It is great, especially for pet owners.

We have an investor (he's invested on other projects with us) with fund management experience we're working with to set one up but he's semi-retired and it's a pet project for him. 

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Almost always there are some minor maintenance items needed to prevent them from becoming bigger problems.Also drive by the outside of the homes on a regular basis and if there is cause for concern there (unkept yard, junk outside, undisclosed pet) we immediately schedule an inspection

I'll also notice extra people, pets, garbage, what have you. 

One scenario that is not covered say you allow pets in your STR and the STR guest is out walking their dog and that dog bites a neighbors child enough to warrant some sort of medical care.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

This is a personal pet peeve of mine.

For a few bucks, anyone can go online and get a "certificate" for their pet (insert animal here).

If neighbors are complaining, I personally visit with them and offer to pay them $50 if they can find me visual proof of unauthorized pets/persons, code violations, etc.