Great booking request, trouble formulating long term pricing

Craig if you search for threads discussing this insurance question you will see it is a very big issue for homeowners doing Air. Since you aren’t a homeowner and have not been forking over money to insurance companies for the better part of your life, you may not be aware of the issues. :slight_smile: Your standard homeowners policy will cancel you if you even breathe the word Air. (No pun intended.) :slight_smile:

No offense but you sound kind of young and inexperienced. I would listen to experienced hosts who have been doing this awhile (6 years for me) over “friends and acquaintances” who are more than likely also renters subletting in violation of their leases.

Also, not to sound like your mom, :slight_smile: but I hope you’ve got money put away for taxes. You will also be reported to the IRS by Air on the income you’ve earned.

Gotta love sentences that start with ‘no offense but’… I’m prob not as young as you think but new to Airbnb, yes.

Now im not saying theyre right, I’m just stating the fact that everyone I talked to in my area has no idea what you’re talking about. But then again more then half of the Airbnb listings in the NYC area are illegal, but that doesn’t seem to be stopping anyone.

I’m going to do some hw on the insurance thing now though thanks. And I’m good on the taxes too, ty for asking. One of the few lessons I won’t have to learn the hard way thanks to a heads up from a friend.

No worries…:slight_smile: Keep in mind you won’t be able to take out a homeowners’ policy unless you ARE the owner, so maybe it’s something for your parents to take on. As experienced hosts here many of us have yet to find a policy that really covers what we need, so when you find something let us know!

Also, just find out what your renters’ insurance covers and I’m betting dollars to donuts, commercial activity such as subleasing on AirBnB is not covered. :slight_smile: And just be cautious. We aren’t trying to be mean, just letting you know that renting on Air if you are not the owner is a damned slippery slope, and may not be worth it if you are booted out yourself and find yourself homeless. As I said tenants who rent on Air are easy to spot and most neighbors don’t love it. :slight_smile:

I don’t know how people who rent do it, honestly. It’s such a risk. Also, when people say illegally , it means no license? I don’t understand what is the problem of getting a license if you own your property. It took me exactly 10 min.and 86$ for a year. Then you just pay tax that u collect from guests. What is so complicated and so much talk around it.?
It is so simple.

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By illegal, you mean in violation of the codes? Some cities have codes in place. Or do you mean people are not collecting occupancy taxes? Here it’s $5 for a TAT license and we have to collect excise tax on top of it, which is a total of 13.45%. I collect it from the guest and fork it over to the state twice a year.

Yes, I’m in the US. I’m not talking about the maximum time you’re allowed, I’m just saying that when Airbnb says “a month” they’re talking about 28 days. They work off of a 28-day month.