Steadily, a US-based rental property insurance provider, has partnered with Guesty, a short-term rental property management platform to offer integrated landlord insurance.
Guesty’s platform is used by customers to centralise their reservations, guest communication, operational tasks, cleaning management and more across major booking OTA channels such as Airbnb, Vrbo, Booking.com, Tripadvisor, Expedia, Agoda and direct booking websites.
Launched in 2020, Steadily offers an online insurance product for rental property owners specifically tailored to short-term and vacation rental owners and property managers.
The partnership will see Steadily’s landlord insurance offering accompany Guesty’s existing Damage Protection, which provides coverage for a wide range of potential damages caused by a guest.
Steadily’s property protection covers damage caused by weather, fire, water, vandalism, and liability coverage for guest injuries and lawsuits. The partnership also means that Guesty customers now an end to end insurance product with full protection and “zero friction”, according to Steadily.
Moreover, Steadily said the partnership adds to the substantial suite of existing tools on the Guesty platform, which includes communications, operations, growth, and financial solutions for short-term rental property managers.
“The short-term rental industry is in hyper-growth mode, driven by both demand from travelers and increasing interest from investors who recognize the opportunity this market brings,” says Adam Swearingen, SVP Growth and Partnerships at Steadily. “In fact, short-term rentals yield 30% more profits for homeowners/investors than long-term leases. With this demand, we are very excited to partner with Guesty to not only be a trusted advisor for investors needing to protect their investments, but to provide a delightful experience for both investors and short-term property managers along the way.”
Guesty recently raised $170m in a Series E funding round led by Apax Digital Funds MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round.
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