A vacation rental agreement is a document which provides the terms and conditions which will govern the renting of a particular property for a certain period of time for purposes of leasing it to vacationing tourists. It is in vogue in areas famed for tourism where there is a large influx of tourists on the lookout for space to live at reasonable costs. A vacation rental agreement is very similar to any other lease rentals, and it includes details about rent, usage, duration of use and so on. However, given its nature, there are also some particulars which are specific to vacation rental agreements. Hence, some of the important considerations which must be kept in mind while framing vacation rental agreements are as follows:
- vacation rental agreement is a legal document and must be framed keeping in mind the rules set down by the US constitution. In most states of the United States, a vacation rental agreement is signed for the entire duration of maximum tourist influx, otherwise known as the “peak season”, which varies from one place of tourism to another.
- A vacation rental agreement must also be clearly written as it is a legal document. It must include all necessary information like the points mentioned above. In addition to those details, information specific to vacation rentals include time of leasing, usage of amenities like swimming pools, beach furniture and so on. Often, the owner of the property in a vacation area may provide other value added services. These too must be clearly referred to.
- A vacation rental agreement must be written by professionals who are well versed in the technical language of such documents. They must be signed by the respective parties in order to make it legally effective and binding. The terms and conditions of the vacation rental agreement, and the penalties to be imposed on the offender in case of a breach of contract must be clearly highlighted.
- A vacation rental agreement must also be clear about the financial end of the agreement. The amount of rent to be paid, the services covered within the monthly rent, the amount of security deposit to be paid and its nature [refundable or non refundable] must be provided in order to create a document of value to all concerned in the vacation rental agreement.
Thus, a vacation rental agreement is a document which has many functions but which has to be composed in the correct manner specified by the legal authorities of the United States in order to be deemed truly effective.