I own a couple of domains where I currently have "WHOIS privacy", so my contact info is not revealed in the WHOIS database. I've learned that this arrangement has a significant pitfall, that is, it's the privacy company that really owns the domain, and they license it to me. That seems bad.
I'm not a business, so the only address I can currently list is my home address, which I'm uncomfortable doing.
Therefore, I was thinking about renting a small P.O. box and using that as the address of record. Are there any significant drawbacks of this approach?
One possibility is that people might actually send me snail mail that I need to see, meaning that I might need to actually check the P.O. box instead of ignoring it. Does this happen? (I haven't had any forwarded to me in ~10 years of owning a domain, but that could mean I just haven't caught the attention of folks who would do it.)
Are there other risks or drawbacks?
Here's some advice:
Stop worrying about it.
I'm not sure why, but many people have an unjustified paranoia about things internet related. Your personal information is available to almost anyone via dozens of ways.
Your bank, the gas station, the restaurant you had lunch at, the post office, etc. all have information about you, available to a wide swath of people that you have no idea even have access to the information, that puts you at far greater risk then anything in your WHOIS information.
This is generally not the case.
ICANN recognizes two types of WHOIS privacy services: "privacy services" and "proxy services". Their explanation of the difference is that:
The vast majority of WHOIS privacy services provided by registrars are, indeed, privacy services. They do not register the domain on your behalf, and do not take on any of the responsibilities of a domain registrant. The domain still belongs to you, regardless of whose name happens to appear in the WHOIS information.
True WHOIS proxy services are rare. As they take legal responsibility for your domain name, registering a domain through a proxy service is typically much more expensive than registering it normally. Since they are considered the legal owners of the domain, "enabling" or "disabling" a proxy service will require a domain transfer, unlike a privacy service, which can be enabled or disabled simply by changing the domain's contact information.
(Confusingly, "Domains By Proxy" -- a brand used by GoDaddy -- is actually a WHOIS privacy service.)
I have all of the mail from my domains come to my work address. If people need to get ahold of you they generally wont use the whois record to find you. That being said I get about 5 pieces of junk mail a month from the "domain registry of america". I can not see any drawbacks of putting your P.O. as the address on your whois record just so long as you put your real name on the record.