5 Tips to Protect You as an Airbnb Host

The collaborative economy is the new way of doing business. One of the most successful examples is Airbnb. Renting a short-term home through this platform seems like an easy way to get fast cash without so much work or investment, especially with the growing popularity of vacation rentals. However, despite the numbers demonstrating its economic benefits at full scale, this business model has become a challenge for prevention.

Some time ago, regrettable news were released: an American family of two adults and two minors, were found dead in a tourist home in the Riviera Maya. The cause of death, according to the city's Public Prosecutor's Office, was due to asphyxiation by inhalation of toxic gases. An oversight in the maintenance of the residence was the cause of this tragedy.

Cases like this should lead you to think about issues such as: What is the condition of the house or apartment for rent? What kind of protection is there to respond to an incident beyond your control?

According to information from the rental platform, there are 52,500 active members in the country, but globally it has 2 million affiliated guests in 65,000 cities and four million lodging options in 191 countries. This universe of hosts and guests needs to know that transactions will be given in total security. We offer five tips to reduce your risks and become a responsible host.

How to decrease your risks

1. Safety inspection

Hire specialized professionals that can help you detect deterioration that may affect the safety of the property as well as assisting with electrical and gas installation.

2. Compliance with the building code

Ensure that any upgrades or modifications to the original construction are made based on building regulations. Unapproved structures or modifications represent higher risk scenarios.

3. Ensure high-risk areas

If your property has potentially dangerous amenities, leave them out of reach of guests or make sure they meet protection guidelines and guests are aware of the safety standards.

4. Common areas

Although they are off your property, they are part of the amenities your guests will use. Be diligent checking how these areas can operate smoothly. For instance, rusty swings could be a risk for the kids use.

5. Get insured

Although Airbnb has an insurance system that covers certain damages, particular items of your property may remain out of coverage. At GMX Seguros we have studied the potential risks that exist in this business model and offer you a customized policy.

Among other things Novamar Insurance / GMX Seguros provides for you:

• Third Party Liability.
• Legal defense and compensation, for damages caused to third parties, by the activities carried out within the property itself.
• In addition, it is possible to ensureintoxication suffered by those who make temporary use of the property by the consumption of food and beverages, when these are supplied by the insured.
• This policy covers employees and workers in the performance of their functions within the insured property.

 

At Novamar Insurance / GMX Seguros we are constantly changing to offer you the coverages that adapt to new ways of life and business. Contact us to find out more benefits of this product: 52 - 322 297 6440.

 

 

With information from: https://www.gmx.com.mx/blog-gmx/