Paradise Vacation Rental Management, LLC

PROPERTY MANAGEMENT AGREEMENT Paradise Vacation Rental Management, LLC

THIS AGREEMENT, for the property: ______(hereinafter referred to as the “Unit”) is made and entered into this ______day of ______, 20__ by and between Paradise Vacation Rental Management, LLC (hereinafter referred to as the “Agent”) and ______(hereinafter referred to as the “Owner”), upon the following terms and conditions:

(1) TERM

A This agreement shall commence and be effective upon the last date signed by the parties and continue for a duration of twelve months from such date, but not less than one full calendar year, whichever is longer, or unit cancelled in accordance with paragraph B below. B. This agreement may be terminated by either party upon the giving of (30) day's written notice to the party; however, Owner agrees to honor all future reservations in place and confirmed by Agent, and pay such commissions and fees as may be due from such reservations, at the time of contract termination, as set out herein.

(2) AGENT'S RESPONSIBILITIES

A To furnish the services of its Property Manager for the rental and leasing of the unit in conformance with applicable law and the written Rental Policy, a copy of which is attached hereto. Agent agrees that it shall not modify, change or deviate from the Rental Policy without the prior consent of Owner. Agent shall strictly enforce such Rental Policy against occupants. B. To inspect the Unit and have the necessary cleaning and repairs performed after each occupancy. Such inspection shall involve checking the unit's inventory (excluding small kitchen items such as utensils, dishes and glassware) for theft, loss, or damage by occupant. C. To hire cleaning services and/or other professional services as necessary. Agent is authorized to spend up to $150.00 for emergency services without consulting Owner. In the event services exceed this amount, Agent will seek Owner's permission, unless the problem constitutes an immediate hazard to health or life., Agent shall inform Owner of the amount and purpose of all expenditures made by Agent as soon as practically possible.. D. To use its best efforts to collect rents due, but under no circumstances shall Agent be liable to Owner for uncollected rents for any reason, including, but not limited to credit card "charge-backs" or funds uncollected due to bad checks or fraud. Nothing contained in this agreement shall be construed to obligate Agent to engage the services of a collection company or institute any kind of legal proceedings for the purpose of collecting unpaid rents. E. To keep an accurate record of occupancy and to issue monthly statements of receipts, expenses and management fees, and to remit amount to Owner by the 15th of each month. Agent's books and records relating to Owner's property shall be open for inspection by Owner at all reasonable times upon reasonable notice. F. Agent will be responsible for coordinating and implementing payment of all state licensing fees at Owner's expense. G. To provide advertising through our website,, online, direct mailing and other venues recommended by our marketing department. H. To use due diligence and care in carrying out the duty, authority and power conferred upon it by this Agreement. I. To maintain all rents collected in an bank account on behalf of Owner until the monthly disbursements are made,. Agent may commingle the funds in the bank account with those of other owners of properties managed by Agent.

(3) OWNERS RESPONSIBILITIES

A. To notify Agent in advance of Owner's desire for occupancy by making an owner reservation and to honor any reservations made prior to notice by Owner. Owner shall be subject to the same check-in and check out times and procedures as other guests who rent the Unit from Agent, and shall be responsible for paying Agent cleaning and linen fee. B. To provide Agent with an accurate inventory and replace items as needed. C. Owner agrees to clean/shampoo carpets as necessary and to repaint as necessary in Agents opinion, to maintain Unit in good condition. Failure by Owner to approve any item of maintenance, replacement, or repair recommended by Agent within fifteen days of such recommendation shall constitute a default of this Agreement. D. Owner agrees to a mandatory yearly deep clean to be performed during the off-season. E. Owner agrees to have mattress pad and bedspread cleaned on a yearly basis and/or as needed based on Agent's sole discretion. F. Owner agrees to pay pest control and waste management services to keep the Unit free from insects and in a healthful condition. Owner agrees to allow Agent to increase trash service to bi-weekly occurrence during high season, understanding that this may increase the service fee during this period of time. G. Owner shall, at Owner's expense, maintain in effect both property damage insurance and premises liability insurance. The property insurance shall be in an amount equal to the replacement cost of the Unit and its furnishings. The premises liability insurance shall be in a minimum amount of three hundred thousand dollars ($300,000) for each occurrence. H. Under state regulations perishable items cannot be left in the home while being rented. Owner will need to provide a locked closet for all personal items to be stored when checking out of their unit/home. I. Owner will provide Agent with a list of Owner approved vendors/subs for specific maintenance or repair on Owner's Unit. Owner agrees if a written list is not provided to Agent, Agent will have full rights to select any vendors/subs that they might see fit to maintenance or repair Owner's Unit (see attachment). J. Owner agrees to keep the Unit furnished in a manner acceptable to Agent in its sole discretion. Such furnishings shall include, but not be limited to, appropriate furniture in each room to accommodate the number of guest which the Unit sleeps, pillows, blankets, appliances, and kitchenware (i.e. plates, glasses and silverware).

