There are many things to consider when it comes to renting on airbnb. For many individuals, being able to rent their entire house, or just a part of it on airbnb. Airbnb makes it possible for homeowners to get cash that they need to pay for the property, just by simply hosting those that are traveling for a small period of time. But anytime that you are renting a house, there is a number of unexpected problems that could occur. There can be damage done by the renters that may not be covered by the owners homeowners insurance may not be able to cover. This leaving the amateur
hoteliers with both financial issues that they may not have anticipated. And the issues could end up costing more then what the homeowners had rented the property for. Some of the issues that could occur when the homeowners are considering renting their home through airbnb or any other organizations can include insurance coverage, risks, and protection. There are many possible risk that can occur when renting out your house to tenants. With potential tenants, some of the risk that you may run into is damage to your or neighbors property, illegal activities, injuries to the guest, or even a lawsuit based on tenants actions. In many homeowners policies, short term rentals are not covered, this means that if any damage occurs, then as the homeowner, you are liable and responsible for any expenses that may occur by the paid guest. As for homeowners who are considering renting out their home, it is important for their protection that they speak with an insurance profession or a wealth and investment manager, such as Richard Blair with Wealth Solutions, Inc.
Since Blair’s early years of college, he has always had a passion in educating and assisting others with personal financial endeavors. And with this passion, he created wealth solutions immediately following his graduation from college in 1994. Also, through his commitment to investment and financial planning, it has compelled him in continually educating himself on the latest advanced techniques and trends that are offered through the industry. Richard Blair, is now an Investment Adviser Representative that works at Wealth Solutions, Inc., which is located in Bee Cave,
TX. Blair has over 23 years of experience within the financial industry, in addition to this he has took additional exams in order to become certified as a financial planner. In order to get the CFP, Blair had to pass a comprehensive CFP certification,
then pass the CFP boards fitness standards for registrants and candidates, and then agree to abide with the CFP boards code of ethics and professional responsibility and rules of conduct. https://www.wealthminder.com/financial-advisors/TX/bee-cave/richard-blair/326407