Atlas VMS, a valuation management company providing appraisal and technology solutions, now has Atlas STR Insight, a short-term rental (STR) appraisal form designed to help non-QM lenders accurately evaluate short-term rental properties.
Traditional appraisal forms, like Form 1007, were built for long-term rentals, not nightly stays. When applied to STRs, they often overlook seasonal demand, event-driven spikes, day-of-week pricing and STR-specific expenses, leading to valuations that misstate both income potential and risk.
With Atlas STR Insight, appraisers can leverage specialized STR data sources, including AirDNA, which captures booking data from Airbnb. Atlas VMS will provide appraisers access to AirDNA data reports as needed.
With these datasets, Atlas STR Insight captures:
- Seasonal average daily rate (ADR) and occupancy curves;
- Revenue performance around major events and local attractions;
- Weekday vs. weekend rate differentials; and
- Key STR benchmarks such as RevPAR and length-of-stay patterns.
This seasonality engine feeds directly into the appraisal, giving lenders a realistic, market-aligned view of how a subject property is likely to perform across the full year—not just in a single “average” month.
“Short-term rentals don’t behave like traditional rentals, and they shouldn’t be appraised like them,” Erik Morin, CEO of Atlas VMS, said in a release. “By pairing STR-specific valuation methodology with robust market data sources like AirDNA, Atlas STR Insight gives non-QM lenders clear, defensible look into real STR economics so they can lend with confidence.”