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Short Term Rental Program

This program is designed to meet the special criteria of those people on temporary work assignments or those people in need of temporary housing.  All properties involved in this program would meet certain guidelines for brief rental terms of 30, 60 or 90 days.  In some cases the term could be extended.  The following guidelines describe the program which may fit your individual property management needs.

Guidelines

 Rental Collection Policies: 

            We will collect a security deposit and a non refundable cleaning deposit for all properties.  If the rental is for 90 days or less, we will collect 100% of the rents prior to move in.  If pets are allowed, there will be a pet deposit for EACH pet and a $5 per day additional charge for the pet.  If the rental term is more than 90 days, the owner may want to offer a 10% rent discount if all rents are paid in full prior to occupancy.

Rental Pricing: 

            Most short term rentals will be priced higher than annual rentals.  The amount will vary with the type of property, location and seasonal availability.  On average short term rental properties will rent for 20% to30% more per month than an annual rental.  Please be aware that these prices INCLUDE utilities and should be adjusted for the summer months’ increased air conditioning and water expenses.  

Management Details: 

Standard GLVAR lease will be used with an addendum of the personal property inventory provided by the property owner

Graduated fee structure: 

• New Tenant Lease fee: 

• 30 day rental = 5% of one month

• 60 day rental = 8% of one month

• 90 day rental= 10% of one month

• Over 90 days to 150 days = 12% of one month

Management fee: 

• 30 day rental:  15% of rents

• 60 day rental:  14% of rents

• 90 day rental: 12% of rents

• 91+ day rentals:  10%

• $75 move out inspection charge at each move out.

• $175 one time set up and marketing charge

 Using this Program: 

The SHORT TERM RENTAL program works best for property owners who may wish to use their property at specified times during the year, or who wish to capitalize on the potential higher rent on a fully furnished property.  Often short term tenants are on a temporary work assignment, or may be in the process of locating permanent housing.  Owners should recognize that there is a risk to the personal property made available in the property and should NOT allow family heirlooms or other important or very valuable items to be included in the furnishings.  For example:  antiques, expensive china, sterling silver, and heirloom pieces should be removed from the property.  It may be feasible to allocate one small closet in the property to be the “owner’s closet”.  That closet would be secured and would only be for the property owners’ access and use.  Please check with your HOA to determine any restrictions for short term rental of your property.  Numerous HOA’s in the valley DO NOT ALLOW for any rentals less than 6 months.