The partnership will supplement Guesty’s Damage Protection offering, enabling short-term and vacation rental property managers to access “comprehensive, fast and affordable” landlord insurance from within the Guesty marketplace.
Steadily’s property protection covers those affected by damage caused by weather, fire, water, vandalism, and liability coverage for guest injuries and lawsuits. The new integration adds to the suite of existing tools on the Guesty platform, which includes communications, operations, growth and financial solutions for short-term rental property managers.
Launched in 2020, Steadily offers an online insurance product with what it describes as a “unique competitive advantage” for short-term and vacation rental owners and property managers. Steadily makes the process digital to offer some of the most competitive rates available in the market, with embedded quotes delivered in minutes from within Guesty’s digital ecosystem.
Adam Swearingen, SVP growth and partnerships at Steadily, said: “The short-term rental industry is in hyper-growth mode, driven by both demand from travellers and increasing interest from investors who recognise the opportunity this market brings. In fact, short-term rentals yield 30 per cent 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 adviser for investors needing to protect their investments, but to provide a delightful experience for both investors and short-term property managers along the way,” he added.
Steadily and Guesty have shared roots with alumni founders from the prestigious startup accelerator, Y Combinator. The two companies said that they share a joint vision to simplify the complexities of rental property ownership and management by offering intuitive tech paired with elegant design.
Steadily founder Darren Nix said: “Guesty is empowering short-term rental property managers with a digital-first platform that is uniquely built to anticipate and serve their needs. Steadily was founded on this same idea, and works like the other modern tools that property managers know and love.
“The partnership is a natural alignment between our two brands and offers additional value-add to short-term rental property owners who need reliable insurance with peace of mind as an additional insured. We are delighted to be partnering with Guesty to offer fast, affordable insurance to short-term rental property managers across the United States,” he added.
The Steadily integration will be made available to property managers using the Guesty platform later this autumn.
Steadily is aiming to rapidly “remake” the insurance segment and is backed by investors including Matrix Partners, Zigg Capital, Next Coast Ventures, Nine Four Ventures and SV Angel. The company raised $27.8 million in a Series A funding round last November.