When I first purchased my vacation rental property in 2006 I knew I desired to obtain at least one rental agreement. It’s unfortunate however in this point in time we can’t make agreements based on hand shakes or someones word. We need some style of legal document to specify requirements and identify all necessary facts. Don’t get overwhelmed by the idea of making your very own rental agreement for your vacation rental. There is a few basic information it is wise to include. I have owned my rental agreement for almost 6 years and it appears to be to function pretty well. Below I will share some fundamental categories I have included in hopes to get you started making your very own. If you desire a unshakable agreement without having any loopholes do not forget to have any document triple checked through your attorney. I hope this helps. If you like this post please share your feedback in addition to referring my website to your friends.
1. Date - date the agreement
2. Rental Dates - provide the arranged dates
3. Check-in / Check-out - let your renter be aware of the appropriate time to enter and vacate your vacation rental
4. Total bill - I break up their bill into nightly rate, cleaning fee, any local taxes as well as the deposit. It will help avoid other questions of how we arrived at our total
5. Payment type - I provide my renters with two options, mail a cashiers check or pay by charge card
6. Signing Instructions - I need the document to be signed and returned. In addition, i offer an address where it must be returned
7. Rental Rules - these will vary determined by your property, family rules and wishes. Here are some I currently use
*Check-in and Check-out - I repeat this *HOA Rules - My HOA rules for example require all cars to be parked in the driveway rather than on the street *Smoking or Non-smoking property *Pets are or aren’t permitted *Damage / Reservation deposit - This explains a little bit about refunding the deposit depending on how they left my property *Payment - I require 50% of the total payment due at time of the reservation and the remaining 50% within at the least 30 days before occupying my property *Cancellation - I can refund my renters money if he or she must cancel once they notify me within 30 days *Maximum Occupancy - I allow 8 occupants before charging additional rent *Maid Service - The renter is notified there isn’t daily maid service however their cleaning fee will apply at the end of their stay *Rate changes - Rates are subject to change with no warning *Falsified reservation - Any falsified reservation may be be subject to loss of advanced payment additionally, the party isn’t going to be permitted check-in *Written exceptions - If the renter desire any exception it should be in writing by myself before occupying the home *Parking - What exactly are your parking policies *Storm / Road Policy - My property is in the mountains I am sure to let my renter know they are driving to my property at their own personal risk and their are not any refunds caused by a storm *Privately Owned - This is probably a very important one, I let the renter know I am not to blame for any accidents, injuries or sickness that comes about while on the property *Contact information - I require full contact info including a charge card from the renter *Signature - Don’t forget to have your renter sign and return the rental agreement before occupying the property