I have an Airbnb and an insurance adjuster who wants to book the place off Airbnb for two months. I'm curious if anyone has any recommendations or experience with this.
I plan to use my standard lease and add further details from my Airbnb listing. I am unsure if I should also have the adjuster sign an agreement as they pay.
Property Manager · Indianapolis, IN · Member since 2024 · 45 posts · 24 votes
1y
Hi Conner, we’ve worked with a few insurance adjusters and corporate housing companies, and in our experience, we have the company sign the lease. While the tenant is the one staying in the property, the lease is in the company’s name since they are responsible for payment. We add the tenant to our management software to streamline communication throughout the lease duration. It’s worked well for us and keeps everything organized!
Property Manager · Indianapolis, IN · Member since 2024 · 45 posts · 24 votes
1y
Hi Conner, we’ve worked with a few insurance adjusters and corporate housing companies, and in our experience, we have the company sign the lease. While the tenant is the one staying in the property, the lease is in the company’s name since they are responsible for payment. We add the tenant to our management software to streamline communication throughout the lease duration. It’s worked well for us and keeps everything organized!
Property Manager · Los Angeles, CA · Member since 2022 · 590 posts · 463 votes
1y
Hi Conner, this is very common with MTRs. Insurance bookings often pay much more than what you can get from typical Airbnb guests.
Yes, use your lease. Is this your first off platform booking? The insurance company sometimes has a lease they want you to use. But get them and the family staying in the home both on the lease since the insurance is paying the rent, but the family is usually responsible for the deposit. And just in case the family stays longer than insurance will pay for.
Northeast Georgia · Member since 2023 · 140 posts · 170 votes
1y
These are among our favorite residents to host. Insurance relocation rents are often capped (at least in our area) to be 1% of the insured value of the affected property per month. They will not offer that (instead relying on your advertised rate), but they will be willing to pay what you're asking without fuss as long as it is below that high threshold. The companies we've interacted with have all been very professional, and they have appreciated being treated respectfully and professionally in return.
Some have been willing to use our lease (through Avail.co) while others have wanted to use their own. Security deposits have been paid by the resident family half of the time and the relocation company half the time.
One perk with these companies is that they often extend the lease as construction timelines are notoriously difficult to estimate. We've had luck where if the family is able to move back in to their home earlier than expected, the relocation company has been OK with us looking for new residents without the company requesting a refund for the overbooked days. We always get that permission in writing, though, to cover our bases.
All in all, I recommend nurturing these relationships as these are among the best clients to serve in the MTR space.