Should I Purchase a Vacation Rental

By Trent Powell

When I first purchased my vacation rental property in 2006 I knew I desired to acquire getting some sort of rental agreement. It's unfortunate but in this era we can't make agreements dependant on hand shakes or someones word. We might need some kind of legal document to specify requirements and identify all necessary facts. Don't get overwhelmed by thinking about making your individual rental agreement for your vacation rental. There is a few basic information you need to include. I have owned my rental agreement for almost 6 years and it appears to work pretty well. Below I will share some basic categories I've included in hopes to get you started making your very own. If you desire a firm agreement without any loopholes be sure to have any document triple checked through your attorney. I hope this helps. If you value this post please share your feedback in addition to referring my site to your relatives and buddies.

1. Date - date the agreement

2. Rental Dates - provide the agreed upon 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, your local taxes and also deposit. It will help to avoid other questions of how we came to our total

5. Payment type - I provide my renters with two options, mail a cashiers check or pay by bank card

6. Signing Instructions - I need the document to get signed and returned. Also, i have an address where it must be returned

7. Rental Rules - these can vary based upon your property, family rules and desires. Here's a few 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 instead of along the street *Smoking or Non-smoking property *Pets are or aren't permitted *Damage / Reservation deposit - This explains a bit about refunding the deposit depending on how they left my property *Payment - I require 50% of your total payment due at time of the reservation plus the remaining 50% within at least Four weeks before occupying my property *Cancellation - I will refund my renters money if he or she will need to 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 without warning *Falsified reservation - Any falsified reservation could possibly be subject to loss of advanced payment additionally, the party aren't going to be allowed to check-in *Written exceptions - In case the renter wants any exception it ought to be written by myself prior to occupying the property *Parking - Just what are your parking policies *Storm / Road Policy - My property is in the mountains I am certain to let my renter know they are driving to my property at their very own risk and their aren't refunds a result of a storm *Privately Owned - This might be a vey important one, I let the renter know I am not to blame for any accidents, injuries or sickness that comes about while you're on the home *Contact information - I require full details together with a bank card from the renter *Signature - Don't forget to have your renter sign and return the rental agreement before occupying the property

About the Author:

I am a Father of 4 children and married to a beautiful woman. We own a vacation rental property in the mountains and market it on one of the popular vacation rental websites. However, we don't like the direction of this website and are taking it upon ourself to obtain as much vacation rental property owner feedback to make the ultimate website. Please let us hear from you today!