Home-Sharing for Apartment Buildings and Condominiums

PAGE 4

PROTECTING YOUR PROPERTY ®

800.382.2468 | AdjustersInternational.com

Sheila E. Salvatore, Editor | Editor@AdjustersInternational.com | 126 Business Park Drive | Utica, NY 13502

Copyright © 2019 Rising Phoenix Holdings Corporation.All Rights Reserved.Adjusters International and theAI logo are registered trademarks of Rising Phoenix Holdings Corporation.
E01-1019
Insights forYour Industry ® is published as a public service byAdjusters International, Ltd. It is provided for general information and is not intended to replace professional insurance, legal and/or financial advice for specific cases.

Home-Sharing for Apartment Buildings and Condominiums

Continued

...guests individually. This does not guarantee, however, that a landlord or association will not be found responsible for abetting discriminatory practices by individuals, if public authorities ever investigate such discrimination.

Finally, you can reserve some of your units for short- term rentals, managing the risks and earning the rewards on your own. This can be a useful approach for condominium associations seeking to minimize assessments on unit-owners, provided the rental income exceeds the assessments that are lost by leaving some units without a permanent occupant.

In all cases, a property owner and condominium association will want to know if, how, and from whom insurance coverage is provided for property at a location, as well as for liability claims for bodily injury, property damage, and personal injury to guests and any other persons.

These are choices every property owner or condominium association now have to make, but decisions have become easier in recent years as practical options for implementing an approach have emerged.


RkJQdWJsaXNoZXIy NjIxNjMz