5 things to consider before signing for that luxury condo

Luxury condos, unlike the standard vacation rental, are the new way many people choose to spend their vacations. When you consider why you are going on vacation, it is because you are trying to get away from the busy world you inhabit day after day. You are also taking a vacation from your normal world, and this includes your own home. A luxury condo puts you in a world that has a bit of flavor and adventure because it feels like a world away.

This is going on vacation in style, but this means that you are paying a little more money than usual, and the last thing you want to do during your vacation is lose money. Travel experts insist that the number one way vacationers lose money on luxury condo rentals is that they don’t take the time to think about the luggage (figurative, not literal; also, if any) that comes with this type of rental agreement.

Here are five things to consider before signing on the dotted line:

1. Rental Agreement – Find additional fees and rental price details. Also, check if there are any issues with the rules and restrictions that bind you financially. It wouldn’t hurt for a third party to review any paperwork in case something is lost.

2. Documentation: Review your rental and verify that there are no simple or serious problems. These need to be addressed as soon as possible. Being able to tour the property should be an option. If not, you may need to make sure you have a backup plan in case you have to walk away.

3. Ask about the “friendliness” of the condo – If you know you are bringing your family, you will want to know ahead of time if you can move things around in your condo to avoid an accident. If there is any damage, do not cover anything.

4. Cleaning? – You’re on vacation and the last thing you want to do is do housework, especially when you’re in a luxury condo. If you know in advance whether it is necessary to maintain a super clean environment under the lease, this can affect your style and be a reason why renting a particular condo may not be for you.

5. Know your rights – Tenants can be left out in the cold and feel like they have no rights. The fact is, tenants have rights as consumers, and while this may vary from state to state, you also need to do some homework. The last thing you want to do is get scammed or painted on a corner of your rental agreement.

Because you are considering renting at any number of luxury condos, you may be spending a bit more than you normally would. As such, keep a record of any correspondence you have regarding any part of your rental transactions. Also, be a smart consumer and tired of anything that seems too good to be true.