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Secrets of Short-Term Rentals Stay: Contract to contract

28 Sept 2023 · 1 min

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0:40

Transcript excerpt from a YouTube video by Mark Simpson describing a short-term rental practice: the speaker uses 30-day contracts (renewed monthly) so stays count as short-term under their state regulation. They explain that stays of 30 days or less fall under short-term rental law, while 31+ days create a long-term tenant subject to eviction rules; renewals depend on property condition and behavior.

Questions this video answers

30 days or less = short-term; 31 days or more = long-term (tenant).

30-day contracts renewed every 30 days (monthly renewals).

Chapters

If someone comes into the area and they tell me they want to stay for, let's just say three months, we actually do a 30 day contract. Because that is the regulation in my state is anything 30 days or less falls into short term rental law. Anything 31 days or more is a long term tenant, meaning I would have to go through the eviction process to get them out of my house. So we do 30 day contracts. So every 30 days they're going to get a new contract to sign. We do say, hey, we're going to do a walkthrough. If you're keeping the property in good shape and your kids not coloring on my walls, then we'll renew with you. But if not, we're going to ask you to leave.