Wealth Solutions warns investors to be very weary of the new income venue of renting out their expensive properties as short term investments. Under the guidance of expert registered investment adviser Richard Blair and his associates at Wealth Solutions many investors have discovered that in today’s market turning their expensive area home into an investment income property to offset costs may be very popular but extremely riskier than companies handling this type of property management would have you believe. It can definitely make the homeowners some welcome extra income short term but is it really that great a deal to rent out to a stranger at high risk involvement?
Wealth Solutions makes you aware of all investment aspects, such as licensing fees involved on your part. What are the insurance risks? What are your rights during a possible lawsuit when it seems like today the person renting has more rights than the renter. Doesn’t sound all that great a deal does it?
Bottom line, a renter would need to look at all the insurance issues involved simply to “supposedly” supplement their income. Property damage, theft, fire, refusal of tenant to pay, on site injuries from tenant or someone visiting the property, your goodwill with neighbors may suffer, there’s no end to what could go wrong that could end in a lawsuit or needs insurance coverage. Does this sound like a good income source?
The problem with sites such as Airbnb or VRBO that handle these type of short term home rentals is that they’re in the business to strictly make accommodations online between owner and customer, not to advise. The whole point of Richard Blair and Wealth Solutions is to advise and assist the investor to reach their goals for retirement and during retirement. They’re available to help clients achieve realistic financial goals with little or no risk. Wealth Solution is an advisory company that will give all the pros and cons before any decisions are made.
What makes Richard Blair’s company different is that they work with a diverse group of investors who may have a lot or very little to invest and need to make sure that they have a detailed account every step of the way to be positive Wealth Solutions is working in their best interests. If you’re still not convinced about short term rental of your property visit Wealth Solutions blog on the matter http://www.wealthsolutionsria.com/blog/march-16-2016-insurance-issues-to-consider-before-renting-on-airbnb.
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