Insights and tips on how to protect your property, giving you and your guests peace of mind.
As the warmth of spring approaches, it’s easy to forget the effect that harsh winter weather may have on your vacation rental. A bit of spring maintenance now can prevent costly repair bills later and there is no better time to take a look around and see how best to protect your property from hazards.
Owning a vacant home can pose serious liabilities due to it being more susceptible to vandalism, undetected repairs, fire and other losses. The insurance risks associated with owning vacant property can be extensive, and to ensure you are adequately protected, it's important to know the risks.
Few things can cause as much dread for a vacation rental property owner than the words “You’ve got bed bugs!” Taking preventive measures can help you avoid the aftermath of a bed bug infestation, but despite your best efforts, the nature of your business means you’re at risk.
No matter what safety precautions you have in place or how well you maintain your short-term rental property, a vacationer could become injured or claim that your negligence caused damage to their property at any time. If you are named as the responsible party in such a suit, you need to defend yourself against the charges – even if you believe that your actions (or inactions) did not contribute to the renter’s injuries.
Finding the correct insurance to cover your business and properties, is challenging enough. Not all policies are created equal and there are an overwhelming amount of options. On behalf of the CBIZ Property Insurance team, we are excited to share that we have expanded our insurance solutions to include more than just short-term rental properties.
While we’re nearing the end of “hurricane” season, with climate change and more active weather patterns, it can last longer or begin earlier. Therefore, you, your family and your guests need to be prepared when a hurricane strikes. Use the following guidance to stay safe and limit potential damage in the event of a hurricane.
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.
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.
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.