1.1. Euphoric Leisure (herein referred to as EL) shall market the Property on behalf of the Homeowner, on its real-time booking platform, with the goal of securing short-term bookings to its member and rental clientele, to maximize the income for the homeowner.
2.1. ROSTER MANAGEMENT
2.1.2. The Homeowner will receive their own homeowner code that will trigger a 100% discount when booking their property on the EL website. This homeowner code can be used to block off time in the calendar for personal, or friends & family, bookings. Homeowners understand that if any personal booking is not recorded on the live calendar and someone else books the property, then the confirmed booking must be honoured. Therefore, it's important that homeowners block off personal bookings through the platform as soon as they decide to travel.
2.1.3. Once a booking is made on a booking platform and the deposit has cleared through the payment gateway, or a proof of payment has been received, the booking is considered confirmed.
2.1.4. EL will market available time to its rental clients and to Euphoric Members. EL will manage the roster and all bookings must be routed through the EL website or our office. The calendar is available for viewing on the Euphoric Leisure website: www.euphoricleisure.com.
2.2. SHORT-TERM HOSPITALITY SERVICES
2.2.1. EL will use its best endeavors to secure bookings for the homeowner. EL retains 15% (excl. VAT) of the net rental income (gross amount less any credit card or platform fees) and pay the balance to the homeowner in the month following the guest departing the property.
2.2.2. EL also charges a 2.5% booking fee to the rental client on all bookings facilitated through the EL booking platform.
2.2.3. EL shall be the primary, but non-exclusive, rental agent of the property but may outsource certain functions at its own discretion.
2.2.4. EL will load the Property onto the EL website and a number of additional booking portals, and proactively promote the property to its base of clients.
2.2.5. Published rates are established by doing a comparative market analysis every 6-12 months. The homeowner consents to allowing EL to run promotions and adjust these published rates, from time to time, in order to increase occupancy and overall revenue.
2.2.6. In order to increase bookings in the Property, the Homeowner may elect to add their property to the Euphoric Member Portfolio and/or the Extended Portfolio. Applied discounts in these portfolios exclude blackout dates (eg. Peak & Super Peak Season), as shown the calendar on the EL website.
2.3. ACCOUNTING & PAYMENT
2.3.1. EL will provide the homeowner with a recon of the monthly bookings and the total revenue generated for the month.
2.3.2. It is understood that the homeowner of the Property will pay all creditors on a monthly basis.
2.3.3. Payment of the previous month’s rentals will be made to the homeowner prior to the 10th day of the following month.
2.3.4. A booking’s check-out date determines which month it is categorized in. Therefore, if a booking is from 28th June to 5th July, this booking will be included in the July bookings and will be paid by 10th August.
2.4.1. The Homeowner must ensure that they maintain adequate and suitable insurance cover for all hospitality use and ensure protection against public liability for any claim against EL or the guests of the Property in respect of fire, theft, and such other perils as deemed necessary of the fixtures, fittings and movables in the Property, including operating equipment.
3.1. Neither party may affect any change of whatsoever nature to the Scope of Work outlined in Clause 2 and elsewhere in this agreement without the prior written approval of the other party.
3.2. Should the scope and parameters of work change materially after the signing of this Agreement, the parties shall either amend this agreement by means of an addendum thereto so as to provide for the necessary changes in scope or alternatively draw up and sign a new Agreement which new Agreement shall cancel and replace this agreement or failing which the current agreement can be cancelled with due notice as provided herein.
4.1. The initial listing period will be for a period of 1 (one) year from date of the property going live on the EL platform and will continue in perpetuity unless cancelled by either party, by way of email, giving 1 (One) months’ notice. Termination of this agreement is subject to all bookings and reservations received being honoured.
5.1. In order to maintain a high standard of accommodation for guests, the Homeowner agrees to maintain the Property to ensure that guests have a great experience. Should the Property receive 3 major complaints related to quality and upkeep within a 12-month period, the Company reserves the right to delist the Property until the Homeowner has addressed the issues or upgraded or refurbished the Property, and brought it back to a standard acceptable to the Company.
5.2. The Homeowner agrees that the Company may send members of their team to stay in the property for 1-2 nights, once a year, at the Homeowner’s cost, in order to do a quality check and provide feedback and suggestions to the Homeowner.
6.1. The parties hereto shall act with the utmost good faith between each other in all matters concerning this agreement and the parties shall use their best endeavours to ensure that the objectives of this agreement are met and realised.
7.1. Notwithstanding any provisions in this Agreement and whilst EL warrants that it shall use its best endeavours to ensure that the service provided is of the highest standard, no warranty can be given to the Homeowner in respect thereof. The Homeowner indemnifies EL, its employees, contractors, guests and other persons connected in some way to the provision of the services against all claims for loss unless due to the deliberate or grossly negligent actions of the relevant party.
7.2. Any malicious or accidental damage to the Property caused by EL guests or their visitors, is the guest’s responsibility. All damages should be photographed and reported by the homeowner or their property manager within 48 hours of the guest vacating the Property. EL may hold a breakage deposit for bookings made on the EL platform and on Booking.com. Airbnb claims will be resolved through the Airbnb Resolution Centre, should an Airbnb guest decline payment. EL is not responsible for payment of damages and will not be held liable for any damages. EL will merely act as a mediator between the homeowner and the guest during the breakage claim process.
8.1. No variation or amendment of the terms and provisions of this Agreement shall have any force or effect unless reduced to writing and such amended document is signed by the parties hereto.
9.1. Should either party be in breach of any provision of this Agreement the aggrieved party shall, by means of a written notice give the offending party fourteen (14) working days within which to remedy the cause for complaint, failing which the aggrieved party shall have the right to:
- Grant the offending party further time to remedy the cause for complaint
- Cancel this agreement with immediate effect.
10.1. Should there be a dispute in regard to the interpretation of the terms of this Agreement or the standards to be achieved in respect of the project as a whole or in relations to a part thereof, the parties shall agree on the selection of an Arbitrator who shall have the appropriate qualifications to tend to such dispute.
10.2. Both parties shall draw up their contentions in respect of the dispute and shall forward the same to the Arbitrator within seven (7) days of the Arbitrator’s selection by the parties.
10.3. The Arbitrator may call upon the representatives of the parties either singly or together to elicit further information to assist the Arbitrator in making his/her decision.
10.4. The Arbitrator’s decision shall be final.
10.5. Such Arbitration proceedings shall not be subject to the Arbitrations Act 1965.
10.6. The party least favoured by the Arbitrator’s decision shall be liable for the entire costs of the arbitration proceeds.
10.7. Should the parties be unable to agree on the selection of the sole Arbitrator to attend to the dispute, the matter shall be referred to a firm of attorneys to be appointed by the aggrieved party, which firm of attorneys shall select an Arbitrator of their choice to arbitrate and such firm of attorneys’ decision in this regard shall be final.
11.1. These terms and conditions shall constitute the entire Agreement between the parties and no other conditions, warranties, stipulations or representations shall be binding on the parties unless reduced to writing.