Sample TAN Lease Agreement
Below is a sample Travel Advantage Network Lease Agreement for those participating in RevBoost Collective. This agreement is for the Guaranteed Rental Income you will receive for your homeowners that participate in the TAN program.
Travel Advantage Network SAMPLE Lease Agreement
THIS RENTAL AGREEMENT (“Agreement”) is entered into this __ day of ________, 2023 by and between _______________ ( “______”), and Travel Advantage Network, Inc. (“TAN”).
WHEREAS, _____ is the rental management agent for certain inventory located in “ ______________“ __________________,“ (the “Resort(s)”); and
WHEREAS, ________ (LESSOR) is desirous of renting to TAN ( LESSEE) and TAN is desirous of renting from __________, those certain inventory weeks more particularly described herein for the agreed upon rate and pursuant to the terms all as set forth herein and both parties represent to the other that they have authority to enter the agreement.
NOW, THEREFORE, for and consideration of the mutual promises and benefits contained herein, as well as other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
1. Term. Subject to the terms contained in this Agreement, Lessor hereby agrees to lease the above referenced unit (s) based on a Schedule A for the Property and unit(s) listed, and Lessee hereby agrees to accept such engagement, for a term to begin on check in date of ___________, 2024 at 4pm and terminate on (check-out date of __________, 2024). The Initial Term, together with all Renewal Terms, shall collectively be referred to hereinafter as the “Agreement Term.”
This agreement is binding for the entire duration as specified under in advance and cancellations would be damaging to Lessee, therefore the lease is non-cancelable. If the Property becomes unavailable for any reason during this period, Lessor agrees to provide comparable Properties during this lease term subject to acceptance of Lessee. Should Lessor be unable to do so, this Agreement may be terminated at Lessor’s sole discretion and Lessor will be responsible for all resulting costs or material damages incurred by Lessee unless the property is unavailable due to a hurricane or Act of GOD.
2. Lease Payments. Lessee shall pay to the Lessor the sum of $____________ which shall include all expenses and fees associated with the Units being made subject to this Lease. Those fees and expenses shall mean, but not be limited to, lease cost of units, resort club membership and utilities. By acceptance of the lease payment and the terms of this Lease Agreement, Lessor hereby agrees that all expenses and fees associated with the subject Units shall be paid and remain in a current status at all times during the Lease Term stated above.
The total amount due under this Lease Agreement shall be $___________ and shall be payable in monthly installments of $___________ beginning __________ continuing on the 1st day of each month thereafter. Payments are due and payable by the 1st of each month and are to be mailed to the following address:
Lessee guarantees to Lessor the leasing of up to a maximum of ____________ at the Resort(s)/Unit(s) under this Agreement at the above stated rate and payment terms.
3. Reservations. Lessor agrees and acknowledges that Lessee shall be utilizing the Units for Lessee’s owner/members, guest, and/or invitees through any one or all of its programs. Lessee agrees to transmit by e-mail or fax to Lessor or its agent a weekly occupancy report indicating the name of the individual occupying the Units in the week(s) following the date of the report. All guest names of Lessee shall be transmitted to following the date of the report. All guest names of Lessee shall be transmitted to Lessor at the minimum of one (1) business day(s) prior to the date of check-in for any specific unit week.
If by e-mail:
Lessor does not and will not assume any liability or responsibility to/for Lessee and its members or guests for damage, expense or inconvenience, loss, injury, accident, death or damage to any persons or property whatsoever due to delays and/or cancellations due to nature, strikes or acts of God.
4. Rent Payment Schedule. TAN agrees to pay _______ the amount for the Unit(s) indicated above. All expenses and fees associated with the Units being made subject to this Agreement are the sole responsibility of _______. Those fees and expenses shall mean, but not limited to, rental cost of units, resort club membership and utilities, and applicable state and local sales, use and occupancy tax(es). By acceptance of the rent payment and the terms of this Agreement, ______ hereby agrees that all expenses and fees associated with the subject Units shall be paid and remain to a current status at all times during the Term sated above.
