FRIDAY, MAY 21, 2021
Keeping Renters Safe in Your Short Term Rental
Sometimes, the standard hotel just doesn’t suit a traveler’s needs. Some travelers use rental services like VRBO, Airbnb or other providers to find the perfect places to stay.
Many homeowners find short-term rental services valuable ways to earn extra money. If they have extra space at home, or own properties expressly to rent, doing so might provide benefits. Still, inviting a paying guest onto your property might pose safety risks to the visitor. Rental owners should take proper measures to protect their visitors. This likely involves safety precautions and insurance coverage.
Getting Your Home Ready for a Short-Term Renter
Rental guests might stay days or weeks. Reputable guests will likely depend on you to provide a safe environment for them. Before your guests arrive, take the time to make your home more secure. The first step you should take is to enroll in the right insurance coverage to protect your rental.
Often, standard liability and home insurance won’t provide coverage for short-term rentals. You will likely need specialized liability insurance to protect you. It might cover you if a guest claims that you caused harm or property damage to them. It might also cover damage the renter does to someone else’s property while they stay at your property.
Talk to your property insurance agent about your intentions to offer short-term rentals. They can likely point you in the right direction to help you insure yourself. It might take more than one specialty policy to effectively insure your home.
Afterwards, set out to reduce safety risks around your home. Steps to take might include:
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Reading your rental company’s code of conduct. You will likely have to follow certain standards for managing the rental. Ensure that both you and the renters complete all clerical tasks.
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Looking around your home for danger zones. These might exist in kitchen, bathrooms, on staircases or anywhere hazards might exist. If you notice any hazards - such as slippery walkways or broken stairs - fix them. Mark fuse boxes, water heaters or other burn risks.
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Placing off-limits signs in areas you don’t want guests to access. Make sure you don’t deny guests access to essential spaces. Check your rental agreement to see which areas you can restrict guests from entering.
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Telling guests about any existing risks within the home. If they come to you with concerns or questions, respond appropriately.
Should issues develop between you and guests, act politely when settling the situation. Appeal to higher authorities, including your insurance agent, as needed. Do everything you can to make sure the situation is handled properly.
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