The Weil Law Group Knows that owning rental properties is a business, and that is why we are here to help you protect that business. From implementing asset protection strategies to protect your investment to dealing with problem Tenants, The Weil Law Group, PA has you covered.
What are Some of The Ways You Can Help Landlords Protect Their Assets?
Most people who become landlords, particularly those with only one or two rental properties, fail to appreciate the huge amount of liability that a rental property can create. Whether it be a slip and fall from one of your tenants guests, a tenant causing huge amounts of damage to other’s properties, or any number of a million other things that can happen, you are on the hook when something goes wrong.
While insurance can help offset some of the risk, the reality is if you own the property personally, or in your revocable trust, all of your property is potentially up for grabs if something happens. However, if something happens and the property is protected inside of a limited liability shell (Typically in the form of an LLC or other limited liability entity) only the equity value of the property, and whatever small amount is in the properties bank account is in jeopardy. In the event that one property has a huge amount of equity in it, we can also use financing strategies to extract equity to further protect the assets in the property.
The Attorneys at The Weil Law Group, PA will help you to analyze what asset protection strategies you should use. We determine your risk tolerance and pay particularly attention to the “Cost of Protection”, and try to make sure the cost always justifies the protection you’re getting.
Can you help me with a problem Tenant?
Whether your Tenant is not paying rent or violating your rules, we can help. We help resolve tenant issues quickly and efficiently. We know that your main concern is to protect your investment and to keep your rental income flowing. That is why our goal is to quickly resolve any problems, whether that be through correspondence or litigation.
For more information on how we can help you with your Florida Rental Property, a free consultation is your next best step. Get the information and legal answers you are seeking by calling (954) 546-7755 today.
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