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Brendan: THIS MORNING IN
LEGAL LOGIC, WE ARE TALK ABOUT
THOSE HOME AWAY FROM HOME
VACATION EXPERIENCES.
ATTORNEY BRIAN CUNHA IS BACK
WITH US THIS MORNING TO TALK
ABOUT RENTSING SPACES FROM ORE
PEOPLE OR YOUR OWN HOUSE OR
GUEST HOUSE THIS VACATION
SEASON.
GOOD MORNING, BRIAN.
GOOD MORNING, BRENDAN.
Brendan: MAYBE WE WANT TO
RENT OPRAH'S PLACE FOR A WHILE.
AIRBNB IS OPEN.
Brendan: SPEAKING OF WHICH,
THOSE SITES ARE SO VERY POPULAR
NOWADAYS.
IT SEEMS LIKE SEVEN UTILIZING
THEM.
BEFORE WE ENTER INTO SOME TIME
OF AGREEMENT WITH THESE SITES
OR THESE DIFFERENT PROVIDERS,
THERE ARE THINGS THEY NEED TO
BE MINDFUL OF, AREN'T THERE?
YEAH.
THE BIGGEST MISUNDERSTANDING
WITH AIRBNB, HOMAWAY AND THESE
OTHER SORTS OF THINGS IS THAT
THEY ARE NOT ACCOMMODATION
PLACES.
ALL THEY SERVE IS A PLATFORM
FOR YOU AND I TO MEET.
THEY HAVE NO LIABILITY
WHATSOEVER WITH REGARDS TO THE
RENTAL OF YOUR HOME.
A LOT OF PEOPLE OUT THERE ARE
TREATING THEM ENTERING IN
THINKING THAT THIS IS A HOTEL.
BUT NO.
OH, NO.
ABSOLUTELY NOT.
JUST LIKE LYFT OR UBER, SAME
THING.
THEY ARE SEPARATE.
ALL THEY ARE IS A PLATFORM AND
THEY ALLOW YOU TO REGISTER AND
YOU TO CONNECT, PERIOD.
SO, THERE IS NO LIABILITY.
ALTHOUGH, YEAH AIRBNB HAS A
POLICY OF $1 MILLION.
OK?
BUT THERE'S SO MANY LOOPHOLES
WITH REGARD TO THAT POLICY.
ARE YOU COVERED?
FOR EXAMPLE, DOES YOUR TOWN
ALLOW AIRBNB?
ARE THERE RESTRICTIONS?
IF THERE IS ANY OF THOSE SORTS
OF THING, YOU ARE NOT COVERED.
MANY PEOPLE THINK, FOR EXAMPLE,
THEIR HOMEOWNERS WILL COVER
THEM FOR IF SOMEONE GETS
INJURED OR I GET INJURIED IN A
HOME THAT I RENT OR ROOM THAT I
RENT OR SHARE WITH A HOMEOWNER.
NO.
YOUR HOMEOWNERS GENERALLY WILL
NOT COVER YOU.
WHY?
BECAUSE IT IS A COMMERCIAL
ACTIVITY.
SO, YOU'RE NOT COVER.
AND YOU ARE NOT COVERED.
NOR IS THE HOMEOWNER COVERED.
Brendan: ANY TYPE OF FINE
PRINT WE SHOULD BE LOOKING AT
ON THESE WEBSITES TO GO OVER
FIRST OR DO THEY NOT HAVE TO
PUT THAT?
IT'S ALWAYS 70 PAGES LONG.
Brendan: WHO HAS SPARE TIME?
I LOOKED AT IT LAST NIGHT.
IT'S 70 PAGES LONG.
AND THERE ARES SO MANY
RESTRICTIONS WITH REGARD TO
LIABILITY.
OK?
BECAUSE AIRBNB IS -- WANTS TO
BE OUT OF THE RISK BUSINESS.
THEY DO NOT WANT ANY LIABILITY.
SO, IF YOU ARE RENTING YOUR
HOME THROUGH AIRBNB, CHECK WITH
YOUR OWN HOMEOWNERS POLICY.
OKAY?
MOST LIKELY THERE'S NO KAOFRJ.
YOU MIGHT BE ABLE TO ADD A
LITTLE BIT OF COVERAGE TO GET
THAT COMMERCIAL OR IF YOU ARE
-- IF YOU ARE AIRBNB, YOU CAN
LOOK AT THE COVERAGE AND GET A
LITTLE BIT EXTRA.
HOME AWAY, FOR EXAMPLE, DOES
ALLOW YOU TO BUY COVERAGE.
IN FACT, THEY URGE EVERYBODY TO
BUY COVERAGE AND IT'S A COUPLE
OF THOUSAND DOLLARS A YEAR.
IT MIGHT BE WORTH IT IF, IN
FACT, YOU RENT OUT YOUR ROOM OR
YOUR HOUSE LONG ENOUGH.
BUT GENERALLY, YOU'RE OUT OF
LUCK.
Brendan: IT DEPENTS ON YOUR
PARTICULAR SITUATION, HOW YOU
WANT TO ENTER INTO THIS.
FOR EXAMPLE, IS THE INCOME
EXCLUDABLE.
IS IT ACCOUNTABLE?
WHAT IS THE PERCENTAGE.
HOW MUCH DO YOU PAY AIRBNB AND
THEY USUALLY GET BETWEEN 6% AND
12%.
SO, IT IS A RISKY PROPOSITION
BOTH FOR THE CONSUMER AND FOR
THE HOST.
SO, YOU REALLY, REALLY HAVE TO
BE CAREFUL WHEN YOU ARE DEALING
WITH AIRBNB IN TERMS OF
LIABILITY.
Brendan: I GUESS I HAVE
READING TO DO BEFORE I RENT OUT.
MAKE SURE YOU LOOK INTO YOUR
OWN TOWN'S BYLAWS AND LAWS.
GUESS WHAT?
IF BYLAWS DON'T ALLOW IT, NO
COVERAGE.
Brendan: VERY IMPORTANT
STUFF AS ALWAYS.
THANK YOU VERY MUCH.
S FOR EVEN MORE FREE LEGAL
