Drafting a Long-term Lease Agreement for Short-Term Rental

[Frank Ngo]

We recently had to transition our short term rental to a long-term rental due to our city banning short term rentals. Due to this, the medium we utilize, AirBnB, has forced all our bookings to be a minimum of 31 days. We were contacted by a group consisting of four people inquiring about staying for potentially a few months. They are here for practice and are working on getting into a professional sport with an established team. From what we gathered, at least a couple of these people have a very good chance in making the team.

We are in the process of drafting a lease agreement, but we never had long term tenants before. We’re going to structure our lease agreement to an old lease agreement we had when we were renting. We were wondering if anyone had any advice or know if there is anything we needed to include in our lease to protect ourselves? Any advice overall that we should heed? Thank you very much!