Short Term Residential Real Estate Listing & Exclusive Representation Agreement
1. PARTIES: The parties to this Short Term Residential Real Estate Listing & Exclusive Representation Agreement (the “Agreement”) are:
Property City/State/Zip (if different from above)
THE RENTER’S CLUB, LLC (“Company”)
Address: 4209 Dunning Ln
City/State/Zip: Austin, TX 78746
Phone: 512 952 9113
Homeowner appoints Company as Homeowner’s sole and exclusive representative and grants to Company the exclusive right to represent the Property to secure Guest License Agreements for short term rentals. Homeowner shall not lease or arrange for any paid occupancy of the Property other than by referral of prospective guests to the Company. In addition, Homeowner agrees not to accept any remuneration from any party other than the Company for booking of the Property and agrees to refer the Company all rental inquiries during the term of this Listing Agreement.
2. PROPERTY: “Property” means the land described below, improvements, it’s fixtures, and the non-real estate items described below, except for any exclusions described below.
Land: in the City of _____________________________ in ______________________________ County, Texas known as _________________________________________________________________(address/zip code). Except for items excluded below, Homeowner instructs Company to market the Property with all its furnishings, fixtures and improvements. __________________________________________________________________
3. COMPANY COMPENSATION: Homeowner agrees to pay Company ____% of all Net Rental Fees collected (the “Company Fee” or “Commission”). The Company Fee will be deducted from Net Rental Fees prior to the payment of the remaining Net Rental Fees to the Homeowner. Homeowner is not responsible for payment of any Company Fee on Guest License Agreements in which Rental Fees are not collected. Company is not responsible for payment to Homeowner of any uncollected Rental Fees.
4. TERM: This Agreement will continue indefinitely until either party provides 24 hours written notice of termination. All Guest License Agreements in effect for any dates after such termination will survive termination of this Agreement and Homeowner agrees to allow the Company to perform necessary duties to honor such Guest License Agreements. Upon termination of this Agreement by either party, Homeowner agrees to reimburse or compensate Company for any and all outstanding expenses, payments, administrative fees, or any other fees Company is entitled to receive under this Agreement.
5. RENTAL FEES AND PAYMENTS: The “Rental Fee” charged for each booking will vary due to occupancy, weather, seasons, length of stay, availability, holidays, dates, etc.
Payments: The Company will collect Rental Fees (AKA Accommodation Charges), taxes, cleaning fees, deposits, booking fees, administrative fees, product processing fees, and damages from guests and provide accounting services for collection of any amounts due to the owner under this agreement. On the 5th of each month, the Company will send Homeowner a Monthly Distribution Statement and Hotel Occupancy Tax Summary for all rentals checking out during the previous month along with a check or direct deposit for the Homeowner’s portion of the Net Rental Fees plus any associated Hotel Occupancy Taxes collected during such month. Net Rental Fees are defined as all Rental Fees after deduction of all booking site fees, online travel agency (OTA) commissions, and credit card fees. The following items are not included in Rental Fees and will be withheld from Homeowner’s monthly distribution: Pre-cleaning fees, stocking expenses, maintenance expenses, product processing fees, Homeaway listing fees, and any other compensation or reimbursement Company is entitled to receive under this Agreement. The Homeowner is not entitled to the following items which are collected directly from guests: Booking fees, administrative fees, cleaning fees, and reimbursement for any expenses incurred by the Company as a result of guest damage. A refundable reservation/damage deposit in the amount of $2,000 or 20% of the Rental Fee (whichever is higher) will be collected from each guest at the time of booking and/or Company will cover each rental with Property Damage Protection insurance with minimum $1,500 coverage. Guests will not be permitted to check in to the Property until insurance coverage is purchased and/or damage deposit is received. Homeowner or a specified representative has ten (10) days after guest departure date to notify Company of any and all damages. Homeowner agrees to document with photographs and receipts any repairs or replacements made to Property as a result of damage by a guest. Homeowner grants Company permission to return full reservation/damage deposits to guests should Homeowner or a specified representative fail to report back within ten (10) days of the guest departure date. Damages not documented with photographs and receipts will not be covered by damage insurance or withheld from guest damage deposit. Items less than $50 in value will not be claimed under insurance or withheld from guest damage deposit and will be the responsibility of the owner, as described in Section 10. If guest initiates a credit card chargeback or dispute through their credit card company and/or bank, that income is immediately seized by the payment processor and all income associated with the chargeback/dispute will not be distributed until the chargeback/dispute is resolved in the Company’s favor. Company agrees to make all reasonable efforts to win every chargeback/dispute, but Homeowner understands that these chargebacks or disputes are sometimes lost and will not hold the Company responsible for uncollected funds. Any cancellation fees collected from guests as a result of cancellation policy enforcement is treated as ordinary Rental Fees, taxes, cleaning fees, etc as they were invoiced to guest. IRS regulations require Company to collect IRS form W-9 from all property owners. The Company does not provide tax advice. Please consult your CPA and/or qualified tax advisor for information specific to your situation. The Company makes absolutely no guarantee to Homeowner about the amount of Rental Fee income Homeowner may anticipate receiving under this Agreement. Earnings Projections represent absolutely no guarantee.
