Why Hosts Should Never Risk Going Off Platform When Renting Out a Property
Short-term rentals of the past were much more chaotic when everything was offline. You most likely had to go through an agency and spent hours calculating balance sheets by hand. Today, online platforms like 2nd Address provides a simple and secure way to list your properties.
An online platform not only provides a more steady stream of guests, but also secure transactions between you and the guests. Most importantly, it offers you protection when things go wrong so that your rental income is safeguarded.
Here are the top five perks that you can expect from sticking to 2nd Address rather than arranging bookings outside the platform.
1. ID verification and tenant screening
Trust is the key to online short-term rentals. When it comes to property hosts, the process of guests ID verification can be time-consuming and expensive. If the booking is made outside a platform, most hosts simply don’t have the resources to guarantee a guest is going to pay.
However, you can rest easy knowing that 2nd Address conducts thorough background checks on guests, including criminal records, credit history, and even tenant interview. This rigorous process allows hosts to rule out fraudsters and those who are not safe to host. This process even includes sophisticated facial recognition technology for the verified identity of all its guests.
2. Automatic property insurance
In the event that something doesn’t go as planned and there’s been damage to the properties, hosts are often vulnerable. Beyond keeping the security deposit, property hosts are left with very little recourse in recuperating the cost of repairs. Without protection from an established platform, they have no leverage to ensure that guests will maintain the asset and the furniture properly.
This is why 2nd Address offers an added level of protection for its hosts. If there is ever an incident where a tenant is responsible for damage to the rental property that exceeds the amount of the deposit, 2nd Address will reimburse up to $10,000 for property damage. This protection is more than enough to cover any foreseeable damage a guest could potentially inflict to the property.
3. Transparent review system
Reviews are important criteria for guests to judge the quality of a property. The fact is, 90% of consumers read online reviews, and 88% of them trust online reviews as much as personal recommendations. A listing with a significant number of favorable reviews is much more likely to win over a potential guest.
Reviews are also a major factor for 2nd Address to decide how much visibility your property should get. The more reviews your properties have, the more likely you will get featured in front of guests. Every time you make a booking outside the 2nd Address platform, you risk losing a precious review.
2nd Address truly creates the passive income scenario that you have been dreaming about. After a simple online setup process, funds are directly deposited into the account of your choice. Hosts enjoy 100% certainty of on-time rent payments without the awkward conversation asking guests for money.
Think about all the time you waste calling, reminding, and visiting the tenants while worrying about when the rent is going to arrive.
Running a short-term rental as a business means you will deal with all kinds of guest on your properties. You are likely to run into a dispute with them, from complaints about not having enough towels to horror stories about tenants who refuse to leave on time.
This nightmare scenario for any host is, unfortunately, a real possibility. Tenants rights can be complicated, which means renters can potentially stay for an extended period of time before legally removed from the premises.
By hosting on 2nd Address, you can rest assured that you have someone to call in case of a dispute. From mediating disagreements to removing overstaying guests, professional rental property managers from 2nd Address always have your back.
Arranging bookings outside the platform might sounds less effort but it puts you in a vulnerable position when accidents happen. Once you become attuned to managing bookings online, you enjoy the services of a virtual property manager that’s safe and secure, at a fraction of the cost.