In a notice to the Sedona Verde Valley Association of REALTORS® that was forwarded to the Arizona Association of REALTORS® (AAR), a member reports that a tenant violated their lease agreement by offering the property as an available short term or vacation rental.
Pursuant to the report, a tenant signed an AAR Residential Lease Agreement indicating that he/she would occupy the property. In violation of the Lease Agreement’s assignment and occupancy restrictions, the tenant proceeded to list the leased property on websites that cater to short term or vacation rentals such as Airbnb, VRBO and others.
When it came to the attention of the property manager that the property was being occupied by someone other than the tenant, the property manager immediately posted a notice at the property terminating the lease. The occupants she met at the property while posting the notice were under the impression that the person they had leased from was the rightful owner of the property.
To avoid a similar predicament, it is suggested that property managers check short term rental sites against the addresses of leased properties they manage to ensure that a tenant is not violating the existing lease agreement.