Can anyone shed some light on the best possible approach If I plan on owning multiple parks? Are there an insurance/liability reasons for one or the other?
I would also like to see the experts response on the subject. I know boot camp suggests hiring under the management company but I would like to hear why
I had a contractor fall off a common area building and get seriously hurt so I’ve been thinking about this a lot lately. A friend here that owns multiple parks hires everyone through his management LLC. I imagine that if it gets sued, he can easily fold it, move the employees over to a new management LLC. Only the bare minimum cash is pushed up into it from the parks. He’s got LLCs for mortgages/rent credit, and LLC for heavy construction machines, etc. I know his structure is ultimately to protect the parks from liability but I have not been able to lock him down for a high level explanation.