Exclusive property management agreemet

(a) Services. (i) TBVH shall provide property management services normally rendered in the care and management of the above Unit. Including #NUMBER (XX) inspections per month with emailed reports with photos. (ii) The service of mail reception at TBVH’s office address; (iii) management of utilities – according to the XXX package plan chosen.

(b) Inspection Description: Each inspection conducted will include:

• • Verify that all doors and windows are properly secure;
• • Visual inspection for signs of insects and rodents;
• • Visual inspection for signs of mold and mildew;
• • Visual inspection through the interior and exterior of the property;
• • Run faucets, sinks, disposals and flush toilets;
• • Check for evidence of water leaks (ceiling, faucets, toilets, etc);
• • Check if subcontract services were provided accordingly;
• • IMMEDIATE reporting to Owner of any abnormalities found.

(b) Statements. TBVH shall release up to the 10th day of every month, a statement of expenditures made during the preceding calendar month. The statement will set forth the management monthly fee, pool cleaning fee and all other costs referred to in the period. 

(c) Maintenance Services. TBVH will provide services to assist the Owner in the cleaning, maintenance and repair of the Unit. Charges for these services will be added to Owner’s monthly invoice. Minor maintenance services as replacement of batteries, lightbulbs in reach and filters are part of the management service. However, the cost of the items will be charged separately.   

(d) Subcontractors. TBVH has the right to hire employees and subcontractors’ necessary for the maintenance, preservation and protection of the Property. TBVH shall not be required to arrange for bonding of employees or subcontractors who provide such services. However, TBVH agrees that all employees of TBVH who will be handling cash on behalf of TBVH or Owner shall be covered under a surety bond. Owner shall reimburse TBVH for all payments made on behalf of Owner pursuant to this Agreement. Further, Owner holds TBVH harmless for non-payment of all Owner-related charges and invoices due. 

(e) Maintenance & Repair. Owner authorizes TBVH to make, at Owner’s expense and without prior approval, any emergency repair involving danger to life or property or the safety of persons occupying the Unit. If the cost to repair or replace any item(s) at any one time exceeds U$500.00 (Five Hundred U.S Dollars), TBVH will notify Owner explaining the action to be taken and costs. Owner must notify TBVH about any warranties, contact information for the insurance company and contact information for any recurrent service already in place at the property.

(f) Sale of the Unit. If Owner intends to sell or otherwise transfer ownership of the Unit, it will be considered a termination of the contract and Owner must notify TBVH in writing or electronic email of Owner’s intention not less than 30 days of the closing date of the sale, after such date TBVH will not be responsible for the management of the property.

(g) First Time Inspection. It is the owner’s responsibility to conduct a thorough inspection of the property prior to the start of the management service and from time to time thereafter as the owner feels necessary or upon written request by TBVH. Initial inspection by Owner shall include but not limited to inspecting the electrical, plumbing, sanitary, heating and ventilating facilities, smoke detectors, appliances, utilities, kitchen supplies, and other furnishings, equipment and systems.

(a) Initiation Process Fee. Owner agrees to pay a one-time Fee of $XX to TBVH upon signing the Agreement for Initiation Process. TBVH will be responsible for (I) management of all utility bills and the setup of such bills for auto-pay, (ii) 1 technical inspection, (iii) walk through visit of the property with Landlord (guided visit); (iv) search and hiring of all needed subcontractors; (v) warranties check list and (vi) initial inspection with photo report. 

(b) Initiation security deposit. WAIVED

(c) Property Management & Rental Fee. Owner also agrees to pay for monthly fixed management fee of U$ XX.00 (XX U.S. Dollars) on every 10th day of the month. Any amounts payable by Owner which are not paid when due shall accrue interest at the rate of one and one – half percent (1 ½%) per month (or the highest permissible rate under applicable law) until paid in full by Owner. 

This Agreement contains the entire agreement of the parties and super cedes all prior written and oral proposals, understandings, agreements and representations, all of which are merged herein. No amendment or modification to this Agreement shall be effective unless it is in writing and executed by all parties here to.

(a) A breach is an absolute duty to perform and that duty has not been performed or has been performed inadequately or improperly. The non-breaching party must show that they are willing and able to perform, but for the breaching party’s failure to perform. A minor breach is when the non-breaching party receives a substantial part of the bargain despite the breaching party’s defective performance. A material breach is when the non-breaching party does not receive the benefit of bargain.

(b) If any Party commits a Material Breach of its obligations under this Agreement, any other party may terminate this Agreement by giving the breaching party thirty (30) days written notice, except that any such notice will not result in termination if the breaching party cures that breach before the thirty-day period (30) elapses, unless otherwise provided for in this Agreement.

