5 things to think about before renting your house on Airbnb

Everyday Wealth

Jean Chatzky

Investing, Business, Education

2 • 935 Ratings

🗓️ 16 September 2022

⏱️ 2 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you’re thinking about renting your house on Airbnb, there are a few things to consider. Edelman Financial Engines wealth planner Rose Niang, Jean and Soledad break down what you need to know before you decide.

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Transcript

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0:00.0	This is Edelman Financial Engine's everyday wealth, with award-winning journalist Soledad O'Brien,
0:12.8	personal finance expert Jean Chatsky,
0:15.3	and Edelman Financial Engine's wealth planner Rose Nyeung.
0:19.8	Give me five things that you should think about
0:21.6	before you rent your house on Airbnb Rose.
0:23.7	Definitely look at the local laws and ordinances.
0:26.6	Make sure that this house can be used for temporary rental.
0:30.0	Make sure you are fully insured. Consider rental income. This income can be taxable if you've rented it out for a certain number of days.
0:38.0	Also, make sure that you are looking into time you spend maintaining the property or just managing the property.
0:46.7	And you also may make less than you think just because of friends, family, kids using it more than you have accounted for.
0:55.0	Recession, inflation, rising interest rates.
0:59.0	If you're wondering what today's economic challenges mean for you.
1:03.6	Join Edelman Financial Engines on Tuesday, September 20th
1:07.5	at 2 PM or 8 PM Eastern for a brand new virtual event
1:13.0	economic storm of 2022 and your wealth
1:17.0	a round table discussion hosted by me
1:19.7	Jean Chatsky and featuring wealth planners from Edelman Financial Engines.
1:24.4	You can register right now at plane.com. You'll get timely insights into today's market
1:31.3	situation and learn steps to consider now.
1:35.8	Are you making the right financial moves?
1:38.0	What could you be doing differently?
1:40.0	Don't miss this important virtual event.
	...

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