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Safety Measures to
Consider Before
Offering A Property as
A Vacation Rental
Renting a property as a
vacation home is a great
way to generate extra revenue.
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But prospective hosts
must take steps to protect
themselves and their guests
before renting a home or
apartment.
Vacations have changed
dramatically over the last
several decades. Social
media has opened doors to new
places, as millions of people are
inspired to visit locales they fi rst
caught sight of via platforms
like Instagram. But it’s not just
where people are going that has
changed, but where they’re laying
their heads when they arrive at their destinations.
The online marketplace for vacation rentals has no shortage of
inventory, as popular websites such as Vrbo and Airbnb continue
to attract property owners and renters alike. Property owners may
want to consider using a home or apartment to generate some extra
money. According to Alltherooms.com, the average annual host
earnings on Airbnb in North America exceeded $41,000 in 2021.
That income is notable, and it’s undoubtedly one reason why Airbnb
reported adding more than one million active listings in 2023.
Property owners must ponder the pros and cons to listing
homes via a vacation rental service. Those that decide to go forward
can take the following steps as they prepare to offer their
properties as vacation rentals.
• Hire a home inspector. A certifi ed home inspector is typically
hired when individuals enter a contract to purchase a home, but
these skilled professionals can be just as useful when preparing
to offer a property as a rental. Certifi ed, experienced professionals
can identify any potential problems or safety issues with a home
that could cause trouble when renting a home down the road. Address
any safety or structural issues with a property prior to offering
it through a rental service.
• Install new safety devices. New smoke alarms, carbon monoxide
detectors, locks on exterior doors, and other safety features should
be upgraded prior to renting a property. In between each rental, test
batteries in alarms and detectors to ensure each device is operating
at peak capacity. A new security system with external cameras also
can reassure prospective renters that a property is safe. Remote
locks that allow for keyless entry to a home is another upgrade
that can make it more convenient for hosts and renters to access
a property.
• Do your insurance homework. Existing homeowners insurance
coverage likely will not apply when renting a home as a vacation
property. Prior to listing a property for rent, confi rm with your
homeowners insurance company the coverage you need to ensure
you are protected when renting a home or apartment. Liability and
accidental damage coverage are two of the many variables prospective
hosts must consider.
• Keep emergency supplies on site. A fully stocked fi rst aid kit,
functioning fi re extinguishers (more than one) and a listing of local
emergency responder contact information (i.e., police department,
fi re department, nearest hospital, etc.) should be made readily
available to renters. Check supplies before each new group of renters
gains access to the property, and restock when necessary.