Didn’t you know renting out your home is the fab everyone is talking about. Via the online service Airbnb you can rent out your home or even your entire property for any kind of occasion. It is a great concept both from the host's and the renters point of view -- provided everyone plays by the rules.
Sadly, that's not always the case and the news media frequently report on homes that have been trashed, leaving owners not only to pick up the mess but also the bills for costly repairs and replacements.
We here at Ferranti-Graybeal can insure you of how to prevent from unwanted cost and damages!
5 tips for protecting yourself:
1. If you're not going to be around, and the property is your main home, secure your mail, either via a locking mailbox or using a PO Box for redirected mail.
2. Lock your valuables away and make sure the contents of your home are properly insured. "Though Airbnb has an insurance system that covers certain types of damage, they don’t protect debit or credit cards, checks or financial papers, jewelry, etc.," she says. (Speak to us if you'd like to discuss contents insurance for your rental property)
3. If you offer Wi-Fi, protect the details of your system. You can set up a guest-only network. And by connecting via a Virtual Private Network (VPN), their Internet activities won’t be traceable to your home. (Google "VPN" to learn more about how to do this.)
4. In addition to checking out the renter's profile, create an emergency plan for them, explaining safety issues in the home, locating features like fire extinguishers, and providing a list of emergency numbers.
5. Install a security system. "With a security system, you can monitor what goes on in your home," she says. "In addition, outfitting your home with a home security system may earn you more bookings as it provides your guests with an extra layer of security which may not be available in other rentals they are also considering."