Mid Term Rental Agreement

[Jeremy Jareckyj]

Anyone have a good MTR furnished rental agreement they would be willing to share?

I have one I have drafted up but would love to compare against others.

What are some items you always included in your MTR rental agreements?

[Ben Russell]

Although I agree the leases and the legal implications of "Mid-Term" rentals and "long-term" rentals are closly related, I don't think the leases should be identical. 

There are several aspects of a long term lease that are not needed, or additions that should be included in a mid term. People staying for 30-90 days are a completely different customers than someone in a years lease. 

Changes to the lease for stays under 6 months include:

-Changes to the move out terms. LTR tenants are required to have the home professionally cleaned.  In MTR, this provision is changed to a cleaning fee and it outlines specifically what cleaning and tasks the tenant must do before moving out. 

-Changes to lease break situations. We are more willing to break leases due to employment changes in a MTR.  Think contract nurses. 

 -Changes to the timeline for notice to renew.  

-Unless renewed, All MTR leases end and a specific move-out time is listed. 

-Decreased security deposit to 1x for MTR.

-In LTR we allow the use of security deposit alternatives. We don't for MTR. 

-Limits placed on the number of people that can be in the residence at any one time (i.e., no parties, gatherings or additional overnight guests).

-LTR we have 60 days to return the SD.  MTR, we will return it in 30.  

-Detailed inventory and inspection of owners property (this is done for LTR also, but few LTRs are fully furnished and outfitted). 

-Outlines what is considered damage to linens and other personal property (ie., stains, etc)

-MTR we are flexible on the lease end date and will prorate last month's rent.  LTR always ends at the end of the month. 

Most of the core aspects of your LTR lease remain, but there are a few tweeks that I think make MTRs easier to deal with and more appealing to your customers.