We rent out properties for airbnb WITH the homeowners consent.

If a tenant sublets without the consent of the landlord, the landlord may evict the subtenant and sue both the subtenant and the original tenant for any damages caused by the subletting arrangement."

I actually inquired about a trust, because a financial adviser recommended that I get a revocable trust. 

You can not do a sale contract with financing terms for seller financing or an option and assign that contract without the seller's consent to future financing with another party.Welcome to BP Joe, but you said a "client" and you a Realtor/Broker?

This will help you be better prepared.About the "upgrades"... many tenants think they have made "improvements" to the property in the course of breaking property rules and making changes without the landlord's consent.  

The rules protect you and your investors.For instance, having a PPM provides the Investors with all of the risk disclosures and material facts they need to make “informed consent”.

OCCUPANCY: Only those persons whose names appear on the lease may occupy your apartment without our prior written consent except guests for no more than 7 consecutive or 14 total days within any 12 month period.

We are not subject to federal gas lease revocation at the whim of the administration.

Change of ownership can cause them to be called without consent.

@Farrukh Madaminov I have a revocable trust set up, is there any concern with someone going after all my other assets within that trust if I had a rental property within it?