Quick Tip: Summer House Rental - Mackoul Risk Solutions | Condominium and Co-op Insurance on Long Island, NY Skip to main content

Quick Tip: Summer House Rental

Renting a house can serve as a great getaway any time of year, but especially for a summer vacation. Whether you’re opening up your home or looking for a place to stay, Justin has a few tips for a smooth stay.

Renting a summer house is a great way to spend much needed family time but remember there are a few things to help protect yourself. Whether you are the landlord or the tenant, it is a good idea to make sure your insurance is up to date.

Landlords will want to confirm with their insurance agent that they have a rental policy or a rider that allows them to rent their home. Many companies will allow rentals of no longer than 10 weeks throughout the year. If you are doing short term rentals to many different individuals or groups you will want to make sure you are protected.

Most insurance companies exclude short term rentals such as Air BNB. It is best to purchase the right policy so you have no surprises when you have a claim. You might also be able to write off your insurance premiums since this becomes a business expense.

Tenants will want to purchase a renters policy, even if it is for a few weeks. This will protect any personal property you bring to the home as well as your liability, in case you cause any damage to the home. Most landlords will require this, as well as being listed on the policy as additional insured. In many cases you can even have your liability extended from your primary home policy for the short time.

You will want to make sure you have a contract to protect both the tenant & landlord in the event of a dispute. It is a good idea for both parties to have an attorney review the lease.

For more information, please contact us.