Many homeowners are not renting a part of all other homes on Airbnb for some quick cash. It is an easy way to make extra money to pay the mortgage or do repairs on the house. The concept is to rent out rooms or the whole house to travelers who are visiting their city for a short period of time, like a week or two. The visitors pay a set amount and that is it. Read more: http://hackronym.com/wealth-solutions-insurance-and-other-considerations-when-renting-on-airbnb/
Some homeowners are finding out that these temporary house guests can do a lot of damage to their home and potentially cause them legal problems. If the travelers damage your home, many homeowner’s insurance policies will not cover this damage. This has put many homeowner’s in a difficult financial situation. Sometimes the damages cost more money than the rental amount, putting them in the hole, if their insurance does not cover them. Sometimes the short term renters do not pay the rental fees. Your neighbors may complain about the situation and if their property is damaged they can bring legal action against you for damages.
Richard Blair of Wealth Solutions, Inc. can help you review your insurance coverage and other options before you jump into Airbnb Rentals. He has been involved with securities for over 22 years in the Austin Texas area. He does financial planning and gives security advice to high net worth individuals. He can make sure that you have adequate insurance coverage on your home before you start renting your property. He can also provide other financial services as well.
Wealth Solutions, Inc. is dedicated to helping investors reach their persona financial goals successfully. Richard offers complete financial reviews and will create a professional investment portfolio to meet your goals and risk tolerance level. He provides wealth management strategies to those wanting to move forward with confidence in a volatile marketplace.
Wealth Solutions, is a professional investment services firm, that uses time tested procedures to deliver innovative services and products to customers. Richard is registered as an Estate and Trust Specialist, Investment Advisor, and an Annuity Specialist. He also provides innovative investment options that can help clients meet their financial objectives.
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