170. Does Your Short-term Rental Need Additional Insurance?

In the world of long-term rentals we do a lot of screening before we put a tenant in one of our properties. We don't want someone getting in there not taking care of the property, and on top of that having a legal right to the property without some sort of financial reserve; that's why we always get a deposit and in many cases first and last month's rent.

In the world of short-term rentals however, many people are not getting security deposits. They are relying on Airbnb to cover their back should something go wrong. But what if Airbnb doesn't cover your back? What can you do to add additional protection to your properties?

This week we will discuss some additional insurance you may want to take out:

• Airbnb protection

• Every other OTA protection

• Your essential protections steps 

• How much of a deposit? 

• Is your deposit adequate to cover damages? 

• What happens if you have no deposit and no OTA protection

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