Vacation Property Rental

[Scott Perrin]

I am a newbee to rental property and I recently assumed responsibility to manage the rental of a family owned vacation home. Historically the property has rented for a single week at a time but I recently received an inquiry about a 4 month rental during this winters ski season. My question is about how to structure the rental, especially how to deal with the utilities. Should i have them sign a lease, should I include utilities in the monthly rent or have the renters pay utilities seperately. Any feedback will be greatly appreciated.

[Jon Holdman]

I've rented vacation properties several times and they always work more like a hotel than a rental. Utilities are always included. Yes, your tenants can be wasteful, just like in a hotel, but your prices should be high enough to cover that.

Check out vacation rental sites like vrbo or tripadvisor and see how others are leasing their vacation rentals. There is usually some sort of agreement, but its not really a lease. Usually some sort of cleaning fee that's mandatory. Some times a deposit, though it usually only a couple hundred. You might look on those sites (there are a few others, too,) find some in you area and call them and ask about their procedures.