![]() |
Agreement # EXAMPLE THIS PROPERTY AGREEMENT
shall
be effective
By and between SIGNATURE VILLAS ORLANDO, LLC of registered address: 15350 Grandhaven Drive, Clermont, FL 34714, USA hereinafter will be referred to as the
Hereinafter will be referred to as the "Owner" WHEREAS, the” Manager” desires to provide property management services for absentee property “Owner's” and WHEREAS, the “Owner” desires to enter into agreement with the “Manager” under the terms, covenants and conditions hereinafter set forth at the property of the “Owner” hereinafter called the “Property” located at:
This agreement is for the initial term of 12 months and is subject to
automatic renewal at the end of each 12 month term unless written notice is served at least 30 days prior to expiration of the current term. NOW THEREFORE, in consideration of the mutual covenants and promises of the parties involved, it is hereby agreed as follows: THE “MANAGERS” OBLIGATIONS The “Manager” shall have the right to rent and manage the “Property” on behalf of the “Owner” and pursuant to such right; the “Manager” shall provide and perform the following services outlined below a) Carry out the walk through inspection of “Property”,
prior to closing (if new)
This will entail: i. Inspection of “Property” for compliance with all building and hotels & motels safety regulations in effect for
short-term rentals. ii. Carry out initial inspection of “Property” to
include; pool, lawns, plants and physical Appearance of the “Property” furnishing condition, house
wares and general marketability of
the “Property” as a short-term rental unit. b) Administer
and maintain services on behalf of the “Owner”. c)
Make routine inspections of the “Property”. d) Manage and promote rentals and reservations of the “Property”. e)
Provide a detailed monthly statement of
income and expenses. f) Check all registrations and licenses are in place and check all dates for validity. Provide estimates to the owner for obtaining new or renewals if required. g) Replace/change all locks to
the “Property” to ensure that only the “Manager” and “Owner” have access to
the “Property” even if the “Property” is new. h) Arrange/setup the activation of utilities (if the “Property” is
new)
and set up direct debits as bill Payments. J) Set up transfer mailing addresses for utilities if required. It is the “Managers” obligation to ensure that the “Property” meets the standards
required by law and the standards of the “Manager”. Failure to comply
with the findings of this inspection will result in the termination of this agreement. The work required must be carried out within a reasonable time period to be agreed upon between the “Manager” and the “Owner”. The estimated costs for the initial setting up of a new “Property” for short-term rentals are as
stated in “Appendix D”. k) Inspect fire extinguishers and smoke alarms annually and arrange maintenance /service when required. All costs for this work will be passed on to the “Owner” for authorization
prior to commencement of work. l)
Carry out inventory checks after guests have departed the “Property”. Guests will be responsible for the replacement of any discrepancies with the inventory. This will be deducted from guests Security deposit left at registration. m) Accept no responsibility for lost, missing or damaged items, other than to report such findings to the “Owner”. Similarly, the “Manager”
cannot accept any responsibility for mistakes on “Owner”
bookings, or when an “Owner” fails to give the “Manager” details of any bookings that they have made for own use of the “Property”. n) Upon “Owner” request provide a welcome grocery pack for guests on their arrival. p) Upon “Owner” request provide a meet and greet service at the airport to take clients to the “Property”. MANAGEMENT & MAINTENANCE FEES The “Manager” shall charge the “Owner” a monthly/quarterly recurring fee. The fee's are as follows:
Check box(s) that apply. Lawn Maintenance - $80.00 Pool Maintenance - $85.00 OR
Pool with Spa - $90.00 Monthly Internal Pest Control -
$35.00 A/C Filter Change - $15.00
Single Unit OR $25.00 for Double Units Consumables - $20.00 Quarterly Lawn Pest Control and
Fertilizer - $120.00 “Property” Cleaning and Laundry Fees The “Property”
is cleaned and inspected before and after each rental period. Cleans are charged to the “Owner” on an `as needed
basis'. * Cleaning charges are based on the size of the “Property” and are as follows: 3 Bedrooms - $80.00 4 Bedrooms - $100.00 5 Bedrooms - $110.00 6 Bedrooms - $120.00 7 Bedrooms - $140.00 * Clean fee will be waived for “Managers” bookings that are less than 6 nights. Agreement # EXAMPLE
PLEASE NOTE: All companies contracted to perform such services are licensed and insured as required
by Florida law. The “Manager”
accepts no responsibility for any personal injury or “Property”
damage or any such claims which may result from the actions, negligence or lack of performance of any company contracted directly by the “Owner” to perform any of the following
services. The “Manager” will, however, monitor
the performance of any such contractors as part of the general management duties. Monthly Payments to “Owner” The “Manager” will make every effort to rent the “Property” at the highest rate possible and endeavor to achieve the highest levels of occupancy. The “Manager”
agrees to pay the “Owner” on a monthly basis no later than the 25th of the following month any balance on the “Owners” account that exceeds the agreed reserve (target) capital of $1,000.00. This balance will be deposited into the “Owners” US bank account. Rentals
the “Owner” as possible. All bookings provided by the “Owner” will be the “Owners” full responsibility, including payments of security deposits. Any costs
