How to Best Regulate Airbnb’s and Vrbo’s
In the counties of Ulster and Dutchess, various forms of regulation have been proposed in order to tackle many of these concerns. One such example includes the prohibition of room conversions. That is, taking rooms that were not originally designed as bedrooms (i.e storage, studies, offices) and converting them to serve as bedrooms. Other regulations address safety concerns whereby rooms and facilities were up to code. Making sure that there were adequate fire escapes were among the conditions being proposed. As a whole, the short-term rental industry benefits from regulation as opposed to outright bans.
Compromise, Except on Insurance
Compromises are the best way to ensure that the concerns of all concerned parties are represented. In this case, the aforementioned counties recognized the economic benefit that the short-term rental market can provide. In addition, they have entertained the concerns of the permanent residents of the area. Many localities have passed requirements that operators of short-term rentals obtain liability insurance for the properties that they are renting. Doing so ensures that neighbors of these properties are protected from the rare, although unfortunate side effects of operating a short-term rental. In short, being insured means being a good neighbor. Making sure your property is properly insured is key, regardless of the community’s regulatory stipulations. Commercial insurance for the short term rental business you operate is necessary, while fully complying and often exceeding the insurance often required by the city, or county your Airbnb business is located in. Get a quote here, or call us at 888-631-6680.