In many markets, regulations are stifling the ability for owners to operate their vacation rentals. How can Rental Advisor help? We can help by finding creative ways to operate a vacation rental and remain compliant! In many markets it’s required that the home be booked for at least 30 days. That’s why Rental Advisor has designed a 1 in 30 day program for owners who are in a position to only take one reservation per month.
Here's How it Works
We market your property as per usual but set a fairly high minimum night stay (often 7 to 10 nights). Then let's imagine that someone books from March 4th to 14th. Our procedure is to block off the entire month of March and issue a contract to the guest which says that while the property is being set aside for the entire month of March, they will only have to pay for the dates of actual occupancy. This is signed by the guest and is kept on file so we have proof that we did indeed rent the property in 30-day increments, as is required by regulations. Ultimately regulations vary from market to market, but most require that homes have no more than one tenant in a 30-day period. However, most don’t require that a tenant occupy the home during the entirety of that 30-day period. In most markets if an owner wishes to charge guests on a per diem basis based on actual occupancy, they have every right to do so.
Still Get Bookings
In the end, an owner will secure twelve really solid bookings a year. While this certainly is not ideal, the alternative is often either to sell the property or bear all the costs of the property personally. This program works out very well for owners who do not require high levels of revenue but who do want to cover as much of the costs as possible while still retaining the property. If an owner is looking to maximize revenue they may want to consider selling and reinvesting while taking advantage of our data driven vacation rental investment program. For more details click here.
Note: Please note that we do not guarantee that this program will work in all markets and situations and proper legal counsel should be consulted as this does not constitute legal advice but merely our observations based on experience in the marketplace.