When renters sign up to be Airbnb hosts, they open liability issues for building owners.
Airbnb’s popularity has skyrocketed, offering appealing, affordable experiences to travelers and an easy way for renters to make quick cash. The overwhelming majority of Airbnb travelers use properties responsibly. There have been horror stories, however, with condos being held hostage by guests citing squatter’s rights, thefts, allegations of sexual assault and damaged property.
With no contractual relationship between a building owner and an Airbnb renter, the owner holds little leverage if an incident occurs. The building owner’s rights, limitations, and duties when dealing with an Airbnb tenant might not be fully known, increasing the risk for the building owner.
The best strategy for mitigating the risks of Airbnb usage is to explicitly prohibit tenants from subletting their units for any length of time, Greg Offner, a producer with the Graham Co., told GlobeSt.com. To ensure compliance, he recommends that building owners monitor Airbnb and routinely check for listings at properties they own, and check with an insurance broker to find out how building coverage interacts with tenants’ coverage.
Related Stories
Codes and Standards | Sep 12, 2018
Saltwater incursion into Miami’s aquifer may make city uninhabitable later this century
Rising sea levels likely to claim drinking water before land is under water.
Codes and Standards | Sep 11, 2018
Smart Surfaces Coalition will help cities reduce urban heat island effect
Surfaces can reflect away heat and help prevent flooding.
Codes and Standards | Sep 7, 2018
Certified Green Buildings may have an advantage in capital markets
Research supports financial case for certification.
Codes and Standards | Sep 7, 2018
NIST releases report outlining steps to bolster disaster resiliency
Offers immediate occupancy building codes and performance standards strategies.
Codes and Standards | Sep 6, 2018
Coalition of mayors around the globe pledge net-zero buildings by 2030
New construction to produce as much energy as it consumes.
Codes and Standards | Sep 5, 2018
New White Paper on Metal Panel Fire Safety Released
Has detailed information for insulation, fire safety requirements in U.S., other countries.
Codes and Standards | Aug 31, 2018
Trade war could make adaptive reuse more attractive
Higher cost of building materials could make rehab a better financial bet.
Codes and Standards | Aug 30, 2018
Metrics should guide strategy for schools seeking LEED certification
Assessing current status helps direct where improvements can have greatest impact.
Codes and Standards | Aug 29, 2018
The 2018 IAPMO solar and swimming pool codes now available
For installation and inspection of public and private swimming pools, spas, and hot tubs.
Codes and Standards | Aug 28, 2018
New York’s green roof program needs reform
Despite incentives, few owners add vegetative roofs.