(4) FEES

A. For the rental of the Unit, Owner agrees to pay agent 15% of the gross rentals collected as a management fee. B. In the event of Owner referrals, when the Unit is rented through the Owners own efforts, Owner agrees to pay Agent 5% of the gross rentals collected. C. In the event Owner agrees to have Agent manage multiple Units for Owner, Agent will negotiate rate based on actual number of Units managed by Agent. D. The Owner shall provide a minimum reserve amount of $400.00 or such other amount as is mutually determined as appropriate, which shall be due upon execution contract to cover monthly pest control, utilities, and any emergency repairs. E. Agent agrees that Owner can modify their rental fee at any time. Owner agrees that only written modifications to rental fee will be accepted by Agent and all existing reservations will remain at the rate they were created unless otherwise specified at time of rate change. F. Owner understands that Agent will be charging tenant additional fees which include but are not limited to a Reservation Fee, Damage Wavier Fee, Cleaning Fee, Linen Fee, Travel Insurance, and Taxes. (5) GENERAL UNDERSTANDINGS

A. Owner understands that rental properties are subject to abnormally accelerated wear and tear due to the individual responsibility of each tenant. Breakage, theft and damage will occur over a period of time and Agent will not be held responsible for acts of others. B. The $50.00 non-refundable damage wavier will be used for all accidental damages done to your home. This will not include Pet Damages, Carpet Cleaning (for normal traffic, minor spills or wear and tear), Charcoal/Gas Grills or Vertical Blinds. In the event of significant or deliberate damage, Agent will reimburse the owner the cost of the Homeowner Insurance Deductible up to a maximum of $500.00. All claims for damages must be substantiated by an actual estimate of repair by authorized vendor. Owner will incur all costs over $500.00. C. Either party shall have the right to set off amounts payable to this Agreement against amounts owed to it by the other party. Agent shall not deduct amounts owed to it by Owner from net rental proceeds unless Owner instructs Agent to do so. D. This Agreement may be assigned by Agent only with the prior written consent of Owner. E. Agent shall not be responsible for damage due to storms, cold weather, and other acts of nature, vandalism or theft. F. Owner realizes that damage by a tenant can far exceed any deposit collected by Agent. In this event, Owner must at his own expense pursue any legal action needed to remedy. G. Agent will make every effort to rent the Unit as often as possible; however the level of occupancy cannot be assured. Some units are more desirable to tenants than others and consequently will experience a better rental record. H. Owner hereby indemnifies Agent from any liability, loss, damage, cost or expense, including attorney fees and judgments arising from injury to person or property, sustained by anyone in connection with the rental of the unit not caused by the gross negligence or willful conduct of the Agent or its employees or representatives. Owner shall maintain a policy of liability insurance coverage for personal injury and property damage occurring on the Unit, which policy shall be made available to Agent upon signing of rental agreement I. The Agent shall not be liable to the Owner for any act or omission of the Agent, its officers, agents or employees in the performance of its duties hereunder except such as result from fraud or gross negligence. In addition, the Agent specifically disclaims and Owner does hereby release Agent from all liabilities and damages for which Owner or any other person may be insured or otherwise indemnified against or compensated by any policy of insurance carried by the Owner or any other such person. J. Owner agrees not to rent their Unit themselves for income while being managed by Agent. In the case that this occurs, the contract will be considered VOID. K. Owner agrees that they will not perform any owner cleans during High Season and that owner cleans, during the Low and Mid Season, will be subject to the same inspection and approval process that subcontract cleaners adhere. L. A cleaning service will be utilized for all occupancies, including owner and owner guests, and charged at the established rate for the Unit.

(6) ACCOMMODATIONS

A. The maximum number of occupants, infants not included, shall be ______persons. Agent shall not rent the Unit to persons under 25. Agent shall not rent to groups of college students unless permission is granted by Owner. B. Pets will not be accepted unless permission granted by Owner. Please indicate which you prefer. If pets are permitted, please indicate the dollar amount for pet fee you will accept. Note: Owner will receive entire pet fee paid by tenant less $25 for additional cleaning f e e charged by contract cleaning service. If unit is not pet friendly and Owner brings pets into the Unit, this needs to be noted in the system for guest information.

