Skip Nav
HGTV
You'll LOL When You Hear What the Property Brothers Found Inside the Walls of a Reno
Barack Obama
The Obamas Are Trading the White House For This $5.3M Mansion
Holiday
5 Holiday Decor Trends Taking Over Pinterest

10 Tips For Short-Term Rental and Sublet Agreements

Did you know that Washington DC residents are renting out their homes for the Jan. 20 presidential inauguration? Residents can stand to earn a pretty penny: the pictured home is renting for $550 a day! The practice is becoming so popular that there's even a website dedicated to the cause. Whether you're a DC resident looking to rent out your house for inauguration weekend, or a homeowner or renter who'd like to do a short-term sublet for an upcoming vacation, it's better to be safe than sorry when offering your home to a stranger. Douglas Culkin, president of the National Apartment Association, notes that, "By taking some basic precautions, people can leave their homes feeling like they have done their due diligence to ensure a smooth renting experience.”

To see tips from the National Apartment Association,

.

  1. Draw up a basic, legally binding agreement to secure payment that includes a damaged property clause. Get 50 percent deposit in advance.
  2. Give strong consideration to doing a background check of the resident. It costs about $30 to $40 and can be done in minutes. Search for “resident screening” to find a vendor. Incorporate the cost of the screening into what you are charging for “rent.”
  3. Make sure you're protected with insurance — if someone injures themselves in your home you may be liable. Check your policy.
  4. If you currently rent your home and are thinking of sub-letting it for the week, check with your landlord to make sure you are legally allowed to do so before you post your advertisement.
  5. Make a duplicate set of keys. Send them via an insured carrier service but do not include your home address anywhere in the package, in case it gets lost or stolen before reaching its intended recipient.
  6. Change the locks after they leave. Incorporate this cost into what you charge for rent.
  7. What about pets? If your lease agreement allows them, you'll have to decide if you want to let a renter bring their pet for the week, but be clear if no pets are allowed so there are no surprises upon your return.
  8. As a courtesy, alert your neighbors, who will see strangers entering and exiting your home during their stay, so they don't call the police.
  9. You'll exchange emergency numbers with your renters, but in case you are not immediately reachable, leave a second local emergency contact number, especially if you plan to leave the area.
  10. Clean out the fridge, make some closet space, etc. Schedule to have a cleaning company come before the renters arrive and after they leave. No one wants to see the other's leftovers.

Source

Around The Web
Join The Conversation
kscincotta kscincotta 7 years
One of my husband's friends was offered $10,000 for his place for the weekend. So clearly, someone is interested.
BOBCAT BOBCAT 7 years
WHAT????? SILLY!!!!
girlgreen girlgreen 7 years
i know about this...i am actually moving to the area and have been looking at craigslist, but there are literally about ten inauguration listings for every normal one! i decided not to resume my search until after the inauguration. so annoying! thanks for the article link jmartinisu...i was wondering how all these people could be finding renters with such a flooded market, but obviously they are not!
jmartinisu jmartinisu 7 years
I live in the DC metro area, and yeah people are *trying* to rent their homes . . . but their aren't a lot of takers. http://www.washingtonpost.com/wp-dyn/content/article/2009/01/08/AR2009010803605.html
jmartinisu jmartinisu 7 years
I live in the DC metro area, and yeah people are *trying* to rent their homes . . . but their aren't a lot of takers. http://www.washingtonpost.com/wp-dyn/content/article/2009/01/08/AR2009010803605.html
tiabia tiabia 7 years
As soon as I saw this picture I knew it was DC, LOL!!!
stephsharer stephsharer 7 years
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/08/AR2009010803605.html?hpid=topnews
Backstage and Red Carpet Video From the 2010 Teen Choice Awards, Video of Zac Efron Shooting His Details Magazine Cover
Video of Zac Efron Shooting His Details Magazine Cover
Celebrities React to Proposition 8 Ruling, Video of Cameron Diaz and Alex Rodriguez in New York Together, and Video of Vanessa H
Celebrities React to Proposition 8 Ruling
Jennifer Lopez on Regis & Kelly Talking About Her Catsuit, Video of Jessica Simpson in NYC, and How I Met You Mother Spoilers 2010-04-20 13:56:25
Video of Neil Patrick Harris and Glee
What's the Longest You've Lived in a Rental Apartment?

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Home & Garden
All the Latest From Ryan Reynolds