How do I handle CHBO or Mid term rentals?

[Kahntineta Ford]

Hi there!

So I'm new to the STR world and recently listed a property on Airbnb. It's been doing great but I've recently decided to also list on CHBO and Furnished Finders. I've had a few inquiries wanting to stay for 3 months at a time. My question is, with the longer term rentals now being handled by me, what steps should I take to protect myself? Ie -

Should I charge for everything upfront or charge monthly?

Should I have a lease written up as an agreement?

Any other gotchas I should know about before taking this path?

KFord

[Gi'angelo Bautista]

We are in the Bay Area. We write up leases on a state contract. For San Francisco, we have the guest fill out a local SF contract and disclosures.  We have very strict tenant laws. We make sure that the price is a lot higher than long term rental rates because the likely hood for the tenant to stay long term would be very low.