As a commercial insurance agent, you know that there are issues beyond adequate insurance that will determine your clients’ vacation rental business success...or demise.
By sharing your knowledge of these other issues with your clients, you can truly become their partner and advocate.
One of the first critical components a vacation rental homeowner must consider is compliance.
Click here to download the complete Vacation Rental Business Success Guide: The 3 Cs to Help You Help Your Clients
While there are many benefits of short-term rentals for homeowners, there are just as many laws and restrictions, such as city and county codes, mortgage restrictions, homeowner’s association rules and others, that might regulate your clients’ rental homes.
Be mindful of the following legal restrictions, licenses and permits (among others) that could affect your clients’ short-term vacation rentals:
- Prohibition of short-term rentals
- Limit on number of vacation rentals in a location
- Multiple dwelling laws
- General business licenses
- Short-term rental licenses
Just as the vacation rental market is ever-changing, so are the laws that provide order and consistency for your clients. If you help them stay on top of these legal changes, enabling them to stay in compliance and avoid fines, they will see you as more than their insurance agent; they will see you as a trusted advisor.