Insights and tips on how to protect your property, giving you and your guests peace of mind.
With the demand for vacation rentals increasing, so too have the vacation rental rules and regulations. Considering that these days it is a recognized and very popular industry, it makes sense that there should be some set of rules to protect the professional image of the vacation rental industry, after all. That being said, in many instances, objections from the broader community have meant that the regulations that cities impose are quite strict.
Owning and operating a short-term rental property can be rewarding. However, owners have to manage numerous exposures related to lodging, and many offer amenities that can dramatically increase the number of risks. Assessing your exposures and taking the appropriate precautions can go a long way toward protecting your business.
Welcome to the world of running a short-term rental vacation property. While owning an additional property and renting it out to others can make a good amount of money, there is a lot that happens behind the scenes. With decades of experience helping owners insure their most prized assets, we have seen it all and spoken to many amazing people.
The reality of renting out your home to guests is that vacation renters can, and often do, sue property owners and managers. When guests feel they’ve been harmed by the property owner’s or manager’s actions or negligence, they might find that their only recourse is to take a property owner to court. Those expenses can add up quickly. In addition, there’s the stress of wondering how you will pay a judgment if one is ordered. Without adequate coverage, your business and your personal assets could be at risk.
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.
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.
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.
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.
’Tis the season to be on the lookout for common holiday hazards at your vacation rental. No one wants to be on Santa’s naughty list when you can easily avoid these potential problems. The holidays can be overwhelming with so much to do and so little time, and it’s easy to overlook basic rental risks. Set aside a few minutes away from the hustle and bustle to prepare your property for hazards and remind your guests to take safety precautions seriously.
As COVID cases begin to rise again, remote work is becoming a new normal for many. For vacation rental property owners, working remotely or in a different state than your property can be a difficult task.To help keep your rental business running smoothly, we compiled a list of seven tips for successful remote management.