arising from an “Owner” booking will be notified and deducted from escrow account. THE “OWNERS” OBLIGATIONS The “Owner” is responsible for all expenses associated with the” Property” including mortgage
repayments, homeowner's association fees, insurance premiums, real estate taxes and general running cost. When “Owners” balance falls below the required reserved (target) capital of $1,000.00 then the “Owner” must pay the difference required within 15 days of receipt by the “Owner” of an invoice and statement stating the expenditures or is subject to a $50.00
late fee “Owner” acknowledges and agrees that the “Manager” is under no obligation to pay bills or provide services where such payment or provision of services would
result in a deficit in “Owners” escrow account. Should such a situation
arise the “Manager” has the right to cancel the CONTRACT forthwith. a) Agrees to pay all charges/fee's concerned with utilities installations (power, water/sewage, telephone, cable and gas - if applicable) and any other relevant services and agrees to lodge any required deposits. b) Agrees to pay all costs involved in obtaining relevant short-term rentals license and registrations. c) Agrees to a monthly management fee for general management
services for the duration of this agreement. Payments
will be due by return. d)
The “Owner” holds the right to occupy the “Property” or place own bookings as much and whenever the “Owner” desires, subject to
availability and when arrangements are made 60 days prior to booking. Reserve (target) The “Owner” agrees to maintain a reserve (target) of $1,000.00 held in escrow account and is to be used for the sole purpose of costs relating
to general running and rental of the home. Insurance The “Owner” must maintain public liability insurance on the “Property”. The sum insured must be at least $1,000,000.00 and property damage insurance, including fire theft and flood to an amount not less than the Value of the “Property”. The “Owner” shall provide the “Manager”
with certificates of insurance.
If the “Owner” fails to maintain such insurance, the “Manager” is hereby authorized to secure or purchase such insurance and charge the amount thereof to the “Owner”. Limited power of Attorney “Owner” agrees to provide to the “Manager” a limited power of attorney to enable the “Manager” to act on behalf of the “Owner” in relation to
the supply of service and utilities. IRS Forms Overseas “Owner” agrees to submit form W-7 directly to the U.S IRS to provide the “Manager”
with their personal taxpayer ID number.
Overseas “Owners”
Agree to
complete and sign W-8ECI form. The “Owner’s
ar e completely Responsible for payment of personal income
tax on the said “Property”. All U.S citizens are required to
provide their Social Security Number (SSN). “Property” Repairs The “Manager” will arrange all general repairs that are essential for maintaining the home to a level satisfactory
to both parties. The “Manager”
has the
right to carry out repairs
up to $300.00 without prior notification to the “Owner”. Any repair costing more than $300.00 will be submitted to the “Owner” for authorization unless repair is an emergency and required in order to comply with obligations to the renter. In such circumstances the “Manager” agrees to
notify the “Owner” promptly and the “Owner” agrees to meet the cost of repairs. Sales/tourist Tax The “Manager” will submit to
whichever government authority all sales and other taxes collected on rentals provided by the “Manager”. The “Owner” is responsible to report and pay all taxes on home “Owner” bookings. It is a crime under Florida State law not to remit sales and tourist tax as and when due. Hold Harmless It is agreed that the “Owner” will indemnify the “Manager” and hold harmless, responsibility for changes in legislation affecting rental properties or any other circumstance that affects the marketability of the “Property” and will also indemnify any costs or damages so associated. The “Owner”
will also
indemnify the “Manager” and hold harmless for any acts of god. In addition the “Owner” agrees to indemnify and Hold harmless the “Manager” together with its agents, employees
and representatives from all claims, damages, law suits, associated costs, losses and expenses. This will include attorney fees
and legal costs that may arise from injury to any person within or about the “Property” arising from the services provided by the “Manager” under this agreement, provided that the “Manager” is not in any way grossly negligent in the duties that have been performed. Provision All signage, materials and copyrights remain the property of the “Manager” on termination of contract signage will be removed and any damage caused
will be made good by the “Manager” Waiver Modification No waiver or modifications of this agreement or of any covenant, condition or limitation herein contained Shall be valid unless in writing, duly executed by both the “Owner” and the “Manager”. Agreement Termination The agreement will remain in effect unless either party gives notice of termination. a) The “Owner” and/or “Manager” upon giving 30 days written notice. b) The “Owner may terminate in the event of failure on the part of the “Manager” to adhere to the duties and responsibilities (and vice versa) as stated in this agreement and accepted by the “Owner”. Governing Law All parties to this agreement agree that any and all litigation arising out of this agreement shall be initiated and maintained exclusively
in the circuit courts of Osceola County, Florida. The laws of the State of Florida shall govern this agreement. Agreement # EXAMPLE |