Advice Needed for making a Medium Term Rental Contract

[Jay Moore]

Hello BiggerPockets Community,

I'm a newbie landlord I've decided to offer my property as a medium-term rental (typically 1 to 6 months). I believe this duration is ideal for attracting professionals on temporary assignments, traveling nurses, and individuals relocating or renovating their homes. However, I want to ensure that my rental contract is comprehensive and protects both my interests and those of my tenants.

I'd greatly appreciate any advice or tips on what to include in a medium-term rental contract. Specifically, I'm looking for guidance on:

1. **Essential Clauses**: What are the must-have clauses in a medium-term rental agreement? Are there any specific to this type of rental duration?

2. **Security Deposits**: How should I handle security deposits for medium-term rentals? What is the standard practice in terms of amount and terms?

3. **Maintenance and Repairs**: How should responsibilities for maintenance and repairs be divided between landlord and tenant for medium-term stays?

4. **Furnishing and Utilities**: My property is fully furnished, and I plan to include utilities. What should I specify about these in the contract to avoid misunderstandings?

5. **Cancellation and Termination**: What are fair and effective policies for early termination or cancellation from both landlord and tenant perspectives?

6. **Insurance and Liability**: What insurance considerations should I keep in mind, and what liability clauses are important to include?

7. **Additional Tips**: Any other advice or experiences from those who have successfully managed medium-term rentals would be invaluable.

I want to ensure that my contract is clear, fair, and legally sound. If anyone has a template or an example of a medium-term rental contract they could share, that would be extremely helpful.

Thank you in advance for your time and assistance. I look forward to learning from your experiences and expertise!

[John Underwood]

It is essentially the same as a LTR lease with less time.

I would say you provide starter supplies of consumables and cleaning only happens after they leave. This will help set clear expectations so they don't think they are getting weekly maid service.