Millions of people are renting rooms in private homes instead of hotels. And millions are doing the ‘hosting.’
Before you join the crowd to rent out a room for that extra dash of cash, review your homeowners insurance.
Likely, your homeowners insurance doesn’t cover damage or liability if you rent rooms, according to How Stuff Works. Once you rent a room, your home becomes a business.
Be sure to talk to your insurance agent before you rent out a room. You might be well advised to get a landlord policy to cover liability and damage. That is especially true if you have a pool.