Can i Iose my house renting bicycles from garage if someone falls?

Just started a bicycle rental service from my parents garage. Theres busy bike trails 60 seconds down the road in a national park. Have an LLC and business insurance (Next-Insurance) but am still leary of being sued if someone falls and losing the house (beautiful home $350K). Should i be worried?

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  • 1 month ago

    If you have a business license, you should ALSO have a legal rental agreement stating responsibility in case of injury. In cases of negligence or if you don't maintain your bikes, yes--someone could definitely sue you and take your house. However--you say you have an LLC?  Isn't that a Limited Liability Company?  That means you are NOT liable in case of accident or misuse--but someone may STILL be able to sue you if they are claiming negligence or faulty equipment--however, I believe in the case of an LLC they have to sue the COMPANY--not the owner of the business. 

    Check with a lawyer here--and make sure your rental agreement is signed by both parties and properly executed and contains a clause or two about who is responsible for which problems. Just cover everything you can think of. 

    And by the way--yes you CAN run a business in a residence. People do it all the time.  

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  • 1 month ago

    You may be in violation of 3 or 4 laws.  Consult a lawyer.  For example, does the city/area even allow you to operate a business from the residential location?

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  • 1 month ago

    The house isn't your property, for one. LLC means "limited liability corporation". This makes your business it's own person, which is separate and apart from you and your personal assets. In either case, though your parents house isn't your property.

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  • n2mama
    Lv 7
    1 month ago

    Is the house YOUR house or do you just live there? You say you started the business from your parents garage, which would imply it is their house, not your house. If the house isn’t in your name at all and you are just living there, nobody can take something from you that doesn’t belong to you. 

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  • 1 month ago

    Not unless you are titled to the property (i.e. you can't lose anything that isn't yours to begin with).  The exception would be if you were a minor, but that isn't likely because you can't establish an LLC as a minor.

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  • 1 month ago

    The main question to answer does zoning permit a business to be run out of home?  Better check with the zoning department.

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  • LILL
    Lv 7
    1 month ago

    Have the renters sign a liability waiver.

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  • Scott
    Lv 7
    1 month ago

    Not if you have enough liability insurance.

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  • 1 month ago

    liability waivers DO NOT prevent lawsuits from business negligence

    what did your lawyer say?  and is it zoned for business?  if not, the city can shut you down.  do you have good house insurance?  if they fall on the property they will probably sue over that.

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  • 1 month ago

    Did you rent the person a defective bicycle or something

    • Buck BUCK1 month agoReport

      no just thinking ahead

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