Barcelona, Spain – 13 November 2024: According to new research from Rentals United – a leading vacation rental channel manager – a staggering 90% of property managers have experienced at least one incident of damage in the past two years, unearthing the extent of the issues in the sector. Even the best guests can accidentally cause damage to a property, hence the need for hefty security deposits – which in many cases, can deter guests from booking a vacation rental or will lead them to book a hotel instead. For property managers, who often still collect security deposits in person, this burden significantly adds to their workloads.
To further understand the burden of potential damages on vacation rentals, Rentals United conducted a 2024 survey with participants from 11 different countries, including the United States, Spain, Italy, and the United Kingdom.
Not only have 90% experienced at least one incident of this nature, but over half have dealt with three or more cases in the past two years alone. However, some property managers admitted that they waited until they had a personal negative experience before taking action. Further to this, the research found over half (55%) of property managers oversee more than 30 properties, highlighting the significant administrative role they take on – with hours spent managing incidents.
In light of these issues, Rentals United has highlighted the dire need for innovation within the space to address the destandardised nature of security deposits and sidestep the complicated process of dealing with damages. Services like Screen & Protect are bridging a vital gap in the industry, allowing owners to know their guests and safeguard their properties.
On top of that, properties offering Screen & Protect have seen increased bookings thanks to the option of removing security deposits – assuring that guests are protected from potential damage costs. Property managers can choose to increase the nightly rate of their properties to pass the cost of Screen & Protect onto their guests, and still see an increase in bookings.
By offering comprehensive protection, it not only saves property managers countless hours on managing damages but also safeguards the host’s reputation.
Rentals United’s CEO, James Burrows, commented:
“Property damage is a reality in vacation rentals – even the best guests break things. But the real stress is rarely the cost; it’s losing bookings if you ask for security deposits, or wasting time negotiating compensation with guests and insurance companies if you don’t. And when you involve guests in the process, friction or bad reviews often follow. Screen & Protect gives property managers complete peace of mind by proactively pre-screening their guests, so they can get to know them in advance. And if damages do occur, they’re easy to report without involving the guest at all.”
Screen & Protect Specifications:
- Comprehensive Protection : The Screen & Protect applies to a wide range of damages up to €50,000. The criteria is as follows:
– Property, its fixtures and/or fittings, or its Contents, caused by the actions or inactions, whether accidental, deliberate or otherwise. For the avoidance of doubt, this does not include Cosmetic Damage and/or Wear and Tear.
– Cosmetic Damage means damage that does not adversely impact the functionality of the property’s fixtures and/or fittings, or its contents. By way of example (but not limited to) damage that consists solely of scratches, scuffs, marks or dents.
– In terms of pet damage: Screen & Protect Extends solely to damages caused by unauthorized pets on properties that are not pet friendly, excluding authorized service animals - Get to Know Your Guest: Includes a guest screening process that verifies your guests, mitigating the risk of property damage before guests even check in.
- Simple Process: If damage does occur, property managers can report incidents easily through the Rentals United platform and Rentals United will handle the review and processing. 90% of requests, where all required information is submitted upfront, are processed within 5-7 business days.
- No Guest Involvement: Guests aren’t involved in the process – making it unique among similar services, where guests are notified and asked to provide an explanation or their own evidence – so there’s no need for hefty security deposits to deter bookings, or guest disputes to delay payments.
About Rentals United
Rentals United is a leading vacation rental channel manager, dedicated to growing their property managers’ revenue through cutting-edge technology.
Their tools connect property managers to 90+ listing channels, streamline operations and improve guest experiences, empowering property managers to maximize their earnings and grow their businesses.
Rentals United generated €1.3 billion in revenue for their clients last year, with over 150,000 properties connected worldwide to date. Over 1 million reservations have been processed for their clients and almost 6 million nights booked in 2023.