Setting Up Existing Account to LLC

[Colby16]

Hello, 

I have an existing account on Airbnb with over numerous stays. I am interested in transfering it all to an LLC that I set up. Does anyone have any type of step by step process that I need to do in order to make this work?

Thanks!

[Ann72]

@Colby16   Go to Account, then choose "Professional Hosting Tools."  You do not need to host multiple properties to get them, you just need to request them.  Request professional hosting tools, then, when you get them, enter the name of the LLC as the company name.  All of this can be done within your present account with no need to transfer account details, which I don't think you can do anyway.

[Colby16]

This is great. I just dont want to lose all existing reviews if I need to create a new business account. 

[Ann72]

@Colby16 you won't, don't worry!  I didn't form the LLC until a year or two after I started hosting and I was able to add all the LLC info with no problem.  The host is still me, but for tax purposes everything is in the LLC's name.

[Rebekah151]

About how long until you get the tools? TIA

[Karol22]

You don't need Professional Hosting Tools to transfer an Airbnb account to an LLC. However, if your LLC is taxed as a separate entity (e.g. it has its own tax ID), you probably want to update the Tax ID information in your profile. Go to "Account" settings, select "Payments & payouts", select "Taxes" and add your LLC as a U.S. Taxpayer. You'll also want to change your bank routing rules have all earnings deposit into your LLC bank account.

[Wendy1168]

@Ann72  @Colby16   Is using the Professional Hosting Tools necessary? I was going to just enter my LLC under Account>Payments & payouts>Payouts>Add U.S. Taxpayer, fill out a new W-9 for my LLC, and change all the payments to go to my LLC instead of me. Now I wonder if that alone will not fully utilize the purpose and protections that an LLC provides.

[Ann72]

@Wendy1168  That makes sense for payouts and your tax returns, but I imagine too that any liability connected with the account would fall on you individually, not the LLC, if it's not the company of record.  When you enter the LLC details in professional hosting tools, you become merely the legal representative of the LLC and Airbnb recognizes that a company, not an individual, is managing the properties.

[Stella480]

@Ann72 If I own the home but want to just run the Airbnb through my LLC, is that possible? Even though the home is not owned by the LLC?

[Karol22]

Yes. This is indeed possible. You could technically lease your property to the LLC which then subleases to guests, which may offer additional liability protection. However, you'll want to consult with your accountant/attorney to understand benefits/disadvantages and best way to go about this. What are you trying to accomplish?