Archives For Contracts & Payments

Property Damage ProtectionWhether someone trips and breaks a dish over dinner or one of your guests throws a wild party, it’s almost inevitable that at some point, your vacation rental will suffer some damage.

Because of the near-inevitability of this, security deposits are a routine part of rental transactions.

Typically half the rental fee, a security deposit — also called a damage deposit — is typically collected by check or credit card and held until after the guest leaves and you or your housekeeper has had a chance to do a final inspection. Any damage or extra fees (e.g. additional cleaning) can then be deducted against the amount; any remainder is then refunded.

It’s a pretty straightforward process. However, deposits and deductions can also be a source of contention for two reasons: Continue Reading…

Friends and Family DiscountsWhen it comes to cutting friends and family a good deal for your vacation rental, ground rules aren’t the only thing to pay attention to.

Before you start filling your vacation rental calendar with bookings from friends and family, or resenting every request you get, consider the following six suggestions for managing what can be a delicate situation.

1. Let them know it’s a special deal

However you handle special arrangements, it’s important to let the person you’re renting to understand that the deal they’re getting is special to them.

If you’re offering your vacation rental for free, chances are that it’s to someone who’s important to you; let them know that this time away is a gift from you. If you’re offering a deep discount, share that it’s a private offer because they’re important to you. Continue Reading…

Dirty Kitchen Sink

you don’t want your kitchen left like this for the next guest

The owner with the ski-in/ski-out condo or beach-front cottage is bound to be popular. But what do you do when people you know and like come looking for a discounted or free vacation?

Being able to share your vacation rental with people you have a relationship with is one of the benefits of having a vacation home. However, doing so without carefully-considered ground rules that you’re both comfortable with lead to awkward situations, and even leave you feeling bitter or taken advantage of. Continue Reading…

Pet Policy to ConsiderThoughtful policies and procedures for your vacation rental are your first line of defence against disagreements with renters and other awkward or upsetting situations.

A real estate lawyer will walk you through the contractual basics, like your reservation policies, and ensure any legal requirements are covered.

However, the essentials can vary depending on your preferences, and other guidelines outline your processes and expectations. Here’s an overview of policies and procedures you should consider. Continue Reading…

iPhone Calendar Paperless Vacation RentalFor many vacation home owners, the movement towards a paperless office isn’t just the environmentally friendly solution – it’s the solution that makes the most sense. How much information do you already email back-and-forth between yourself and your renters, property manager, or accountant?

Calling it “paperless” can be a bit misleading; more often than not, the reality is simply “less paper” – potentially significantly less paper. However, committing to a paperless office is increasingly affordable, and it’s only going to get easier.

Adopting a paperless philosophy for your vacation rental has two benefits:

  • Cutting your need for paper helps eliminate waste and scale back printing costs.
  • Incorporating digital solutions can help streamline standard processes. Continue Reading…