Both Airbnb & Vrbo promote their "free" liability insurance which extends to all bookings via their platforms. However, both specifically exclude violations of privacy, as seen below. EXCLUSIONS - Personal and Advertising Injury: Injury or alleged injury caused by slander, libel, violations of privacy, advertising, or wrongful eviction. If their free liability insurance does NOT COVER any potential liability exposure for invasion or violation of privacy, such as Airbnb security [...]
The Burlington, Vermont City Council passed the new ordinance on February 22nd, 2022. The hope behind the new ordinance is to curtail the practice of buying properties that will be strictly used as investment properties and short-term rentals. The Vermont Short-Term Rental Association states that this ordinance prohibits any STR that is not a sublet of the owner’s or tenant’s primary residence unless another unit under the host’s ownership [...]
Getting into the world of real estate investment and short-term rentals can be a great way to establish an additional income line while also building relationships with members of your community. How many times have you thought about investing in a short-term rental, but you didn’t know where to start? Platforms like Airbnb, TripAdvisor, and Vrbo have revolutionized the vacation industry, allowing everyday people to operate their own private [...]
Chula Vista, California Vacation Rental Laws Went Into Effect Feb. 1st, 2022. Liability Insurance Requirement Included.
This past December, Chula Vista, California passed a new short-term rental ordinance and certain sections of this regulation went into effect on February 1st. One of the sections that took effect February 1st is Section 5.68.110 - Operational Requirements. This includes items such as 2-day minimum stays, safety requirements, insurance, quiet hours, maximum occupancies, and more. It’s important to understand the new regulations and ensure that you’re in compliance [...]
So you’ve decided to add vacation rentals to your investment portfolio. Proper has a great, comprehensive insurance solution for you. But, what about financing? This article lays out your basic financing options to start and grow your vacation rental portfolio. Vacation Rental Financing Solutions You have five main options to finance the purchase of vacation rental property: Second home loan, agency investment property loan, jumbo loan, bank loan, or [...]
This past week, the Washoe County Board of Commissioners held a meeting, where the Planning Staff provided a presentation on vacation rentals. This presentation included overviews of programming, compliance status, and suggested revisions for the future of vacation rentals in the area. The first reading of a new ordinance will take place in March of 2022 and if it continues to get adopted this will be in May of [...]
Blue Earth County, Minnesota Now Requires Proof of Liability Insurance in New Vacation Rental Regulations
Blue Earth County, Minnesota has recently implemented new regulations for short-term rentals in rural areas. After complaints regarding how poorly vacation rentals are being operated, the county realized that something had to be done about it. The new ordinance now includes application requirements, as well as a $700 fee. All vacation rentals operating prior to the effective date of the standards outlined in the New Ordinance shall be in [...]
Are You Aware of the Liability Insurance Requirement in the NEW Vacation Rental Laws Passed in Encinitas, California?
As of December 8th, 2021, the City of Encinitas, California passed new vacation rental laws under Ordinance NO. 2021-22. The city believes that the amended laws will lead to better regulation of vacation rentals, as neighbors have started to complain. Complaints have ranged from excessive noise complaints to disorderly conduct as well as traffic concerns. Within the new short-term rental laws, they have included regulations relating to quiet hours, [...]
Marble Falls, Texas Includes Liability Insurance Requirement Within NEW Vacation Rental Laws. Effective Jan. 1st, 2022
The Marble Falls, Texas City Council has unanimously voted in favor of new vacation rental laws on Nov. 16th and will take effect on January 1st, 2022. Within the new vacation rental laws, vacation rental hosts will be required to obtain a permit to operate their business within the city, which includes a requirement of $1M in liability insurance. Owners will also be required to register their properties with [...]
Hosts in Kennebunkport, Maine, Is Your Short-Term Rental Licensed? Application Deadline Dec. 31st, 2021.
Is your vacation rental licensed?! If not, you’ve got till December 31st, 2021 to apply, otherwise, you will be in violation of the new ordinance that was approved last June. The goal of license requirements for short-term rentals is to ensure that Kennebunkport, Maine neighborhoods are not overly impacted by vacation rental operations. By requiring licenses for all vacation rentals, the town will be able to better track and [...]