Hosting on behalf of my parents - insurance (NO)

[Ingrid-Beate0]

Hi! My parents want to rent out a small apartment that they own, but I will be responsible for bookings, communicating with the guests etc as I live close to the place. 

They've spoken with their insurance company and have been told that there is no issue with using it for AirBnb as long as my father is listed as the owner and the person renting the place out. 

Does this mean that it has to be his name used as the user, or can we state somewhere that he is the owner but that I (his daughter) will be the one to contact? 

Anyone with a similar set-up? 

(Located in Norway)

[Mike-And-Jane0]

@Ingrid-Beate0 It sounds like your father needs to be the host to satisfy the insurers. You can set up with your father as host and you as co host. However some functions cannot be carried out by the co host. 

You do not mention who will be benefiting from the rental money (and more importantly paying tax) but you cab split the payments between host and co host.

Now for the naughty bit..... There is nothing stopping (to my knowledge) a trusting Host giving his password to a trusted co host so that you will be able to perform every function necessary.

Also, as you can see from our username whilst the account is in one name (Mike I think) we host as Mike-and-Jane so people know who may be communicating with them. Several people do this although I always worry we will fail verification one day......

[Sybe]

@Mike-And-Jane0 I like the idea of going the co-host route, though as you can probably expect I can't endorse sharing passwords. Please keep your passwords safe and to yourself, not just for your Airbnb account (or Netflix account!). Account security and cybersecurity in general is getting ever more important in a rapidly digitalising world!

[Mike-And-Jane0]

@Sybe Totally agree on password security but if you can't trust your wife or father.............

According to @Helen744 co-hosts can now access anything on the account (although I am not sure about damage claims) so it should be fine using a co-host.

Whether the tax authorities care about names I just don't know as in the UK married couples can direct the income as they see fit so it probably doesn't matter what Airbnb report to them.

[Sybe]

@Mike-And-Jane0 That's starting to sound more like a separate problem! 😆

The 2023 Summer Release did bring some changes to managing Co-Hosts in your account including new permission sets, of which one can give Co-Hosts full access. @Ingrid-Beate0 You can read more about Co-Host permissions here: https://www.airbnb.com/help/article/1534

Do keep in mind that even with "full access" permissions, there are still some things only the Host can do like submitting requests for reimbursement under Host damage protection. 

[Helen744]

@Mike-And -Jane I suspect that as a married couple then you are for tax purposes interchangeable in both the home ownership , tax and in fact Airbnb, although Airbnb does not seem to recognise that through previous host co host arrangements but the income goes to both of you , although it is sometimes judicious to split it. The tax , Str insurance and as you point out Airbnb damages insurance is administered via the 'legal owner' although how this is handled by arbitrage companies is beyond me . A good tax agent a competent understanding of the dashboard , an agreement with family as to compensation and decent insurance should set you up because at the end of the day , the person doing the work needs to be recognised on the dashboard for the purpose of 'hosting ' and day to day administration . I do not think it would be possible for you to shoulder 'all of the responsibility ' nor should you because at the end of the day the underlying capital assett is not yours. These of course are family matters.. again Good Luck .. Its both easier and harder than it seems ... H

[Mike-And-Jane0]

@Helen744 Tax law in England is weird. If we were renting long term then the income has to be slit 50/50. Because we rent short term it is classed as a Furnished Holiday Let so we can split the income as we want (which means I get nothing!). Hey ho.......

[Helen744]

@Mike-And-Jane0 Ha ha .. the 'unofficial laws of marriage 'are beyond me too.... H

[Ingrid-Beate0]

Thanks for the reply @Mike-And-Jane0 , this was very useful. We'll definitely look into co-hosting first! 

[Helen744]

@Ingrid-Beate0 I think it only means that the owner is the name on the insurance policy and the Title.Maybe it is both your parents .If the insurance is for STR then its obvious that your father does not live there.Unless it is a home share situation then you can be the host but the income needs to go to your parents account from which you would be paid , but both host and co host can now access all parts of the account,  but you need to speak again to the insurance agent as that does not seem to be accurate, but look through Airbnbs requirements  for hosts and co hosts. Airbnb have rules that are different to STR insurance companies, and separate... go slow , get to know the dashboard , talk to the insurance Agents talk to CS if you dont understand anything . Check all of the account requirements before filling it in . Get it right the first time and you will be fine... good Luck .. H

[Ingrid-Beate0]

Thank you @Helen744 ! We'll look into co-hosting and see if that is something that could work for us 🙂