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NO SHORT TERM RENTALS
February 21st, 2017 6:52 AM

 

Barbara’s Blog:

Frequently, we are asked to assist in finding short term rental properties for those wanting to vacation for one month to several months, especially during the winter.  Although we always appreciate a referral, there seems to be some confusion as to what services we do provide concerning the rental market. 

We have never been involved in short-term rentals, but for years have successfully rented long term leases (12 months minimum). Our primary rental market area is Ridgewood Lakes, but on occasion we will list outside of the community for customers we have worked with in the past.  As with our homes for sale, we always list our rental homes on our website under “homes for rent” on the home page.

The short-term rental market requires a business license for tax purposes, and a property management to ensure that the home is cared for properly, cleaned between tenants, and rental bookings with income spread sheets are maintained.  Any problems or concerns of a tenant are the responsibility of that property management and they need to be accessible at all times for any emergencies. 

In contrast, a long-term lease is signed between landlord and tenant, with the new tenants responsible for utilities and general maintenance of the home while it is their residence.  As real estate agents, we are only responsible for processing the rental application, qualifying the applicants, making a recommendation and writing the rental lease.   There is no business license required for the homeowners on a long- term lease, but they are still required to take care of payments to the HOA, homeowners insurance and taxes. 

There are a variety of short-term rental websites that advertise condos or homes for rent by the week or month and many book a year in advance for the popular winter months.  Local property management companies can also be contacted for potential rental homes.  However, WE do not handle any short-term rental properties.  We hope this helps with some of the misconceptions of our services, and we look forward to assisting those who wish to purchase or rent long-term.

Written by Barbara Doeringer


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Posted by Allen Doeringer on February 21st, 2017 6:52 AMPost a Comment

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