Your investment property is a business; Safeguard Property Options LLC is your business manager.
Owning rental properties comes with liability risk. If you own a rental property in your own name and someone decides to sue you for injuries or a loss resulting from that rental property, that lawsuit can affect your rental property AND your personal assets! If you have your rental property in an LLC with a separate business checking account, your personal assets are better protected.
Setting up the LLC is not as difficult as it may seem. Here are the essential steps needed to put your property in an LLC:
The initial cost to create the LLC, transfer your property, and record the documents with the county is $400. Every year the LLC has to be renewed along with any business licenses, ranging from $75 -
Having Safeguard Property Options, LLC operate under your property’s LLC allows us to provide the same services a traditional property management model would provide, but at significantly lower costs.
Also, operating under your property’s LLC for 1% membership allows us to view and treat your property for what it is -
Your property is not owned by Safeguard Property Options, LLC, we are a managing partner. Safeguard Property Options, LLC is specifically prohibited from engaging in activity that would cause the transfer or sale of the assets held by the LLC unless authorized in writing by the majority members of the LLC. If you choose to sell your property that is held by the LLC, the LLC would still exist but hold no assets.