Experience seamless leasing through our comprehensive Leasing Agreement and landlord-approved sublet consent. Our fully-furnished properties attract clients from various regions for short-term stays. Post each departure, our dedicated cleaning team ensures the property is immaculate for the next guest. Enjoy the convenience of receiving monthly rent payments in advance via an auto-debit system. We cover all operating costs, including short-term rental insurance. Simplify your landlord experience—deal only with us, as we handle all aspects of property management.
**MAINTENANCE AND RULES**
We manage all minor maintenance tasks and conduct thorough professional cleaning after every stay. Our guest screening process focuses on corporate clients and individuals within our organization. Stringent rules are in place, including no pets, no smoking, no parties, no extra guests, and quiet hours after 11 PM. Anticipate minimal wear and tear in the long term compared to a standard tenant. Our dedicated short-term insurance policy, tailored for rental durations, is consistently active for added protection (see details below).
More than just property management, Realtevo Investments offers an unwavering commitment to your home's well-being and guest experience. We specialize in Vacation Rental Management and Sublet Management, treating your space as if it were our own. We meticulously maintain its cleanliness and perfection to create an atmosphere of enduring warmth, hospitality, and unparalleled guest experiences.
Our commitment to exceeding expectations:
Impeccable Cleanliness: Experience a pristine environment surpassing your expectations for hygiene and comfort.
Consistent Perfection: We anticipate your needs, ensuring your home is always ready for you, your guests, or your tenants.
Unwaveringly Welcoming: Relax in an atmosphere that reflects your unique personality and style, fostering a sense of belonging and delighting your guests.
Enhanced Guest Experiences: We go above and beyond with amenities, anticipating and fulfilling your guests' every need.
Omni-Channel Expertise: We manage your listings across all major vacation rental platforms, maximizing visibility and bookings.
Smart Pricing Strategies: Our customized algorithms adapt to the daily market demand and season, using multiple data points to determine the right price for maximum profitability.
Personal Touch: We extend the utmost care and respect, understanding the significance your home holds for you and your guests.
With Realtevo Investments, your home is more than an address; it's a cherished sanctuary, meticulously cared for, expertly managed, and optimized for guest satisfaction. Let us transform your house into a haven for relaxation, rejuvenation, and the creation of lasting memories for you and your guests.
SHORT TERM RENTAL INSURANCE (CLICK FOR MORE INFO)
Short-term rental insurance is an insurance plan that covers vacation rentals. It's important to note that short-term rental insurance only covers paying guests in your home, not friends or family staying for free.
This insurance covers your property and liability exposure while a paying guest stays at your rental home. For example, short-term rental insurance will protect you from any financial liability if a guest gets injured at your property and sues you.
Keep in mind that this type of insurance is only for short-usage cases, not year-round residents. For year-round residents, you must purchase landlord insurance.
Most short-term rental insurance plans cover:
Excess use of utilities
Loss of income
Liquor liability
Infestation
It's also worth noting that short-term rental insurance is typically offered as an endorsement added to your homeowner's insurance policy. Other insurance companies may require you to purchase a separate policy for short-term rental insurance.
The endorsement also varies, as some cases would only cover the days that guests are staying at your rental. This type of insurance would not cover any damages on the property during guest-free durations.
Those renting their homes for short stays should purchase short-term rental insurance. But, the list of people who should look into vacation rental insurance isn't limited to homeowners only.
If you are even renting out your apartment or cabin in the woods for short stays, you need to consider your short-term rental insurance coverage. That includes those renting out the whole unit or just one or a few rooms.
But, you must consult your landlord to see if they allow subletting. In addition, short-term rental insurance is necessary for additional coverage that all short-term renters need.
If you want to purchase a short-term rental insurance policy, it's best to check with a reputable insurance provider who specializes in rental property insurance. They may offer an affordable policy or short-term rental insurance as an endorsement or rider.
Compare coverage and prices before concluding which insurance provider offers you the best value. Get a free quote from each company and compare the quotes to see which prices and coverage work best for you. Companies like Steadily do this price-comparison on your behalf, saving you time and money.
Once you have obtained a quote, be sure your policy covers your specific type of short-term rental property. Visit the FAQs below to find out some questions you should ask during the research process.
Most insurance providers offer pretty affordable plans, considering the coverage included in short-term rental insurance policies. In addition, you can get a free quote from each insurer to determine how much you'll need to pay each year.
