The dreaded security deposit. It’s dysfunctional and a pain point for both the manager and the guest. Damage insurance programs are an alternative, but are far too labor intensive. Hence, the birth of Waivo®, vacation rental damage done right.
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The past decade has shown an invasion on the margins of vacation rental managers, from higher OTA fees to higher new owner acquisition costs. Yet, it’s the manager that deals with the owners and delivers the guest experience. The Waivo program allows managers to offer peace of mind protection to their owners, a seamless solution for their guests, and a big revenue source for them.
Each booking is automatically protected up to the limit the manager chooses for their program, which can be a low as $500 in damage, all the way up to $10,000. The cost, protection, and revenue stream to the manager are all best-in-industry. And the best part, there is no communication necessary with the guest to resolve a damage settlement. This makes for a happy owner, guest, and manager.
The past decade has shown an invasion on the margins of vacation rental managers, from higher OTA fees to higher new owner acquisition costs. Yet, it’s the manager that deals with the owners and delivers the guest experience.
A considerable downside with traditional security deposits and damage insurance programs is the inevitable communication with the guest. Not only is this a time-suck and a drain on payroll, but it can ultimately lead to negative reviews.
With security deposits, there is no third party to facilitate, so the process gets uncomfortable quickly; and insurance is over-promised, complicated, slow and tends to deny damage claims regularly. Either way, they both can be avoided with Waivo as our program allows the manager to quickly identify damage, document, and receive settlement. All without communication to the guest.
A considerable downside with traditional security deposits and damage insurance programs is the inevitable communication with the guest. Not only is this a time-suck and a drain on payroll, but it can ultimately lead to negative reviews.
At Waivo, we don’t believe in the term “accidental” as so many of our competitors do. To us, damage from a guest is damage from a guest regardless whether it was an “accident” or not. Accidents do happen, but so do intentional acts and it only makes sense to provide protection for both.
Our approach to damage is that all parties involved should be satisfied and the key is the fee. The guest is charged an appropriate fee for protection, which in-turn gives the owner peace of mind. Then we settle damage quickly and generate revenue for the manager. When you remove greed, the process works incredibly well for all parties involved. Waivo simply facilitates this process with the backing of insurance.
At Waivo, we don’t believe in the term “accidental” as so many of our competitors do. To us, damage from a guest is damage from a guest regardless whether it was an “accident” or not.
