policy coverage. consult with a professional. Remember : always.consult with professionals to be safe.
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I have two clients who purchase with their names and all they do it's (liability ins.) and pay the taxes every year.
You may want to consider an "umbrella" insurance policy that will cover all of your properties. I have found the cost for this policy is reasonable considering what it covers. You will want to talk to your insurance representative for more information.
Prudential California Realty