The immediate cash flow provided by renting your home on AIRBNB seems enticing, however, many home providers forget the additional insurance that needs to be considered when renting out their home. Items to consider prior to joining AIRBNB to help ensure that your profits are not hindered by unforeseen damages include:
1. Risks: loss in rent due to fraudulent guests, injuries that occur on your property, property loss or damages, illegal activities, damages to neighbor’s properties, theft, or even lawsuits.
2. Insurance: many homeowner’s policies do not cover short-term renters, leaving you liable for any damages.
3. Protection: the insurance AIRBNB advertises is a secondary form, meaning you must exhaust all other resources prior to its coverage.
Richard Dwayne Blair of Wealth Solutions, Inc. is a great resource to discuss your options and offer advice customized to your situation. He can help minimize your risks to maximize your potential profits through AIRBNB.
Founded in 1994, Wealth Solutions is a Registered Investment Advisory firm based in Austin, TX. Blair founded Wealth Solutions with the goal of providing objective advice and customized investment, retirement, and wealth preservation strategies.
Wealth Solutions currently has over $55 million assets under management. These assets have been grown through Blair’s expertise in securities, estate and tax planning, integrated financial planning, asset protection, insurance, and employee benefits.
Blair received his bachelors degree in Financial Management Services from the University of Houston in 1993. Immediately upon graduation, Blair founded Wealth Solutions, Inc. Blair has achieved numerous certifications within the financial industry including:
Registered Investment Advisor (RIA)
Certified Annuity Specialist (CAS)
Certified Estate and Trust Specialist (CES)
Certified Fund Specialist (CFS)
Certified Income Specialist (CIS)
Certified Tax Specialist (CTS)
Retirement Income Certified Professional (RICP)
A word from Wealth Solutions, Inc:
The key objectives of the financial planning process are to manage and maintain wealth while reaching personal financial goals. This process depends on intensive research and financial data analysis prior to creating a professional investment portfolio. You need to be knowledgeable about your current finances to be able to set your future portfolio goals.
Our financial professionals work diligently to develop a diversification strategy that will exceed your financial goals. We offer a proven wealth management strategy based upon a comprehensive analysis of your portfolio and the current financial industry. We use the most up to date technology and financial insights to ensure each client’s success.