Pros And Cons Of An Llc For Short
There are many advantages to making your short-term rental business an LLC, but if it were too easy, everyone would do it! It can be a tricky process depending on your state or location, but theres good reason to implement it while also keeping in mind some of the negatives before making your final decision. As with most business measures, there will always be drawbacks alongside the benefits.
Phoenix Arizona Vacation Rentals
Phoenix is the largest city in Arizona. Phoenix offers a wide array of vacation rental homes, condos, loft-style townhomes near Chase Field and US Airways Arena . The Deseret Ridge and City North area of Phoenix offer townhomes, condos, and track style homes providing numerous restaurants, shops and nightlife.
Whether youre vacationing with family, golfing with your friends, or claiming a romantic getaway for two, having your own space with all the amenities youd expect from first-class accommodations is a smart and affordable option to resorts. Add a variety of visitor attractions and you have a fun-filled experience with a relaxing backdrop of a private Phoenix golf vacation rental home.
Hike the world-famous Camelback Mountain, or if hiking is not your thing traverse the winding streets by car or bike to view some of the most prolific and palatial homes of the modern day. Pamper yourself at one of the many day spas for a much-deserved whole body rejuvenation. Golf is a lifestyle in Phoenix, with championship courses beckoning golfers from all over the world. Shopping is eclectic and vastfrom high-end boutiques to sophisticated malls to bartering for treasures from Mexico in family-owned markets. The area stadiums and arenas are host to some of the best professional sports franchises in the US.
Payson Arizona Vacation Rentals
Payson is a town in northern Gila County, Arizona, United States. Its location puts it very near to the geographic center of Arizona. Payson has been called “The Heart of Arizona” As the gateway to Arizonas dramatic high country, Payson offers four-season recreation. Locals call it The Rim” which stands for the mogollon-rim, the rugged, far-reaching landscape of the Colorado Plateau. Cutting across the state, the Rim is a picturesque destination for wilderness adventurers of all ages. This land, where the Ponderosa Pine forest meets desert canyon country, has exerted a magnetic pull on early Mormon settlers, Western novelist Zane Grey, and actor/rancher John Wayne. Seven sparkling lakes are the centerpiece of scenic mountains, where you can ride horses in the morning and fly-fish in the afternoon. Plan a hike to the tonto-natural-bridge-state-park, believed to be the worlds largest natural travertine bridge.
The area is also home to many trails used for cross-country skiing. Payson also boasts a lively festival calendar. Theres big-time broncin in this small town setting at the Worlds Oldest Continuous Rodeo, established in 1884. Annual outdoor events lure thrill-seekers from across the Southwest, and the Old Time Fiddlers Contest celebrates the areas rich musical heritage. Dont worry about seeing it all this alpine playground is guaranteed to lasso you back for future trips.
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Scottsdale Arizona Vacation Rentals
Scottsdale Arizona has become one of the top tourist destination cities in the United States. The latest attractions to be added to Scottsdale’s line up of great things to do is the Musical Instrument Museum , and the recently opened Scottsdale Quarter shopping, dining and entertainment complex conveniently located adjacent to the well established and highly popular Kierland Commons outdoor shopping mall. Many travelers make an annual trek to Scottsdale for the numerous events held Scottsdale’s West World – venue for numerous horse shows and outdoor events including the highly successful Arabian and Quarter Horse shows held annually.
Golf has long been KING of all tourism in Scottsdale with the Tournament Players Club of Scottsdale holding reign as the center of the golf world in the Greater Phoenix area. The annual Phoenix Open Golf Tournament held at TPC the first week in February is popularly referred to as the “biggest party on earth” and the party seems to get bigger every year. Be sure to book your dates for accommodations early for these highly popular events because these reservation dates sell out fast and the best deals are offered early. Hotels sell out quickly and vacation home rentals are limited and sell out even faster than hotels for these super popular Scottsdale events.
Sedona Arizona Vacation Rentals
Sedona, Arizona is surrounded by some of the most spectacular scenery in the western hemisphere. Astonishing land formations of red rock invite you to go exploring on foot, by bike and from scenic overlooks while driving around. Also abundant are numerous Sedona museums housing secrets about the art and history of the area.
You can also sample delicious wines along the Verde Valley Wine Trail, and dine at world class rated restaurants. For outdoor enthusiasts, Slide Rock in the Oak Creek Canyon, and the Palatki Ruins are highlights of any trip to Sedona.
