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I am starting a property management company (for vacation rentals) and I’m trying to find sample agreement forms for the renters and contracts for the property owner. Haven’t had much luck finding anything online. Any suggestions?

Also, any little bit of advice, sugesstions, etc for the business would be greatly appreciated.

Thanks. Have a good weekend

http://ownercommunity.homeaway.com/tip/Resources/Public_Pages/Tips/Home_Owner_Tips/Policies__Procedures/Sample_Rental_Contract_

Is anyone aware of unbiased publications out there that can help someone like me find:
1 – The best vacation area to begin my search
2 – Quantify the type of rental income I could expect
3 – Quantify the type of appreciation I could expect (or provide historical appreaciation rates)

As you might have guessed, I’m just beginning my search for the perfect vacation rental property.

If you are interested in ethical and environmentally sound adventures, then Barefoot Investments has projects in Latin America and Asia.

Basically, you buy-in at one of three stages : as a seed investor (where you get properties and a profit-share), as a pre-construction buyer (discounted properties pre-build) or a retail buyer (when everything is in place). Capital required is $50-100k for seed investor, $30-50k for pre-construction/retail (with financing option). Seed investors usually get property, plus capital returned within 4 years, plus rental yield of 10%. If it’s property only, rental yield is about 10%, plus of course access to the property and membership to the resorts.Appreciation tends to be quite high since they choose emerging locations like Belize where quality property has improved over 100% in the past few years.

All projects are chic resort communities in areas of outstanding natural beauty (e.g. private island in Asia, jungle reserve in Belize) with the usual attractions, facilities (Spa etc); expect solar & hydro power, ethical management, recycling etc. After development and return of seed profits, the communities are run as a sort of co-op with profits going into improvements and wider community initiatives, thereby sustaining the community aspect and guaranteeing a more authentic resort experience. It’s impressive.

Matto

http://www.barefootinvestments.com

I have seen this a lot! You go onto VRBO.com and you look for a great place to vacation for the week. Everything looks perfect EXCEPT the second and third bedrooms do not have televisions. Ughhh! Why? They are not that expensive. Just because one is on vacation doesn’t mean that we never watch television, right?

Thanks! Just venting somewhat.

Occasionally there are very clear responses to questions like this however perhaps not this time.

How do you deal with the legality of it, deposits, etc? I live in Southern Cailfornia and would be renting my house at daily and weekly rates.

You advertise, require a signed lease, payment in full upfront and a cleaning deposit. You report the income on your taxes.

I’m going to be in Manhattan for about a week and would like to rent a short-term apartment instead of a hotel. Any suggestions of a good place to look?

Craigslist.

State : Texas

I’m looking into renting an apartment or condo in a prime area, the problem is I will not be there often and would love to rent it out as a vacation rental ( VRBO .com) or as corporate short-term housing while I am not using it. Is this possible if I am not the owner?

Any advice on what to look for in a contract? Also insurance coverage?

I understand sub-leasing is generally acceptable, but what about short-term vacation rentals?

Thank you!

Sub-leasing is generally prohibited; it’s not acceptable very often. Check your rental/lease agreement.

If your renters trash the place, YOU are responsible for damages as the primary lessee. I don’t think you can even find renters insurance that covers sub-leasing.

Good luck.

We rented a little condo for a week and it required a 500$ security deposit. the manager said she mailed it and we haven’;t received it. tried to contact her again ,no answer. Almost has been a month since time of rental. What is the next recourse?

TIA

It is completely dependent on what state you are in. In a lot of states, a deposit must be returned within 30 days of move-out. For this to work out in court, you must also have given your next address to which the deposit should be mailed (usually the law on this is 7 days after move-out). If you gave notice of your next address and it is past 30 days, you can sue for up to double the deposit (keep in mind these are laws I know in Michigan).

The only slight problem I might see is that you rented a place for a week. I don’t know if laws apply to anything this short-term. Also, did you sign a lease? If you did not sign a lease, this may harm you in court. However, some states let you have a oral/verbal agreement for rental. If they accepted your payment, this is a loose agreement of rent.

If you want your money back and still have not had any luck contacting the manager, then file a small claims case (use free legal advice in your county is a good idea). Make sure you have all documentation of the money exchanged, phone calls made and the condition of the condo when you moved in/out. If you sue, you have the burden of proof as the plaintiff and need to prove why they owe you money. So everything you can think of related to why you should get your $500 back is relevant in the case. Good luck and don’t forget to use free legal advice, it helped me to win my case

Preferably in South Florida. Where you walk out your cottage, hotel, directly onto the beach.

Hi there! Your best bet is Owner Direct Vacation Rentals. I’ve been using them for years, and have always found just the right place for my stay. Here’s their page with Southeast Florida vacation rentals: http://www.ownerdirect.com/lodging/usa/florida/southeastflorida.htm and here’s their page with Southwest Florida vacation rentals: http://www.ownerdirect.com/lodging/usa/florida/southwestflorida.htm.

As you can see, there’s lots to choose from. They’re really easy to deal with, you can browse through the vacation homes, and find just the right one, then they’ll put you right in touch with the owner, and you go from there. It’s really easy, and the cost is usually the same or less than a hotel, so I’d say that’s the way to go.

Hope you find what you’re looking for! Have a great trip.

Small LLC needs to track rental property income, appreciation, taxes etc.

Try QuickBooks, it’s very user friendly and covers most business.

I’m looking into buying a second home or a place where both of us can go and relax for the weekend, week or even a month. It needs to be at walking distance from the beach. But, I don’t believe in Time Shares (bad experience for some friends). While doing my research, I guess there is a difference between a second home and a vacation rental?
The vacation rental that I see in the papers and different location like in the states and the Caribbean has values that range from 100k to plus. I don’t think they are talking about a place to rent just for a few days with prices like that.

A second home is a place that you have purchased. You own it. A vacation rental is a place that you have rented for an alloted amount of time. It isn’t a time share because you have bought a specific couple of weeks in a year that you have from year to year. You are only renting it for a one time vacation.