RENTAL MANAGEMENT AGREEMENT

RENTAL MANAGEMENT AGREEMENT

SUNSCAPE RENTALS & SALES

This agreement is entered into this _____ day of ________________ , 20___, by and between Sunscape Rentals and Sales, herein referred to as “Manager”, and ____________________________________ hereinafter referred to as “Owner”.

Whereas, Owner contracts the Manager as Rental Agent to offer the Owner’s Unit #________ of ________________________ , a condominium, located in __________________ , Alabama, hereinafter referred to as a “condominium”, for rental under the terms and conditions set forth below.

Now therefore, in consideration of the terms, conditions and mutual covenants herein set forth, the parties agree as follows:

1. TERM

a) The Unit will be available for rental on the _____ day of _______________ , 20___, and this agreement shall remain in force and effect for a term of one (1) year from said date.

b) This agreement shall automatically renew for successive twelve (12) month periods on its anniversary date in each successive year, provided however, this agreement may be canceled by either party upon thirty (30) days written notice.

c) Owner may cancel the contract by giving thirty (30) days written notice. Manager then retains the right to move any future reservations scheduled in the Unit or to receive rental commission for those reservations if they remain in the Unit.

2. RENTAL SERVICES

a) Owner hereby exclusively employs Manager for the purpose of renting and maintaining the Unit on the terms and conditions hereinafter set forth. Nothing shall preclude Owner from occupying the Unit as long as Owner has made prior reservation with Manager and only if the Unit has not been rented for any portion of the period requested by Owner.

b) Manager hereby accepts the management and agrees to secure rentals for the Unit.

c) Manager shall set the rates for rental of the Unit at its discretion, but will accept advice from Owners.

d) Manager is authorized to collect, demand, sue for, receive and give receipts for any and all rent and other charges for Owner’s Unit or Units which may at any time be or become due during the term of this agreement.

e) Manager shall not rent or allow use of the Unit for any purpose which is in violation of the Declaration of Condominium, restrictive covenants or other legal restrictions imposed by regulations or law.

f) Any interest earned on escrow or security deposit funds will be the property of the management company.

3. MAINTENANCE AND HOUSEKEEPING SERVICES

a) Owner recognizes that Unit is being rented to the public. The public regards the Unit as a public accommodation, not a private home. When furnishings and fixtures are selected for the Unit, Owner agrees to consider cleaning procedures, maintenance requirements and the usual amount of traffic it will receive.

b) Owner agrees to maintain the furnishings and fixtures in accord with reasonable requirements by Manager.

c) Owner hereby authorizes Manager, its Agents, Companies with whom it has contracted for materials and/or services and employees, to enter the Unit for the purpose of performing such inspections, maintenance and housekeeping services as may be necessary to keep the Unit properly maintained and suitable for occupancy..

d) The Manager may, without prior approval of Owner, and at Owner’s expense, repair and/or replace items of equipment as necessary to maintain rental services to the occupant provided expenses for repair and/or replacement do not exceed TWO HUNDRED AND 00/100 ($200.00) DOLLARS for any one repair or replacement. Manager shall not be responsible for payment of damage or repair except as otherwise provided herein. Any sums due Manager by Owner may be offset against rental income or other funds held by Manager on behalf o f Owner.

e) The Manager shall hire, supervise, pay and discharge all labor and contract employees, required for the operation and maintenance of the Unit.

4. OCCUPANCY BY OWNER

a) Owner, Owner’s family and non-paying Owner’s guest may occupy the Unit during any portion of the Rental Period but only by prior reservation with Manager and only if the Unit has not been rented for any portion of such period.

b) Owner or his family shall pay Manager the charge for housekeeping services at the end of their stay.

5. COMPENSATION OF OWNER

The Owner agrees that all revenue from the rental of the Unit will be collected through the Manager. Owner shall be compensated at a rate of seventy-five (75%) percent of Unit revenue for daily, weekend, weekly, and monthly bookings. Owner shall be compensated at the rate of eighty-five (85%) percent on monthly bookings. The remaining rental revenues shall be retained by Manager as its commission or fee for all rentals of the Unit. Housekeeping, maintenance, and other services shall be retained entirely by the Manager.

6. STATEMENTS

a) At the end of each month, Manager shall mail to Owner a statement of income received and expenditures made. This will be done within fifteen days after the month ends. Manager will remit to Owner the rents collected for the Unit(s) less any expenses incurred by the Unit and Management Fee as stated earlier.

b) The Manager agrees to exercise its best efforts to collect any uncollected rental fees or other sums due Owner for which Manager was Rental Agent, but shall not be required to initiate legal proceedings.

7. UNIT LIABILITY INSURANCE

Owner shall maintain property and liability coverage for each Unit on the Rental Program insuring against bodily injury and property damage.

8. MISCELLANEOUS

a) A private telephone shall be installed at the risk of the Owner. Manager requires that Owner carry call blocking features for incoming and outgoing long distance calls.

b) Manager will not be responsible for personal property of the Owner. It should be locked up or removed from the Unit.

c) If a pest control service is not provided by the Owner, the Manager will have Unit treated monthly and bill Owner.

d) Owner acknowledges that Manager makes no warranty or guarantee regarding rental income, expenses, or tax benefits through ownership.

e) Manager will not charge any credit card fees to Owner for bookings.

9. PROPERTY DESCRIPTION AND RENTAL RATES

Complex Name: _____________________________________

Unit #: _____________________________________

Rental Rates DAILY WEEKLY MONTHLY

Spring $______ $______ $________

Summer $______ $______ $________

Fall $______ $______ $________

Winter $______ $______ $________

SIGNATURES:

Date: ___________ Owner: _____________________ Tax ID: _____________

Home Telephone: __________ Work Telephone: __________ Fax: __________

Address: _________________________________________________________

E-mail Address: ___________________________________________________

Date: ____________ Authorized Associate or Broker: _____________________

Work Telephone: _____________________ Fax: ________________________

Address: _________________________________________________________