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Spring Break In Lake Havasu
Lake Havasu is known for its year-round beautiful weather, water activities, and off-roading. As Arizonas Playground, Lake Havasu provides the perfect place to play or relax for all ages. And many would also agree that theres no place quite like Lake Havasu for a Spring Break adventure! The best part about Havasu is that you dont need much to have an incredible time! Combine a few days off with a…
Luxury Scottsdale Vacation Rentals
Searching for the ultimate vacation rental in Arizona that can accommodate large groups? Look no further! Kobeys Cozy Desert Oasis offers Scottsdale Vacation Rentals with the perfect blend of elegance, convenience, and fun! With a range of options, our properties are perfect for your vacation, whether you need a quaint family getaway or the ultimate group destination package with plenty of room, your own chef and resort style pools & spas. See what we have to offer!
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Fountain Hills Arizona Vacation Rentals
Home to one of the world’s highest man-generated fountain geysers, vacation rentals in Fountain Hills are surrounded by some of the most picturesque mountain scenery in the greater Phoenix metropolitan area.
Fountain Hills vacation rentals make for a great stay in a small, quaint town bursting with charm and character. Just as its name suggests, one of the worlds largest fountains in located in a lake near the heart of town. At full power, the towns namesake and claim to fame rockets 560 feet into the air every hourand can be seen for miles. With a Fountain Hills vacation rental, its a convenient way for visitors to immerse themselves into the festive local culture while experiencing the privacy of affordable, luxury accommodations. Whether youre staying for a week or need a short term rental, you
Paradise Valley Arizona Vacation Rentals
Staying in a Paradise Valley vacation rental is a great way to live among the rich and famous while experiencing privacy and convenienceand saving money. Known for its upscale rural ambiance, Paradise Valley residents include celebrities such as rockers Stevie Nicks and Alice Cooper, sports superstars Steve Nash and Kurt Warner, news giant Hugh Downs and the legendary Walter Cronkite, as well as many of Hollywoods most famous. The town is elegant, the offerings are rich and the experiences are memorable. Experience this elegance in vacation properties that offer the perfect space for your budget and can include amenities such a private pool or spa, a well-equipped kitchen, outdoor patio and more.
There is no shortage of options of things to do in Paradise Valley. One of the most popular tourist attractions is the Cosanti Foundation, where legendary architectural innovator and artist, Paolo Soleri, created his world-famous line of ceramic and bronze wind-bells. Another piece of art you dont want to miss honors one of Arizonas most famous politicians, Senator Barry Goldwater, who passed away at his Paradise Valley home in 1998. Arizona artist Joe Beeler created a statue as a tribute to Senator Goldwaters legacy.
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Book The Best Holiday Vacation Rental
The perfect holiday vacation rental can be hard to find. Choosing a destination and property that meets everyones needs is difficult, which is why we offer luxury vacation homes in three idyllic cities! Our Moab vacation homes are perfect for outdoor lovers who want to explore the red rocks of Moab or nearby national parks. If youre looking for a lake house with water activities and beautiful sunsets, our Lake…
Why Should You Rent From Integrity Arizona Real Estate
Integrity Arizona Real Estate is a vacation rental management company that services Lake Havasu, Arizona. Our strengths are excellent customer service and attention to detail. We have been managing properties for a long time, and it is our belief that efficient processes, proper documentation, leading edge technology, and constant communication are the keys to having happy owners and happy vacationers!
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Visiting Phoenix And Tucson
The Greater Phoenix Area, also lovingly known as the Valley of the Sun, is comprised of Phoenix, Glendale, Gilbert, Tempe, Chandler, Scottsdale, Mesa, and more. With a year-round warm climate, snowbirds flock to this mountainous valley of central Arizona for sunshine, golfing, and exploring the Superstition and Camelback Mountains, as well as the Salt River Canyon. We offer a wide variety of monthly rentals especially for winter travelerssee what the Phoenix area might have in store for you.Driving down I-10 to historic Tucson and Tombstone passes right by Picacho Peak, a 1,500-foot peak that resembles a volcano from certain viewpoints, offers a panoramic view from the top, and is adorned with iconic saguaro cactus. After a thrilling hike to the top, continue on to Tucson to enjoy the cultural downtown area, authentic Mexican food, and Mt. Lemmon. Whether you’re staying at a Tucson vacation rental for business, pleasure, or a family visit, Saguaro National Park is an absolute must-see.
Property Walkthrough: Entrada At Moab 602
Make your next stay in Moab as luxurious as possible by choosing one of our exclusive vacation rentals right here in the city. Nothing is more exclusive than a reservation at our Entrada at Moab 602 property. Located in the heart of Moab, this luxurious townhouse features plenty of space, luxurious features, and close proximity to everything that makes Moab so unique. Take a look at what is offered when…
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Take A Lake Vacation In Arizona
Bordered by five states, Arizona’s northeastern border is part of the unique “four corners,” where you can stand in four statesArizona, Colorado, New Mexico, and Utah – at the same time. The southwest border shares majestic Lake Havasu with California, a popular spot for boating and walking across the United States version of The London Bridge. Lake Powell is shared with Utah on the north border, where you can see the bright red sandstone of the famous Rainbow Bridge with a journey from the nearest town of Page.
