A short-term rental lease agreement is a legally binding contract that defines the terms and conditions overseeing the relationship between the landlord and the tenant for a period not exceeding one year. The basic contents of a short-term lease agreement are financial and payment modes, duration of the contract, accessibility rights, and termination of the agreement.
The key reason why you should enter into an agreement before leasing is the unpredictability of human behaviour. Verbal arrangements may be difficult to enforce in law. The absence of a short-term rental lease agreement can make the arbitration very untenable in the case of disagreements. Furthermore, a short-term rental lease agreement spells out all the multifaced issues relating to the occupation of the premise.
When to use a short-term rental lease agreement
When you are planning to host vacationers rather than business events or ordinary tenants, it is crucial to draft and enter into this agreement. This way, you will be able to draw a clear distinction between the various events and make suitable arrangements to handle them appropriately.
Too short occupancy periods
Likewise, if you happen to have people looking to rent your premises for a brief period, it is necessary yet again to draft the short-term rental lease agreement. This way, you’ll be able to handle this agreement uniquely and avoid any undesirable confusion that may arise.
What to include
- The names of both parties involved, i.e., the lessor and lessee
- The number of occupants
- The duration of the lease
- Rent amount to be paid and when the remittances are to be paid
- The physical address of the rental property
- Cancellation policy
- The condition of the building and the amenities and other facilities
- Consequences for the breach of the agreement
For a lease agreement to be legally binding as well as credible, there are basic elements that it must include. First, the agreement must define the lessor and the lessee by name and include their identification details. It should also highlight the financial relationships and other related issues such as tax payment method and time of payment. The lease should also specify the space to be rented. It should also specify that there is acceptance on the side of the lessor and the lessee to continue with the contract. All amenities, complimentary and additional accessories such as water, electricity, parking spaces, and latrine should also be exemplified. Lastly, the contract must have a declaration clause.
How to write a short-term lease agreement
To aid you in drafting a great short-term lease agreement, we recommend that you use a template as a guide. A template is a document containing a step-by-step guide to help you from start to finish regarding the steps involved in actualizing the lease agreement.
It is recommended to use a template since the requirements are usually too long and confusing. Furthermore, the actual forms do vary from state to state. You can download and use the templates as a guide to help you draft your lease agreement like a pro.
Short-Term Rental Lease Agreement: Template
This short-term rental lease agreement herein referred to as the “Agreement” is made by and between _______________. Both parties herein agree to the following terms and conditions of this Agreement. The security deposit paid shall constitute acceptance of this agreement.
Property: The property to be leased is located at _______________ (location) office phone number is: _______________ (number)
Maximum Occupancy: The maximum number of tenants is limited to _______________ persons for _______________bedrooms and_______________persons for a _______________ bedroom.
The rental shall begin at ________________and end at _______________
Rental Rules: All the guests agree to follow all the rental rules at all times while at the premises and shall cause all members or their visitors to abide by the rental rules at all times while at the premises.
The management shall not be deemed responsible for any damages, illnesses, or injuries that occur while on the property or its facilities. Consequently, the management shall not be liable for any loss of personal belongings or any valuables to the guest.
Access: All the guests shall allow the management access to the property for purposes of _______________. The management shall exercise this right of access in a reasonable manner.
Rental Rate and Fees: the guest shall pay a deposit of _______________ at the time of reservation and will be applied towards any due rental balance.
Cancellation Policy: Should the guest wish to cancel his/hers/their reservation, the deposit less administrative fee of ________________shall be refunded if canceled _______________ days before the check-in date. Cancellations of less than _days will forfeit the deposit paid.
Refunds: there shall be no refunds or partial refunds due to weather conditions unless otherwise.
Departure: The guest shall leave the property in a clean and decent condition.
Free Templates & Forms
Why you should use a short-term Rental Lease Agreement
The agreement covers all parties involved in it. The tenant’s rights, such as protection from arbitrary eviction and value of the lease, foreclosure of existing conditions, and protection from unpredictable lease value inflation, are encompassed in the agreement. Often, there are problems of this nature in many business and residential premises, where the landlord chose to be dishonest. Furthermore, the tenant is also protected from any conflicts that may arise with regards to amenities and accessories use. The landlord is shielded from guileful tenants who refuse to or par irregularly, which can spell doom between the landlord and the tenant and any other financial partners. Some tenants may also cause costly damages to the premise, and in case the responsibility of taking care of such expenses is not enshrined in the agreement, it may be a major blow to the landlord and may fuel conflict between them. This calls for a professionally designed short-term lease agreement. Many landlords usually avoid the written agreement simply because they believe that they need to have an attorney draft it for them. The easiest and the simplest way is to use short-term rental lease agreement templates that are available here.