One popular and effective option is to set up an entity for your rental property or properties. When you set up an LLC and give the LLC ownership of your rental property, you reduce your personal liability. The only assets at stake are assets owned by the LLC, which doesn’t include personal assets that are in your name. A rental attorney at our firm can help you decide if setting up an LLC is the right choice to protect you, and determine if there are any additional strategies that make sense for your situation.