Home Insurance For the Dangers of Short-Term Home Rentals

Hi Folks,


   How is your first week of the New Year, so far? It's going well, I hope !

   I was recently interviewed for a very interesting story on short-term home rentals, with the angle of the story on some dangers and issues that can arise from these arrangements. The story, titled, "Dangers of short-term home rentals", was written by Marcie Geffner for Insurance.com, and thus, the angle also focuses on Home Insurance to help mitigate these "dangers".

   Listed below are the points/comments that I contributed for this particular story:

"Some losses are accidental. Others are deliberate and potentially more difficult for homeowners to protect against, notes Robert Eisenstein, founder and CEO of HomeRun Homes, which operates a rent-to-own property website at Lease2Buy.com."

"You want to make sure you don't have any non-owner-occupied clauses or anything that states (the policy is void) over 14 days where it's not owner-occupied, for example," Eisenstein says.

Consider an umbrella policy. Liability should be a concern as well as theft or property damage, Eisenstein adds. An umbrella policy can offer additional coverage for medical expenses if a renter or a renter's guest trips and falls or suffers another type of injury on the property. "It's definitely a concern," he says.

   For the readers of our Blog, Geffner's story is an excellent piece that touches upon some very important concerns that need to be addressed when working on a Rental deal or on a Rent to Own deal. To read the full story, you can check out Geffner's article Here.

Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com


Tags: #insurance #renttoown

Troubled Cities, Creative Real Estate, FHA Tax Credit, and more

Happy Monday to Everyone,

We hope you had a great weekend, and were successful in wherever your ventures took you, whether it was looking for a home, selling a home, or just enjoying some time with your family. On a personal note, we spent the weekend with our toddler going from Chuckie Cheese to a few of those inflatable bouncy places. I've had enough pizza and gummy bears to last me a lifetime !

I came across an interesting story that I wanted to share, and it is worth taking a look at. It's titled, "10 Cities Facing a Double Whammy of Default Risks", and it lists cities which are not only in the throes of major home value declines, but also have other dominating economic issues as well. For example, the top city on the list was Las Vegas, and the article cites speculation and wild loan-types as the contributor to the decline in housing prices, construction, and jobs in the Metro area. The other cities listed are Merced (California), El Centro (California), Port St. Lucie (Florida), Fort Myers (Florida), Bend (Oregon), Ocala (Florida), Detroit (Michigan), Rockford (Illinois), and Toledo (Ohio). Although they are all different cities, some of the issues read like a script. This is an important read if you live in these metro areas, or if you are considering a move there. On the flip side, if you are an investor the specializes in rent to own or creative real estate deals, you might have a ground-floor opportunity in helping to revive these areas !

A side note - This Friday, 4/30, the Tax Credit for new home buyers (of up to $8,000) will expire. We wrote an article on this earlier, and you can read it here:
http://www.blogging.lease2buy.com/2010/04/details-on-fha-tax-credit-for-home.html

OK - back to working on our website and getting more traffic to your ads !
Have a great day, and we'll chat again on this Wednesday !

Happy Rent to Owning !