Do You Need a Short-Term Rental Agreement?
Are you thinking of renting your property or feeling like you need a change of scenery? In either case, you can opt for a short-term rental agreement. It offers great flexibility for both landlords and tenants.
DoNotPay can help you draft various contracts by providing expert, quick, and affordable service to meet your personal and business needs.
What Is a Short-Term Rental?
Short-term rentals refer to apartments or houses available for rent for a short period. These properties are usually furnished and often used instead of hotels for vacation.
You might opt for this type of accommodation when staying somewhere for up to a month since it is more affordable than renting a hotel room. Apart from the financial aspect, most short-term rentals will let you bring your pet, unlike most hotels.
Types of Rental Agreements
When you decide to rent a place, you should sign a rental agreement with your landlord. The landlord will offer the agreement (s)he uses, but you should not sign it before checking the terms and conditions.
Here are some types of rental agreements you may come across:
|This agreement does not have a specific time limit as the tenancy continues until a party sends a written notice to terminate the tenancy. In most cases, this notice is sent at least 20 days before the next rent is due|
|This is the same as a month-to-month rental agreement with an additional clause requesting a termination fee or a waived deposit if you move out before the agreed time|
|This type of rental agreement or lease is signed for an agreed period of time. Most are one-year rental agreements|
In some states, like Washington, verbal rental agreements are legally binding month-to-month tenancy contracts. When you need to provide a deposit, make sure you sign a rental agreement that includes the terms and conditions for getting your money back.
Some U.S. cities, like Seattle, regard one-way leases as illegal, so make sure to check your city or state laws and regulations before you sign anything.
Once you sign a rental agreement, you need to meet the agreed conditions. Otherwise, you will face penalties.
When To Choose a Short-Term Lease Agreement
A short-term rental could be your optimal choice when traveling. You can rent a place for a few days or a couple of months. The options are numerous—furnished condos, apartments, or houses that make you feel as comfortable as possible during your stay. Apart from coziness, the price is an added advantage compared to hotels or even hostels that tend to be crowded. Short-term rental agreements will specify the terms and conditions and protect you from unreliable landlords.
If you own the rental property, this type of arrangement might be the most lucrative one for you.
Here are some items to keep in mind when it comes to renting short term:
- Short stays—three to seven days, in most cases
- Higher rent fees—$180 a night on average (depending on the city, location in the city, and season)
- High turnover and flexibility
- Strict short-term lease laws in some states and cities
- Applicable tax
If you are still mulling over the rental period of your property, take a look at the average nightly rent when you opt for a short-term rental agreement:
- San Francisco—$217
- New York—$215
- Washington, DC—$190
- Los Angeles—$136
For more precise data and calculations, you can visit Inside Airbnb.
What Should a Short-Term Rental Agreement Include?
Regardless of whether you are a tenant or a landlord, you might be interested in what a typical short-term rental contract includes. Take a look:
- Tenant information—Name and contact information
- Landlord information—Personal and contact details
- The address of the rental property
- Rental period—Start and end dates and times
- Payment terms—Reservation fee, rental amount, and payment methods (by check, card, or in cash)
- Security deposit—Amount and refunding terms
- Occupancy—Number of occupants/tenants
- Furniture and utilities—Lists of furniture and appliances and repair or replacement terms
- Subletting—Specifications about whether it’s allowed and under what terms
- Maintenance and order—Standards relating to cleanliness, property condition, pets, smoking, disturbing the neighborhood
- Indemnification—Defining liabilities (such as property loss, accidents, injuries, or death) and the consequences
- Amendments—Terms of the agreement modification, e.g., only with the written consent of both the landlord and tenant
- Governing law—State laws that govern the agreement
- Signatures of both parties
Use DoNotPay as Your Contract Creator
DoNotPay can be your reliable assistant in lots of ways. One of them is to help you create legal documents for different purposes.
|Business Needs||Personal or Family Requirements|
You can get all the above-listed contracts and more in our extensive database. To start generating personalized legal documents, do the following:
- Access DoNotPay from your web browser
- Provide the document name
- Give the necessary details to the chatbot—names, addresses, and other relevant information
DoNotPay will provide a contract based on provided information and your needs. You focus on your projects and life goals, and we will make sure they are supported with adequate documentation.
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