I'm not entirely sure rental insurance would cover you in the instance. Since you were effectively operating a commercial venture by renting out your apartment, it would likely void any sort of coverage you have. I'd read your policy very, very carefully. It's not like the people broke in and stole stuff. You let them in exchange for monetary compensation. I'd guess your carrier would deny any sort of claim, even if they burned the place down.

I agree with bradg33 completely. I think the insurance would not pay for that.

For me I would rather have my stuff safe and locked away without strangers digging through all my stuff. I can see if you have a second house.apt that you use for vacation but I know in my main residence I have lots of stuff that identifies me. Welcome identity theft if you have any form of filing system that isn't under heavy lock and key.

I for one know that my house has many things that I don't want some random reading/pawing through. Also family heirlooms while maybe not hugely valuable may be one of a kind.

Risk versus benefit I think this is a terrible idea for most people. Too much to lose for minimal gain.

Many apartments (mine comes into mind, specifically) expressly prohibit renting out your apartments to third parties. While they probably aren't likely to investigate it or kick you out if they do discover you doing this, it's still against the agreements in your contract with your property manager. If something were to happen to the property while your renting your house out, you may find yourself liable for the entire bill. (Pray that the person you rent to doesn't start your building on fire accidentally, because any written contracts that you have with the person that you are renting out to is probably void also because of the previously mentioned breach.)

@TehRev: "Risk versus benefit... Too much to lose for minimal gain." - I think the same applies for any potential scammers as well. They have to go through an email exchange, pay around $250, and meet us face-to-face. There's much easier ways if they're really interested in ripping people off.

My Allstate renter's insurance policy explicitly doesn't cover this kind of theft. Re-read your policy.

Does your apartment lease allow this? Even if your apartment is really a condo (I know in some places people call it an apartment even if they own it), your HOA may have something to say about it.

Another cool take on this idea is the "swap". Some people are like to leave town during big events (e.g. SXSW in Austin), and they will trade apartments with you for your visit to their city.

Even if you policy does not specifically exclude this, you do have an obligation to show due care. IE, if you open all your doors and windows and put signs up saying rob me, I don't think your insurance would pay either.

Personally, I would not let someone I did not know in my home while I was there, forget it if I was not there.

Most Renters Insurance won't cover theft as a result of negligence, which in this case is your granting them access to your apartment. You may be able to have the police try to recover your possessions, but the insurance company is in the clear.

I wouldn't do this. We had a neighbor who was going on vacation and she rented out her apartment to someone who seemed very nice. After a few days, the tenant decided she didn't like some of the stuff in the apartment and put it on the porch. Eventually she announced that she was not going to move out. She threatened to sue and said she was going to go to the landlord. (She also threatened to sue us and other neighbors for looking at her funny.) She demanded payment to move - and my neighbor (on advice of a lawyer) paid it; the person lived there rent free for two months. Based on conversations with her, it sounded like she did this all the time, taking advantage of tenants' rights ordinances. It was very creepy.

@Ben Popken: What happens when someone uses your address as a maildrop for fraudulently purchased goods? And what if they combine that tactic with identity theft?

Yeah, I definitely think you're insane.

When I go out of town on business, I rent out my wife. I mean, I'm not using her, so there's no reason not to! I just check out what the local prostitutes charge and set my price about $50 an hour lower. Then I put an ad on Craigslist under "erotic services." When our guests' stay is over, we ask them to leave her panties on the table.

Most of our friends think I'm crazy, but I've done it thirty-eight times so far and it's worked out great. My most prized possession is my laptop, and I bring that with me. I take photos of her before I leave, and if there were ever any STDs involved, that's what health insurance is for!

@kwee

Thanks for the laugh. That seriously made my day.

This may be the dumbest thing I've ever heard of...and I live in Tennessee.

Sorta kinda like this [www.bednbreakfastnyc.com]

But I admit that my own worries about it keep me from doing it. I have to say that in my 20 years or so as a renter, I've run into a lot of dishonesty, scamming and craziness. Where's Andy Griffith when you need him?

@ Ben "I think the same applies for any potential scammers as well. They have to go through an email exchange, pay around $250, and meet us face-to-face. There's much easier ways if they're really interested in ripping people off."

