A lease is simply a contract between the landlord and the tenant. It`s a bit like a lease for an apartment, except that a vacation rental agreement only covers the short period during which your customers rent out your property. Not only who are you, but who rents your home? The agreement should include your full name as the owner and the names of all guests who will be staying at your accommodation on the dates indicated. Ngoc, fortunately, I didn`t have anyone who went beyond his lease. But if I did, I believe the only protection would be bail money or coverage from Berger, Fox, etc. (and that would be for subsequent tenants). Even umbrella insurance would not cover this. You should use a rental agreement, regardless of the length of the reservation. Even one night can cause a lot of headaches and damage. You want to make sure you`re protected. A lease should also be used when renting your property to your friends. While this may seem unpleasant, it gives you maximum legal protection and can help protect your friendship by spelling out what is not acceptable on your land.