From my perspective it comes down to a few factors
1. Risk – what are you risking personally by having your own personal financial assets at risk. If you get sued are you risking alot
2. Long term plan – if you are trying to go into the rental business for a long time and may own multiple properties, long term protection feels like a good idea to me.
3. How much personal info do you want your tenant to know?
I personally have gone both ways and had no issues… because I had no issues. I think for future properties I will probably setup 1 LLC to manage multiple until the total assets are too high to risk 1 tenant going after all of it etc.
My last property had a fee schedule posted for the year and then halfway through the year they voted to double it. In year 2 they voted to increase again. They kept to that fee schedule but they saw costs go up to manage and passed it along. Feels like a risk I want to avoid next time
Is there language that I could put in my lease that states the gun owner needs a gun safe or something to reduce the risk of issue?