If they're a scammer that needed a place to stay in town, then it's a bonus to them. 1) It's easy to make new emails. 2) If they're scumbags, they stole the $250 from somebody else. 3) This would wash out the bad liars, but can you really say that you'd be able to beat somebody that cons people for a living?

What if they fine your secret porn stash, Ben? What then?

I just could not do that. Too much worry for not enough gain. Even taking your laptops, wouldn't you worry about everything else in your place being stolen or them trashing your apartment and leaving a mess? Or any number of things. I just cannot imagine even trying it.

Worse yet, after I got back, I would be laying in bed wondering what went there while I was gone.

My gawd -- think of the safety of your neighbors. How do you know your "guest" is not a rapist, child molester, or any other deranged person? You could have the next 911 terrorist sleeping in your bed. (You got me sounding like my mother)

FWIW, I think this is a fairly sane idea. You certainly have to vet the person in some way, but I have lot of friends that do this in Chicago. This works best for brief periods like a weekend, as this helps to filter out all the "911 terrorists" that you guys are scared about.

I think this is a colossally stupid idea.

First, you don't only need to worry about insuring personal effects and the building, but your real issue is insuring for liability. Just wait until someone cracks their head slipping in your shower.

You, of course, would be liable for any damage - and you're actually operating as an inkeeper - something that requires strict regulation and permits in most states.

Also, I do hope you checked with your landlord, as many leases explicitly forbid this, and can use it as grounds for eviction.

But hey, seems you're the blithe "hey, it don't matter, life's a sunshiney day!" type, so go with your bad selves, I guess.

It's a great idea if you guarantee that the occupant of your apartment won't steal your stuff, vandalize the place, or become a reason your landlord evicts you for cause.

Not only do you need to read and verify the terms of your rental insurance, read your LEASE. It would suck the big one if your swappers damaged the place to the tune of hundreds or thousands of dollars that YOU must pay for AND leave YOU homeless.

The risks do not out weigh the benefits on this one. Dumb idea.

This is very common in the city. Of course I don't do it because I'm anal retentive and overprotective about my belongings, but I have plenty of sane friends who do.

Let's not forget the risk the other party is taking as well. How do they know we're not going to give them bogus keys to a fake apartment? I think the risk on both sides of the arrangement help make it a more honest transaction.

I find it concerning that Ben writes a very lucid article giving someone a justified talking-to for falling for a Nigerian scam, yet entrusts his apartment to any ol' schmoe?

Oh, and I know I didn't clarify earlier, but I can tell you this from previous experience. Renter's insurance will NOT cover theft in such a situation.

My brother had an apartment and decided to throw a party; a bunch of people showed up he didn't know. Lots of shit got stolen. His claim got denied. Reason? "Undue care" in allowing strangers into his apartment.

And you know what, Ben, no, that isn't "what renter's insurance is for." That's an assinine comment, and the reason everyone's rates go up.

Renter's insurance is for when someone breaks into your house in the middle of the night, or the place burns down. It's issued to people who have a vested interest in protecting their own stuff and their own domecile, not for people who are transiently there for a night and have no legal responsibility for the place.

Renter's insurance is NOT for someone who naively lets strangers rent out his apartment without appropriate indemnity, liability, and property damage insurance for running a hotel/inn, which justifiably is more expensive.

This is like letting random folks joyride your car for $5 a pop, and saying "Hey, who cares if they total the car or smash into a storefront. That's what auto insurance is for!"

Seriously, after thinking, I can't begin to underscore how off-base your line of thinking is here.

@groupie: Good point, I forgot to mention in the article that people in New York do this all the time.

I understand and appreciate many of your concerns and we will check in with our insurance company, but I gotta say, some of your scenarios are pretty far-fetched.

Beyond every other scenario I've read, there's the "ewww" factor you haven't considered. Ewww, what did those strangers do in my bed? Ewww, a complete stranger used my shower and my toilet! Ewww, did they do the nasty in my kitchen or on my couch?

I think the "ewww" factor would be enough to discourage me from even remotely considering the idea.

