In a legal environment that is in constant flux, with consequences that seem increasingly stringent financially every day, it really isn’t the wisest choice to jump in the housing waters uninformed. The popular saying is “you don’t know what you don’t know”. Going through a financial advisory organization flavored with experience is one of the likeliest ways to save money and ensure supplemental income strategies end up making money and not becoming an unprofitable exercise.
On the Wealth Solutions blog, a recent post brought to light some issues regarding supplemental income strategy that are really worth considering in the modern market. Currently there is a digital service called Airbnb. From bed and breakfast options to long-term leasing, Airbnb is making it easier for private individuals to supplement their income with existing property and defray some of the exceptional expenses silhouetting today’s society.
There are a number of legal considerations to take into account when you’re subletting a property. Firstly, there are zoning ordinances in many areas which may or may not limit your ability to absorb tenants. Say you’ve kept a room in peak condition for years, but a piece of wood with a screw holding a light fixture has rotted from a hidden leak no one could detect. Now say, hypothetically, this light fixture comes loose at just the wrong time and knocks the property’s tenant unconscious. Should legal action be taken, without some form of insurance the landlord in that scenario may very well be culpable for the damages the tenant sustained.
That’s one of the reasons Richard Blair founded Wealth Solutions, and acts in capacity as its executive today. Wealth Solutions, Inc. is an investment advisory firm whose sole owner is Richard Blair. Mr. Blair has subjected himself to the scrutiny of the United States Securities and Exchange Commission, as well as the Financial Industry Regulations Agency (FINRA). It’s Blair’s prerogative to not only aide in the proper advisement of property subletting, but to do so in an accredited, official capacity.
Mr. Blair has been properly registered and practicing his financial advisory for twenty-two years, and can help you customize financial strategies including retirement packages, wealth-preservation, and the completion of personal financial goals.