Short-term rentals require understanding

I just found out my tenant is listing our condo on one of those real estate websites for shortterm rentals. I am concerned and don’t want this to happen. What are my rights?

Airbnb and similar services are becoming increasingly popular. They allow people to list, find and rent lodging, usually in privately owned homes, for days or weeks at a time. This can be a good way to make extra money but, of course, it comes with a litany of potential problems.

You need to check the rules of your community association because most ban short-term rentals of any type. The association could impose substantial fines.

Even if your tenant uses these services without your knowledge, these fines still fall on you.

Also, more municipalities are passing local ordinances banning short-term rentals, and that could result in even more fines. You also should be concerned about guests injuring themselves and suing you as the homeowner.

Some of the listing services will have varying insurance policies in place to cover this, but you must check this carefully. If the guest damages your home, some services may reimburse you, but you still are left to take care of the details.

Sales tax on the rental also can be an issue. Some of the services will collect and remit the taxes for you, but the ultimate responsibility for this falls on you, so make sure it happens.

If you own a home and rent to a traditional monthto-month tenant, it’s important to include terms in your lease banning your tenant from subleasing the property without your written approval.

While I am not knocking these types of services, it’s important to understand what you’re getting into.