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 Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. Get a copy of my 12 proven house rules to protect your property from almost every negative situation (highly recommended)  You can find all of our links here including our website, recommended resources, upcoming live events, short-term rental playbook, Instagram, and more!