What to include in a short-term rental agreement
Rental parties
In the rental agreement, make sure to list all confirmed guests that will be staying on your property. This should include the full names, phone numbers, and current addresses of each guest.
Additionally, include the dates that the guests will be staying as well as when the rental agreement will begin (and end).
Property details
It’s essential to include all amenities, utilities, and furnishings that may be included in the agreement. Amenities can include laundry services, a kitchen, fitness facilities, parking, swimming pools, and common areas.
Utilities such as water, sewage, electricity, and gas can also be part of the agreement. Furnishings such as beds, chairs, tables, couches, and other items should be specified as well. Furthermore, the property owner may also include electronics such as televisions, stereos, and other items in the short-term lease agreement. Therefore, all of these points should be discussed and agreed upon before signing the contract.
Lease term
How long you want guests to stay is up to you, but the standard term for a short rental lease is under six months. When it comes to vacation rentals, short-term leases are usually less than two weeks and can be as short as one night.
Make this clear by including check-in and -out times in your lease agreement. Check-in and check-out times are the windows of time your guests are allowed to settle into their rooms or leave the property. Make sure you include this in your rental agreement so that your guests know when they need to arrive and when to leave.
Maximum occupancy
If you want to protect your property from potential damage, you should include a capacity, or maximum occupancy limit, in your rental agreement. This way, if something happens, you, as the owner, are held responsible.
Furthermore, you can use the occupancy limit to your advantage by charging extra for additional guests or making any other charges depending on the number of people staying on your property.
Rules and restrictions
Short-term rental agreements typically include regulations and restrictions that define the rights and duties of both the landlord and the tenant. These regulations are in place to safeguard the rights of both parties and ensure a safe and comfortable living space.
Common restrictions may include:
- Limits on noise levels.
- Stipulations on proper maintenance of the property.
- Requirement to keep the property in good condition.
- No smoking on the property.
- No pets.
- Pet size requirement.
- Quiet hours in the morning and/or evening.
- Designated parking, or requiring all tenants to get a parking permit.
Payment and fees
Payment and fees include all fees related to the lease. This includes the rental fee, any applicable taxes, pet fees (if applicable), utilities, and any other fees that may apply. You also need to confirm the acceptable payment methods as well.
Cleaning fees will be due at the end of the lease unless otherwise agreed upon in the lease agreement. Pet fees (or security deposit) are often paid in full and before the start of the lease, if applicable.
Cancellation policy
The Short-Term Rental Agreement Cancellation Policy outlines the process for canceling a rental agreement without penalty or financial loss. It also identifies the remedies for any financial losses that may result from a cancellation.
This policy provides both tenants and landlords with reasonable protection when canceling a short-term rental agreement and applies to all short-term rental agreements, regardless of duration.
Limitation of liability
This provision typically states that the landlord will not be held liable for any damages that aren’t caused by their own negligence, and that the tenant will be liable for any damages that are caused by their own negligence.
The provision will also often state that the landlord is not responsible for any consequential or punitive damages that may arise out of the agreement. This provision allows the landlord to protect their interests while still providing the tenant with an adequate level of protection in the event of any damages.
Have a lawyer read your clause to ensure it has been carefully written. For a limitation and liability clause, you need to have the following:
- Statutory limits that can be made against the host.
- The losses that each party needs to compensate with or without limits.
- The losses that both parties are not liable for or can exclude.
Violation of agreement
Violation of agreement occurs when a tenant violates the terms of the rental agreement. This can include failure to pay rent, damage to the property, unauthorized subletting, or failure to follow the rules and regulations set by the landlord.
In some cases, the tenant may be evicted due to the violation. Landlords are also entitled to take legal action against the tenant if the violation is severe enough. It is crucial to make sure that both parties understand the terms of the rental agreement to avoid any potential disputes or violations.
Signatures
A signature is a must when it comes to any rental agreement. This signature serves as a legally binding document that safeguards the rights and interests of both parties. It is of utmost importance to make sure that all parties comprehend the terms and conditions of the agreement and are in full agreement with them.
A signature also shows that both parties are held accountable for upholding the terms of the agreement. Both parties must read the agreement before signing it to ensure the terms are understood and agreed upon. A signature on a rental agreement is a key step in ensuring a secure and successful one.
