Nick's Airbnb Nightmare story
Summary
This episode of Get Paid For Your Pad features Nick Libertin's experience of his short-term rental property burning down, highlighting the importance of having the right insurance coverage and understanding policy details. Hosts should ensure they have the right short-term rental insurance and review their policy to understand coverage and limitations. Also includes Revenue Management insights.
Key Insights
- •Nick shares his experience of his short-term rental property burning down and the challenges he faced with insurance coverage.
Action Items
- ✓Ensure you have the right short-term rental insurance coverage with a business protection rider and review your policy to understand the coverage and any caps or limitations.Effort: mediumImpact: high
- ✓Consider additional coverage for loss of business revenue and excavation fees.Effort: lowImpact: medium
Tools & Resources
- →Get Paid For Your Pad Revenue Management training: Watch their free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay
- →Freewyld Foundry: Get a Free Revenue Review → https://www.freewyldfoundry.com/report
Watch Out For
- ⚠Failing to have adequate STR insurance coverage and not understanding the policy details.
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