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🤑 STR Loans & More – Need funding for your next short-term rental? Expect expert guidance, personalized service, and the best possible rates.

May 22nd, 2025

Good afternoon STR Report Community!

In today’s issue, you will find:

📱Today’s Article: 🔐 Keep Your Rental Safe: Must-Know Tips for Preventing Guest Damage 🛋️

📈 Trending Market Highlight: Minneapolis, Minnesota and Anchorage, Alaska

✉️ STR News: Rental Escapes takes on 600 luxury villas in the US & more

💸 Mortgage Rate Watch

🎪 Unique Airbnb of the Week

🏫 Subscriber Perks: Go Live Playbook, including: Beginner’s Guide E-Book, Guest Communication Messaging Templates, Airbnb Welcome Guide Template, STR Buy Box Template, & Tax Savings E-Book

✅ Community Perks: Personal Airbnb Investment Finder and STR Loans & More

📬 See our collection of newsletters here: Prior Newsletters

🔐 Keep Your Rental Safe: Must-Know Tips for Preventing Guest Damage 🛋️

As a vacation rental host, your property is both a home for your guests and a business investment for you. While most guests treat rentals with respect, property damage is an unfortunate reality every host should be prepared for. Whether it’s a minor spill or significant breakage, damage can result in costly repairs, disrupt future bookings, and cause stress for both parties. Here’s how you can prevent property damage in your short-term rental, and what to do if it happens.

1. Set Clear Expectations with House Rules

Clear communication is essential in preventing damage. By setting house rules that guests must agree to before booking, you can outline expectations around things like smoking, pets, and acceptable noise levels. Be sure to include specific guidelines about respecting the furniture, appliances, and the property’s general upkeep. Displaying a printed version of the house rules in the property itself is also a good idea—reminding guests of the rules in a friendly but firm way can help reinforce your expectations.

2. Invest in Quality, Durable Furnishings

While you may want to create an inviting, stylish space, opting for high-quality, durable furniture and fixtures is a smart investment. Look for items designed to withstand wear and tear—think stain-resistant fabrics, sturdy wood, and easy-to-clean surfaces. Avoid overly delicate or expensive items that could be easily damaged. Opt for items that are both functional and aesthetically pleasing without breaking the bank. Durable furnishings may cost more upfront but can save you money in the long run by reducing replacements and repairs.

3. Conduct Thorough Inspections Before and After Each Stay

Routine inspections are crucial for preventing damage and identifying issues early. Before each guest checks in, perform a detailed walkthrough of your property to ensure everything is in working order and clean. Document the condition of the property with time-stamped photos or videos. After checkout, do a thorough inspection to spot any potential damage caused during the guest’s stay. If you notice anything amiss, address it immediately by notifying the guest and reaching out to the platform’s support team to file a claim if necessary.

4. Use Security Deposits to Cover Minor Damages

A security deposit is a standard practice for many short-term rental hosts. This deposit can be used to cover minor damages, such as broken dishes or stained carpets, and should be clearly outlined in your rental agreement. Be transparent about what is covered under the deposit and how it will be handled. It’s important to make the process as seamless as possible by promptly assessing any damage and returning the deposit if no issues arise. A clear deposit policy can discourage guests from being careless, knowing they could be financially liable for any damage.

5. Purchase Insurance and Protection Plans

Insurance is one of the best ways to protect your property from significant financial loss due to damage. Consider investing in short-term rental insurance that covers accidental damage caused by guests. Many platforms, like Airbnb, offer their own insurance policies—make sure you understand what is and isn’t covered under these plans. Additionally, check if the insurance policy covers theft, vandalism, or damages that exceed the value of the security deposit. For extra peace of mind, you might want to explore third-party protection plans specifically designed for vacation rentals.

6. Implement Damage Prevention Features

Consider adding preventative features to your property to minimize the risk of damage. For example, installing furniture covers or protective mats can help preserve your upholstery and flooring. You can also set up motion sensors or security cameras at the property’s entrance to deter any misconduct or vandalism (while respecting guest privacy). If you’re in an area where damage is more likely (such as near the beach, where sand can be a problem), make sure to offer cleaning supplies or set up an outdoor shower to help guests keep sand out of the house. These small touches can go a long way in preventing messes and damage.

7. Dealing with Property Damage When It Happens

Even with the best prevention strategies, damage may still occur. If it does, it’s important to remain calm and take the following steps:

• Document the Damage: Take clear photos and videos of the affected area and assess the cost of repairs or replacements. This documentation will be crucial for insurance claims or if you need to file a dispute with the guest.

• Contact the Guest: Politely inform the guest about the damage, and ask if they were responsible. Sometimes, guests may admit to the damage and offer to pay for repairs. If they are unwilling to take responsibility, refer to your house rules and security deposit policy.

• File a Claim: If the damage is significant and the guest is uncooperative, you can file a claim with the platform or your insurance provider. Be sure to do this promptly, as some policies have strict timelines for claims.

