VACATION LODGING ASSOCIATION, INC.
Suggested Form No. 6
Pigeon Forge Cabins and Resorts L.L.C.
130 Waldens Main St.
Pigeon Forge, TENNESEE 37863
THIS AGREEMENT made and entered into on this the _______ day of ___________________, 20___, by and between Pigeon Forge Cabins and Resorts L.L.C., hereinafter referred to as “Company”, and
Owner(s) of Record
Street Address: ___________________________________________________________
City: ___________________ State: ______________ Zip:_______
Res. Phone: _________________ Business Phone:______________
Tax I.D. Number or
Social Security Number(s)________________, _______________,
Jointly and individually referred to as “Owner”.
WHEREAS, the Owner wishes to engage the services of the Company as exclusive rental manager to offer Owner’s property for nightly rentals and vacation lodging;
WHEREAS, the Company agrees to advertise and promote the Owner’s property for nightly rentals and vacation lodging;
WHEREAS, the maintenance of the good will of all renters and prospective renters of Owner’s property shall be considered a paramount objective of both parties.
THEREFORE, in consideration of the terms, conditions, and mutual covenants herein set forth, the parties agree as follows:
As used in this Agreement the following definitions
a. “Rental Unit” means the Owner’s property located at _______________________, Unit No(s). ____, ____, within the City of ________________, County of _______________, State of Tennessee, (hereinafter referred to as “Unit”) together with an undivided use of the common elements appurtenant thereto within any horizontal property regime.
b. “Net Rental Income” means gross rental income less Company commissions and other charges as herein defined.
c. “Tenant” means any person other than the Owner or the Owner’s immediate family who rents the Unit pursuant to the reservation policies herein established.
2. RENTAL MANAGER:
The owner hereby retains the Company as the sole and
exclusive rental manager for the purpose of renting their property (as herein described) to others for nightly rentals and vacation lodging; and the Company agrees to act as such rental manager subject to the terms and conditions herein established.
The initial term on this Agreement shall be for twelve
(12) months commencing on the date of this Agreement. This Agreement may be terminated by either party prior to the expiration of the term of the Agreement by delivering thirty (30) days written notice prior to such termination; provided, however, that the time within which the Company must surrender the Unit to the Owner may be extended by a reasonable period not to exceed thirty (30) additional days if this extension is reasonably necessary in order to allow the Company sufficient time within which to transfer existing reservations.
The Company will mail a renewal form to the Owner
prior to the expiration of the one year term of this agreement. The Owner will be required to execute this renewal form in order to enter into a new rental agreement for a new term.
5. RENTAL SERVICES:
a. The Company agrees that it will maintain and operate a rental program offering quality lodging facilities.
b. The Company agrees that it will advertise and promote its vacation lodging business.
c. The Company agrees that it will maintain a trust account as required by state law.
d. The Company agrees that it will maintain an accounting system designed to report and administer monthly disbursements of rental received from the Owner’s Unit, will invoice each tenant for all monies due, and attempt to collect any unpaid accounts.
e. The Company agrees that it will submit a detailed monthly statement along with a disbursement of the Owner’s net rental income reflecting any expenses incurred or credits due as hereinafter described during the monthly rental period on or before the 15t business day of the subsequent month. This statement will include all dates that the property was rented and an itemized accounting of all expenses incurred or credits owing during the rental period.
f. Forfeited deposits will be disbursed as rental income pursuant to the terms of this Agreement. Provided, however, that if a Unit upon which a deposit has been forfeited is re-rented by the Company during the term for which a deposit has been forfeited and disbursed as rental income, then the Company shall retain all proceeds of the re-renting during such term to reimburse the Company advertising and marketing expenses.
g. The Company agrees that it will assist the Owner in maintaining the property in a good state of condition and repair by informing the Owner when special cleans are due or repairs and maintenance are required.
h. The Company will not accept any goods or services in return for allowing a customer to occupy the Owner’s Unit.
6. OWNER RESPONSIBILITIES:
a. The Owner agrees it will maintain the property in a state of good condition and repair; and will provide all necessary furnishings required for use of the Unit as a nightly rental or vacation lodging including, but not limited to, a toaster, blender, coffee maker, telephone, television, cooking utensils, pots, pans, dishes, drinking glasses, cutlery, flatware, bedding spreads, window dressings, and fireplace accessories; provided, however, that the Owner will provide all linens if required by the Company.
The Owner agrees that the Company will have the right to replace missing items, and/or items that are substantially damaged or unsuitable for use; and deduct the cost for such items from the Owner’s net income on subsequent monthly statements or to invoice the Owner directly for such cost. The Owner will first be notified by the Company if the cost of any item or repair should exceed Three Hundred ($300.00) Dollars with the exception of repairs to the HVAC, electrical or plumbing systems if the Unit is occupied.
In the event that the Owner is unavailable for approval of necessary repairs or replacements, then the Owner agrees that the Company may make any such repairs or replacements that render the Unit unsuitable for use as vacation lodging or that could cause harm to a tenant or the property and deduct the cost for such items from the Owner’s net income on subsequent monthly statements or invoice the Owner directly.
b. The Owner agrees to compensate the Company
for any major cleanings as deemed necessary by the Company in order to maintain a desirable standard for attracting return guests for the Owner’s Unit. The fees for such cleanings will be the Company’s cost. These charges will be deducted by the Company from the Owner’s monthly income on subsequent monthly statements or invoiced directly to the Owner.
The Owner agrees that drapes, spreads, carpeting, and chimneys will be cleaned when deemed necessary by the Company at the Company’s cost and that such charges will be deducted from the Owner’s net income on subsequent monthly statements or invoiced directly to the Owner.
c. The Owner agrees that the Company will be
Reimbursed for all miscellaneous costs relating to the rental of the Owner’s Unit, including but not limited to, any outstanding maintenance charges, costs of firewood, charges for credit card transactions (1.5%), and gross receipt taxes, and that such costs will be deducted from the Owner’s net income on subsequent monthly statements or invoiced directly to the Owner.
7. SALE OF PROPERTY:
In the event that the Owner intends to sell the
Unit, the Owner will advise the Company in writing not less than 10 days prior to listing the Unit for sale.
Owner agrees and grants unto the Company the right to:
a. Require all sales agents or other persons
wishing to inspect the Unit to apply through
the business office of the Company before
entering the Unit, and to sign and make
deposit for the keys.
b. Prohibit the inspection or entrance into the
Unit when the Unit is rented and for a period
not to exceed twelve (12) hours prior to the
arrival of a registered guest.
c. Require all keys to be returned on the day
issued through the business office of the
The Owner further agrees to notify the company in
writing of the impending closing of such sale at least thirty (30) days prior to such closing.
8. UNIT RENTAL:
130 Waldens Main St.
Pigeon Forge, TN 37863