Park City rentals are the ideal way to spend a trip away with a large number of guests, or they can become full-time accommodations. Whether it is a holiday you seek or a permanent residence, these are the three tips to help you choose the right rental in Park City for you and your family:
1. Understand All Pricing and Fees
Before tempting the idea of renting one of the many Park City rentals available, hash out a housing budget. Just as if you were paying a mortgage, ideally your housing budget should not account for more than 20% of your pretax monthly income.
Once you have solid numbers and have found a few properties that you like, it’s time to start reading contracts and leasing agreements. Look for items such as:
- If the landlord will be charging more for appliances (including stove, refrigerator, and laundry)
- If garbage pick-up and utilities are included in the rental price
- If and when the security deposit will be returned after the term of the lease
2. Understand the Contract
Know what you’re signing before you move into Park City rentals. Ask questions if anything seems complex or unclear. Highlight and make sure that you fully understand items such as:
- The length of the lease
- How much of a deposit is required upon moving into the Utah property
- Property maintenance obligations
- Pet policies (as well as if a deposit is required)
- Whether cosmetic changes are permissible (i.e. changing the paint colors, adding lighting, changing or adding furniture and furnishings)
- When or if the lease can be broken
For those who are planning on moving in with roommates, be sure to ask about whether or not roommates are able to negotiate their own lease, and what may happen to you should a roommate default on a rental payment. Finally, ask about what happens once the lease is up. For those using a Park City rental property as a temporary vacation home, ask about if and how you can extend your stay if desired. For those who are using the property for a more permanent purpose, ask if you can switch to a month-to-month contract.
3. Invest In Rental Insurance
Whether vacationing or setting a firm foundation in Park City, Utah, it is almost always a good idea to invest in rental insurance. The landlord or property owner will have his or her own insurance, but this will typically only cover damage to the structure of the home. You, as an occupant, will need separate renter’s insurance that will cover your belongings should they become damaged in a flood, fire, earthquake or other natural disaster.
