Best Practices for Renting Property in Lost Valley

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The Rental Committee would like to make the following recommendations for potential cottage renting in our subdivision. These are only recommendations and not enforced by the Committee.  However, the Rules and Regulations are mandatory and will be enforced.

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If you are renting for any length of time, inform the chair of the Rental Committee of the best contact information in the case of problems, particularly if the property has multiple owners. [Mary Kay Kuerth is current rental committee chair] This list might also be used to update renting homeowners of rental property issues and keep them informed of LVPOA Rental Committee information.

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• Have a professional rental lease agreement in place for each tenant. This lease should include among other things all of the Lost Valley Rules and Regulations.
   

• Check with your home owner’s insurance representative to make sure they allow short term rentals of your property.
   

• Email a copy of the LVPOA Rules and Regulations and your own cottage rules to each tenant ahead of their occupancy and stress the importance of compliance.
   

• Review the Lost Valley Rules and Regulations and your own cottage rules in a conversation with your renters prior to renting.
   

• Arrange for a security deposit to be in place to cover property damages.
   

• Talk directly to your neighbors on either side to inform them that you are now renting and ask them to contact you immediately with any concerns.
   

• Post the Lost Valley Rules and Regulations and your own cottage rules inside your cottage in a visible location to remind tenants of their existence and enforcement.
   

• Have frequent correspondence with your tenant before occupancy to form an open and  working relationship with them.
   

• Register with Muskegon County to report the Hotel Motel Tax which you must collect from tenants. The rate right now is around 5% of the weekly rental total and is usually paid by the property owner quarterly.
   

• Meet each new tenant onsite at check-in to answer questions and give instructions.