If you are a landlord, do you own your rental property in your name or in a limited liability company or limited partnership? If you own rental real estate in your name, I urge you to read “How LLCs Protect Your Life Savings” and “Asset Protection Rules for Real Estate Investment.”
Unfortunately we live in a society with too many lawyers who urge people to sue at the drop of a hat. Large judgments against real property owners happen. See for example “Real Estate Owners Sued – a Too Common Nightmare for Property Owners” and “Arizona Jury Gives Volunteer Worker Injured in a Fall from a Ladder $5.9 Million.”
If you own your Arizona rental real estate in your name, act now to protect youself from things that can go wrong on the property. Protect your life savings by forming an Arizona limited liability company that will be the owner and landlord of the rental property.
To learn more about asset protection and Arizona limited liability companies, see Arizona Limited Liability Company Law.”