What you need to remember when renting out an apartment for daily rent

Short-term apartment rental is a very popular way to make money. Many owners prefer to rent their accommodation to tourists or people who want to save money on a hotel. This method of renting allows much more, but requires a number of conditions.

Daily rentals are not prohibited?

Recently, there have been many publications about what placement. Indeed, according to the rules that come into force from the end of 2019, all organizations ensure the transfer of premises to a non-residential fund, as well as install fire safety equipment, alarms and sound insulation. These rules do not apply to short-term rental apartments. According to the current rules, in order to legally rent an apartment for daily rent, it is enough to timely sign all the necessary documents with the residents and pay taxes.

What documents are needed for daily rent?

It all depends on whether the owner is engaged in the delivery of housing on his own or trusts this agency. In the first case, it is necessary to conclude a separate short-term lease agreement with each new tenant. At its core, it is not much different from the standard contract that is concluded when renting an apartment, but there are some differences that should be taken into account. Firstly, it is worth registering in the document the tenant’s obligation to make an advance payment. For example, a tenant may pay 50% of the amount upon arrival and 50% upon departure. Other payment options are also possible. Also, it will not be superfluous to indicate the exact period for which the apartment is rented, up to hours.

If the owner of the apartment does not want to deal with the selection of tenants and the execution of all documents, he can contact the real estate agency. These organizations take on the role of intermediaries and do all the main work. The relationship between the owner and the agency is formalized through an agreement with the help of sublease or by transferring the apartment to trust. It is important to be very careful about choosing an agency and drawing up a contract – not only income, but also the safety of your property may depend on this.

Is daily rental risky?

Damage and theft of property are among the main ones associated with daily rent. In this case, the “flow” of tenants is incomparably greater than with a long-term lease. With more people, the likelihood of fraudsters or dishonest customers inevitably rises.

To protect yourself as much as possible from such an unfavorable development of events, the answer is to draw up a contract and an inventory of property. It is also recommended to insure the property in case of unforeseen incidents.

What should be in an apartment?

An apartment that is rented for daily rent should have not only basic household appliances and furniture, but also things that create home coziness and provide comfort. For example, it is important that the apartment always has sets of fresh bed linen, towels, hairdryer, kettle, several types of tea and coffee. All this will allow you to leave a good impression of the apartment, and will allow you to get good reviews. As a rule, apartments with good reviews are rented more often, and the price for them can be raised over time.

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