A group of Block Island realtors have been talking about including a hurricane clause of some kind in their rental contracts in the future. Apparently, this year's Irene caused many people to want refunds because of boats not running etc. Meanwhile, a fall nor'easter can shut down ferry service for several days (longer than most hurricanes).
Can you get trip insurance for house rentals? I dunno. But I do know that the weather is only going to get more unpredictable even as the fall season becomes more popular on the island. We need to think of something. Ideas?
You can get insurance for ANYthing. Insurers are always happy to sell you something. I say recommend trip insurance. And if there isn't a policy out there that covers ferries and bad weather, consider starting up a company that offers it.
ReplyDeleteEither don't rent in the fall, or write a caveat into all fall rental agreements warning your tenants you cannot be responsible for acts of God.
ReplyDeleteI thought you did control the weather.
ReplyDeleteRight now the issue is self control.
ReplyDeleteor maybe just plain old "powerlessness" that's a big word
ReplyDelete