What Is a Short Term Rental?

A short term rental could also be a short-term leasing agreement between a property owner and a tenant. In this case, the tenant would be allowed to rent the property for a specified period of time. If this time period is not satisfied, the landlord may decide to put the dwelling unit up for rent again. In the meantime, the tenant will pay the landlord for rent. Most landlords prefer that a short term rental is a single month's rental. This ensures that the property does not become a liability for more than a single month.

If you plan on owning a vacation home or a business property, you need to be familiar with the local rules and regulations. If you have a primary residence, you are not required to obtain a short term rental license for every vacation home you own. Your primary residence might just qualify you for a multifamily dwelling unit.

If you are looking into buying a vacation property, you should be aware that most cities do not require a tourist home or a short term rental license for this type of property. However, if you plan on turning your vacation home into a primary residence, you might want to consider buying a secondary residence or even a multi-unit dwelling unit. For example, if you are purchasing a vacation home and want to turn it into a primary residence, you will probably need a short term rental license for about six months. Then you can move into your new primary residence after that.

Whether you are planning on turning your primary residence into a vacation home or a multi-unit dwelling unit, you should check the local residential zoning districts. You might also want to check with the tourism board in the area you plan on visiting. Many tourists find that the rules in tourist areas differ from those in residential areas. However, most tourist areas will allow short term rentals.