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
Wood | Apr 13, 2022
Mass timber: Multifamily’s next big building system
Mass timber construction experts offer advice on how to use prefabricated wood systems to help you reach for the heights with your next apartment or condominium project.
Codes and Standards | Apr 13, 2022
LEED multifamily properties fetch higher rents and sales premiums
LEED-certified multifamily properties consistently receive higher rents than non-certified rental complexes, according to a Cushman & Wakefield study of two decades of data on Class A multifamily assets with 50 units or more.
Legislation | Apr 11, 2022
Dept. of Energy releases RFI for K-12 schools energy upgrade program
The U.S. Dept. of Energy (DOE) released a Request for Information (RFI) to help decide how best to spend $500 million from the recently passed federal infrastructure law for K-12 public school energy upgrades.
Codes and Standards | Apr 8, 2022
Dept. of Energy boosts energy efficiency standards for federal buildings
The Department of Energy’s recently released new energy efficiency standards for federal buildings.
Codes and Standards | Apr 7, 2022
Uptake of low-carbon materials expected to get a boost from federal building plan
Low-carbon materials will get a sizeable boost via purchases through a federal $3.4 billion building plan to modernize U.S. border crossings.
Codes and Standards | Apr 6, 2022
ABC and AFSP form partnership on mental health and suicide prevention in construction
Associated Builders and Contractors and the American Foundation for Suicide Prevention recently formed a partnership to address mental health and suicide prevention in the U.S. construction industry.
Codes and Standards | Apr 5, 2022
New York City chooses 20 firms for architectural design services on future public building projects
The New York City Department of Design and Construction (DDC) has contracted with 20 firms to provide architectural design services for the city’s future public buildings projects under the latest round of DDC’s Project Excellence Program.
Codes and Standards | Apr 4, 2022
Construction of industrial space continues robust growth
Construction and development of new industrial space in the U.S. remains robust, with all signs pointing to another big year in this market segment
Legislation | Apr 1, 2022
American Bird Conservancy doubles capacity to test bird-friendly glass
American Bird Conservancy (ABC), working with Washington College in Maryland, says it has doubled its capacity to test and rate glass and other materials for their ability to deter bird collisions.
Modular Building | Mar 31, 2022
Rick Murdock’s dream multifamily housing factory
Modular housing leader Rick Murdock had a vision: Why not use robotic systems to automate the production of affordable modular housing? Now that vision is a reality.