It does matter, but less to you and more to your insurance company.
It does matter, but less to you and more to your insurance company. It's more like the your renter's insurance company would sue the neighbor's company for a claim. However, since the neighbor was renting out the apartment as an Airbnb property, then their standard renter's insurance was probably invalid at the time. So now your insurance company would sue the neighbor directly and may not be able to pay. The long term implications are that renter's insurance costs will go up for everyone in that market. I've long thought that the biggest problem with Airbnb wasn't the tax issue, or even landlords abusing the system and running mini-hotels. It was insurance. I suspect that none of the hosts who aren't physically present (and even some who are) are violating their insurance policy, and if there is a HOA or other sort of shared space, that insurance policy would also be violated. If hosts had to actually pay the true costs of insurance, the cost savings between traditional hotels and Airbnb would be much smaller. Now, if Airbnb actually offered the insurance to the hosts, or maintained it themselves, that would be something. But that would be fraught with fraud issues over such a wide market. But insurance isn't a sexy topic...
Posted by mbreese on Oct 17, 2014, 7:43 PM
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Raise real-world problems, find people facing the same issue, and discuss solutions.9,000 issues0 comments
pricing (Housing)
> 1) Land is effectively nationalized under 100% LVT.
This low cost -> artist -> rich people movement of neighborhoods is something I observed happening in some cities I’ve lived in and it am...
From an admittedly selfish point of view, I also don't mind this.
> Oil is still underpriced wrt to its environmental cost.
If component prices keep going up and the respective monopoly/duopoly/triopoly for each component colludes to keep prices high&...
When I moved to the bay area out of college housing was too expensive for me to manage even working for a large tech company.
High housing costs is a key factor.
I know this isn't how our political system works, but if I were king of America I'd try to solve the problem of expensive housing like th...
It does matter, but less to you and more to your insurance company.
It does matter, but less to you and more to your insurance company. It's more like the your renter's insurance company would sue the neighbor's company for a claim. However, since the neighbor was renting out the apartment as an Airbnb property, then their standard renter's insurance was probably invalid at the time. So now your insurance company would sue the neighbor directly and may not be able to pay. The long term implications are that renter's insurance costs will go up for everyone in that market. I've long thought that the biggest problem with Airbnb wasn't the tax issue, or even landlords abusing the system and running mini-hotels. It was insurance. I suspect that none of the hosts who aren't physically present (and even some who are) are violating their insurance policy, and if there is a HOA or other sort of shared space, that insurance policy would also be violated. If hosts had to actually pay the true costs of insurance, the cost savings between traditional hotels and Airbnb would be much smaller. Now, if Airbnb actually offered the insurance to the hosts, or maintained it themselves, that would be something. But that would be fraught with fraud issues over such a wide market. But insurance isn't a sexy topic...
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