Renting out space on Airbnb is one way for renters and homeowners to generate extra money. In fact, such rental sites offer a great opportunity especially if you have vacant property.
You could also make extra money by renting your place while you’re away. However, this option comes with some degree of risk. If you’re thinking of using home-sharing services, ensure you consider the insurance implications before hosting guests.
Bear in mind that insurance doesn’t cover everything, so you must beware of the losses you’re susceptible to. Here’s what you need to know about obtaining insurance for Airbnb property.