Three Things to Ask Before You Pay For You Vacation Rental

Are you planning on renting a home this summer from a website like HomeAway or AirBNB?

Here are three questions you need to ask before you decide!

1. Is the home you are going to rent a “legal” rental?
   • Many homes in Florida are being rented illegally right now. A lot of Pinellas County cities already have laws on the books that make it illegal to rent a home for a time period shorter than one month. Some cities like St. Pete Beach have laws that go as far as allowing only three month rental periods or longer! Most renters never realize they are staying in a home whose owners are breaking the law.
2. Does the owner that is renting the home have the proper insurance to cover rentals?
   • Home owner insurance policies do NOT cover a short term renter if they are hurt. Regular homeowners insurance policies provide personal liability insurance NOT commercial liability insurance. Personal liability will not cover anyone that has exchanged money to stay at a residence. There are many insurance options for owners that are renting out their homes for short term vacation rentals now though. Make sure to ask for a copy of the commercial liability policy before you commit to the rental! If the home owner will not supply you with one, it’s time to move on.
3. Do you personally need to take out extra insurance when you rent a short term vacation rental?
   • Even if the home you are renting has the proper insurance that covers short term rentals, you may still want to consider paying for your own policy that can cover you while you’re on vacation. You never know what can happen when you’re on vacation and do you really want to be responsible if someone accidentally breaks something in the home? Insurance like this should generally costs about 10% of the total rental amount for basic coverage. *Adding this cost into your vacation budget can make the difference between a well-rested vacation and a stressful one.*

These three questions can save you from huge troubles if you go through renting a short term vacation rental.

One more additional question you should ask to prevent a vacation goer headache is: What is the parking situation? A lot of beach towns have VERY specific laws regarding parking and usually require special permits to park. Are you being provided permits? If so, how many permits will you be given? These are important questions that can save you (and your family) from the pain of dealing with tickets or being towed.