Preparing to Rent Out Your Music Space
Here are several steps to take when you are preparing to rent out your music space:
Check local regulations so that you understand:
- what types of rentals are allowed in your area
- what taxes or licenses would apply
- what types of noise/volume restrictions are in place
Consult with your insurance broker to set reasonable goals and adequate protection for your situation. If you are renting out a music space within your home, you might need to purchase a commercial insurance policy. You should also consider purchasing additional insurance to cover property damage, liability, or other risks that apply to your situation.
Here are some music industry insurance companies,
and you should also check with your existing insurance company to ensure you
have basic primary coverage: The Hartford
Make your Music Space more Guest-Friendly by safeguarding your property:
- remove any personal valuables or breakable items
- install security systems, video cameras, or monitoring systems for noise or smoke (Minut, Alertify)
- install a keyless entry system to eliminate the need to physically handle a traditional key which can be easily lost, stolen, or copied. Keyless entry systems also offer features like entry code changes, remote locking and unlocking which provide additional security and convenience
