Sample Short Term Rental Agreement

Sample Short Term Rental Agreement: A Guide for Property Owners

If you own a property that you wish to rent out for short periods, it is essential to have a short term rental agreement that outlines the terms of the lease. A well-drafted rental agreement is necessary to protect your interests and ensure that both you and the tenant are aware of what is expected.

In this article, we will discuss the essential components of a sample short term rental agreement.

1. Parties Involved: The agreement should outline the names of the landlord and tenant and their permanent addresses.

2. Property Details: The rental agreement should clearly specify the rental property`s address, including the unit number and any other relevant details.

3. Rental Term: Your rental agreement should specify the exact dates of the rental term. This will help to avoid any confusion regarding the lease`s expiration, renewal, or extension.

4. Rent Payment Details: Your rental agreement should specify the rental amount and when it is due. It should also outline any penalties for late payment or returned checks.

5. Security Deposit: The agreement should state the amount of the security deposit and the conditions under which it will be refunded.

6. Rental Restrictions: The rental agreement should outline any restrictions on the use of the rental property. For example, it could state that the tenant cannot sublet the property without the landlord`s express permission.

7. Maintenance and Repairs: The agreement should specify the tenant`s responsibilities for maintaining the rental property`s cleanliness and any damages caused by the tenant.

8. Termination Clause: Your rental agreement should outline the conditions under which either party can terminate the lease before the end of the rental term.

9. Insurance Requirements: The rental agreement should clearly specify the type of insurance required for the rental property and outline the tenant`s responsibilities for obtaining the necessary insurance.

10. Additional Terms: The rental agreement can include any additional terms that the landlord and tenant wish to include. For example, it could specify that smoking is prohibited on the premises.

Once the short term rental agreement is drafted, both the landlord and tenant should sign it and retain a copy for their records. The rental agreement should be reviewed periodically to ensure it remains up-to-date with any changes to rental laws or regulations.

In conclusion, a sample short term rental agreement is essential for property owners who want to rent out their property for short periods. A well-drafted rental agreement can protect both the landlord and tenant`s interests and ensure that both parties understand their rights and responsibilities during the rental term.