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March 4, 2025

Frequently Asked Questions: Worry Free Waiver

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The Worry-Free Waiver (WFW) is designed to give landlords peace of mind by providing coverage for accidental damage, early lease termination, and certain losses. This FAQ answers common questions about how the waiver works, what it covers, and how to submit a Notice of damages. Whether you're considering purchasing the WFW or already have one in place, this guide will help you understand its benefits and requirements. 

1. What does the Worry Free Waiver (WFW) cover? 

Rule of thumb: typically, if this is something you’d withhold from a security deposit, it will likely be covered by the Worry Free Waiver.  

The Worry Free Waiver covers: 

  • Accidental tenant-caused physical damage (e.g., broken furniture, cracked TV screen, hole in the wall, pet damage to a chair, etc.)  
  • Theft by the tenant during their rental period (with a valid police report detailing the stolen item(s) and renter’s name) 
  • Lost rental income due to qualified early lease terminations 
  • Cleaning in relation to damage caused by the tenant (e.g., wine on your couch, stained rug) 

What’s not covered:   

  • General wear and tear (e.g., loose door knobs, clogged toilets or sinks, scuffs & scratches, sewer back ups). 
  • Maintenance (e.g., appliances or electronics that quit working with no signs of physical damage) 
  • Cosmetic damage 
  • General cleaning 
  • Odor/Smoke 

 For a full list of what’s covered by the Worry Free Waiver please visit the Terms & Conditions.   

2. How will I be charged for the WFW? 

The Worry Free Waiver is billed monthly to the payment method on file. The total cost is based on the selected coverage amount and the length of the tenant’s stay. If your lease starts or ends mid-month, you’ll be charged a prorated amount for that period. 

3. Who needs to purchase the Worry Free Waiver, the landlord or the tenant? The landlord is responsible for purchasing the Worry-Free Waiver, and importantly the waiver needs to be purchased ON or BEFORE the start date of the lease. Some landlords do pass along the cost to their tenants in the form of an increased rental fee. NOTE: Any waivers purchased after the start date of the lease will be deemed ineligible. 

4. When do I have to purchase the WFW so I'm covered? Before your tenant moves in. The waiver must be purchased by 11:59 PM the day the lease starts. It cannot be purchased after the lease begins or it will be deemed invalid. 

5. Can I still charge a security deposit? Yes! Ultimately, you are in control of what level of protection you feel comfortable with on your rental property from accidental or intentional damage. For many landlords, the Worry-Free Waiver offers a great alternative to replace a traditional refundable security deposit without the upfront cost to your tenant. However, some landlords choose to use both for added protection. It’s entirely up to you! 

6. Do I have to purchase it even if I don’t have a tenant yet? No, you should not purchase a waiver until you have agreed to a booking with a tenant and have a lease agreement in place with a start and end date.  

7. How can I modify the WFW? (Dates, Names) To modify your Worry Free Waiver, log into your Furnished Finder Dashboard and select the "Modify/View" option under your waiver purchase. Extensions must be added before the original waiver expires to remain valid. If you have further questions, contact the Furnished Finder customer support team and we’ll be happy to assist you.  

8. What happens if a tenant damages something? How can I submit a Notice of damages? If your tenant does damage your property during their stay, follow these simple steps to submit a Notice:  

  1. First check the Terms and Conditions to confirm you meet the requirements. You must submit a Notice within 14 days of the tenant vacating the property. 
  2. Once you’ve determined the damage caused is eligible for reimbursement, fill out a form here:  https://waivo.io/furnished-finder-notice/.  
  3. Notices will require: 
  • Three photos of each damaged item (close-up, full item, and identifying brand tag) 
  • Cost estimates or receipts (if available) 
  • Links to replacement items 

Waivo will provide an initial response within two business days of receipt of the Notice. 

9. How long does it take to receive reimbursement? The process typically takes 2-3 business days after approval. Payments are processed via ACH.  

Author: Furnished Finder Team