# STR Condition Report
# Scattered Data → Structured, Source-Verified Condition Report

> We transform scattered STR data into a structured, source-verified condition report. 72-hour delivery.

## Primary Value Proposition

**STR Condition Report**

We transform scattered STR data into a structured, source-verified condition report, delivered in 72 hours.

For: STR Mortgage Brokers · Buyers · Lenders

## The Documentation Gap

Most STR loans close without independent operational documentation.

**Standard loan files typically include:**
- Home inspection (structure, mechanical systems)
- Appraisal (comparable sales, market value)
- Title search (legal ownership, liens)
- DSCR calculation (current income vs. debt service)

**Standard loan files typically do NOT include:**
- Independent documentation of revenue sustainability
- Independent cost structure analysis
- Independent guest experience documentation
- Independent regulatory compliance verification

Borrower reports income. What does independent documentation show?

The STR Condition Report provides the missing operational documentation during underwriting.

## What the Report Covers: Four Pillars

**1. Revenue Documentation**
We document:
- Pricing trends and historical patterns
- Occupancy patterns and booking trends
- Revenue consistency across data sources

You receive: Source-verified revenue documentation

**2. Cost Structure Documentation**
We document:
- Fees as percentage of revenue
- Variable cost patterns and variance
- Expense patterns and historical trends

You receive: Source-verified cost analysis

**3. Guest Experience Documentation**
We document:
- Guest experience trends over available period
- Review sentiment patterns and response quality
- Design and presentation quality

You receive: Source-verified guest sentiment documentation

**4. Regulatory Status Documentation**
We document:
- STR permit status via public records
- Zoning compliance for short-term rental use
- HOA restrictions and regulatory status

You receive: Source-verified regulatory status per public records

## The Condition Score (0-100)

Every property receives a Condition Score from 0-100 across all four pillars.

- 90-100: Strong Condition
- 80-89: Stable Condition
- 67-79: Moderate Condition
- 58-66: Elevated Variance
- <58: Material Concerns

Every finding includes source data references.

**Scope:** Scores document historical operational condition as of report date. They do not predict future performance, constitute advice, or recommend actions.

## Who Orders the Condition Report?

**STR Mortgage Brokers (Primary)**
- Situation: Underwriting STR loans beyond standard DSCR
- Common use: Supplemental documentation for loan files
- How used: Provides underwriters with operational evidence beyond income statements

**Lenders & Loan Officers**
- Situation: STR loan underwriting or portfolio monitoring
- Common use: Operational documentation beyond DSCR
- How used: Review operational metrics as supplemental data for underwriting decisions

**1031 Exchangers (Highest Urgency)**
- Situation: 45-day identification deadline, evaluating replacement properties
- Common use: Comparative operational documentation across options
- How used: Review comparative data for exchange decisions

**Buyers in Due Diligence**
- Situation: Under contract, 10-21 days before closing
- Common use: Independent operational documentation during due diligence
- How used: Supplement to standard due diligence materials

## DSCR vs. Condition Report

**DSCR (Debt Service Coverage Ratio):**
Measures whether current income covers debt service at a point in time.

**Condition Report:**
Documents the underlying operational factors that influence whether DSCR remains stable over time.

Two properties can pass DSCR today but have different operational condition:

**Property A:** DSCR 1.25 ✓ | Condition Score 92/100
- Strong revenue position, stable cost patterns, excellent review trends, secure permits
- Documented indicators: Strong operational fundamentals

**Property B:** DSCR 1.25 ✓ | Condition Score 61/100
- Revenue position declining, cost variance increasing, review quality trends negative, permit questions
- Documented indicators: Operational concerns documented

## How It Works

**Step 1: Client Sends Data (15 minutes)**
Order report and upload property management statements, guest reviews, and basic property details.

**Step 2: We Analyze (72 hours)**
Systematic analysis across all four pillars with source-verified documentation.

**Step 3: Report Delivered (15-20 pages)**
Condition Score across all four pillars with documented findings and evidence sources.

**Step 4: We Debrief (30-minute call)**
Walk through findings and answer questions about methodology.

## What's Included

**STR Condition Report™** includes:
- Condition Score across four pillars
- 15-20 page report with documented findings and evidence sources
- Findings ranked by significance with source references
- 30-minute review call to discuss methodology and answer questions

Delivery: 72 hours from complete data receipt

## Our Role: Documentation Only

STR Condition Report provides independent documentation. We do NOT:
- Provide advice or consultation
- Recommend whether to approve, decline, or exit transactions
- Advise on pricing, negotiation, or contract terms
- Predict future performance or outcomes
- Provide legal, financial, tax, or investment guidance
- Manage properties or recommend vendors
- Accept referral fees or partnerships

We document. You determine how to use documentation.

Consult qualified legal, financial, and tax professionals for advice on your specific situation.

## Frequently Asked Questions

**Q: Why do lenders need documentation beyond DSCR?**
A: DSCR shows if income covers debt today. The Condition Report documents the operational factors that influence whether DSCR remains stable over the loan term.

**Q: What data do you need?**
A: Minimum: Property address, listing link, available revenue data. Ideal: Property management statements, expense records, guest reviews. We work with what's available and note scope limitations.

**Q: What if the borrower won't provide data?**
A: We conduct limited analysis using public Airbnb/VRBO data and public records. Data availability itself is useful context for underwriting.

**Q: How long does it take?**
A: 72 hours from complete data receipt.

**Q: What if the documentation shows stable condition?**
A: That's valuable evidence confirming operational performance aligns with reported figures.

**Q: Do you provide advice or recommendations?**
A: No. We provide documentation only. We don't advise on loan decisions, recommend vendors, or predict outcomes. Independence is our model.

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## Contact

- Website: https://assethealthscore.com
- Email: hello@assethealthscore.com

## Core Message

"STR Condition Report"

"We transform scattered STR data into a structured, source-verified condition report, delivered in 72 hours."

"We document. You decide."

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*Last updated: January 2025*
*Service: STR Condition Report*
*Provider: STR Condition Report (assethealthscore.com)*