Rental Policies Agreement

THIS IS A VACATION RENTAL AGREEMENT UNDER THE NORTH CAROLINA VACATION RENTAL ACT. THE RIGHTS AND OBLIGATIONS OF THE PARTIES TO THIS AGREEMENT ARE DEFINED BY LAW AND INCLUDE UNIQUE PROVISIONS PERMITTING THE DISBURSEMENT OF RENT PRIOR TO TENANCY AND EXPEDITED EVICTION OF TENANTS. YOUR SIGNATURE ON THIS AGREEMENT, OR PAYMENT OF MONEY OR TAKING POSSESSION OF THE PROPERTY AFTER RECEIPT OF THE AGREEMENT, IS EVIDENCE OF YOUR ACCEPTANCE OF THE AGREEMENT AND YOUR INTENT TO USE THIS PROPERTY FOR A VACATION RENTAL.

Manager, as agent of the owner, hereby rents to Guest, and Guest hereby rents from Manager, the vacation property (referred to hereafter as the “Premises”) described in the Reservation Confirmation Letter on the terms contained in this Agreement.

The Reservation Confirmation Letter associated with this rental identifies the Guest, Guest’s contact information, identifies the Premises, specifies the term including dates and times, specifies rent and advance payments, and itemizes other charges. Guest agrees that Guest has received and read the Reservation Confirmation Letter and that it shall constitute an integral part of this Agreement.

Manager: Pete Key Properties Inc., 26 E Chestnut St., Asheville NC 28801. Telephone (828) 707-1022. E-mail: info@petekey.com.

Manager shall conduct all brokerage activities in regard to this Agreement without respect to the race, color, religion, sex, national origin, handicap, familial status, sexual orientation or gender identity of any Guest.

1. NIGHTLY MINIMUMS:
Most properties require a 2-night minimum stay. Longer minimum stays may be required during holiday periods and certain seasons. Due to local regulations some properties located within the City of Asheville require a 30 night minimum. By accepting this rental agreement you agree to a 30 night minimum stay for all such properties located within the Asheville city limits.

2. FUNDS:
This Agreement expressly authorizes Manager to collect funds in advance of the commencement of tenancy. Funds may be transferred by cash, check or credit card transaction, or any other method mutually agreed upon by Manager and Guest. These funds may include all or part of required rent, security deposit and other fees permitted by law. All funds shall be deposited in Manager’s trust account at Wells Fargo Bank located at 1 Haywood St., Asheville NC 28801.

Guest authorizes Manager to disburse up to fifty percent (50%) of the rent set forth in the Reservation Confirmation Letter to the owner (or as the owner directs) prior to Guest’s occupancy of the Premises, and the balance of the rent upon the commencement of the tenancy, a material breach of this Agreement by Tenant, or as otherwise permitted under the Vacation Rental Act.

Guest also authorizes Manager to disburse prior to Guest’s occupancy of the Premises any fees which are owed to third parties to pay for goods, services, or benefits procured by the Manager for the benefit of the Guest, including but not limited to any administrative fees as described in Section 3 below (Administrative Fees).
Funds remaining after any such disbursement shall remain in the trust account and may not be disbursed until the occurrence of one of the following: (1) The commencement of the tenancy, at which time the remaining funds may be disbursed. (2) Guest commits a material breach, at which time the Manager may retain an amount sufficient to defray the actual damages suffered by the Manager or owner as a result of the breach. (3) The Manager or owner refunds the money to the tenant. (4) The funds in the trust account are transferred in accordance with Section 8 below (Transfer of Premises).

Funds collected for sales or occupancy taxes and Guest security deposits shall not be disbursed from the trust account prior to termination of the tenancy or material breach of the agreement by the Guest, except as a refund to the Guest.

The Guest’s execution of a vacation rental agreement in which he or she agrees to the advance disbursement of payments shall not constitute a waiver or loss of any of the Guest’s rights to reimbursement of such payments if the Guest is lawfully entitled to reimbursement.

