Many home owners are hosting short-term renters in their own homes in Airbnb. Unfortunately, having travelers in your home can cause potential problems if these temporary guests cause damages that your homeowners insurance does not cover. Unexpected financial and legal issues can arise, and these costs may go well above the funds you have made by renting your home.
The major risks to consider before renting through Airbnb include liabilities such as guest injuries and damage to neighboring properties and tenants who decide not to pay their bill. In addition to this, most homeowner’s insurance policies do not cover short-term rentals. Because the coverage offered by Airbnb is secondary, you will still have to spend money out of pocket before the coverage begins. Learn more: http://hackronym.com/wealth-solutions-insurance-and-other-considerations-when-renting-on-airbnb/
Before you rent out your home, it’s important that you work with an investment manager and/or an insurance professional. Richard Blair has been working in this field for over twenty years. He is the owner and executive director of the Austin, Texas based Wealth Solutions, Inc.
Mr. Blair was educated in finance and financial management services at the University of Houston, and he received his Bachelor’s degree at this institution. Because of his respect for education, Mr. Blair has worked hard to obtain many professional certifications and licenses, including:
- Certified Fund Specialist®
- Certified Tax Specialist™
- Retirement Income Certified Professional®
- Certified Estate and Trust Specialist™
- Certified Annuity Specialist®
- Registered Investment Advisor
- Certified Income Specialist™
After completing his education, Mr. Blair wished to assist others in planning their financial futures. He created Wealth Solutions in 1994 to further this goal. During his years of service, Mr. Blair has gained a wealth of knowledge in helping others plan for successful retirement.
Wealth Solutions brings cutting edge products and comprehensive services to those who wish to properly manage their wealth. Mr. Blair’s company can create a diversified portfolio that offers optimum results and a low chance of risk. The company’s goal is to assist business owners, families, and individuals in making deliberate financial decisions for the betterment of the future. Both Blair and his company offer financial planning, funding information for individuals with high net worth, and other advising services.
Check out Richard Blair on LinkedIn