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Indeed, this seems only logical. I honestly have this thought every time I make a large financial decision: Renting a house? Would be much easier to break the l
by astockwell 9y ago
Indeed, this seems only logical. I honestly have this thought every time I make a large financial decision: Renting a house? Would be much easier to break the lease (Should I ever need to) if my surrogate 'corporation' with few assets were the leasee. Ditto with many medical situations/other large expenses. Plus, much better tax deductions!
- JumpCrisscross 9y ago> Would be much easier to break the lease (Should I ever need to) if my surrogate 'corporation' with few assets were the leasee You'll risk losing the assets. If the assets aren't substantial, it's unlikely any landlord will sign the lease with the entity without someone guaranteeing it.
- fma 9y agoWell, this is why most people (including myself) put rental property under an LLC. I wouldn't let a tenant sign the lease as a corporation unless they were a legit corporation - you know, companies rent houses all the time for executives that relocate, etc. If the tenant breaks the lease, I'd sue the company and their assets. Real world example: I did a summer internship one year and the company rented a few houses for the interns. Myself and 2 college guys were in one. Landlord claimed damage on the air conditioner because it iced over due to not changing the filter...ended up getting money from the company.