(c) Either party may terminate this Agreement without cause. This Termination must be in writing through mail or electronic email. Upon termination, Owner agrees to promptly reimburse TBVH for all outstanding charges for maintenance and repairs, including but not limited to any monthly maintenance fees due under a separate maintenance agreement. TBVH may also terminate this Agreement immediately for cause upon the occurrence of the following events:

• (i) Owner's bankruptcy or insolvency or the appointment of a receiver for Owner;
• (ii) The institution of eminent domain condemnation proceedings by a governmental authority;
• (iii) Owner's failure to pay any amounts due TBVH;
• (iv) Foreclosure proceedings are instituted against Owner and/or the Property;
• (v) Owner's transfer of ownership to the Property to a third party;
• (vi) Owner's failure to pay insurance or taxes or failure to provide TBVH with proof of payment of insurance or taxes;
• (vii) Owner's death or a disability, which renders the owner incapable of complying with the terms of this Agreement.

(d) Owner May terminate this Agreement for cause upon the following events:

• (i) TBVH’s bankruptcy or insolvency; and
• (ii) A material breach of this Agreement on behalf of TBVH.

(a) If Owner terminates this Agreement prior to the agreed upon duration for reasons not considered to be for cause as defined in Section 11(c), any outstanding invoices will be taken out of the security deposit, and all the remaining monthly management fees will be due. If after paying any outstanding invoices or if all invoices are current, the balance of the security deposit will not be applied to the remaining monthly management fees, and will be forfeited.

(b) If TBVH terminates this Agreement prior to the agreed upon duration of this Agreement prior to the agreed upon duration for reasons nor considered to be for cause as defined in Section 11(d), Owner will be entitled to the refund of their security deposit (after any outstanding invoices are paid).

Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgment upon the award by the Arbitrator(s) may be entered in any court having jurisdiction thereof.

In any action between Owner and a tenant in which TBVH is made a party because of acting as an escrow agent under this Agreement, or if TBVH interpleads escrowed funds, TBVH will recover reasonable attorneys’ fees and costs, to be paid out of the escrowed funds and charged and awarded as court costs in favor of the prevailing party.

Owner shall hold harmless and indemnify TBVH, its parent and subsidiary companies, affiliates, employees, independent contractors, representatives, shareholders, insurers, successors and assigns, from all claims, law suits, damages, costs, losses, fees, penalties, taxes, fines, and expenses of any kind arising from or relating to:

• (i) Owner’s failure or refusal for any reason to deliver possession of the Unit;
• (iii) Dishonored checks or credit card payments from any source;
• (iv) Any injury to any person or property occurring on or about the Unit, and
• (v) Any violation of any federal, state, or municipal law, regulation or ordinance by Owner.

Owner does hereby irrevocably name, constitute and appoint TBVH, its legal representatives, successors and assigns as Owner’s attorney-in-fact for the term of this Agreement for the limited purposes of: 

• (i) Rendering deposits and payments for utility and other services;
• (ii) Requesting information about the HOA, make payments and set it in auto pay.
• (ii) Causing in-Unit building maintenance activities to be undertaken promptly;  

This power of attorney is specifically limited to the above, and is valid only when circumstances prevent Owner or Owner’s representative from representing Owner’s interest in a timely manner. 

It is understood that the Owner shall, at Owner’s expense, carry liability insurance for the Unit and Owner’s personal property therein, in the minimum amount of $300,000. Owner shall provide evidence of this coverage by providing TBVH with a certificate of insurance acknowledging same.

Owner acknowledges that TBVH is not liable for any damage to, or repair of the real or personal property of Owner occasioned by an Act of God.

(a) This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. Any litigation arising out of this Agreement shall be brought in a court of competent jurisdiction located in the county where the Property is located.
(b) The Captions, headings and titles to Paragraphs of this Agreement are for convenience of reference only, and shall in no way restrict or affect, or be in any way an interpretation of the provisions of any such Paragraph of this Agreement.
(c) Severability and Interpretation. If any clause or provision of this Agreement shall be deemed illegal, invalid or unenforceable under present or future laws effective while this Agreement is in effect, then in that event, the remainder of this Agreement shall not be affected by such illegality, invalidity or unenforceability.
(d) Owner shall store private property in the Unit at Owner’s own risk. TBVH assumes no liability for the loss or damage thereof or rents collected resulting from theft, dishonored or uncollected checks or credit card payments, bank failure or other causes or events beyond its control.
(e) Outside maintenance services provided by TBVH on behalf of the Owners will in most cases be deducted from the rent proceeds to the Owner.
(f) This is the entire Agreement between the parties and there are no oral or written amendments or modifications. All changes must be in writing and signed by the parties. This Agreement shall be governed and construed under the laws of the State of Florida.
(g) Any notice required pursuant to this Agreement, shall be deemed effective three (3) days after being mailed by U.S. Mail, to TBVH at the address below and to the Owner at its address on the signature page of this Agreement.
(h) Any notice required pursuant to this Agreement, shall be deemed effective three (3) days after being mailed by U.S. Mail, to TBVH at the address below and to the Owner at its address on the first page of this Agreement.

The Best Vacation Homes LLC
13574 Village Park Dr, Suite 115K - Orlando/ FL 32837
Fax: 407.704 1800 - Email: manager@tbvhomes.com