PROPERTY MANAGEMENT AGREEMENT

This property Management Agreement is made this ____ day of September 2015 ,by and
between Stay City Rentals LLC, having an office address of 1819 S Main street ,Los Angeles,
CA 90015
And __________________ (Owner), having a residential address at ____________________.
Stay City Rentals mission is to create an alliance of property owners who share the same
passion for quality vacation or short-term rental homes in the local Los Angeles area (as of
2013/2015).
Owner is the owner of the property located at
_________________________________________.
Owner desires to place the premise listed above under the management of Stay City Rentals for
the purpose of renting it to transient occupants (Guests) for short- or long-term periods.

Basics of this Agreement

1.1 Exclusive Agent
Owner appoints Stay City Rentals as exclusive management agent for the property/premises
listed above with the right and authority to market the premises for rent to enhance guest
satisfaction and protect owners interest in revenues from the premises. Under this agreement
the owner must forfeit all marketing rights of the property/premises listed in order to allow Stay
City Rentals ability to do its job uniformly as possible. All current marketing efforts, leads, or
potential renters will be forwarded and placed under ownership effective immediately to Stay City
Rentals, LLC.
1.2 Stay City Rentals- Basic Services
Stay City Rentals will provide reasonable and customary services to promote the rental of the
Premises, book the reservations, keep the calendars on the reservation grid, check in guests,
provide access to the premises, manage housekeeping, account for transactions, collect
deposits, rentals and fees, and inspect for serviceability and damage before each period of
occupancy. A Stay City Rentals Guest Relations Manager will be provided to ensure reasonable
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guests service and care in a timely manner. The costs of these services are upon Stay City
Rentals, LLC.

Terms, Duties and Responsibilities

2.1 Guest Ready Condition & Inspection
Rental properties are, by nature, at risk of wear, damage and loss, and must be maintained in
Guest Ready Condition, as reasonably required by Stay City Rentals, LLC. Owner agrees that
Stay City Rentals, LLC may inspect the premises and establish requirements for cleaning,
maintenance and refurbishment to Guest Ready Condition.
2.2 Owner Use Property
Owners and their acquaintances may occupy the unit at any time provided reasonable advance
notice is given to Stay City Rentals. Advance notice is defined as two weeks prior to arrival
pending there will be no interruption of reservations taken by Stay City Rentals, LLC under this
agreement. It is the Owners responsibility to contact Stay City Rentals via phone or email to
ensure that the property is not rented and is ready for occupancy. Lack of review for current
availability by Owner does not relieve the Owner from honoring any Stay City Rental
Reservation. It is the policy of Stay City Rentals to hold a reservation for up to fourteen (7 to 9)
business days awaiting a confirmation from their guests funds. Overseas guest often make bank
transfers which take this long to confirm. Generally Stay City Rentals can easily confirm funds
with a confirmation number.
Should a scheduling conflict exists between an Owner reservation and Stay City Rental
reservation, the Stay City Rentals reservation shall have priority. Should an owner insist on their
reservation prevailing, Stay City Rental reservation it is the sole discretion of the manager on
duty, move the Stay City Rental reservation and debit the owners account for any additional
costs incurred by the guests to find comparable or available accommodations. Should Stay City
Rental lose the reservation due to a conflict, the owners account may be debited for the amount
of the lost fee owed to Stay City Rentals. The minimum charge for a moved/bumped/re-located
reservation is $200. In the event Owner books more than 49% of a Calendar year for personal
use, Stay City Rentals will assess a service fee of $1,000 to cover property account
maintenance. Owner should also be aware of federal and state income tax implications for
extended personal use. Please consult your CPA regarding all tax matter.
2.3 Owner Bookings
When an owner secures a verbal booking from an outside source, Stay City Rentals is to be
notified of all agreed-upon terms of said agreement and Stay City Rentals will move forward with
the booking from that point. The fee for such arrangement shall be 25% of the rental revenue,
regardless the length of the stay. This includes all for free bookings taken by the Owner outside
of immediate family visits.

