Let’s say a guest causes $1,500 in damages and your security deposit is only $500. I’m wondering if anyone has experience with what they’ve done in situations like this. I’m wondering specifically for Airbnb, given they have their “aircover” program. I’ve heard mixed reviews about it. It seems like a lot of people say they don’t really pay out anything. However I’ve also heard people say they’ve gotten paid out over $2K in damages and the process was easy. I’m wondering how the Ownerrez security deposit may complicate things. I’m specifically looking for people who have real world experience with this type of scenario. I’m not looking for hypothetical scenarios.
In case anyone is wondering, I have two STRs for about 3 years now. I’ve never been in the situation described, but I know eventually it’s just a matter of time. So I’m wanting to know the best way to approach it.
