1) Setup An Active And Correct Insurance Policy Or Coverage
Before listing your property with Airbnb, you must understand that risks are inevitable. Setting up an active and correct insurance policy for protection against such risks is a must for you. You can simply use Airbnb Liability insurance or discuss with us before taking the deep dive with your Airbnb listing.
2) Know About the Taxes
Operating an Airbnb rental business could attract some taxes on your earnings which, of course, is best to have a concrete knowledge of such taxes. Let us know upfront if you’re just earning some extra money from your Airbnb hosting or plan to use Airbnb as an active revenue stream. We can guide you in the right direction so that you can avoid unnecessary taxes.
3) Understand Landlord and Building Regulations
There are strict rules against Airbnb in many cities or suburbs. If you’re planning to host a property on Airbnb that isn’t a personal property, you must think carefully how you’ll want to reach out and communicate with the landlord. Listing your property without landlord’s or property management’s consent may be illegal. While the side income is nice, getting into any legal matter just isn’t worth it.
Let us, at Hello, Suburbia, help take the hassle out of making sure you are covered for any legal liabilities, taxes and insurance policies related to your listing.