In response to cases like the Airbnb squatter in a Los Angeles luxury vacation rental home, Proper Insurance offers insights & comprehensive squatter coverage.
BOZEMAN, MONTANA, USA, October 16, 2023 /EINPresswire.com/ — Proper Insurance, the leading provider of short-term rental insurance, has seen a recent uptick in interest for squatters’ coverage following the highly publicized case of an Airbnb squatter occupying a $2.6 million guest house in Los Angeles. This is just one of many Airbnb squatter cases. In response to concerns about short-term rental squatter scenarios, Proper created squatters’ coverage, the first-and-only coverage of its kind to include loss of business revenue and actual expenses incurred with no deductible.
Squatters are individuals who occupy a property without the owner’s permission, often by finding loopholes in a rental agreement. Although squatting laws vary in each state, squatters can often gain tenant rights after as little as 30 days. The recent case in LA drew national attention because the squatter refused to leave, causing months of costly litigation for the owner, including nearly $58,000 in lost rent. In addition, shockingly, the squatter has demanded $100,000 as a relocation fee.
Short-term rental hosts do not anticipate squatters in the same way a long-term landlord might. However, it is a growing issue, especially after the pandemic with longer stays becoming more common for various reasons including the increase in remote workers.
Proper Insurance recommends that short-term vacation rental hosts be aware of the adverse possession laws in their state. After 30 days of occupation, a guest can often claim tenant rights in most states. However, with Proper Insurance’s custom-written policy, short-term rental owners can greatly reduce their risk exposure and continue hosting with confidence.
In the event of a squatter situation, Proper Insurance advises owners to promptly file for an unlawful detainer, initiate the eviction process, maintain comprehensive documentation with the squatter, and contact their insurance provider.
Proper Insurance’s squatters coverage is designed specifically for owners of short-term rentals like Airbnb and Vrbo. Proper’s squatter coverage offers up to $10,000 in loss of business revenue and $5,000 in actual expenses incurred with no deductible.
Proper Insurance is the nation’s leading short-term vacation rental insurance provider, with the most comprehensive policy on the market. They protect homes in all 50 states with unmatched coverage for vacation rental properties, revenue, and business liability. Additional custom coverages include guest-caused theft/damage, amenity liability (bikes, kayaks, hot tub, etc.), bed bugs, fleas, squatters, and more.
Proper Insurance is proud to offer the best policy available for short-term rental owners and hosts. Learn more about Proper’s squatter coverage at www.proper.insure.