Reviewed and updated 6/29/2020

City Council members in Baltimore recently chose to delay their plans to introduce strict new short-term rental laws for companies like VRBO and Airbnb. The planned ordinance would have effectively banned property owners from renting out their property if it wasn’t their primary residence. Other changes include increased tax rates and licensing requirements but no mention of vacation property rental insurance was mentioned.

Update: Hosts like yourself must obtain a biennial short-term rental permit through the City ($200) and include the license number on all listing platforms. Your home must also serve as your primary residence in order to receive the permit. View the complete ordinance from the Baltimore city government website, Article 15: Licensing and Regulation

Verify your short-term rental insurance

Across the US, properties are being converted to full-time short-term rental properties, often homes that serve as a host’s primary residence. As short-term rentals come with immense property and liability exposures, it’s important that you make sure you have the best insurance coverage to protect your business. Traditional homeowners policies exclude coverage for “business activity” (i.e. short-term rental), meaning, the policy you currently have may not be enough.

With a policy from Proper Insurance, you will have comprehensive short-term rental insurance to cover your primary residence or investment property. Proper provides coverage for building, contents, income, and liability ($1,000,000 commercial general liability and an additional $1,000,000 if the property is also your primary residence).

Call Proper Insurance today to discuss the best policy for your short-term rental business – (888) 631-6680!

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