Hosts in Oklahoma City are required to secure an annual $24 short-term rental license to operate out of their primary residence, as well as remit applicable hotel and sales taxes to the City and the Oklahoma Tax Commission. 

The following are required documents to secure a short-term rental license:

  • Home sharing application
  • Home sharing affidavit
  • Zoning verification (completed by city staff)
  • Proof of property ownership (county assessor, mortgage) or authorization from property manager if applicant is a tenant. 
  • Proof that the property is the primary residence of the host (photo ID, automobile registration, voters registration).

The fact of the matter is the City would not require these details unless they considered short-term rental operations to be a business. 

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Do hosts need business insurance?

As hosts in Oklahoma City are running a short-term rental business out of their primary residence it is extremely important to secure proper insurance that covers normal, everyday living as well as short-term rental activity. Hosts are handing the keys to guests they do not know and giving them access to their home. If the property is damaged, hosts are also repairing their own home, not just a rental, and without the correct coverage they will be paying out of pocket.

Proper Insurance custom penned their policy for short-term rental properties (Airbnb, Vrbo, etc.) designed to completely replace the hosts’ current policy. It includes coverage for building, contents, income, and liability. The liability coverage ($1,000,000/$2,000,000) includes an additional $1,000,000 of personal liability for homes that also serve as the hosts’ primary residence. 

Proper encourages hosts to ask their current agent specific questions relating to their short-term rental and get answers in writing from the company’s underwriter. Example questions would be: 

  • If a guest is injured while staying at my short-term rental property, do I have liability coverage to the limits of insurance?
  • Do I have full coverage if a guest intentionally or accidentally damages my short-term rental property? 
  • Do I have full lost booking income coverage if my property is damaged and I can’t short-term rent while repairing the property?

With Proper Insurance, the answer to each of these is YES. 

Have more questions for Proper? Give our office a call at (888) 631-6680 and take 5 minutes to submit a quote request online. 

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