• Repair or Replace Damaged Items: Once the claim has been processed or the guest’s deposit is used, begin repairing or replacing the damaged items as quickly as possible to minimize disruption for future guests.

8. Maintain Open Communication with Your Guests

Finally, fostering open communication with your guests can help prevent misunderstandings and property damage. Always encourage guests to report any accidental damage immediately, rather than hiding it. This honesty allows you to address the issue quickly, preventing further problems. A friendly message in your welcome book or a quick check-in during the stay can also go a long way in establishing a positive, respectful relationship with your guests.

Final Thoughts

Property damage is an unfortunate reality for vacation rental hosts, but with the right precautions in place, you can minimize risks and handle issues quickly when they arise. By setting clear expectations, investing in durable furniture, maintaining a thorough inspection process, and utilizing security deposits and insurance, you can protect your investment and ensure a smooth, damage-free experience for both you and your guests. Always remember: proactive prevention is the best strategy for avoiding damage and preserving your property’s value in the long run.

Minneapolis, Minnesota 🏙️

Downloadable Minneapolis, Minnesota Short-Term Rental Market Report

• Average Daily Rate (ADR): $209.84 per night

• Occupancy Rate: 56.95%

• Annual Revenue Potential: Around $43,646.52 per year

Read our full Minneapolis, Minnesota Short-Term Rental Market Report attached above.

Anchorage, Alaska 🏔️

Downloadable Anchorage, Alaska Short-Term Rental Market Report

• Average Daily Rate (ADR): $236.46 per night

• Occupancy Rate: 55.42%

• Annual Revenue Potential: Around $47,828.03 per year

Read our full Anchorage, Alaska Short-Term Rental Market Report attached above.

📬 See our collection of 40+ market reports here: Prior Trending Market Reports

📝 Expedia launches AI-generated tool for easy travel booking
Expedia's new AI-powered Trip Matching tool generates personalized travel itineraries from Instagram reels, allowing users to seamlessly book hotels directly within the app, streamlining the booking process.

🏝️ Rental Escapes takes on 600 luxury villas in the US
Rental Escapes has expanded its luxury portfolio by adding over 600 villas across the U.S., offering exclusive, fully serviced properties with personalized concierge services for high-end travelers.

📱RMS integrates Breezeway tools to streamline operations
RMS Cloud has integrated Breezeway's automation tools into its platform, enabling property managers to streamline daily operations and enhance task efficiency.

💸Mortgage Rate Watch – May 22nd, 2025

Current Mortgage Rates (as of May 21, 2025):

• 30-Year Fixed: 7.08% (+0.09%)

• 15-Year Fixed: 6.39% (+0.04%)

• 30-Year Jumbo: 7.13% (+0.03%)

• 30-Year FHA: 6.52% (+0.11%)

• 30-Year VA: 6.54% (+0.12%)

• 7/6 SOFR ARM: 6.49% (+0.01%)

Market Overview:

Mortgage rates have reached a three-month high, with the 30-year fixed rate climbing to 7.08% on May 21, 2025. This increase follows a series of upward movements over the past week, influenced by factors such as the U.S. credit rating downgrade by Moody's and ongoing fiscal concerns, including the budget battle.

The bond market's response to these developments has been reflected in rising Treasury yields, which typically lead to higher mortgage rates.

Rate Trends & Forecast:

• Short-Term: Mortgage rates are likely to remain volatile, influenced by economic data releases and fiscal policy developments.

• Long-Term: The trajectory of mortgage rates will depend on broader economic conditions, including inflation trends and Federal Reserve

For real-time mortgage rate updates, visit Mortgage News Daily.

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The Outlier Inn is a 12-acre farm retreat nestled in New York’s southern Catskills, just 90 miles from NYC, offering guests a unique blend of rural tranquility, creative inspiration, and farm life. Guests can stay in a cozy glamping dome outfitted with a full bed and access to outdoor amenities like hot showers, a clawfoot tub, a full outdoor kitchen, and a communal fire pit. The property features sheep, goats, alpacas, chickens, a pond, and scenic trails, plus a recording studio, fiber arts workshop, and soon, a vintage clothing store. Visitors are encouraged to engage with the land, animals, and creative community, with optional yoga classes and locally sourced food available.

Subscriber Perks:

📖🏡💰 Go Live Playbook

The "Go Live Playbook" is your all-in-one guide featuring a beginner’s guide e-book, messaging templates, Airbnb welcome book, STR buy box template, and tax savings tips to kickstart your short-term rental success.

Community Perks with The STR Report

🔎 Personal Airbnb Investment Finder – Connect with an expert to handpick profitable Airbnb properties that match your criteria. With 213+ successful deals, all cash-flowing, you’re in good hands. Take 15 seconds to fill out the form to see how all of these properties are experiencing at least a 15% Cash-on-Cash return.

🤑 STR Loans & More – Need funding for your next short-term rental? Expect expert guidance, personalized service, and the best possible rates.

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