From watching the burning sky during sunset to enjoying the natural beauty and warmth of the desert, a stay in one of our Arizona vacation rentals is just what you need to unwind!
Takeaways: Should Your Vacation Rental Property Become An Llc
Making your vacation rental business an LLC is ultimately a personal decision. You must decide what is right for you and your business. As a recap, the factors you may want to consider are as follows:
- Personal liability
- Necessary members of the LLC
- Income distribution
Some vacation rental owners might opt to make their business a sole proprietorship or general partnership as an alternative to an LLC license. Ultimately, the proper licensing will depend on the business owner. Having an LLC for your vacation rental might be the right decision for you in giving legitimacy to your business.
Having the proper tools, like an LLC license and vacation rental software, will turn your short-term rental hustle into a recognized business. Go pro by adding automation tools, reservation systems, centralized calendars and inboxes, and a fully equipped website to your business. Dont believe us just yet? Let us prove our expertise with a free 7-day trial.
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Llc Vs Simple Sole Proprietorship For Vacation Rentals
The most significant difference, as implied in the LLC name, is the liability. LLCs omit the need for personal liability, but a Simple Sole Proprietorship does not. A Simple Sole Proprietorship, or SSP, is also limited to one person. At the same time, an LLC is managed by whoever is named a member of the business, making it a better option for couples or vacation rental businesses with multiple owners.
Some homeowners might find that the SSP is a better option due to its simplicity. Its a lot more basic in terms of owner protection, but its also a lot more straightforward as a result. Theres no separation of the business for sole proprietors, which is something to keep in mind. Beyond liability, taxes, fees, and debts are directly tied to the owner, unlike an LLC which acts as some sort of barrier.
Choosing the right option depends on the vacation rental owner. If theres less risk of liability involved, then maybe an SSP would be easier and cheaper. On the other hand, an LLC functions well for property owners who assume more responsibility, such as multi-unit vacation rental businesses.
Book Early & Save On A Winter Getaway
When it comes to finding simply the best vacation rentals, you simply cannot go wrong with our selection at Empty Spaces. Our vacation properties are a highlight of each featured community that will keep you comfortable throughout your stay. Premier home features and incredible guest services make us stand out among all other lodging options that you may have. One other popular feature we offer each year is our early…
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Make Arizona Your Next Getawaychoose From 545 Great Vacation Rentals
Vibrant sunsets, cactus-covered mountains, and incredible natural wonders are just a few things locals and tourists love about Arizona. Although the vast desert beauty can seem barren to Northerners, the jagged peaks, seasonally blossoming cactus flowers, and native wildlife like roadrunners, javelina, and coyote will easily win you over after just one stay in one of our Arizona vacation rentals.
Chandler Arizona Vacation Rentals
For the family oriented traveler Chandler, Arizona is the perfect Destination. The Chandler Mall offers a complete array of shopping, dining, night life and boutique stores.
Chandler is simply beautifula jewel in the desert. Take its beauty and all the things to do in Chandler and you have a great vacation destination. Stay at a Chandler vacation rental and you are certain to have the perfect getaway. With one of our vacation properties, you can experience affordable luxury that offers the convenience and privacy that hotels and resorts simply cant. Many of our residences, homes, condos, villas and apartments have private pools or spas, spacious living areas, outdoor patios and fully equipped kitchens for that
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Pro: Makes Vacation Rental Accounting Easier
Juggling your personal finances alongside a business can be complicated and risky. By making your vacation rental business an LLC, you avoid accidental accounting mistakes or tax miscalculations. Most LLCs are automatically filed as pass-through entities, meaning that the earnings from the company are distributed to the owner. So instead of having to worry about what funds and bills belong to which bank accounts, your net income will go directly to the owners of the LLC. With your earnings streamlined into your account, you wont have to worry about manually distributing income.
When its time to file taxes, the LLC owners will pay based on their personal tax rate rather than a corporate tax rate, another benefit for some owners.
To better keep track of your finances, you can turn to the Lodgify accounting tool. Making your vacation rental an LLC will make your finances more manageable, but Lodgify will completely uncomplicate them altogether.
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Pro: There Are Tax Benefits For Llcs
You might have to spend a bit for the initial cost of an LLC but, for some, the tax benefits make the switch worth it. When you make your vacation rental an official business, youre entitled to more tax write-offs. Depending on the state, some of these deductions could include repairs, property taxes, home loan interest, and operating expenses .