When drafting an owner agreement, it’s tempting to recycle a previous contract or rely on a boilerplate found online. But it’s worth investing the time and money to craft a unique, customized owner agreement tailored to your business and its specific needs, as well as the needs of the homeowner. Clearly outlining the roles and responsibilities of both the vacation rental manager and homeowner will ultimately save you time, money and stress. Here are some things to keep in mind when drafting your next owner agreement.
This is part of an ongoing VRMA series of quarterly reviews of the top trends in the vacation rental industry. For those new to the series, you can find earlier posts under myVRMA Blog Contributor Page.
This series' intent is to synthesize major trends and developments within the vacation rental industry over the period, not to just summarize them all. My hope is to stimulate discussion and debate, and as such, I strongly encourage use of the comments section at the bottom. I would like to hear what trends you think I have missed and what vacation rental managers (VRMs) can do to benefit from positive trends while limiting the detriment caused by negative trends.