Like many of you, I am renting out a couple of rooms in my house as AirBnbs. I am concerned about certain tax and legal issues. In particular, how will this affect my homestead exemption? Will I be able to set up an LLC for my property? I live in Texas. I appreciate any help you can give me.
I rent on Airbnb and it doesn’t affect my homestead exemption. But if you vacated the property and started renting it out, it might. As for an LLC, you should consult an attorney and maybe a tax professional as well.