“We are using Know Your Guest for our Short Let Property Management Company to offer extra insurance to our landlords when booking directly or on Booking.com. We have been very happy with the services and peace of mind they offer our clients.”
Head of Client Success at Guest365
What is risk management?
Risk management in the short-term rental industry involves identifying and evaluating the risk related to each booking, so they can then be proactively managed to optimise the success of each stay.
The short-term rental industry is expanding rapidly and as a result, the rise of fraudulent bookings, bad guests and even fraudulent hosts has increased.
Know Your Guest was created to establish professionalism in the industry while building trust between guests and owners, minimising risks for all.
Who is Know Your Guest?
Know Your Guest is software that provides property managers and, in turn, owners with the foresight to reduce risk before a problem arises.
As an owner, you hand over valuable assets (your properties) each and every day to guests, and if you don’t have risk management in place, you’re left in a vulnerable position if something were to go wrong.
Our software helps mitigate risk and gives you the confidence that:
A. You have a dependable guest staying in your property.
B. You are covered if something were to go wrong, however big or small.
Why is my Property Manager using Know Your Guest?
As one of the leading risk management solutions in the industry, we help property managers protect your properties from unknown guests, out-of-control parties, criminal damage and illicit activities by providing preventative products.
We also offer post-stay mediation with our damage protection, helping to resolve accidental damages quickly, with our dedicated in-house team on hand to support you throughout our resolution process.
We help improve the guest experience
Accidents happen. We know this, you know this, and guests know this. The security of having Know Your Guest removes any friction – such as bad reviews – that can arise post-stay if an accident occurs.
We help remove manual processes through automation
Property managers can diminish the time associated with handling guest-related damages, chasing guests after their stay and the hassle associated with physically collecting and refunding deposits.
We help cover minor incidents of damage quickly
Our Damage Waiver and Deposit solutions allow your property manager to sort out any guest damages as quickly as possible and keep your property online and taking bookings.
How does Know Your Guest Damage Protection compare to my property insurance?
Know Your Guest damage protection protects against guest-related damages up to $5millon*.
While our Damage Protection covers you while you host a guest, it is not a substitute for standard homeowner’s or landlord’s insurance policies. You may be required by law to maintain specific policies. As such, we recommend you have valid home insurance, appropriate liability coverage, as well as our damage protection in place.
Important: Our Damage protection is for owners whose home insurance/policy does not cover damages caused by short-term rental guests. We recommend you speak to your insurer to see what your policy includes, as not all property owner’s home insurance cover damages caused by short-term rental guests.
*Other currencies are available, including, but not limited to: GBP/EUR/AUD/CAD/ZAR. The value will be dependent on the current exchange rate at the time a resolution is processed.