We have spoken to many property owners who are attracted to the increased revenues that Airbnb rentals can bring but are apprehensive because of the perceived risks of renting short term. To be sure, renting a property always comes with the risk of ending up with undesirable renters.
Whether they cause damage to property, become a disturbance to neighbors, or otherwise engage in questionable behavior that affects you, your property, or your neighbors in a negative way, the potential issues are similar for both short and long term renters. However, with a constant flow of new guests for Airbnb rentals, the guest screening and monitoring portion of managing an Airbnb may be more work than you bargained for.
At Speed Keyz, we have implemented a strategy to conduct screenings of every guest before check-in to ensure we do not receive any guests who have a questionable rental history. We also employ a noise monitoring system that alerts our team if and when decibels reach a certain level. At this point, we intervene immediately and deescalate the situation before they get to the level where neighbors, or any authorities may get involved.
Also, to guard safeguard our clients against that unlikely occurrence of the worst-case scenario, we carry insurance of up to $1 million for each property to cover certain unforeseen losses.
