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  • Re: Hosting using a corporate legal entity
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Hosting using a corporate legal entity

Jon1
Jon1 in
United States
Level 1
‎01-01-2016 06:19 AM
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I want to add additional properties but I want to do so using a corporate entity like LLC to provide some legal protection to myself personally. Currently my profile is just me and with a verified ID.

Does anyone else have experience hosting as a LLC? Can I edit my account or can u make a new one?

Lastly, if this isn't possible how are other hosts of multiple properties managing the risk involved, beyond just rental property insurance?
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Re: Hosting using a corporate legal entity

Maria-Lurdes0
Maria-Lurdes0 in
Union City, NJ
Level 10
‎01-01-2016 07:33 AM
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I host under my name, but my payments go to the bank account of my LLC.  I've been doing it for two years, and my accountant understands how it all works and we pay corporate taxes and personal taxes.  My profile has nothing to do with the LLC, it's just the LLC that owns the property/rents the property, depending on my listing.   We do a bit of finetuning every year, as we're learning as we grow - but this is how we work things for now.

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Re: Hosting using a corporate legal entity

Jon1
Jon1 in
United States
Level 1
‎02-01-2016 11:59 AM
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Thanks for the feedback, Maria. A follow up question though: The LLC owns the property, but a guest is renting from you personally through the site. If the guest has some catastrophe, wouldn't he/she be led to sue you personally, since it's you that he has a "contract" with through the airbnb platform? In this case, the LLC doesn't provide you that protection you need?

 

Also, have you found anything else online from Airbnb or elsewhere relating to this? It seems like it's relevant to all full-time airbnb properties? 

 

Thanks

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Re: Hosting using a corporate legal entity

Derek0
Derek0 in
Los Angeles, CA
Level 2
‎05-01-2016 06:43 PM
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Hi Jon,

 

We just came out with this very content for rideshare drivers and in the process of tailoring it for Homesharing Hosts:

 

http://www.sharedeconomycpa.com/blog/should-i-incorporate-or-llc-my-rideshare-income

 

Let me know if you have any follow-up questions.


Best,

Derek

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Re: Hosting using a corporate legal entity

K-and-L0
K-and-L0 in
New York, NY
Level 1
‎09-04-2017 12:03 PM
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HI, We own a summer home as an LLC and are thinking of listing on Air BnB.  Would you mind sharing what you have learned about this?

thanks

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Re: Hosting using a corporate legal entity

K-and-L0
K-and-L0 in
New York, NY
Level 1
‎09-04-2017 12:08 PM
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HI, We own a summer home as an LLC and are thinking of listing on Air BnB.  Would you mind sharing what you have learned about this?

thanks

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Re: Hosting using a corporate legal entity

Kelley-and-Luke0
Kelley-and-Luke0 in
Golden, CO
Level 1
‎21-07-2017 12:06 PM
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Hi Jon - 

Was just wondering if you found answers to the questions above? We are getting ready to list our home for the first time and are in a similar situation where our LLC actually owns the property. Trying to figure out the best way to list our home to ensure the liability falls to the LLC instead of us personally. Any info would be appreciated. Thanks!

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Re: Hosting using a corporate legal entity

Jannik-and-Cristina0
Jannik-and-Cristina0 in
New York, NY
Level 2
‎03-05-2016 02:12 PM
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Hi Maria and everyone else,

 

So in the end, where or how should I incorporate an LLC for a listing in NYC? It seems like there are a bunch of folks trying to offer services to do it, but don't know who to trust or how exactly to do it. Any tips?

 

J

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Re: Hosting using a corporate legal entity

Samuel93
Samuel93 in
Miami, FL
Level 1
‎31-07-2017 03:56 PM
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A single member LLC (ie. one that has only you as a member) can be created online at sites for legal zoom for less than $200.  After that it is a matter of filing the paperwork with the appropriate department of New York State.  There are usually some minimal filing fees, etc.  You can just google it and it's not very complicated in most states.  You don't need a lawyer....unless you have partners and there need to be bylaws etc.

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Re: Hosting using a corporate legal entity

Elaina5
Elaina5 in
Huntington Beach, CA
Level 2
‎03-04-2020 05:59 PM
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In my situation, my home can not be a LLC because it is my primary residents where I live. It is technically not a rental. 

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