Brick, NJ · Member since 2015 · 14 posts · 2 votes
Hey everyone,
My business partner and I are looking to expand our portfolio with the purchase of a vacation rental. Does anyone have any experience with owning a vacation rental AND providing a vehicle for rent along with the property. We are considering providing a used Jeep Wrangler (automatic, of course) for an extra fee for our potential vacation rental.
We are fully aware of the vast list of liabilities as well as potential group size restrictions. Just curious if anyone has had any success or headaches with this.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
10y
@Andy Plattner you may well be liable even if you aren't charging for them individually, given you are in effect charging for them by including them with your rental. A number of property management companies won't let homeowners leave those types of items on their properties for guests to access for this reason.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
10y
I would encourage you to set up another entity to own the vehicle, or better yet both set up another entity to own the vehicle, as well as process the vehicle rental through p2p vehicle rental site to help shield you from some of the liability (like getaround.com, turo, flightcar). The potential liabilities seem way to great to not insulate yourself via multiple entities, and a 3rd party service, in my book.
I am exploring a golf car rental in some of my properties, but would make sure the booking was done via a 3rd party, and make sure the vehicle is owned by a different entity then the house owner and the property management company owner.
Teacher, Business owner · Port Isabel, TX · Member since 2015 · 26 posts · 7 votes
10y
I was looking at renting bicycles and kayaks to my guests but the insurance to do this was crazy high and not worth it as we are seasonal. What I do now is leave a few bikes and kayaks at the rental and allow them to use them if they want but it is one less thing I have to worry about. Guests really dont take care of things. The bikes are 2nd hand bikes so if they dont work, I dont get the complaints vs. if they were renting them, then the upkeep would be high since the rentals are on the beach. This kind of adds to their experience of staying in my house.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
10y
@Andy Plattner you may well be liable even if you aren't charging for them individually, given you are in effect charging for them by including them with your rental. A number of property management companies won't let homeowners leave those types of items on their properties for guests to access for this reason.