No way in hell I could ever relax away from home while knowing strangers are living in my place. You think most people could resist the temptation to totally go through all your stuff? (even if they didn't actually steal anything) I'm sorry, even with insurance I am just not that trusting. Curiosity is part human nature and most people would find the urge to snoop around to good to pass up. Then there's the idea that a couple would be.. doing stuff in my bed. Ewwww. Wouldn't be worth the extra money to me.

@Ben Popken: LOL, everyone who agrees with Ben is a genius, if you disagree you're a fool talking about far fetched scenarios.

Ben, it's simple. Is there exposure ($250) even close to your exposure on the deal? All your possessions? All of the damage they could do? What about if they invite some people they think will be ok?

Seriously, you've not thought this out completely.

You're most likely not covered by insurance and are even more likely to be in violation of your lease if not local ordinances.

5 times out of 6 your ok playing Russian Roulette but that 6th time is a bitch. Do a little me due diligence on this one dude. We expect more out of you.

"Eww factor" FTW!

Grr, make that "Is their exposure ($250) even close to your exposure on the deal? All your possessions? All of the damage they could do?"

WOW, I need to read before I hit submit comment!

5 times out of 6 you're ok playing Russian Roulette but that 6th time is a bitch. Do a little more due diligence on this one dude. We expect more out of you.

Everyone needs to chill out. Of course people who live in NY do this all the time because we don't spend all our days worrying about the boogie man. My girlfriend and I rented out our place once last summer and I have a friend who does this a couple times a year. In fact he's up in Vermont for a month right now while someone else is paying his rent. Anyway, I'm pretty sure the "911 terrorists" aren't going to steal anybody's stuff. Maybe just a box cutter. But seriously its more likely that your idiot friends will trash your apartment then some tourists are to steal your stuff.
My main point is that most people freak out about everything, which speaking of terrorists, leads to believing our liar president's bullshit and pissing their pants about "orange alerts" and liquid bombs on airplanes.

You could rent it out to your buddies?

Only time I have sublet is back in the college suites during the summer. And also only when one of my long term suite mates was going to stay in the suite over summer to supervise them.

How we worked it out is of the four man suite we would rent out three spots. From the profits those of us way would pay the mate that stayed behind. Worked out well for years.

Would I have sublet strangers without supervision - no!

Do the words "bad idea" come to mind? I mean, friends are one thing, but strangers are another.

"Even if so, we have enough faith in humanity, and our own ability to weed out wackos through the email process, to not let it dissuade us)."

Bwahahaha! Dude, ever heard the term con man? Of course the obvious psychos aren't going to be allowed in, but what about the liars?

Two words for you: Identity theft. Oh, and personal belongings, clothing, medications, the "eewww" factor, the food in the fridge, oh, and how about some nutso putting up cams? Maybe I wouldn't mind - if I cleaned out the place beforehand and sent the CIA through with a debugging team afterward...

Oh, and also...what happens if they injure themselves in your home (actually, or just faked)? I really doubt your insurance will cover that! Paperwork...

You know guys, it's not the problem of someone stealing your stuff that's the issue.

Since you're operating what is an essentially an inn and acting as an innkeeper, you owe those people a heightened standard of care and if they hurt themselves in your apt, you're legally liable.

Yeah - I am with Ben here. I live in Manhattan, (West Village) and have done this maybe 10 times in the past 12 months. The worst thing that ever happened to me was when someone taped up a huge fold-out promotional poster of a Hyundai on the wall in my entry way and forgot to take it down. Not only have I totally covered my traveling expenses each time, I've met a few cool people that I keep in touch with still.

This is definitely NOT for everyone - if you're generally a nervous or untrustworthy person, it won't be worth it for you no matter how much you make. If you've ever been a poor judge of character, don't even think about it.

I'm in the habit of getting cash in advance which, when I'm gone upwards of a week or two, can get to be a lot of money which I just have a hard time imagining that a commerial photographer from Berkeley, or a new NYU student from France would front just to rip me off. Don't rent to anyone - do it smartly and you'll be fine. Also don't forget about Google - often you can find the photo of who you'll be meeting ahead of time which can help to legitimize.

I'd never do it.