3. ADMINISTRATIVE FEES
An administrative fee of three percent (3%) of the total cost of the rental may be added to cover the costs of processing the Guest’s reservation, transfer, or cancellation of the vacation rental. Administrative fees are included with rent.

4. CLEANING FEES
A cleaning fee may be added to cover the cost of housekeeping and supplies. These fees vary for each unit and are itemized on the Reservation Confirmation Letter.

5. FIT AND HABITABLE CONDITION
Except as provided in SECTION 6 below (Mandatory Evacuations), if, at the time the Guest is to begin occupancy of the property, the Manager cannot provide the property in a fit and habitable condition or substitute a reasonably comparable property in such condition, the Manager shall refund to the Guest all payments made by the Guest.

6. MANDATORY EVACUATIONS
If State or local authorities order a mandatory evacuation of an area that includes the Premises, the Guest shall comply with the evacuation order. Upon compliance, the Guest shall be entitled to a refund from the Manager of the rent, taxes, and any other payments made by the Guest pursuant to the vacation rental agreement as a condition of the Guest’s right to occupy the property prorated for each night that the Guest is unable to occupy the property because of the mandatory evacuation order. The Guest shall not be entitled to a refund if: (i) prior to the Guest taking possession of the property, the Guest refused insurance offered by the Manager that would have compensated the Guest for losses or damages resulting from loss of use of the property due to a mandatory evacuation order; or (ii) the Guest purchased insurance offered by the Manager or owner.

7. EXPEDITED EVICTION
Guest may be subject to an expedited eviction proceeding brought by Manager in the event Guest does one of the following: (1) Holds over possession after his or her tenancy has expired. (2) Has committed a material breach of the terms of the vacation rental agreement that, according to the terms of the agreement, results in the termination of his or her tenancy. (3) Fails to pay rent as required by the agreement. (4) Has obtained possession of the property by fraud or misrepresentation.

8. TRANSFER OF PREMISES
(a) If the owner voluntarily transfers the Premises, Guest has the right to enforce this Agreement against the grantee of the Premises if Guest’s occupancy under this Agreement is to end 180 days or less after the grantee’s interest in the Premises is recorded. If Guest’s occupancy is to end more than 180 days after such recordation, Guest has no right to enforce the terms of this Agreement unless the grantee agrees in writing to honor this Agreement. If the grantee does not honor this Agreement, Guest is entitled to a refund of all advance rent paid by Guest (and other fees owed to third parties not already lawfully disbursed). Within 20 days after transfer of the Premises, the grantee or the grantee’s agent is required to: (i) notify Guest in writing of the transfer of the Premises, the grantee’s name and address, and the date the grantee’s interest was recorded; and (ii) advise Guest whether Guest has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payments made by Guest. However, if the grantee engages Manager to continue managing the Premises after the transfer, the grantee shall have no obligation under (i) or (ii) above if this Agreement must be honored under the Vacation Rental Act or if the grantee agrees in writing to honor this Agreement. (b) Upon termination of the owner’s interest in the Premises, whether by sale, assignment, death, appointment of a receiver or otherwise, the owner, owner’s agent, or Manager is required to transfer all advance rent paid by Guest (and other fees owed to third parties not already lawfully disbursed) to the owner’s successor-in-interest within 30 days, and notify Guest by mail of such transfer and of the transferee’s name and address. However, if Guest’s occupancy under this Agreement is to end more than 180 days after recordation of the interest of the owner’s successor-in-interest in the Premises, and the successor-in-interest has not agreed to honor this Agreement, all advance rent paid by Guest (and other fees owed to third parties not already lawfully disbursed) must be transferred to Guest within 30 days.

9. GUEST DUTIES
Guest agrees to comply with all obligations imposed by the Vacation Rental Act on Guest with respect to maintenance of the Premises, including but not limited to keeping the Premises as clean and safe as the conditions of the Premises permit and causing no unsafe or unsanitary conditions in the common areas and remainder of the Premises that Guest uses; and notifying Manager in writing of the need of replacement of or repairs to a smoke detector, and replacing the batteries as needed during the tenancy. Guest agrees not to use the Premises for any activity or purpose that violates any criminal law or governmental regulation and may use the Premises for residential purposes only. Guest’s breach of any duty contained in this paragraph shall be considered material, and shall result in the termination of Guest’s tenancy.

