Legal Question in Real Estate Law in North Carolina

Establishing a LLC to rent out our property

I am going to have a property manager rent out my house when I move out of state later this year. I am also going to refinance the property prior to moving. What is/are the best course(s) of action to best create a buffer between tenents and my self? I have been thinking of establishing a LLC and have the house refinanced with the LLC listed on the title. Is this possible, or even suggested? Thanks


Asked on 2/20/08, 10:46 am

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

Re: Establishing a LLC to rent out our property

It is possible but it is hard to find a bank that will do that. You may be able to do that in a commercial loan context but your interest rate would be higher. Best bet would be to speak to a local community bank that you have a relationship with.

Also, look into insurance that would cover negligence lawsuits by your tenant or third parties.

Read more
Answered on 2/20/08, 11:12 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in North Carolina