Search
  • Duane Narine

Rental Agreements And How They Will Benefit Your Business Greatly

Updated: Jan 23



Renting out your vacation home also requires contracts to be put in place in the form of Rental Agreements. This agreement should clearly spell out the obligations as a host as well as the obligations of the renter to ensure that both parties understand exactly what the agreement is. This document also acts as protection in case either party fails to hold up their end of the agreement.


What should your Vacation Rental Agreement Contain?


1. Create a title for your contract. The title of your contract should reflect the content of the agreement, and should be centred at the top of the document.

2. Specifying the Parties. Include the full names of your guests and yourself as the host.

3. Describe the property being rented. State the address of the property.

4. State the duration of the lease. Include the date and time in which the guest(s) may enter the premises, and the date and time in which the guest(s) must vacate.

5. State the rental amount, deposit and any other fees that the guest is required to pay and what methods of payments are accepted for the transaction.

6. State your terms of agreement and right and policies of the parties involved. This will require a full analysis of your property and the rules you wish to be followed

-State your cancellation policy

-State the expected condition the property should be left in after departure

-State that the homeowner has the right to enter the premises under certain

conditions

-State how waste shall be handled

-State your pet policy

-State the maximum number of guests allowed to occupy the premises

-State your smoking policy

-State the amenities that are provided, hot tub, pool, gym, linens, soaps, etc

-State your indemnification and “hold harmless” clause

-State your damage and repair policy

-State that the property is used for transient occupancy and no intention for

guests to make the property their residence

-State amenity risks (pool, gym and hot tub usage)

-State legal purposes usage

-State the responsibility of items left behind and efforts that will be used to hold

items for pick up or return items

-State check in and check out times

-Create initial blocks for each page that your guests must fill

-Create a signature block at the end of the agreement that your guests must date

and sign

-Consider a section for notes that your guests can fill in to advise you of anything out of the ordinary they may feel is useful for you.


10 views