Sarah Bradford highlights some of the advantages and disadvantages of using a property LLP.
When looking to set up a property business, most people will weigh up the pros and cons of operating as an unincorporated property business or as a limited company.
However, these are not the only options available to would-be landlords; another option to consider is operating as a limited liability partnership (LLP).
A property LLP can work well in a family situation. It can also be beneficial where individuals wish to group together to hold property while sharing risk and expertise.
What is an LLP?
An LLP is something of a hybrid between a company and a traditional partnership. Like a limited company, it offers the advantage of limited liability; and like a traditional partnership, it provides the flexibility to agree how to share