10. OCCUPANCY
Unless otherwise stated in the Reservation Confirmation Letter, occupancy of the Premises shall be limited to two persons per bedroom, including family, children and invitees of Guest. Bedding arrangements in the Premises are portrayed only to illustrate possible sleeping arrangements and may not be taken as a representation of permitted occupancy. Guest agrees to be responsible for ensuring that maximum permitted occupancy of the Premises is not exceeded during the term of this Agreement, and should contact Manager with any questions regarding permitted occupancy of the Premises.

Unless otherwise stated in the Reservation Confirmation Letter, absolutely no parties, youth groups, fraternities, sororities, weddings, receptions, or meetings are allowed. We do not rent to students or groups of students under any circumstances, even if a parent or legal adult makes the reservation and/or pays the rent. If such a group attempts to occupy the Premises this will constitute a material breach. All monies will be forfeited and Guests will be asked to vacate the property immediately. Absolutely no firearms or pyrotechnics will be permitted on the Premises.

11. CANCELLATION
If Guest cancels 60 days or more prior to Guest’s scheduled arrival, Guest will receive a refund of all payments made by Guest, less an administrative fee of 3% (three percent) of the total cost of the rental as described in described in Section 3 above (Administrative Fees).

If Guest cancels 59 days or fewer prior to Guest’s scheduled arrival, Guest shall receive a refund of all payments made by Guest, less an administrative fee of 3% (three percent) of the total cost of the rental as described in described in Section 3 above (Administrative Fees) if the Premises are re-rented on the terms set forth herein. If the Premises are not re-rented on the terms set forth herein, Guest will not be entitled to a refund of any rent payment made hereunder. Whether or not the Premises are re-rented, Guest, rather than Agent, shall be responsible for seeking reimbursement of any fees paid by Guest to Agent for goods, services, or benefits procured by Agent from third parties for the benefit of Guest that may have been paid out prior to Guest’s cancellation.

If the Guest reserves the Premises more than 30 days prior to arrival, payment may be split in accordance with the payment schedule set forth in the Reservation Confirmation Letter. All balances are due 30 days prior to arrival and will be charged by the Manager at that time. If Manager is unable to complete the transaction every effort will be made to contact the Guest to arrange payment. If payment cannot be completed the reservation will be treated as a Cancellation.

12. INDEMNIFICATION AND HOLD HARMLESS; RIGHT OF ENTRY; ASSIGNMENT
Guest agrees to indemnify and hold harmless Manager and the owner from and against any liability for personal injury or property damage sustained by any person (including invitees of Guest) as a result of any cause, unless caused by the negligent or willful act of Manager or the owner, or the failure of Manager or the owner to comply with the Vacation Rental Act. Guest agrees that Manager, the owner or their respective representatives may enter the Premises during reasonable hours to inspect the Premises, to make such repairs, alterations or improvements thereto as Manager or owner may deem appropriate, or to show the Premises to prospective purchasers or tenants. Guest shall not assign this Agreement or sublet the Premises in whole or part without written permission of Manager.

13. PETS
Unless otherwise specifically permitted in the Reservation Confirmation Letter, no pets shall be allowed on the Premises. Guest’s breach of this provision shall be considered material, and shall result in the termination of Guest’s tenancy. Guest agrees to hold owner harmless for any pet injury or accident whatsoever that may occur on the rental property during occupancy. Any misrepresentation regarding number of pets will be charged accordingly. Guests are held financially responsible for all physical damages to property caused by pets (i.e. chewing, scratching, flea infestation, etc.). If extra cleaning is deemed necessary due to the presence of a pet, (i.e. soiled furniture and/or flooring, hair on furnishings or bedding or fleas) the guest will be held financially responsible and the credit card on file will be charged for the amount of the extra cleaning. Please no pets on furniture or beds. All pets are required to be leashed when outside the enclosed (fenced) area and no pet shall be tied outside the property unless supervised by a responsible adult. Pets left alone in the Premises must be crated.

