MN HF3972

Creates the "Rental Home Marketplace Guarantees Act" (Minnesota Statutes chapter 59E) to regulate damage protection guarantees offered by short-term rental platforms like Airbnb and VRBO

Requires providers offering rental home marketplace guarantees to register annually with the Commissioner of Commerce and pay a $750 fee

Mandates that all rental home marketplace guarantees be backed by a reimbursement insurance policy from an insurer authorized in Minnesota, protecting property owners if the platform fails to pay claims

Platform users may file claims directly against the backing insurance company if the provider fails to perform within 90 days after proof of loss is filed

Guarantees must include clear disclosures stating they are not insurance contracts, and providers handling damage claims must be trained in property damage and loss assessment