Renting property through AirBNB is a quickly becoming a new source for quick money for property owners in certain areas, and may be an attractive possibility for many people, however there are risks involved with renting your property and you should be aware of all of them.
Incorporate these possible risks when thinking about renting on AirBNB: liability any injuries to renters, property damage to yours or the neighbors, theft, or illegal drug or other activities on your property. Additionally, some tenants have found ways to get out of paying completely.
There isn’t much for Insurance coverage when dealing with short-term renting such as AirBNB.
Secondary protection given via AirBNB only works if you have exhausted all of your own resources for damages!
After assessing these types of risks with renting, it is advised to still speak with a qualified insurance professional or investment manager. Richard Blair, sole owner of Wealth Solutions, Inc. can help you understand the options you have and produce advice that is tailored to your needs and situation. Blair’s Wealth Solutions has existed in capital management for 22 years and operates with over $54 million in assets.
The company offers customized and collaborative strategies that include:
• Expert and trusted professional financial advice.
• Specifically tailored investment goals.
• Personalized asset management solutions.
• Constant 24-hour access to available investment options.
• Great account security.
Blair holds the following certifications
Certified Annuity Specialist® (CAS®)
Registered Investment Advisor (RIA)
Certified Fund Specialist® (CFS®)
Certified Estate and Trust Specialist™ (CES™)
Certified Tax Specialist™ (CTS™)
Retirement Income Certified Professional® (RICP®)
Certified Income Specialist™ (CIS™)
Richard Dwayne Blair’s involvment with wealth management and financial planning has propelled him to constantly stay educated on the most cutting edge trends, advanced technologies, and analyses offered in financial industry sector. His early years at the University of Houston showed he had a passion for educating, informing, and assisting others by optimizing their investment management. This passion has brought him into the financial sector immediately after finishing his education in University of Houston and has led him to develop Wealth Solutions 22 years ago. Wealth Solutions offers professional financial strategies and innovative solutions for investment portfolios with an ultimate goal to lower taxes, heighten benefits, deliver estate investing ideas, and creating consistent income streams.
Learn more: https://www.crunchbase.com/person/richard-blair