New To This: Medium Term Rental Contract for a Business

Columbia, MO · Member since 2016 · 14 posts · 13 votes

Hi,

I have a business that reached out to rent our airbnb out for two months for one of their clients who need a place to stay while their house is being repaired. They agreed to our rates, which is fantastic!

But I am a bit new to this, they asked for a rental agreement and so far I have only done this with individual long-term rentals. Could definitely use some guidance, we are renting it out in the state of Missouri.

Thanks!
James

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Tanner PileBusiness Member

Real Estate Broker · Colorado Springs, CO · Member since 2019 · 388 posts · 326 votes

@James Carr The BP leases will work well for what you need to do. A mid term is not much different than the long term lease. Make sure you mention about maintenance of the yard and trash specific things that could be missed in a short term rental lease.

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Nicole Heasley Beitenman
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
3y
Disclaimer: I am not an attorney.
I've never done this kind of agreement so if you get advice from a more experienced investor, definitely take theirs over mine. But here's how I'd imagine I'd handle it:
They'd still sign the same LTR lease that a regular LTR tenant would because regardless of who's renting the place, them or their tenant, they have to adhere to the same rules. I'd perhaps replace all instances of "Tenant" with "Tenant and their Subleasee," assuming that's the proper terminology.
Next, I'd include a clause stating that whether they have a subleasee or not, they're still responsible for the full rent and all other clauses of the lease.
Finally, I'd consult an attorney because I'm sure there's stuff you need to add that neither of us would know about having never done this before. Please keep us posted because I'm very interested to see how this works out for you!
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Jamie Banks
Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 521 votes
3y
Hi James, I have two MTRs and I use the free leases that come with the BP Pro membership and modify them to include the month(s) my guest will be staying for or select the month to month option. You can use the amendments that are included too if you want to outline a utility limit.
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Tanner PileBusiness Member
Real Estate Broker · Colorado Springs, CO · Member since 2019 · 388 posts · 326 votes
3y
@James Carr The BP leases will work well for what you need to do. A mid term is not much different than the long term lease. Make sure you mention about maintenance of the yard and trash specific things that could be missed in a short term rental lease.

Tanner Pile4.931 Reviews
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Francisco Milan
Gilbert, AZ · Member since 2020 · 94 posts · 26 votes
3y
Quote from @James Carr:

Hi,
I have a business that reached out to rent our airbnb out for two months for one of their clients who need a place to stay while their house is being repaired. They agreed to our rates, which is fantastic!

But I am a bit new to this, they asked for a rental agreement and so far I have only done this with individual long-term rentals. Could definitely use some guidance, we are renting it out in the state of Missouri.
Thanks!
James

Hey James,
I always do the following, make sure the agent that contacted you is an agent that works at an actual insurance company. Id call the guy managing him, second I would sign up to https://www.mysmartmove.com and create and account this will give you option to send your tenants a link to run their credit to see what type of individuals will be staying at your house (Make sure to send a link to everyone individually) third id ask for deposit, set expecations and good luck you should be fine my smartmove will tell you what type of tenants they are.
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