When you consider the current state of the economy and the general volatility that is running wild, it only makes sense that people are trying to find new ways to hustle and generate side income. That being said, you need to be sure that you know what you are doing before you just jump into something. The key that most people forget is just because you are going to try something new, it doesn’t mean that there are no consequences involved as well. That’s exactly why people just like Richard Blair have been spending considerable amounts of time trying to educate others and attempting to have others simply stop and think about the potential outcomes of their desired actions.
Richard Blair has been fortunate enough not to get caught up in the game of chasing the newest fads and trends without first understanding the implications. While it might be possible to “get rich” or at least “have fun” with the new ideas that are constantly coming out, it is also possible to get stuck in a logjam where everyone else winds up losing just as much money as you. This is all before you consider the added stress and effort that goes into a process like Airbnb, and while you can make money you have to know the costs as well as the potential costs.
Richard Blair isn’t saying that Airbnb is a bad thing, only that you need to consider what you could be giving up by going that route. Just imagine the chaos that your neighbors could deal with after having random guests and parties in your home. Will your property value decrease as a result of people turning a “home” into a “rental?” And even if you can minimize the damage done to your possessions, why would you want that added risk?
As Richard Blair obviously isn’t the judge or the jury of every given case, he does claim that the law can be hard to interpret in situations where a renter causes damage to others. That being said, do you really want to risk being dragged into a lawsuit (or multiple suits) just because an inebriated fan who was tailgating for a game did significant damage? As long as you check over your insurance and know what you are covered for then you should be fine. However, make sure that you actually know what you are doing before you jump into the fray. That is the message from Richard Blair.