6. PROTECTION PERIOD: If Homeowner executes a Guest License Agreement or similar form of agreement for the Property within one year of termination of this Agreement to someone who has previously signed a Guest License Agreement for the Property, Homeowner will, at the time Homeowner executes such agreement, pay Company the amount of the Company Fee that Company would have been entitled to receive under this Agreement. This paragraph 6 survives Termination of this Listing Agreement.
7. OWNER REFERRAL PROGRAM: If Homeowner refers Company an individual or group that enters into a Guest License Agreement for the Property, Company agrees to reduce Company Fee to ____% for only that Guest License Agreement.
8. EVENTS: Any events will be properly permitted in accordance with city and state ordinances. Event terms will be presented to the Homeowner and agreed upon in writing before event fees are collected from the guest. Homeowner agrees to pay company _____% of all Event Fees collected from guests.
9. COMPANY’S AUTHORITY: Company will use reasonable efforts and act diligently to market the Property for short term rental, procure guests, and negotiate the Guest License Agreement (“Rental Agreement”) for the Property. Company will not openly display the address of the Property on the Internet. Company is authorized to display this Property on the the Company’s website, other websites owned by Company, websites which the Company has the contractual right to use, and other websites specifically used for short term rental home advertisement. Company is authorized to use the property’s likeness in the form of photographs, virtual tours, and any other visual materials for general promotional purposes. Company is directed to make authorized deductions and offsets from rental income for Company’s compensation, reimbursements, and other authorized purposes or as directed by Homeowner. Company may arrange for contractors to make necessary repairs or alterations to the Property in the best interest of the Homeowner. If costs of such repairs or alterations are expected to exceed $250, Company will contact the Homeowner to receive authorization in writing. An email or text message is sufficient consent to authorize such action. Homeowner expressly authorizes Company to use Company’s industry experience and knowledge to act in the best interest of the Homeowner at all times, including in determining appropriate guest refunds. The Homeowner expressly authorizes the Company, at the sole determination of the Company, to act in the event of an emergency without first contacting the Homeowner. If, at the sole determination of the Company, there is an emergency requiring immediate repairs that exceed the limits described herein, the Homeowner expressly authorizes the Company to make such required repairs to mitigate future damages, loss and expense at which time the Company will obtain written authorization as described herein. However, the total cost of repairs or alterations may not exceed $1,000.00 in a single instance unless Homeowner consents to an amount that exceeds this limit. This discretion includes any repair necessary to protect guest health, safety and basic comfort and well being, reasonably affected or reasonably likely to be affected. Homeowner authorizes Company to deduct any and all expenses incurred for such repairs as allowed under this Agreement from monies due Homeowner received from reservation/damage deposits and Rental Fees as allowed under this Agreement. Homeowner authorizes Company to on a biannual basis contract for a “deep clean” of the Property at Homeowner’s expense.
