How Are You Handling Damage Protection for MTRs

[Brian Malavsky]

I’m testing out third-party damage protection plans in place of deposits. It’s worked well so far, but I’m curious what others are using—security deposits, insurance, or a hybrid approach? I actually haven't had to make a claim through Furnished Finder's Damage Protection so curious what that experience is like as well.

[James Carlson]

To me, these third-party damage protection options shift the power over the money away from the owner. Maybe it will be fine, but my experience with Airbnb's protections, for instance, is not good here in Colorado

We've needed some help with damage at our midterm rentals in Denver and Colorado Springs, and Airbnb sided heavily with the tenants and did not pay out what we thought they should. I've seen this with STRs in Colorado as well.

Tenants rights advocates might be happy how Airbnb handles these things (and I'm not a tenant hater, by any means), but I do like the comfort of keeping the deposit in our hands, not the hands of a third-party neutral.