Damage Insurance STR

[Jessica Herndon]

I am currently using a PM for my STR and I am considering self-managing at this point. We have had people burn a large portion of a living room rug, smash televisions, allow a pet to chew up a dresser in our pet free home, and puncture holes on the inside of the refrigerator. These are just a few examples of many tenant damage issues I have experienced while using a PM.

What is the best way to address damages like this if you are self managing? Any advice and insight would be appreciated.

[Michael Baum]

Hey @Daniel Smyth, we had a guest try to close a window with the lock engaged. It bent the locking bar and ruined the seal trim on the window. The guests were adamant they didn't do anything but the window didn't break itself.

I filed a claim with AirBNB, took pics of the damage and an estimate for replacement (not repairable). They sent me the whole estimate right to my bank, no muss no fuss. Didn't even question me about it.

Now, I have also read multiple stories about AirBNB denying claims. It is the internet so you never know. People always complain when things go bad, but never when things go well.

You also want to list it on VRBO as well. We get about 60% of our listings through VRBO.

Make sure you carry vacation rental insurance. It will pick up if AirBNB/VRBO doesn't. Proper, CBIZ and Foremost are what most people use. We use Proper. It is the most expensive, but it is very comprehensive.