City Council in Boston is holding a meeting about Airbnb on Tuesday, with plans to discuss regulating rentals in the busy city.
The primary concern amongst officials is that Airbnb and other rental platforms will damage the housing market. According to the proposed ordinances, property owners who use the service will need to register, pay fees, and follow strict requirements.
While there has been no mention of requiring short-term rental insurance, it would be wise to include in the upcoming changes.
Airbnb insurance not only helps protect both the property owners and their guests, it helps ensure only homeowners who are serious and responsible place their home up for rent. In turn, this helps curb the number of complaints and leads to an all-around better experience for everyone involved, including the neighborhoods these rentals are located in.
Furthermore, property owners should strongly consider obtaining comprehensive commercial liability insurance when opening their homes up to strangers. The reason for this is that if a guest is injured, the property owner could be held personally liable.
In fact, many states have already begun to adopt these requirements, making it illegal to operate any type of rental before having adequate liability protection.