MTR - How to protect furnished rentals?

[Roland Nejal]

What steps do you take to protect furnishings in your MTR rental agreements? What kind of verbiage can be used? For example, during a guest stay a furnished vase falls and breaks. How would that be resolved?

Much appreciated!

[Allen Duan]

Hi Roland!

This is primarily handled through the security deposit. There's no way to guarantee things won't break, there are only ways to protect yourself financially so you can replace those items. So don't leave anything in an MTR that is irreplaceable.

In addition to security deposits, you can also use the AirCover program for Airbnb bookings and third party services like Waivo and Safely that provide mini insurance per booking.

[Sarah Rosko]

Hi! In our rental agreements, we use the security deposit to cover any damages once the lease has ended. After the tenant moves out, we send someone to inspect the property for any damages, including furnishings like a broken vase. If we find damages, we withhold the necessary amount from the security deposit to cover repair or replacement costs. This process is outlined in our lease agreement to ensure transparency with tenants.

[Sylvia Santelli]

Hi Roland,

I manage my own MTR and co-host for others in North Dallas. Limiting issues and liability is the goal. Screening tenants well and then a security deposit or credit card hold process in place will limit liability. I also like to use incidental insurance as an additional layer such as Waivo to cover items.

[Zachary Deal]

Most folks protect the furnishings with a security deposit, would make sure that is detailed in your lease agreements