Renting property through AirBNB is a new trend for quick money for property owners, however there are risks involved with this type of activity.
You should incorporate the possible risks when thinking about renting on AirBNB such as liability for injuries, damage to your property or that surrounding your house, theft, illegal drug or other activities on your property. Additionally, some tenants have found ways around paying all together.
Insurance coverage is largely non-existant for short-term renting like AirBNB.
The protection given through AirBNB is only activated if you have exhausted all of your own resources!
If you are ok with these types of risks, you should still speak with a qualified insurance handler or investment manager. Richard Dwayne Blair who works with Wealth Solutions Inc. can help you understand your choices and give solid advice that is tailored to your exact needs and situation. Blair is the owner of the Austin, TX company and has been involved in capital management for 22 years. Currently, he operates with over $55 million under his management.
The company offers collaborative and customized strategies that include:
• Professional and trusted expert financial advice.
• Personally tailored investing goals.
• Customized asset solutions.
• 24 hour access to options with investments.
• Top tier security within accounts.
Blair holds the following certifications
vRegistered Investment Advisor (RIA)
Certified Annuity Specialist® (CAS®)
Certified Estate and Trust Specialist™ (CES™)
Certified Fund Specialist® (CFS®)
Certified Income Specialist™ (CIS™)
Certified Tax Specialist™ (CTS™)
Retirement Income Certified Professional® (RICP®)
Richard Blair’s dedication to financial and wealth management planning has driven him to perpetually educate himself on the current and cutting edge trends and analyses offered within the financial sector industry. While in his early years in the University of Houston, he has had a passion for informing, educating and assisting others through optimizing their personal financial goals. This passion has propelled him into the finance sector industry immediately after graduating from University of Houston and has led him to build Wealth Solutions in the year 1994. The company offers innovative and professional financial strategies for investment portfolios with an aim to minimize taxes, optimize benefits, produce real estate investing ideas, and creating robust income streams.