10. HOMEOWNER RESPONSIBILITIES: Homeowner accepts full responsibility for insuring the Property and its contents and contacting their insurance provider to confirm appropriate coverage. By executing this Agreement, Homeowner represents that they have obtained necessary permits, licenses or similar jurisdictional requirements with the city, county, association or other entity who may have jurisdiction over the Property and are authorized to list the Property as a short-term rental. Homeowner agrees to give Company a 30-day written notice of Homeowner’s intent to place the Property on the real estate market for sale or rent. Homeowner agrees to contact the Company if the Property is altered significantly enough that the photographs are deemed by a reasonable person as no longer representative of the actual furnishings or decorative style of the Property. Homeowner agrees to remove or secure jewelry, prescription drugs, other valuables, firearms and any other weapons, and expressly acknowledges that Company has no liability for theft of any of the Homeowner’s valuables or any item in the Property. Homeowner understands that the Company and its representatives are not responsible for damage to high value items such as unique designer furniture, antiques, or items with high sentimental value, and Homeowner agrees to remove any high value items from the Property. Homeowner agrees to honor all bookings of the Property without modification, except by agreement of the parties in writing. Unless a guest or booking specifically violates guidelines previously set forth in writing by the Homeowner, Homeowner agrees to honor all bookings for all guests. Homeowner agrees to provide two (2) or more sets of all linens and towels available to Company at the property. If Homeowner wishes to have any items other than bed sheets, pillowcases, duvet covers, and towels changed and washed after check out (ex. mattress pads, comforters), Homeowner agrees to have an extra set of these items on hand. Company will wash all linens and towels used during rentals. This includes, sheets, duvet covers, towels, and pillowcases. If Homeowner would like additional items washed between rentals, such as mattress pads or comforters without covers, Homeowner agrees to additional laundry fees. Homeowner agrees not to enter the Property during guest’s occupancy without providing 24 hours prior written notification to Company. Homeowner agrees to notify the Company of any changes in availability of the Property in writing immediately, or to use the available Owner Portal on the Company’s website to reflect such changes. Homeowner agrees to make available at least 30 days for rental in every calendar year. If property photos are needed, Company will make the necessary arrangements for property photography and the photos will be the property of the Homeowner. The cost of the photos will be withheld from the Homeowner’s first distribution. Homeowner agrees to reimburse the Company for any outstanding expenses after 3 months if no rental income is generated from which expenses may be withheld. Company will be the sole provider of cleaning services before a guest arrival and following a guest departure. Homeowner agrees to not return to the Property until after the Property has been professionally cleaned, unless notice is given to a Company representative. Homeowner understands and expects to incur annual FF&E (Furniture, Fixtures, and Equipment) expenses of operating a short term rental equal to 5-10% of annual rental income. These expenses do not include normal stocking items to service each booking.
11. HOMEOWNER REPRESENTATIONS: Homeowner represents that it has the fee simple title to and peaceable possession of the Property and all the improvements and fixtures except those that may be rented, and the legal capacity to encumber the Property and may be required to provide proof to Company before execution of this Agreement. Homeowner represents that it has the legal right to enter into this Agreement and that this Agreement is the valid and binding on the Homeowner. Homeowner represents that no Homeowners Association bylaws or policies are being violated by this Agreement. At all times, Homeowner agrees to maintain Property in a clean, well-maintained, safe manner for guests. Company reserves the right to refund a portion or all of the paid Rental Fee to satisfy a valid Guest complaint against actions of the Homeowner, the condition of the Property, or for any other reason at the sole discretion of Company. In the event that a refund is remitted to a guest, Company may withhold from the Rental Fee due to the Homeowner a pro rata share of the refund. Company will only refund a portion or all of the Rental Fee, on which Company’s commission is calculated, which therefore requires that Company share in any refund given. Homeowner represents that it is not bound by any agreement with another party for the sale, exchange, or lease of the Property that is or will be in effect during this Agreement. Any pool or spa and any required enclosures, fences, gates, and latches comply with all applicable laws, building codes, and ordinances. No person or entity has any right to purchase, lease, or acquire the Property by an option, right of refusal, or other agreement. Homeowner is current and not delinquent on all loans and all other financial obligations related to the Property, including but not limited to mortgages, home equity loans, home improvement loans, Homeowners association fees, and taxes. All information relating to the Property Homeowner provides to Company is true and correct to the best of Homeowners knowledge. Homeowner is not aware of any condition concerning the Property that would materially affect the health or safety of an ordinary guest.
