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I am considering listing my property with VRBO / AirBNB. My property is a lake property, where other comparable houses are making a nice profit.

One of my buddies is doing this, and he also has a separate LLC set up for additional rental income on a pontoon boat. I was considering that and for the use of a golf cart with the rental property.

Questions:

  • What should I consider when forming an LLC to operate this rental property?
  • What considerations should I make for my LLC owning both the property and additional equipment, like a golf cart?
  • What considerations should I make when renting the property and ancilliary equipment with respect to my LLC?
  • What considerations should I make when renting the property and ancilliary equipment with respect to VRBO or AirBnB?
  • Do the AirBnb or VRBO host agreements or FAQs discuss things like golf carts? – Freiheit Jan 21 at 16:46
  • Have you looked at similar listings for similar properties which include use of items like golf carts or jet skis? Do those listings include additional requirements like a safety check or additional insurance or additional waivers for use of those machines? – Freiheit Jan 21 at 16:47
  • @Freiheit Not that I saw. Jet Ski's are actually really expensive to insure as they are basically motorcycles people ride all the time without a helmet so no go there. – Mister Positive Jan 21 at 17:24
  • Have you considered the additional insurance that might be needed to cover the loss of the golf cart and any damage that might be caused by the improper use of the cart? – mhoran_psprep Jan 21 at 18:11
  • @mhoran_psprep I have. Loyds of London offers coverage. I am really concerned about the golf cart. The pontoon is hard to break.... – Mister Positive Jan 21 at 18:14

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