A real-estate investor accused of running an Airbnb was fined $180,000. He says his tenant is to blame for renting it out. - Business Insider
Summary
A real estate investor was fined $180,000 for an alleged Airbnb violation, blaming their tenant. Hosts should be aware of potential liability related to their tenants' actions and review their agreements accordingly to avoid potential penalties. Ensure your lease agreements address short-term rental activities.
Key Insights
- •A real-estate investor was fined $180,000 for allegedly violating regulations related to short-term rentals.
Action Items
- ✓If using a property manager, clarify responsibilities regarding tenant screening and compliance with local regulations in your agreement.Effort: mediumImpact: medium
- ✓Review your lease agreements and ensure they clearly outline restrictions on short-term rentals, subletting, and any related responsibilities. Consider consulting with a legal professional to ensure compliance.Effort: mediumImpact: high
Common Mistakes
- ⚠Failing to properly vet or control the actions of tenants can lead to significant fines and legal issues for hosts.
More from Regulations & Compliance
Carson City, Nevada, is refining its short-term rental regulations. City supervisors are currently reviewing and modifying the local ordinance during a retreat. This review aims to address operational aspects, potentially impacting local hosts through new or revised rules, emphasizing compliance.
A 21-unit vacation rental in Dunedin, Florida, has been approved, signaling potential growth in the local short-term rental market. This approval could lead to increased accommodation options for tourists visiting the area. This news could also influence local regulations.
St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
Curated by Learn STR by GoStudioM