12. LIMITATION OF LIABILITY: The Renters Club requires the Owner to maintain general liability insurance as well as coverage of the Property and its contents and provide certificates of said insurance to The Renters Club that will cover the activity of short term rental of the Property. Company is not responsible or liable in any manner for personal injury to any person or for loss or damage to any person’s real or personal Property resulting from any act or omission not caused by Company’s negligence, including but not limited to: injuries or damages caused by other persons, their associates, inspectors, appraisers, and contractors who are authorized to access the Property; other persons or their associates that may have information about the Property on their website; acts of third parties (for example, vandalism or theft); freezing water pipes; a dangerous condition on the Property; the Property’s noncompliance with any law ordinance; or Homeowner’s negligence, gross negligence or wilful misconduct. Homeowner agrees to protect, defend, indemnify, and hold Company harmless from any damage, costs, attorney’s fees, and expenses that are related to or arise out of: (a) Homeowner’s negligence, gross negligence, fraud, intentional acts, willful misconduct; (b) Homeowner’s failure to disclose any material or relevant information about the Property; or (c) Homeowner giving incorrect information to any person. Company is not responsible for any damages or personal injury on Owner’s Property and Homeowner agrees to indemnify Company in any action related to the Property. Guests assume all responsibility while they are on Property, as stated in the Guest License Agreement. Company is not responsible for costs of damage to the Property by guests. The Company is not responsible for costs of replacement or repairs for any damages to Property or contents. Company is not responsible for inventory of contents or replacement of missing items on Property.
13. DEFAULT: If Homeowner breaches this Agreement, Homeowner is in default and will be liable to Company for the amount of the Company’s compensation specified in Section 3 and any other compensation Company is entitled to receive under this Agreement. If any bookings are displaced by Homeowner’s breach of this Agreement, each displaced booking will carry an additional $250 displacement fee.
14. MEDIATION: The parties agree to negotiate in good faith in an effort to resolve any disputes related to this Agreement that may arise between the parties. If the dispute cannot be resolved by negotiation, the dispute will be submitted to mediation. The parties to the dispute will choose a mutually acceptable mediator and will share the cost of mediation equally.
15. ATTORNEY’S FEES: If either party is a prevailing party in any legal proceeding brought as a result of a dispute under this Agreement or any transaction related to or contemplated by this Agreement, such party will be entitled to recover from the non-prevailing party all costs of such proceedings including reasonable attorneys fees and costs of litigation.
16. AGREEMENT OF PARTIES: ENTIRE AGREEMENT: This Agreement is the entire Agreement of the parties and may not be changed except by a writing signed by both parties.
17. BINDING EFFECT: Homeowner’s obligation to pay Company the Company Fee is binding upon Homeowner and Homeowner’s heirs, administrators, executors, successors, and permitted assignees.
18. JOINT AND SEVERABLE: If the Property is owned by multiple owners executing this Agreement, such owners are jointly and severally liable for the performance of all its terms.
19. SEVERABLE CLAUSES: If any court finds any clause in this Agreement invalid or unenforceable, the remainder of this Agreement will not be affected and all other provisions of this Listing will remain valid and enforceable.
20. CONTROLLING LAW: This Agreement shall be construed under the laws of the State of Texas. The parties agree that proper venue is Travis County, Texas.
21. NOTICES: Any notices between the parties must be in writing and are effective when sent to the receiving party’s address or email address as specified in Section 1.
22. ADDITIONAL NOTICES: Fair housing laws require the Property to be shown and made available to all persons without regard to race, color, religion, national origin, sex, disability, or familial status. Local ordinances may provide for additional protected classes. In the event the collection of Rental Fees or an eviction of a guest shall become necessary, all collection or eviction expenses shall be Homeowners responsibility, including attorney fees.
23. ADDITIONAL PROVISIONS: This Section 23 contains any additional provisions that the Company and the Homeowner have agreed to that are not addressed in the foregoing provisions of this Agreement. To the extent that any additional provisions contained in this Section 23 conflict with any other provision of this Agreement, the additional provisions contained in this Section 23 shall control.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth below.
Company’s Associate’s Signature Homeowner’s Signature
Company’s Associate’s Printed Name Homeowner’s Printed Name