Rental property- LLC or Land Trust?

[NoMoreE46]

So we maybe setting up a rental property (SF home in Florida.)  We plan to have a management company handle everything.

Does anyone know the pros and cons for a LLC vs a Land Trust ?  

[pizzadude]

Is this only for a single property ?  If so I think you could probably do everything with just an LLC.   Are you planning major expenditures like rebuilding / refurbishing ?

Also if you haven't already I'd seek professional advice, like a tax attorney who can help you understand issues around taxation, etc..

[wasCB14]

California here. We own everything through trusts created decades ago for estate planning purposes. For newer investors, LLCs seem to be the preferred choice.

IANAL and especially not a FL lawyer. There may be some local regulatory consideration that favors one approach over another.

[Creditplz]

We (my family) have everything under a trust, 4 properties 11 units here in LA. 

I have 3 properties under a LLC myself. Best advice would be to consult a tax attorney. 

[wasCB14]

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@Creditplz wrote:

We (my family) have everything under a trust, 4 properties 11 units here in LA. 

I have 3 properties under a LLC myself. Best advice would be to consult a tax attorney. 

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Keep in mind there may be factors other than taxation.

For example: Assembly Bill 1482 regulates rent control in much of California. How a landlord holds property (trust vs. corporation, even one LLC vs. another) can (in somewhat limited circumstances) affect whether or not AB 1482 applies to a property.