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Airbnb Becoming Lucrative Income Generator for Florida’s Aging Population

May 31st, 2018 - In Community, Insurance News, Tampa Bay News

According to Sarasota’s Herald Tribune, there “are 18,000 older hosts” in Florida. Hosts are what Airbnb calls the property owners who “rent” out their homes, condos, villas, house boats, RVs and trailers to the public through the popular website. The venture is called home-sharing, not really renting, because it’s for such a short span of time.

A Sarasota couple interviewed by the Herald Tribune spoke about renting out the 1 bedroom apartment on their property. They have averaged anywhere from $1200 to $1400 a month. Their daughter manages the bookings and the couple act as hosts to guests. They even provide firewood.

Another portion of the article speaks to how the hosts from Airbnb help traffic in guests coming down for the Spring Training season, providing affordable and safe lodging.

So, what are the benefits to the aging population allowing others to stay in their homes for a nominal fee?

For starters, it’s definitely the income. An added bonus is the interaction they get to have with guests. One factor that hits hard for the aging population is the isolation they feel as friends either pass on or move away, or are far away from loved ones.

To read the full Herald Tribune article, visit: http://www.heraldtribune.com/news/20180521/airbnb-boon-for-florida-seniors.

If you’re curious about what insurance protections there are for Airbnb hosts you can visit the Airbnb website to learn more at https://www.airbnb.com/guarantee. The website claims to provide eligible (keyword) hosts with reimbursement for damages up to $1,000,000. There’s sections dedicated to what is protected, and what is considered not protected like cash and securities, pets, artwork, or jewelry. It’s wise to speak to your insurance agent to see if you need to add an additional policy to your existing homeowner’s insurance policy, as well as to make sure you understand your existing policy and how it would apply in situations that involve participating in a venture that allows you to charge for people staying in your home.

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