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2.4 Furnishings
Owner agrees to provide quality furniture and furnishings to the extent set forth in the attached
Minimum Furnishings List, and in consultation with Stay City Rentals for the purpose of
maximizing occupancy revenue. Rentals that have been furnished prior to meeting with Stay City
rentals must create a documented list of all items or property in the home, including serial
numbers, and pass a Stay City Rentals inspection/Consultation on all items. Some items may
need to be removed to protect the owner investment and replaced with particular items of less
value or that will help the rental sell best.
2.5 Maintenance
Owner agrees to provide preventative and remedial maintenance for the premises and to keep
all improvements, fixtures, appliances, furniture, furnishings, smoke detectors, security,
mechanicals, and similar property features in good working order. In the event of maintenance
and/or replacement for the premises, Stay City Rentals will contract for, or employ, supervise,
and discharge, all required labor of maintenance of the property at an additional charge if the
owner does not provide for this. For maintenance fees over $300.00 Owners will be contacted
prior to any action being taken. Stay City Rentals may markup the cost of labor/vendor location
and management, not to exceed 15% to cover the cost of labor of its employees, inventory
and/or additional resources.
2.6 Refurbishment
Owner is responsible for the cost of refurbishment of articles due to wear, damage, etc. even if
such costs may be reimbursable by a guest or other third party. Refurbishment means the
maintenance, replacement or repair of items, and the restocking of items specified in
Attachment F, the Consumables and Supplies List.(Supplied after consultation and inventory.
2.7 Turnover Inspection
Stay City Rentals, LLC will inspect the premises for Guest Ready Condition and conduct a
Limited Inventory of Contents following rentals. The Limited Inventory of contents is to verify
the presence and condition of important items listed on Attachment G. Owner is advised that
items of personal or intrinsic value are at risk in rental circumstance and should be removed for
safekeeping. Owner expressly acknowledges that Stay City Rentals does not maintain an
inventory of Owners personal inventory in the premises unless explicitly listed in this agreement
as an attachment. If explicitly listed, Stay City Rentals will perform mandatory checks at each
check in/check out but is only responsible for reporting.
2.8 Emergency Repair
In order to enhance guest satisfaction and protect owner's Interest in revenues from the
premises, Stay City Rentals is hereby authorized to make emergency repairs or take other
appropriate actions in case of an emergency that is brought to the attention of Stay City Rentals.
If, in Stay City Rentals sole and absolute discretion, such repairs and/or other actions, such as
replacement, are necessary to protect the premises or surrounding property from damage and/or
to continue service to the guests and/or to reduce owners (and/or Stay City Rentals, LLC)
potential or actual liability, one attempt by phone and one by email will be made to contact owner
for prior approval. If Owner is unable to be contacted, then Stay City Rentals will determine, in its
sole and absolute discretion, the appropriate manner in which to effectuate repair or to take

