Insights and tips on how to protect your Vacation Rental Property, giving you and your guests peace of mind.
Short-term rental hosts are allowed to use various surveillance devices to protect their property as long as they are disclosed in the listings, including on Airbnb and VRBO and other vacation rental booking sites. Further, while not forbidden on the exterior of the property, they are prohibited in private spaces, such as bedrooms, bathrooms and other sleeping areas. Here are a few security measures you can take to protect your short-term rental.
Attracting the best guests for your property requires a proper vetting protocol to ensure guests leave your vacation rental in the best shape possible. While there will always be small hiccups when renting your property, preventing major violations such as criminal activities, scams, underage parties and violations that are susceptible to risks, injuries, and damages will give you the feeling of security as a host.
Some vacation rental listing sites provide host liability coverage for free or at a reduced cost as part of their service offerings for vacation rental property owners. These types of insurance policies are a good start in managing property owners’ risks. However, relying exclusively on host liability policies could leave you, the property owner, without adequate coverage.
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.
The last thing you want your guests to be thinking about when they walk into your vacation rental property is their safety. You want your guests to know that they are protected and safe at all costs. As a short-term vacation rental property owner, you also want to do everything in your control to make their experience one to remember for the right reasons.
With many continuing to work remotely, there is a new craving for travel and working on “vacation” which has opened up a plethora of opportunities for the short-term vacation rental industry. Simply creating an office space in your rental home, offering a contactless check-in, or being more flexible with your bookings, could increase your business earnings exponentially.
While your vacation rental property may not be your only source of income, it is a business venture. You need the correct type and the right amount of commercial vacation rental property insurance to protect your investment and mitigate your legal liability risk.
As a vacation rental business owner, you have a lot on your plate maintaining and managing your properties. It can be easy to overlook key components that benefit your business. From greeting guests to scheduling property check-ups, each element can make your short-term rental business stand apart from the rest.
CBIZ Vacation Rental Insurance is thrilled to participate in the second annual Vacation Rental Week—the vacation and holiday rental industry’s first of its kind! We’d like to use this opportunity to highlight the value and key benefits of professionally-managed vacation rentals for both guests and property owners alike, and to encourage you to book a stay or choose a professional manager to rent your vacation property.
Becoming a short-term rental owner can be a great way to earn extra money. However, property owners sometimes do not consider the potential risks that can come with owning a vacation rental business.