Advice for a Willing Landlord to Allow AirBnB

[Kevin Wattenbarger]

Hello BP: I’ve been approached by a professional who would like to lease one of my apartments and utilize it for AirBnB. I’m interested. I want him to do well and he’s agre d to share the income/ expense numbers with me. The property is located on Panama City Beach. I suspect the AirBnB concept would do well in the property but am not interested in doing AirBnB myself at this time. I’m pretty experienced with long term rentals but this would be a first to allow a tenant to AirBnB/ sublease the property. Can anyone offer any advice on lease structure and insurance requirements to get this started off on the right foot to allow for a win-win for all involved?

[Julia Bykhovskaia]

Insurance: if it's an apartment, ask him to get Slice insurance and add you to it. For the houses, CBIZ and Proper provide short term rental insurance, everyone is using one of those. I'm trying to find a landlord in Jersey City to let me do the same. All the best!