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other necessary action. Likewise, for repairs costing less than one hundred Dollars ($100), or for
the purchase of items from the Minimum Furnishing List that are missing or in poor condition,
Stay City Rentals is hereby authorized to take appropriate action if Owner is unable to be
contacted. In such an event, under the terms and conditions of this Agreement, with or without
Owners prior approval, Owner shall be liable in full for expenses incurred in such instances.
The charge to Owner for such services shall be computed as Maintenance Fees.
2.9 Utilities
Owner agrees to provide all Utilities for the Premises. Stay City Rentals will put all utilities in their
name and pay monthly bills on behalf of Owner. Utilities include electricity, heat, water, pool
service, telephone, (domestic calls only) internet access, cable television and trash removal, as
well as other items specified in Attachment A. Owner is also responsible for helping Stay City
Rentals obtain information about the owner and operating manuals for the Premises.
2.10 Keys
Owner agrees to provide Stay City Rentals with three (3) sets of keys. For properties that
require garage clickers, electronic entry cards, or fobs- owners must present Stay City Rentals
with 3 of each as well.
2.11 Insurance
Owner shall be responsible for property insuring the premises against liability and damage from
theft, fire, and other casualty or causes. Owner shall obtain and maintain insurance coverage by
the time of execution of this agreement which has been disclosed to Stay City Rentals as the
date of _______________. In the event of any change in coverage during the term, Owner shall
provide proof of continuous coverage to Stay City Rentals. Such insurance coverage shall name
Stay City Rentals as an additional insured and shall not in any way modify or limit any liability of
Owner under this agreement. Owner shall provide proof of insurance of the type and in the
coverage amounts specified herein.
2.12 Compliance
Owner agrees to maintain the premises in material compliance with all appliance laws, rules and
regulations established and amended from time to time by governing authorities.
2.13 Damage to Premises
Owner expressly acknowledges that Stay City Rentals shall not be responsible to owner for any
theft or damage of any kind or nature to the premises or any property in, on or under the
premises, unless caused by Stay City Rentals negligence or willful misconduct. However, it is
Stay City Rentals intent to offer assistance to owner in any practicable way in owners efforts to
recover for any damage done or theft by any guests (or persons on the premises with the
permission of a guest). Therefore, owner shall report to Stay City Rentals and damage, theft or
loss to the premises or any property in, on or under the premises. In addition, Stay City Rentals
will inspect the Premises after each occupancy for damage, if any. If it can be established that
any damage was the act of a specific guest, Stay City Rentals shall seek to charge the guest on
all available credit cards and report any damage or theft to the police department. Stay City
Rentals also requires guests to purchase a property protection plan-protecting their negligence
in up to $3000.00 in accidental damages. This will cover the actual replacement cost of any
items up to $3000.00 that are brought to Stay City Rentals attention by the Guest, Owner, or

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Stay City Rentals within one week of a guest departure.

Marketing and Rental

3.1 Marketing
Stay City Rentals will use commercially reasonable efforts to promote the occupancy of the
Premises. Stay City Rentals promotions may include listing, description, characterization, and
depictions of the premises through Stay City Rentals or other website(s), brochures, and/or other
materials, manner or media as it deems appropriate.
A first-year marketing fee of $600.00 is charged to cover part of the property-specific
advertising and administration expenses. If the advertising is positive the first year the
fee will apply in subsequent years on a year-by-year basis. This amount may be paid
upfront per this agreement as a separate notated check. Or the amount may be deducted
from the first two months of owner statements in the amount of $300.00 per statement.
This fee is non-refundable marketing fees and are non-transferable. Initial here:______
3.2 Reservations Services
Stay City Rentals will provide, at its own cost, reservations service for the Premises. Stay City
Rentals will exercise reasonable care in screening potential Guests; however. Stay City Rentals
will rely solely on information provided by the guest, which information may not be accurate or
complete. Potential reservations will not be confirmed without a Vacation Rental Agreement
signed by the Guest (Rental Agreement), at which time Stay City Rentals will notify Owner.
3.3 Preventing Confirmed Reservations
Should owner take direct, affirmative steps to prevent guest with confirmed reservations from
entering the premises without a reasonable, good faith basis, owner will be liable for all resulting
damages to guests and Stay City Rentals, including, without limitation, the additional costs
incurred by Guests and Stay City Rentals to provide suitable replacement accommodations for
guests and for all applicable commissions due Stay City Rentals.
3.4 Marketing Fees, Service Costs and Deposit Verification
Stay City Rentals charges 25% from the gross rental revenue for rentals they book. For paid
occupant rentals booked by the Owner, Stay City Rentals charges 10%. Stay City Rentals will
provide Owner a statement of the previous monthly account as well as make net rental revenue
deposits in the first 5 business days of each month. If Owner finds bookings that have been
omitted from the account Stay City Rentals once agreed upon will pay the net rental revenue
within 5 business days.

