A London lettings agency is warning landlords who let out their properties via Airbnb or similar short let platforms to ensure the homes are appropriately insured.
Portico says that the number of London rental properties listed on Airbnb has risen 20 per cent in just the past 12 months.
It says it accepts that this is a good way to utilise unused property but says there are risks for the many new hosts in understanding and finding the correct insurance.
“Short-letting ... is an activity not typically covered by standard residential or landlord policies and therefore does expose hosts to new risks. This is why hosts need specific home-sharing insurance to cover them” says Fiona Patterson, marketing director at the agency.
It cites a survey conducted by short-let insurance firm Guardhog - linked with Portico - which claims just 10 per cent of people understood that they must organise additional insurance when putting their property on a short-let site.
The survey looked at Airbnb, which offers a cover cost Host Guarantee, but it says most other short-let sites offer no cover at all.
The survey claims that 24 per cent of respondents believed Airbnb’s Host Guarantee to be a comprehensive insurance option while 66 per cent were unsure.
London-focussed lettings agency Portico, which has expanded into the north of...
A London lettings agency is launching a service to enable landlords...
The London-focussed lettings agency Portico is expanding its short-lets service Portico...
There’s been a huge 43 per cent rise in the number...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
We’re absolutely delighted to announce that, after 10 years, we’re able...
You don’t have to simply accept things as they are when...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment