Extra house insurance?

[Kathleen644]

Hello family . . .      😄

I'm so new to this as in like TODAY!!  Excited and scared at the same time.  We're planning on going with a vacation rental manager just to start out but I wonder?  Also, does one need to take out extra house insurance when renting out their downstairs portion of the house?

Thanks for your support!

Kathleen in Penticton, B.C.

[Sharon1014]

@Kathleen644  Welcome to the family! It sure is a big day when you first list and your first guest arrives.  Entirely your choice about using a rental manager or managing the listing yourself.  Depends on costs and your required profit margins.  Our nearest "competition" in our location uses a rental manager, and the "cleaning cost" is astronomical (2 times the cost of 1 night's accom)  presumably to cover the agent's letting fee.  Rental managers don't work 24/7 either - many guests will contact you out of hours so that is also something to take into consideration.

As for house insurance, while Airbnb does have a security deposit figure, claiming on this can be difficult.  You would need to consult an external insurance provider and discuss with them. Depends a little on your local laws etc.

Just a heads up, when your first guest books, let them know they are your first guests and ask them to msg you privately about how they found the place, was there anything more that they thought was needed, and any problems they found, emphasizing that the feedback will be really helpful to you and future guests.

[Sarah977]

@Kathleen644  Airbnb really doesn't provide any insurance for hosts, despite their "million dollar guarantee" claims. Hosts have had thosands of dollars worth of damage done to their places and not been able to recoup a penny of it. You definitely need your own STR insurance.

[Juan63]

A rental manager sounds nice but unless you have a very high rate and very low expenses, I don't see how you will be very profitable with one. For our whole house rental, basic homeowners insurance will NOT cover our rental. We had to go with a specialized insurance with commercial protections. It costs us about $1700 a year. We use Proper insurance.

[Marta-Stella0]

Hola gente amiga 

Estoy de acuerdo con tener un seguro particular pero no olvidar que para el caso de tener que hacerlo efectivo se deben tener pago y al día todos los impuestos y otras exigencias que cada país tiene para alquileres temporales , sino es así el seguro no corre y hasta los inquilinos te pueden demandar por daños y perjuicios .Lo mismo vale para tener todo el sistema de conexión eléctrica, gas y otros. 

Si recibes niños debes contar con la seguridad exigida para ellos , por ejemplo redes en ventanas peligrosas o balcones. 

Accesorarse bien para ganar en tranquilidad todos Anfitriones y 

Huéspedes 

 Cariños Marta Stella