14. SMOKING
Unless otherwise specifically permitted in the Reservation Confirmation Letter, smoking inside the rental home is PROHIBITED. The property is NON-SMOKING. Guest’s breach of this provision shall be considered material, and shall result in the termination of Guest’s tenancy. If this regulation is violated and smoking has been detected in the rental property, a $300 penalty will be charged to Guest’s credit card on file.

15. DAMAGE WAIVER
Rent for units with the exception of 36 Hazel Court in Brevard includes a non-refundable damage waiver. Guest shall not be liable for unintentional loss and/or damage to the property in an amount of less than $500 resulting from the following:

  • Accidental loss or damage to the property or its contents.
  • Loss or damage resulting from normal wear and tear of the property.
  • Loss or damage resulting from earthquakes, floods and/or other acts of nature.

Guest shall be liable for all damage and or loss to the property relating to the following:

  • Loss or damage resulting from any intentional, grossly negligent, or willful conduct of Guest and/or an invitee of Guest.
  • Loss or damage resulting from any animal brought to the property by Guest and/or an invitee of Guest.
  • Loss or damage which Guest does not report to Manager within 24 hours. Failure to report damage promptly shall render the damage waiver null and void.
  • Loss of use of the property resulting from any damage covered by this section.
  • Loss or damage to any property owned by the Guest and/or an invitee of Guest.
  • The cost plus 10% to repair the property damaged will be billed to the Guest credit card on file.
  • Damage waiver shall be effective on arrival of Guest and or invitee of Guest and shall terminate on departure from property. Guest agrees to be bound by the rules and policies set forth herein.

Reporting Damage: Guest shall report all damage to Pete Key Properties within 24 hours. Pete Key Properties and its agents shall administer this agreement. Failure to report damage promptly shall render the damage waiver null and void.

Term: Damage waiver shall be effective on arrival of guest and or invitee of guest and shall terminate on departure from property. By accepting the rental agreement, you agree to be bound by the rules & policies set forth herein.

16. SECURITY DEPOSIT
Guest may be required to pay a refundable security deposit of $500 for certain properties. Security deposits paid by Guest may be applied to actual damages caused by Guest or invitee of Guest as permitted under the Tenant Security Deposit Act. In addition, Manager may deduct from the security deposit the amount of any unpaid long distance or per call telephone charges and cable television charges that are not specifically described in this Agreement (including any addendum hereto) as being included with the Premises. Manager shall apply, account for, or refund Guest’s security deposit within 45 days following the end of the tenancy.

17. MECHANICAL FAILURES/REPAIRS/APPLIANCES:
Manager is not responsible, nor will refunds be issued, for mechanical failures of non-essential or luxury items, including, but not limited to, Television, Satellite/Cable Service, Dishwasher, Washer/Dryer, Fireplaces, Air Conditioning, or any other appliance that fails to operate properly during Guest’s tenancy. No refunds will be issued for minor disruption of any utilities including, but not limited to, power outages, water outages, internet, etc. These failures are beyond our control and no refund or rent reduction will be given. Please report inoperative equipment and we will make every effort to have repairs done as quickly as possible during reasonable hours. Construction, road noise, or train noise near the property is beyond our control. If you experience construction noise during your stay, no refunds or relocation will be made.

18. GOVERNING LAW; VENUE
The parties agree that this Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina, and that in the event of a dispute, any legal action may only be instituted in the county where the property is located.

CONTACT

Pete Key Properties
828-577-3435
26 E. Chestnut Street
Asheville, NC 28801

Pete Key Properties
26 E. Chestnut Street
Asheville, NC 28801
Email: info@petekey.com
Phone: 828-577-3435
Url:
https://www.petekey.com/wp-content/themes/petekey/images/logo.jpg
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