Advice needed - STR to MTR for summer

[Mitzi C.]

Hi all. I have been renting out a vacation home I own and for about a year and have successfully run it as a STR via AirBnB. A group will rent it for the summer (just shy of 3 months) and I need to adapt the rules for their stay.

I'll be adding on housekeeping twice a month (at my cost) and weekly trash pick up.  I've never managed MTRs before and would love any advice on other rule changes that should be adapted and/or any other factor I should consider, particularly through AirBnB. If all goes well, I may consider investing in more MTRs.  Thanks! 

[Benjamin Aaker]

You should check in your state and municipality for some of the rules around this. Many places are considered long term rentals when the term is > 30 days. They may require a lease agreement. It can be more difficult to remove difficult tenants. You may want to have an attorney draw up a lease and put regular inspections in it. It'll be more work on the front and back end but can be a great way to make money.