Transaction Documents

You will need a set of documents to note every part of the transaction. In case of any dispute you will then have a complete and dated record of everything that was agreed upon, payments made and any specific policies that apply to your rental.

Rental Application

It’s quite acceptable to ask clients to complete a form that provides basic information on the group that will occupy the property. This will give you the details to complete a rental agreement and can include names and ages of each member of the group; contact details, and any special requests your potential guests may have.

Rental Agreement

This is a legally binding document that is signed by owner and rental guest and defines the nature of the rental. It should include, as a minimum, the names and addresses of both parties to the agreement; dates of the rental period; rate to be paid; and maximum occupancy limits.

Terms & Conditions of Rental

The Terms and Conditions are set out to clarify the Owner's obligations to the Renter, the Renter's obligations to the owner, and in the very unlikely event of any disputes, the document can be used as a basis for any resolution.

The T & C can include the following:
Payment Terms – describes how payment should be made and when it is due
Cancellation Policy – specifies the penalties for cancellation
Condition of the property – how it should be left on departure
Pet Policy
Damage Deposit
Equipment and Facilities Provided – covers potential for breakdown and responsibility for essential and non-essential items.
Information contained in website or printed material – this is a disclaimer to cover errors or omissions

Statement of Accounts

Regardless of the payment terms you use, you need to have paperwork that shows when money has been collected, and if a deposit has been taken, when final payment is due. Each document should indicate the dates of the rental period and the name and address of the lead renter. If you collect sales tax, then your tax number will also be shown.