5. Reservations. ______ agrees and acknowledges that TAN shall be utilizing the Units for TAN’s owner/members, guest, and/or invitees through any one or all of its programs. Further, TAN shall have the right to represent such rented inventory in its program literature provided. ______, at its sole cost, shall be responsible for relocating guests of TAN to comparable accommodations within the area if the Unit(s) are uninhabitable or otherwise not tenantable due to unforeseen circumstances.
In the event of an act of God, an event outside the control of ______ or total resort closure, Vendor will, at its discretion, attempt to relocate TAN’s owner/members, guest, and/or invitees to comparable accommodations in the region or issue a refund for the week(s) that are unable to be utilized.
6. Check-in Procedure. _____ shall, at no cost to TAN or TAN’s owner/members, guest, and/or invitees, provide checkin, check-out services for occupants of the Units at the Resort(s). Check-in is 4:00 pm on Saturday and check -out is 10:00 am the following Saturday.
7. Complimentary Amenities and Services. ______ shall provide TAN and occupants of the Units use and access to those amenities and service locate at the Resort at no additional charge if such use of amenities and services is allowed and permitted at no charge in its ordinary course of business and operation. TAN and TAN’s contractors, employees, agents, visitors, invitees and licensees shall comply with and abide by any rule and regulations established by _______ or the Resort pertaining to the Units and/ or the amenities at the Resort.
8. Housekeeping, Maintenance, and Property Insurance. ______ shall arrange for weekly cleaning upon departure for each Unit subject to this Agreement. Said weekly housekeeping service shall include the general cleaning of the Unit, a full linen exchange and replenishment of guest supplies if applicable. ________ will invoice the Lessee monthly for each unit(s) weekly departure cleanings. During the Term _______ shall be responsible for maintaining and keeping in good condition the structure of the Units and all systems therein, and for maintaining in good condition and repair all furnishings, fixtures, and equipment and replacing same when replacement is warranted, except when any such repair or replacement is above normal wear and tear or required by reason of the intentionally wrongful act or negligence of TAN’s owner/members, guest, and/or invitees which shall be the responsibility of TAN.
During the Term, TAN shall take good care of the Units and all furnishings, fixtures and equipment provided by _________, and shall return the same to ______ upon the last day of the Term in generally the same condition as the first day of Term, normal wear and tear excepted. TAN shall be responsible for any repairs above normal wear and tear or necessitated by the intentionally wrongful act or negligence of TAN or TAN’s owner/members, guest, and/or invitees, in which case the replacement shall be the responsibility of TAN.
________ hereby confirms to TAN that the Unit(s) are covered by property insurance placed by the owner of such Unit and is in full force and effect for the Term of this Agreement.
9. Entire Agreement. This Agreement constitutes the sole and entire agreement between the parties with respect to the subject matter hereof and no modifications shall be binding unless signed by the parties to the Agreement. No representation, promise, or inducement not in this Agreement shall be binding on any party hereto. The provisions of this agreement are severable. The invalidity of any provision of this Agreement shall not affect the validity and enforceability of any other provision of this Agreement.
10. Indemnification. During the Term, Vendor and TAN, at their own expense shall be responsible for keeping in full force and effect policies of general liability insurance with respect to the Units to protect their respective interests. Each party (as “Indemnified Party”) against any and all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs, or expenses of whatever kind, including reasonable attorneys’ fees that are incurred by Indemnified Party ( collectively, “ Losses”), arising out of third-party claim.
11. Termination. Either party may terminate this Agreement in the event of a Default. For the purposes of this Agreement, “Default: shall mean the violation of or failure to perform under any provision of this Agreement. Prior to termination, a party must send written notice to the other party (“Defaulting Party”) stating the reasons for the Default. The Defaulting Party shall have 15 days from the date of written notice to cure such breach. In the event that the Defaulting Party fails to cure, then this Agreement shall terminate immediately.
Immediate notice shall be given by TAN to ______ or ________ to TAN, as the case may be, of any fire or other casualty which occurs at a Unit (or Units if that is the case) or otherwise which affects TAN’s use and enjoyment of the Unit.
12. Arbitration. Any dispute arising under or in connection with this Agreement shall be determined by binding arbitration before a single arbitrator jointly selected and paid by ___________ and TAN.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals as of the date indicated below.
Travel Advantage Network
VACATION RENTAL MANAGEMENT COMPANY