Important things to consider when short-term renting your home

Welcoming travelers into your home is a great way to make some extra money, while also providing the opportunity to meet and connect with people from around the world. So why do 71 per cent of Canadians say they wouldn’t consider opening their homes to travelers on short-term rental sites?

While opening the doors of your home to a stranger may seem counterintuitive, listing on a trusted site like Airbnb gives you access to safety measures that have been designed with the protection of both hosts and guests in mind.

Here are some things to look for in a trusted site before you list to ensure you’re covered:

  1. Risk scoring and background checks. Every reservation should be scored for risk before it’s confirmed. Using predictive analytics and machine learning, it is possible for sites to instantly evaluate hundreds of signals that help flag and investigate suspicious activity before it happens.
  2. Secure payments and scam protection. Always pay and communicate with your guests directly through the online platform you are using. By staying on the site throughout the entire process — from communication to booking and payment — you are being protected by a multi-layer defense strategy.
  3. Protect yourself. Look for a listing site that provides a host guarantee and insurance, but remember that these don’t replace your homeowner’s or renter’s insurance. Make sure you review and understand the terms of your insurance policy and what it does or doesn’t cover. Not all insurance will cover damage or loss to property caused by a guest renting your space.

Learn more about how to protect your home when hosting at airbnb.ca/trust.

Source – www.newscanada.com

 

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