How to Rent Your House to a Hotel

There are times when a hotel may want to rent a person's home.

There are many reasons why a hotel would want to rent a home. It could be near a prime vacation spot the hotel wants to invest in, or they may want extra space for the times when the hotel is overbooked. Regardless of the reason, renting your home to a hotel is no different than renting it to an individual person or business.

Instructions

Renting A Home To A Hotel

1. Take the initiative and contact the hotel directly. If this is something you want to initiate, then don't be afraid to contact nearby hotels. When there are conventions or professional sports games, the hotel may need extra spaces to house the sudden influx of guests and may be receptive to your services.

2. Agree on the terms. A hotel may want to pay you a straight rental per month to house their guests or they may want to pay rent only when guests are there. Before signing any contracts, you need to discuss the exact terms of the hotel rental agreement.

3. Contact a lawyer. Odds are the hotel has a cadre of lawyers at their beck-and-call to draft up the rental agreement. Once you have received the rental agreement, take it to a lawyer and make sure all your needs are met. If not, don't agree to the contract.

4. Be aware of the changes to the taxes. When you agree to rent your primary residence, the tax rules state it is no longer a primary residence, but an investment property. If the home you are renting to the hotel is not your primary residence, there is little change in your status.

References

• Fabulous and Frugal: Renting Out Your Home
• Federal Trade Commission: Facts for Consumers
• Propertydo.com: Rental Property Law
• Rentalsonline.com: Sublease