Homeowners Insurance Policy for Short-Term Rental

[Shawntay Mclean]

Hi all,

I currently own a SFH in the Tampa Bay area, and my insurance has skyrocketed in the past year (~1,200+). In addition to my insurance, my property taxes have also increased from $800 to $4600. I've owned this property for 2 years now, and the short-term rental bookings have been favorable, holding steady at a 70% occupancy rate. With the recent increase in cost, I am not making a profit but instead adding money from my personal account to cover my monthly operating costs (~$3,700 with taxes, mortgage, etc.). I would love to keep the property, so I'm looking for some professional guidance here. Your feedback is greatly appreciated!

Shawntay McLean