Collections, Refunds and Distributions

5.1 Owner's Account
Stay City Rentals will establish and maintain a record to Stay City Rentals revenue and

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expenses for the Premises (the Owners Account). The Owners Account will be used to
record distributions of proceeds and disbursements made to Owner or on Owners behalf. Stay
City Rentals will provide Owner with monthly statements of transactions affecting the Owners
Account. When amounts are due to Stay City Rentals from Owner, an invoice will send a
statement to owner with payment for amounts due from Stay City Rentals to owner under this
Agreement. (See Attachment H, sample Homeowner Statement for specific account details.)
5.2 Rental Deposit
Stay City Rentals does not hold a rental deposit from its guest. Guest are allowed to book with a
50% payment up to 30 days prior to check in with the remaining balance due at the 30 day mark,
prior to check in. Guests who do not pay their remaining balance within 30 days prior to check in
may lose their reservation and their 50% payment. At this time Stay City Rentals will re-market
the property immediately for a renter who may pay the remaining balance for the dates. Stay
City Rentals may advertise the premises at this point as on sale or price reduction.
5.3 Security Deposit
Prior to each occupancy, Stay City Rentals will collect a Security deposit from the guest in the
form of credit card pre-authorization. This will be applied to any damage caused by a Guest not
covered by the mandatory Property Protection Plan, Excess Use Charges (if applicable), and for
the costs of any extraordinary cleaning requiring after the occupancy has ended. Security
Deposits will be held by Stay City Rentals and will accrue interest to Owner.
5.4 Damage Protection Insurance
Guest may be required to purchase accidental damage protection insurance in the form of the
property protection plan to cover damages up to $3000 caused by the Guest. Owner agrees to
maintain and provide receipts for all furnishings and items over $100 in value, and a thorough
accounting of inventoried items will be completed in conjunction with Stay City Rentals, it is
stipulated that incidentals such as silverware, dishes, glasses, etc. are considered replaceable
due to normal wear, and will be charged to Owner in such an event, unless otherwise stated.
Claims on the Property Protection plan must be filled out later than fourteen (14) days past the
departure date of the guest.
5.5 Guest Billing and Collection of Charges
Stay City Rentals will bill guest all fees and charges, including fees for extended stays, damages
discovered before or after check-out, and excess use charges, by application of the card on file.
5.6 Discounts and Refunds for Guest Dissatisfaction
Stay City Rentals has the right, in its sole discretion, to discount or refund the rental fees for the
premises to a lesser amount if the guest is unhappy due to the condition of the premises as not
in Guest Ready Condition despite Stay City Rentals reasonable efforts to remedy such
conditions. Other than in emergency situations Stay City Rentals will notify Owner of any
unhappy guests and discuss any refunds prior to distribution.
5.7 Cancellation Policies
Stay City Rentals has the right to negotiate the terms of cancellation in each occupancy
agreement and may agree, in its sole discretion, to any amount of or no cancellation fees for
each individual guest.

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5.8 Refunds for Exigent Cancellation

Stay City Rentals has the right, in its sole discretion, to refund a guests deposit and occupancy
charges for cancellation due to sudden death, serious illness, injury, acts of God, acts of
terrorism, government regulation, disaster, civil disorder, curtailment of transportation facilities, or
other similar occurrences. Our company does pride itself on committing guest to dates; however,
we also strive to fit into a global network of vacationers. Therefore, Stay City Rentals reserves
the right to make necessary judgments for cancellation claims that will promote itself as a caring
company.
Term and Termination
6.1 Term of Agreement
This agreement is effective on the date of execution and will continue for one (1) year unless
terminated earlier under the terms of this agreement.
6.2 Termination of Agreement
This Agreement may be terminated with one hundred and eighty (180) days written notice by
either party. In the event of Owner termination, owner is obligated to honor all outstanding
reservations or owner will be liable for costs associated with cancelling or rescheduling these
reservations. Termination will be effective on the latter of ninety (90) day notice or the departure
or cancellation (as the case may be) of the last outstanding reservation confirmed prior to the
receipt of written notice. Stay City Rentals and owner will settle all accounts promptly upon
termination of this Agreement.
Other Terms and Conditions
7.1 Indemnification Waiver
Except for damages caused by the gross negligence or willful misconduct of Stay City Rentals,
Owner agrees to indemnify and defend, and to release and hold harmless, Stay City Rentals
from and against any and all costs, expenses, attorneys fees, suits, liabilities, personal injuries,
damages, or other claims arising out of or relating in any manner to the premises and/or any of
its contents. For purposes of this paragraph, Stay City Rentals shall mean and refer to Stay City
Rentals, its successors and assignees, and to the members, partners, shareholders, officers,
directors, employees, agents and contractors of any of the members, partners, shareholders,
officers, directors, employees, agents and contractors of any of the foregoing. Stay City Rentals
will cooperate with Owner to the extent Owner seeks redress against any Guests for damages or
theft to the Premises and/or contents to the extent caused by such Guests.

