Here is a sample sublease agreement you can fill out or use as a template. What income is considered taxable?Short-term residential rentals are lodging rental stays for less than 30 days. Quickly find your perfect investment property based on your cash flow and ROI goals. You will generally use Schedule E of form 1040 to report your rental income and expenses. You should give them a notice to vacate after at least five days. If they don't leave within the timeframe, you can file an eviction action with the court.