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Updated almost 2 years ago on . Most recent reply

User Stats

75
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27
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Taylor Witt
  • Rental Property Investor
  • Alexandria, MN
27
Votes |
75
Posts

Rental paperwork, payments, and deposits

Taylor Witt
  • Rental Property Investor
  • Alexandria, MN
Posted
My wife and I recently bought a family cabin, but we also want to rent it out by the week and/or month during times we aren't planning on being there.  Our County will not allow us to list on VRBO or Air BnB unless we list as a monthly rental, and they do monitor those websites.  Because of that I am going to create a flyer we can send to Realtors and post on Facebook and various sites.

Since we aren't using VRBO or Air BnB I will need to figure out a lease/paperwork for my renters to sign, a way for them to send payment and a deposit.

1. Where can I find rental documents specific to STR's?  What are those websites and what documents should I use?
2. What are the best ways to collect rent/security deposits - Vemno, PayPal, or others?
3. Better yet, is there a website (not Air BnB or VRBO) that could be used to handle all paperwork & deposit of payments?  That way I wouldn't need to piecemeal it together.

Is there anything else I'm missing or need to account for?

Taylor Witt

Most Popular Reply

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2,233
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1,292
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Sarah Kensinger
  • Real Estate Consultant
  • Ohio
1,292
Votes |
2,233
Posts
Sarah Kensinger
  • Real Estate Consultant
  • Ohio
Replied

This just isn't going to work, nothing good ever comes from skirting around the laws/rules. You can rent for 30 days, jump into the mid-term rental circles and learn all you can. Or just rent it for 30 days and if people want to stay there, they'll pay the full 30 days even though they can't be there the whole time. That happens a lot on some of the islands in FL... 30 days rentals that actually only have people staying at the property for maybe 2-3 weeks. But I would check into your options and market on turning the cabin into a mid-term rental. 

  • Sarah Kensinger
  • [email protected]
  • 330-557-3021
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