Insights and tips on how to protect your property, giving you and your guests peace of mind.
While the hard insurance market is expected to continue in 2024, property owners may be able to optimize their investments, maintain optimal coverage and limit relative price increases by understanding the influencing factors resonating from months and years past along with the trends and patterns expected to impact future conditions.
Owning a vacation rental business is extremely rewarding, however, it’s still a business and susceptible to taxes. We’re diving in deep about what vacation rental owners need to know about paying taxes in the U.S. and the deductions they may be eligible for.
Energy costs are expected to reach a decade-long high this winter, according to the National Energy Assistance Directors Association. The rising prices will be felt most intensely for properties that rely on natural gas and heating oil.
Phishing attacks are constantly evolving in order to capitalize on our information. Phishing is the fraudulent practice of sending emails claiming to be from reputable companies to induce individuals to reveal personal information. As hackers get better and better at their game, it’s important to know how to spot a suspicious email to help your vacation rental business avoid a cyber breach.
When starting a vacation rental business, there are many things you have to consider. Though it’s an exciting and profitable business, it constantly needs care and must operate like a traditional business. To help reduce the chance of headaches you may have when starting out, we’ve compiled our best tips for getting started on the right foot.
Disinfecting your property can be a lot of work, especially when you are also running a business. Constantly washing linens, vacuuming, and sanitizing the fridge may be draining both physically and mentally. To help lighten your load, we at CBIZ Vacation Rental Insurance put together a list of helpful housekeeping tips for before guest arrival, during their stay, and after they depart.
Although you may not be able to reduce the risk of wildfires occurring in your area, there are measures you can take to reduce the risk of your vacation rental property being lost to a wildfire. While no property is fireproof, the goal is not to allow your home to be a fuel source for spreading the fire. Here are some things to consider as you scan your property for potential fire risks.
In part one of our series, Business Survival Plan: Guide to Finance, we focused on how to be financially secure during a crisis. Part two is about contingency planning to help your prepare for unexpected events and minimize their impact. In this article, we’ll explore how to create your own contingency plans, how to be proactive on decreasing the impact of risks, and why these are essential to the vacation rental industry.
As a small business, you may be trying to determine the right business framework for you — likely either a sole proprietorship or limited liability company (LLC). For many owners, minimizing risk is top of mind, and an LLC is a way to gain added protection in addition to vacation rental insurance.
The Coronavirus has had a significant impact on the travel and hospitality industries, leaving vacation rental property owners with unexpected financial loss. And with many headlines reporting that we are heading into a recession, short-term property owners are undoubtedly concerned for the future. While the total impact of the shutdown of short-term rentals businesses is yet to be seen, success will hinge on the financial planning you do now and when things return to a new normal.