"UN"renting between renting to tenant advice
We are renting a studio in our home for mid-term lengths (traveling healthcare, students' clinical rotations, etc.). Between rentals when there isn't quite enough time to rent, we'd like to make the studio available, rent-free, for a week to 1) a 2nd* traveling grand/parent or 2) parent + young adult receiving treatment at a local med school so they don't have to incur the additional cost burden of housing while required to stay in town during their treatment.(*the hospital can usually accommodate 1 parent in the pediatric unit with a 2nd parent required to locate lodging elsewhere). We would not provide meals or any additional services; simply a peaceful, restful place to stay, rent-free. We still have the same concerns for vetting anyone staying with us, regardless of the reason for their stay, so we feel a background check is a must. QUESTIONS for this magnificent crowd:
- We want our place left as nicely as people find it. Any reason not to "charge" a refundable deposit as that incentive?
- Any damage could result in a lot of $$$ for us - any reason not to require renter's insurance?
- We will use a modified lease agreement - any language to be sure to include?
We want this to be easy and beneficial for them, not another hassle or expense in what is likely a very difficult time for them. At the same time, we need to protect ourselves. Your advice is always appreciated.