[apkesh]

Hi, we are a Canadian couple (residents of Canada ) interested in purchasing a condo in Miami, Florida and use it for long term rentals. For tax and liability reasons we are thinking of putting the condo under an LLC. From what we've read, one cannot put both husband and wife's name under a single owner LLC. Is this true? We want to keep the cost on the llc down. Can some with llc knowledge kindly provide some advice?

[derekv]

Why do you need a single owner LLC? It is easy enough to form an LLC with both yourself and your wife as the members. If you both wish to be owners of the investment property, this is the way to go. You can file the articles of organization very easily online at: https://efile.sunbiz.org/llc_file.html

[20yrsinBranson]

Originally Posted by apkesh

Hi, we are a Canadian couple (residents of Canada ) interested in purchasing a condo in Miami, Florida and use it for long term rentals. For tax and liability reasons we are thinking of putting the condo under an LLC. From what we've read, one cannot put both husband and wife's name under a single owner LLC. Is this true? We want to keep the cost on the llc down. Can some with llc knowledge kindly provide some advice?

I don't know the laws in Florida, but in Missouri my husband and I own and operate our business as a single owner LLC. Check with a Florida business attorney if you want to do this. (And I definitely would to protect your liability, since you are going to rent it out).

20yrsinBranson