Generally speaking, Steadily accepts 1-4 unit dwellings used as short or long-term rentals with the following occupancy types:
Rental:
- Insured property is solely rented to others: policy intended to protect the landlord/ rental property owner.
- Short and long-term rentals acceptable
Seasonal:
- Insured owner resides at property seasonally: rented to others when not in use
- Rental exposure required -
- No specified amount of time insured/owner must reside in home
- Cannot be vacant over 60 days
- Short or long-term acceptable
- Ineligible: secondary homes occupied solely by owner
Rental with Owner:
- Owner-Occupied Rental Property
- Single-Family Dwelling
- 1+ rooms are rented out (short or long-term)
- Entire home rented out short-term (no min. days required)
- Lease document required by underwriting
- AirBNB/VRBO: shows home listed on site or proof of past listing
- Mark "Yes" to "Is this a short-term rental (less than 3 months)?" on Dwelling Tab
- Multi-Family Unit Dwelling
- Insured resides in 1 unit, rents out remaining units on short or long-term basis
- No lease documentation required by underwriting for multi-family