_____PETS PERMITTED _____NO PETS

$______PET FEE (IF PERMITTED)

C. Please indicate if you would like to provide your unit for promotional Giveaways or Charity Event:

YES ______NO ______

D. Please indicate if you would agree to a "last minute" (with-in 24 hours of arrival) discount of 25%:

YES ______NO ______(7) SEASONAL RATES (without fees):

A. LOW SEASON: Week: $______Month: $______(September 5 t h -December 18th)

B. MID SEASON: Week: $______Month: $______(May 1st -September 4th)

C. HIGH SEASON: Week: $______Month: $______(January 2nd -April 30th)

D. THANKSGIVING WEEK $______(November 23rd -November 29th)

E.. CHRISTMAS WEEK: $______(December 19th –December 26th)

F. NEW YEARS WEEK: $______(December 26th -January 2nd)

(8) RENTAL ACCOMMODATIONS:

A. Weekly Rental (please select which applies): a. Friday to Friday __ b. Saturday to Saturday ___ c. Sunday to Sunday ___

B. Minimum Night Stay ______

(9) HOMEOWNER INFORMATION: Unit Name: ______

Unit Phone Number: ______

Unit (911) Address: ______

Homeowner: ______

Address: ______

Home Phone Number: ______Work Number: ______

Cell Number: ______

Fax Number: ______

Email Address: ______Number of Keys given to PVRM: ______

Access to Owner’s closet: ______

Emergency Number: ______

*Copy and complete this section for all owners if Agent is to split Income and Expense

(10) MAINTENANCE PROGRAM: Please indicate if you would like to participate in our Maintenance Program for a monthly fee of $25.00 (See the attached documentation for details)

YES ______NO ______

(11) DIRECT DEPOSIT: Please indicate if you would like to participate in our Direct Deposit Program

YES ______NO ______

(12) UTILITY BILLS:

Please list the utility bills and account information that you would like Agent to pay on your behalf (Yes or No):

Pest Control: Account # Waste: Account # Cable: Account # Electric: Account # Phone: Account # Water: Account # Satellite: Account #

Signature: ______Date: ______

Social Security Number: ______Signature: ______Date: ______Social Security Number: ______(13) PROPERTY INFORMATION PAGE

Address of Property ______Unit Phone Number/Phone Provider:______Square Feet: ______Year built/Remodeled ______Number of Bedrooms______Bathrooms______Bedding arrangements (example king, queen): Bed 1______Bed 2______Bed 3______Bed 4______Other (pull out – size)______Association Name______Association Contact Info. ______Parking Instructions______Location of Trash ______Alarm: YES or NO Alarm Company: ______Alarm Code: ______Abort Code: ______Wireless Internet YES or NO If yes, what is the sign in and password: ______Phone Provider ______TVR# (homes only)______Location of Water Shut off ______Location of Electrical Box______Condo Association Pest Control Company (if any) ______Pest Control Done through the association: Inside ______Outside ______Services Provided by Association: ______Warranties on Appliances ______Safe? ______Combination ______Is there a key override? ______

ACCEPTED BY:

______Paradise Vacation Rental Management Date Owner Approved Vendor/Sub-Contractor List

Warranty Vendor Vendor Number Warranty Expiration

Y _ _ _ HVAC N ______

Y _____ Plumbing N ______

Y _ _ _ Electrical N______Y _____ Appliance Repair N ______

Y _____ Roof Repair N ______

Y _____ Elevator N ______

Pool/Spa Y _____ Maintenance N ______

Y _____ Carpet Cleaning N ______

Y _____ Other: N ______

Y _____ Other: N ______Maintenance Program

The following items will be provided to you on an as needed basis for a monthly charge of $25.00:

 Refilling of propane tanks (does not include cost of gas)  Removal of excess garbage  Vacuum cleaner bags  Vacuum cleaner belts  Light bulbs  Smoke detector batteries  Remote control batteries  Shower curtain liners  Drip pans and oven liners for stove  Replacement of small kitchen items such as: coffee pot, toaster, electric can opener and blenders (replacement items will be PVRM supplied only)  A/C filters (once a month)  Unclog toilets and bath tubs  Checking breaker boxes and fuses  Troubleshooting phone, cable, electric, plumbing, appliances (prior to repair referral)  Insect spray

Please sign and date below if you are going to be enrolling in our Maintenance Program .

Name of Rental Property

Address of Property

Owner signature and date

Owner signature and date Direct Deposit Form

Name on Bank Account:______

Bank Name: ______

Bank Routing #: ______

Bank Account #: ______

Checking [ ] or Savings [ ]

Signature: ______

Date: ______

Condo Number: ______

Print Name: ______