The average cost for a short-term rental insurance policy ranges between $2,000 and $3,000 every year in the US. However, this range can increase up to $9,000 per year if your rental home is in popular tourist destinations like Florida or California.
Here are a few factors that influence the cost of your short-term rental insurance policy:
Of course, the location of your short-term rental is the most influential factor. If your rental is near a tourist attraction, the cost of your insurance plan will increase drastically.
Some short-term rental insurance policies only cover the days that guests are staying at your property. As a result, the rental frequency is also an influential factor in the cost of your insurance plan.
If your rental is used very frequently, the insurance costs will be much higher.
If your deductible premiums are high, the monthly insurance cost will be lower than average.
Replacement costs also influence the cost of short-term insurance policies. For example, if your property is full of expensive assets to repair, your insurance bill will be much higher.
Lastly, the amenities provided in your short-term rental also affect the insurance cost. Amenities that bump up the insurance bill due to higher risk potential include hot tubs, fireplaces, and swimming pools.
Related Reading: How to Make Money on a Vacation Rental Property
Choosing the right short-term rental insurer isn't simply a matter of who offers the cheapest insurance plan. There are a few other factors to consider, such as coverage deductible, etc. You can ask your insurer questions to see if they are suitable for you; here are a few.
Since new guests check in and out of your property every other day, accidents are inevitable. You must ensure that your insurer provides adequate coverage for even the worst-case scenario.
Business income, liability, and building and contents are a few major areas of risk exposure when it comes to short-term rentals. Ensure that your insurer understands the risk potential in these areas and provides backup for all related mishaps.
When you're hosting a short-term rental, generating revenue isn't as easy as it may seem. However, failing to protect yourself from loss of income will send all your efforts down the drain in the worst-case scenario.
This is why you must ensure that your insurance provider protects against loss of revenue and inquire how they handle such a situation in detail. Asking about specific circumstances may also help your case, with questions such as:
What happens to confirmed reservations?
What happens to vacant nights on my calendar?
How will I be compensated?
The "Deductible Amount" refers to the amount you must pay before the insurance kicks in, holding you accountable. A higher deductible means that you'll have to pay a lower monthly insurance cost.
This amount varies based on the coverage offered in the insurance plan. Ensure to inquire about the deductible in great detail before agreeing to the policy.
Of course, the first step is to get a free quote from the insurance company to determine how much you will have to pay. However, you'll find that most insurers don't mention hidden and additional fees you'll have to pay along the way.
Transparency is the main characteristic of a reliable insurance provider, so you must ensure that the insurer is upfront about all payments in your first interaction. This way, you'll also be able to measure how much you need to put aside each month for insurance.
Related Reading: How to Start an Airbnb Business
Airbnb insurance is automatic protection for those that rent their property through Airbnb. Of course, it doesn't offer the same level of coverage as a short-term rental insurance policy, but it's still an adequate measure for those that can't afford it.
This insurance covers up to $1m primary liability in case of property damage or bodily injury. It will also provide coverage for when your guests damage any property in common areas like building lobbies.
However, it does not cover environmental damage such as mold or intentional damage/injuries. It also does not provide coverage for loss of earnings.
Purchasing short-term rental insurance is one of the first steps to take while renting out your home for short stays. With guests checking in and out every day, accidents are bound to happen, which is why you must ensure protection from financial burdens.
If you need a reliable insurer for a short-term rental insurance policy, look no further than Steadily. They offer dedicated insurance plans for your rentals against legal liabilities, fire and water damage, natural disasters, guest injuries, and more.
Do Homeowner's or Landlord's Insurance Cover Short-Term Rentals?
Most homeowners' or landlord's insurance policies do not cover short-term rentals as they are considered a business venture. However, your insurer may provide this policy as a rider or endorsement.
How Do I Choose the Best Short-Term Rental Insurance Provider?
You must consider factors such as coverage and deductible while choosing the best short-term rental insurance provider. It's also important to understand the insurer's financial strength and look for available discounts and powerful referrals.
Do I Need Vacation Rental Insurance?
If you are renting out your home for short stays and vacations, then yes, you need vacation rental property insurance. Although your rental management company will provide basic coverage, it won't be enough in the long run. Short-term rental insurance covers the worst-case scenarios for you and your guests.