There are some things about the vacation rental market, which with the & # 39 are the legal benefits, and you want to know about them before you engage in renting your home as a vacation rental.
- Application / agreement on reservations. If you rented a house, using the usual rent, discard it. Here's why. Rental Cottage provides rental housing, and it can literally take months to evict a person from your home, depending on the eviction process and the location of the property. Instead, use the contract of hospitality, which legally allows for an immediate departure for breach of contract. Make the first page of the booking agreement app to make him feel more a privilege than a sales pitch. It sets the tone for the respect of your business and your property.
- deposits. Think, do not take deposits. If you accept credit cards, type something in the contract that allows you to pay their credit card for any damages beyond normal wear and tear. Deposit with the damage usually is not enough to cover most of the damage; and the costs for the collection and return of deposits exorbitant damages. Buy deposit insurance in an insurance company that allows you to file a claim to the insurance company of the loss (up to $ 1,500). You're not going to vyartanuyu fee of $ 50; which covers the cost of insurance; and get a little extra income to boot!
- Insurance rental vacation. Offer guests a holiday rental insurance, which covers situations where the guest may be required to cancel the rental for the return. Refunds in this business is difficult, because at the time when the rental was booked holidays, you could not take it. Even if you do, work at doubling the same amount of cash flows. Offering rental insurance (7% of the rental price), you get a little extra income. Include a disclaimer that if they do not want to buy insurance, a refund will not work. Thus, if you get a guest who wants to return to the last minute and try to mess due to breach of contract, you can send them to the insurance company to file a claim; or you can remind them that they have refused to buy insurance vacation rental.
- Local taxes on hospitality. Many cities do not yet know for rent holidays and do not consider their taxation. However, some cities require to be licensed or certified; other cities require a tax for the hospitality they receive, when tenancy period is 7 days or less. Take an informed decision as you deal with the tax on hospitality.