Full Management Contract - Owners Terms and Conditions

This document contains the Terms & Conditions of a” Full Management Contract” between Tenerife Lettings and Property Management (TLPM) and the property owner (The Owner.)

1. The Owner agrees not to instruct any other agency to represent them whilst this agreement is in force.
2. There will be no fixed term to this contract. Either party may terminate this contract at any time by giving one month's written notice.
3. If terminated as in (2) above, both parties agree to honour any bookings/agreements in force on the day that written notice is delivered.
4. The Owner is entitled to unlimited use of the property but must obtain confirmation of availability in advance from TLPM.
5. The Owner is solely responsible for insuring the property and its contents for all risks.
6. The Owner is solely responsible for all bills, taxes (Spanish and UK) and liabilities arising from the property and its use, including but not limited to rates, community fees, water, electricity, gardening etc.
7. The Owner is solely responsible for ensuring that adequate linen, towels, blankets etc. are available for maximum occupancy of the property.
8. The Owner is solely responsible for ensuring that the minimum inventory requirements are met on an ongoing basis. TLPM will purchase items as instructed by the owner, accounting for such items within the monthly accounting.
9. TLPM is responsible for ensuring that properties are professionally cleaned and that fresh linen is supplied. Where Owners utilise the property in accordance with clause (4) above, the cleaning and linen services will be maintained and applicable debits will appear on monthly statements in accordance with clause (10).
10. TLPM will process an itemised statement at the end of each month for bookings completed in that month. Accounts must be settled within 7 days by either party.
11. An annual management fee of £100 is required. This will be held by TLPM as part of the contract and will be offset against any urgent repairs/maintenance necessary up to a maximum of £50 without the need to seek prior authorisation from the owner. Where repairs/maintenance costs are likely to exceed this amount, TLPM will seek authorisation prior to commencement of work. Accounting will be as in clause (10) above.