7.2 Arbitration
In the event any dispute arises under or relating to this Agreement, Owner and Stay City Rentals
agree that, to minimize time and expense, such dispute shall be submitted to binding arbitration
within the county where the premises are located, which such arbitration shall be conducted
before American Arbitration Association under its then existing rules for commercial arbitration.
7.3 Signatory Authority
Any person signing on behalf of the Owner represents and warrants that s/he has the authority

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to enter into this agreement and lawfully undertake the obligations contemplated herein.
7.4 Limitation of Liability and Indemnification
The liability of Stay City Rentals and its officers, employees and agents shall be limited to the
amount of any fees received from the Premises. In no events shall Stay City Rentals or its
officers, employees, contractors or agents be limited to the amount of any fees received from the
premises. In no event shall Stay City Rentals or its officers, employees or agents be liable for
any special, consequential, incidental or punitive damages. Owner agrees to identify, defend and
hold harmless Stay City Rentals and its officers, employees and agents from and against any
liability for personal injury or property damage sustained by any person(including Guests) as a
result of any cause, unless such damage was proximately caused by gross negligence or willful
misconduct of Guests, Stay City Rentals or its employees.
7.5 Miscellaneous Terms
This Agreement constitutes the entire agreement of parties hereto as to the subject matter of this
Agreement, and no representations, inducements or agreements, oral or otherwise, not
contained herein shall be of any force or effect. Where Stay City Rentals is granted discretion,
actions may be taken as long as the action is not dishonest, motivated other than by
accomplishment of the purpose of this Agreement, or arbitrary without an exercise of reasonable
judgement.
This Agreement is binding upon and shall inure to the benefit of each party hereto, and their
respective agents, employees, heirs, successors and assigns. If more than one (1) Owner, the
obligations of Owner under this Agreement shall be joint and several. Any failure on the part of
any party to this Agreement to enforce any rights or remedy provided under this Agreement shall
not constitute a waiver of any right or remedy.

Stay City Rentals and Owner have executed this Agreements as of the date and year below.

Stay City Rentals

Owner

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Name:........................................................

Name .:...................................................

Signature:..................................................
Signature:...................................................

Date:. ................/...................../....................

Date:.................../................../.....................

NOTARY INSTRUCTIONS (Notary must read these instructions and provide notary based
on these instructions): PLEASE ATTACHED AN ACKNOWLEDGMENT TO THIS
DOCUMENT WITH OPTIONAL INFORMATION FILLED IN FOR RE: STAY CITY RENTAL
PROPERTY MANAGEMENT AGREEMENT AND NUMBER OF PAGES. PLEASE ALSO
INCLUDED IN THE OPTIONAL INFORMATION THE DATE THIS CONTRACT WAS SIGNED.
Attachments (TO BE COMPLETED/CREATED WITH OWNER AFTER SIGNING):
A Information About The Owner and Premises
B Rates and Fares- Supplied prior to this agreement.
C Owner Insurance Requirements- Please see Josh with Cbiz for this portion. If you decide
not to go with CBIZ you will need to provide proof that your owner insurance will cover shortterm rental damages and loss of income.
D Furnishing List - This list is supplied ahead of time for the necessary purchases.
However, is also updated before opening. Generally our property photos are excellent
documentation.
E Required Items and Recommended Changes
F Consumables and Supplies List (items the owner wishes to leave in the home for their returnor other guest. Generally Stay City Rentals covers soaps, shampoos, cleaning supplies.)
G Limited Inventory of Contents (items left in a locked closet within the premises that the owner
wishes to keep for personal use.
H Homeowner Statement list of specific monthly account including gross rental revenue, guest
names and dates, amount each guest charged, Stay City Rentals service, maintenance and
repair fees and net revenue to Owner.

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