What if the renters make copies of your keys and come back later to rob you (or worse)? Scary.

100 bucks for the first person who can rent out Ben's place and provide a live Webcam feed of him coming home from a trip. No bedroom cam please. UGH

@scudsone: Ah yes. The "New York" factor. Lest I forget that you are all more cultured, intuitive, and finely tuned to the world and human nature than the rest of us.

I got my identity stolen once. They opened up a credit card and bought about a dozen IBM laptops and $1500 cigars. They had the shipment sent to an apartment fedex overnight, that turned out to just be a drop - the place was vacant the next day; cleaned out. Far fetched? No, it happened to me, and I have a thick police report and folder to show for it. Hmm, I wonder what city that apartment was in?

Clue: it wasn't Peoria.

Wow. This is a colossally stupid idea.

And if this is so "common" in NYC, I guess that's one more reason in don't want to visit, let alone actually live there.

Here in Chicago (I guess that it's part of the "flyover country" for you cultured New Yorkers), I've NEVER seen or heard of this. Why? Well, a) most everyone would be in violation of their lease, b) you'd be in violation of Landlord-Tenant Law, c) your rental insurance wouldn't cover this, d) even if you were (technically) subletting your belongings could easily be stolen/trashed/pawned/etc., d) you'd be exposing your neighbors (most building are secure access) to unnecessary risk (do you REALLY know who's renting from you?), e) you could be held liable for any damage or criminal activity that occurs while you're gone, and f) you'd be responsible for any utility or other charges your "tenant" racked up while there.

I would have trouble renting my place out to my own friends, not to mention complete strangers. I believe the Eww factor would do it to me, because I know what I do in my house and I've seen what other family members do that gross me out, just to imagine others doing small things like that would sicken me.

Yeah, you can keep out a couple of the creeps and the occasional con-man but like someone said eariler sooner or later someone will take advantage of you and when it happens I hope you are wise enough to have taken some precautionary measures.

Maybe get some ID before you give your keys, do a quick background checks, its very easy and cheap. Maybe get a deposit or some sort collateral if anything happens to any of your posessions. I sure you already do a couple of these and if not you should because it is these precautionary steps that could save you a horrific nightmare. You can even do something so simple as to take a picture of the people right before you leave with a camera phone if need be, then you at least know what they look like.

If you are going to do this there is a right way and a wrong way if you continue to do this regardless. Hopefully, no one takes advantage of hospitality, because we could always use some more optimistic people in the world.

@Ben Popken: "Let's not forget the risk the other party is taking as well. How do they know we're not going to give them bogus keys to a fake apartment? I think the risk on both sides of the arrangement help make it a more honest transaction."

Well, think about this rationally. If people have the option of staying at a hotel (slightly higher price, lower risk) or at an apartment that they found on Craigslist (slightly lower price, higher risk), which people are most likely to choose the second option? The economist would note that the people most willing to take your offer are the least valuable customers, much like the people most willing to buy health insurance are the sick or the people willing to sell their cars for the lowest amount are generally selling lemons.

The more coarse and earthy respond would say that the people most willing to take your offer are those that are going to four-letter-word you.

(to learn more, google: "George Akerlof", "adverse selection", "lemon economic theory". Although I'm sure you've seen this before.)

(Note that "adverse selection" as generally used describes the problem the buyer has in choosing between all the apartments for rent with incomplete information; given that, though, you have to wonder who's willing to buy in that market.)

I'd rather lack "faith in humanity" than have someone steal all my stuff. Strangers in my home when I'm not there = bad, especially in a place like NYC. I thought urban dwellers were supposed to be more cynical and wary than this. It's a metropolis, not a hippie commune or Mayberry!

All in all, F- idea.

My God, is it April 1st already?

This is the most insane, irresponsible thing I have ever heard of (outside an episode of Jackass). I am shocked and appalled that Consumerist would even mention such an idea, much less advocate it. I had fallen into the habit of taking for granted that you guys know what you talking about, and that following your sage advice would keep me out of harm's way, not put me in it.

Be sure to let us know how it goes when you come back to an empty apartment. And remember, while you're vetting these folks via email, that the 'con' in 'con-man' stand for 'confidence'.