Protect your Property and Build Credibility with Rental Agreements
Ensuring that your guests sign a rental agreement is crucial for protecting your property and setting clear expectations. A well-structured rental agreement outlines the terms of the stay, responsibilities, and legal obligations for both parties.
Providing a formal written agreement also builds your credibility as a host and creates a sense of professionalism that guests have come to expect within the short-term rental industry. Being able to templatize agreements and automatically send them to guests decreases the likelihood of misunderstandings between you and your guests.
With this kind of functionality, you can also offer unique guest experiences while protecting your assets. A great example of this would be creating a bike rental agreement for guests to sign. This is why we are excited to announce that Rental Agreements are available for everyone to use, regardless of the channels your guests book through!
How’s It Work?
Creating Your Rental Agreement
Within your hosting platform, navigate to the Guest Experience section and select the Rental Agreements option. Here, you can create a new template or customize an existing one to suit your property's needs. Ensure that the agreement covers essential aspects such as payment terms, house rules, and cancellation policies.
Implementing the Agreement
Once your template is ready, the system will automatically generate a rental agreement for each new reservation. This agreement will be accessible to guests through their Guest Portal as a required task before check-in. Guests will receive a prompt to review and sign the agreement, ensuring they’re aware of and agree to the terms before their stay.
Guest Verification and Signing
To maintain security, guests must verify their identity by receiving a one-time code via email or SMS. After verification, they can review the agreement and provide a digital signature, either by selecting a signature font or by manually signing using a mouse or touchscreen. The system records the timestamp and generates a unique document ID, creating a locked PDF for your records.
Managing Signed Agreements
You can view all your guests’ signed agreements in the Signed Agreements tab. Unsigned agreements will appear as pending, while signed ones will display the date and full name of the signatory. Clicking on any document lets you to open and download the PDF for your records.
Prompting Guests to Sign the Rental Agreement
Include a link to the Guest Portal in your New Reservation messaging to encourage prompt signing. Incorporate the %guest_portal% shortcode into your message, which will populate with the Guest Portal link. Providing clear instructions and emphasizing the importance of reviewing and signing the rental agreement can facilitate a smoother check-in process. We will also send a reminder email two days after the reservation is accepted if the agreement is not signed yet.
Why Use It?
Why Use Rental Agreements?
There are many reasons to provide rental agreements to your guests, many of which provide benefits for both parties. Here are a few of the most common purposes:
- Maintain legal protection. A signed rental agreement serves as a legally binding document that can protect you in case of disputes or damages.
- Set clear expectations. Outlining house rules and responsibilities ensures that guests understand what is expected during their stay, leading to fewer misunderstandings.
- Create a sense of professionalism: Providing a formal agreement enhances your credibility as a host and can improve guest trust and satisfaction.
Implementing rental agreements is a proactive step toward safeguarding your property and ensuring a positive experience for both you and your guests. By utilizing the tools available within your hosting platform, you can automate this process, making it seamless and efficient.
For more detailed information and step-by-step guidance, refer to the Rental Agreements article in the Hospitable Help Center.
What Do You Think?
We would love to hear your thoughts on the Rental Agreements feature. Is there something you’d like to see in the feature's coming iterations? Fill out the form below!
Stay tuned for more product updates!
