STRpro Blog

Revolutionizing Short-Term Rental Appraisals: Introducing Our Customized Appraisal Form - STRpro

Written by: Jordan Sandlin, Senior Marketing Coordinator
Edited by: Charlie Johnson, SVP - Sales Team Lead

In the dynamic world of short-term rentals (STRs), the need for specialized appraisal tools has become increasingly apparent. Standard 1007 forms, commonly used for Investment Property appraisals, fall short in addressing the unique aspects of STRs and pose a significant compliance risk. Recognizing this gap, we have developed a customized appraisal form designed specifically for the STR market, STRpro.

Why Specialized STR Appraisals?
‍Short-term rental properties operate in a market that’s different from traditional real estate. Factors like seasonal demand, local tourism trends, and varying occupancy rates are crucial in determining their value. Traditional appraisal forms are not equipped to account for these variables and many others, leading to inaccuracies and potential compliance issues within the reports. This is where our specialized STR appraisal form steps in, offering a solution tailored to meet these unique challenges.

Features of Our Customized Appraisal Form

Our appraisal form stands out with its customizable approach, offering a solution to stand on its own or be combined with a full appraisal report. It adapts to the specifics of each property and its market, ensuring amore accurate valuation. The comprehensive rental market analysis and comparative grid offer an in-depth look at the property’s potential income. We also prioritize risk mitigation, adding a layer of protection against loan default and other compliance related issues. Our data is sourced from reliable platforms such as AirDNA and Rabbu, ensuring consistency and accuracy. Furthermore, our approach potentially eliminates the need for inspections in certain scenarios, streamlining the appraisal process while maintaining thoroughness and compliance.

Our Experience and Expertise

‍Our expertise is well-established with over two years of specialized experience in STR appraisals and having successfully completed over 600 appraisals in this sector. This experience not only speaks to our understanding of the market but also to the trust and reliability we offer our clients.

Our Network and Operations Team

We pride ourselves on our specialized network of over 100 appraisers, covering major vacation markets. This network is continually expanding to meet the increasing demand. Additionally, our dedicated STR Operations Team ensures a seamless appraisal process. From the first point of contact to specialized Reviewers and Quality Control Support, our team is equipped to handle all aspects of STR appraisals with precision and professionalism.

Why Choose STRpro?

Our appraisal form is a game-changer for lenders, real estate professionals, property managers, and Investors operating in the STR space. It offers a more accurate, reliable, and efficient way to assess the valueof STR properties. Our customized appraisal form for short-term rentals addresses the specific needs of the market with precision and expertise. Weoffer a solution that goes beyond the capabilities of standard appraisal forms, providing our clients with the detailed and accurate information needed to make an informed decision.

If you are interested in learning more about STRpro, please contact us at sales@nationwideamc.com.We welcome your feedback and questions and look forward to assisting you throughout all your STR appraisal needs with STRpro.