Top 5 in Real Estate Network® Members are dedicated to providing you with the most up-to-date, helpful real estate information. This monthly newsletter, "Real Estate Matters," offers articles on a range of topics that will inform you in your real estate pursuits.





Member, Top 5 in Real Estate
Phone:
Cell:
Fax:
Email Me

This Month’s Social Media Update

Many agents have adopted the use of social media in their daily business, while others may still be unsure how to best use this important medium to increase profits. This monthly newsletter is dedicated to the subject of using social media in your daily business and offers articles designed to inform, inspire and hopefully help increase your bottom line through utilizing today’s best practices in social networking and social media.

Canada - Top 5 Insurance Tips for Renting Out Your Vacation Property

With winter behind us and summer around the corner, you may be getting ready to rent out your vacation cottage or cabin. Last summer, such rentals were up 40%, making for one of Canada’s biggest rental seasons in decades, according to insurance firm RSA.
If you’re new to the rental business, you may not be aware of some of the necessary insurance requirements surrounding seasonal properties. As a member of the Top 5 in Real Estate Network®, I have seen many insurance nightmares arise out of insufficient coverage on cabins and cottages. Even if you’re renting to family and friends, you’re not safe from an insurance nightmare and need to be prepared.
Here are several steps from RSA that will help minimize your risk:
1. Ensure all structures on the rental property are properly insured, including docks, guest cabins, boathouses and, in some cases, even boats.
2. Take the same risk reduction steps for your cottage that you would for your house, such as checking smoke detectors, keeping a fire extinguisher on the premises and locking doors.
3. Provide operation instructions for anything the average renter might not be familiar with, such as a woodstove and a propane furnace.
4. If you are renting your cottage to families with small children, take a look around the property and see what improvements are needed to make it child safe.
5. Check on your property after the renters have left to ensure that windows haven’t been left open or taps left on.

Copyright© 2024 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission.




Office:
Mobile:


RISMedia Real Estate News

* This monthly newsletter is brought to you by your Top 5 in Real Estate Network® Member Agent and is intended as educational information only.

RISMedia's Top 5 Real Estate Network® is a network created by, for, and of "leading real estate professionals" who are dedicated to providing "leading real estate information to consumers." The RISMedia Top 5 in Real Estate Network is backed by the commitment and resources of RISMedia. Top 5 was created to fill a profound void in how high-impact consumer relevant information was presented by leading real estate industry members to increasingly sophisticated, discerning, and demanding consumers, in order to both sustain and elevate the ongoing viability and appeal of the industry's leading professionals. For more information, visit manage.top5inrealestate.com