A Vacation Rental Short-Term Lease Agreement is a written document that officially recognizes a legally binding relationship between two parties, an owner, or the person renting out the property, and a guest, or the person renting the property for a short period of time.
What to Include
- Owner: who owns and is renting out the property
- Guest: who will be staying in and renting the property
- Property: what is the property, and where is it located
- Rent: how much is the guest paying the owner, and what are the payment terms
- Term: how long will the guest be staying on the property
- Rental Party: who else will be staying in the property with the guest
When to Use a Short-Term Lease Agreement
With the rise of Airbnb, VRBO, Vacasa, and Home Away, short-term vacation rentals have grown rapidly and are a popular alternative to hotels and traditional bed-and-breakfasts. However, having total strangers in your home comes with many risks, and it’s important to document the terms of the stay and the expectations of each party.
A Vacation Rental Contract allows owners and their guests to put into writing the detailed agreements between them, and any consequences if those agreements are broken. It also allows an owner to set the rules of the guest’s stay and allows the guest to know what to expect when he or she arrives.
Here are a few examples of what an owner or guest may include:
Guests may or may not:
- Smoke
- Bring a pet dog or pig
- Use the hot tub
- Park in the driveway
- Check-in too early
- Play loud music at three in the morning
- Throw a rager
- Invite their whole football team to stay
The owner will provide:
- A bed, or two, or three
- Linens, blankets and pillows
- Kitchen utensils to make a pancake breakfast or dinner
- Television with cable or Netflix and Hulu
- Wireless internet
- Parking spots
- Basic toiletries
A checklist of what is included in the rental is a helpful tool at check-in and check-out.
Who needs a Vacation Rental / Short Term Lease Agreement?
Any person looking to rent out their home for the weekend or the summer or any person looking to rent a home for the weekend or the summer should consider a Vacation Lease Agreement.
Here are some possible owners and guests:
| OWNER | GUEST |
|---|---|
| Owner of a home or condo who is: | Person who needs a place to stay because he/she is: |
Consequences of Not Using a Short-Term Lease Agreement
A Short Term Rental Agreement can help you avoid becoming an aggrieved owner or guest. The agreement allows you anticipate issues and resolve them before they become problems. And it can protect both owners and guests from unexpected behaviors or circumstances.
Here is a chart of some of the suffering a Short Term Rental Agreement could prevent:
| OWNER | GUEST |
|---|---|
| Lost rent money | Lost money paid for rent |
| Guest won’t leave | Kicked out of property early |
| Damaged property | Large bill for repairs or replacement |
| Too many guests | Lack of amenities |
| Expensive lawyer fees | Expensive lawyer fees |
| Risk of illegal activities | Fear of owner |
| Fear of injury to guests | Personal safety and wellbeing |
