Vacation and long term rental
For all those experienced long term rental landlords... where do you print your rental contracts for vacation and long term rentals?? We are about to list our first rental and would appreciate advice on contracts! Thanks!
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@Kayla Utley
Yes this is the first time we've gone LTR. We currently have a guest on a 2nd 31 day reservation that we booked prior to all the restrictions being uplifted. As far as preference, I think it really depends on a few factors. We make more money as an STR, though it's more turnover and more follow up and communication. I think where the LTR strategy for us can be useful is during those slow seasons/months where we are lowering rates to attract bookings when instead we can have someone there mid term (month to month). With LTR, there is less money to be made but less follow up and turnover but make sure the numbers can still work where you can make decent cash flow. Also no TOT taxes or cleaning fees which is good too. From my limited experience with LTR so far, strangely I find that STR's are cleaned better and maintained more often. When we had our guest check out from a 2 month stay, we had to do a deep clean, as the bathrooms, kitchen, stoves, refrigerator, patios etc hadn't been cleaned as we normally have it. It wasn't horrendous but definitely not to our standards or the same way we like to keep our homes when we STR. That was my only negative take away. In the future, I plan to do a hybrid strategy of STR and month to month LTR during slow season. If it's longer, we may incorporate a cleaning "during stay" to make sure the home is cleaned and maintained properly.