Greetings from Condo-World Resort Properties!

Transcription

1 Greetings from Condo-World Resort Properties! A vacation rental is a valuable investment, and finding the right company to represent your property is a very important decision. Please allow us to take this opportunity to introduce ourselves and tell you about our company, and most importantly, why choosing Condo-World to represent your property may be the best decision you ever make as a vacation homeowner. Since 1986, Condo-World has become widely recognized as the foremost name in North Myrtle Beach vacation rentals. We currently represent over 325 carefully selected condos and beach homes, all of which receive the highest level of care and attention to effectively maximize your return and ensure your property is kept in pristine condition. Potential homeowners often inquire about our occupancy rates. Occupancy is indeed important but not if it is achieved by offering your unit for far less than it is worth, resulting in abuse and excessive wear and tear to your valuable investment property. Our highest priority as your management company is to produce maximum rental income while keeping your unit in the best condition possible. Our homeowner and guest retention rate is unparalleled amongst our competition. We are extremely proud of the outstanding results we have continuously produced for our homeowners over the past decade. Thousands of our guests return to Condo-World year after year, a fact that is highly dependent on the excellent service they receive and the quality of rentals we represent. We look forward to speaking with you about how Condo-World can maximize the potential of your valuable investment property!

2 PoliCies & PRoCeDuRes DamaGe ContRol: All reservations are secured with a valid credit card or in some cases $400 cash deposits. Each guest is required to read and sign a guest registration form informing them of their responsibilities to the care of your property. Any damages (normal wear and tear excluded), will be at the expense of the guest or absorbed by Condo-World. CanCellations: Condo-World offers an optional travel insurance plan through CSA Travel for guest protection in any unforeseen emergencies. Owners will always be covered regardless of the optional insurance due to our non refundable cancellation policy. Refunds to guest without the insurance will be given in the event the unit is re-rented. Exceptions to the normal cancellation policy would apply to a golf package or a monthly rental reservation. Cancellations are then determined by management on an individual basis. Pets, smoking, House PaRties: All units are advertised and posted on confirmation information and guest registration as No Smoking. No Pets and No house-parties. These rules are enforced and taken seriously for any violators by the Condo-World Management team. owner ReseRvations: We have no restrictions on owner usage. Of course, the more you use the property the less potential rental income you will have. When making owner reservations you may use the convenience of the Owner s Closet owner request section or simply call an owner s representative to reserve your time. In both cases a confirmation will be sent via or US mail to confirm your dates. DisCounts and specials: We sometimes offer discounts and vacation packages to enhance rentals through our web site, direct mail and other print media. These discounts are at the discretion of the Condo-World management and marketing departments and are implemented to help generate additional and last minute reservations.

3 GettinG started It s easy to get started on our program because we have no deposit required nor do we have any escrowed funds required! Below you will find a few basic requirements for getting started: 1. keys Condo-World will need a key so that we may have duplicates made for guests and service vendors. An initial cost will be charged to your account and may vary depending on the type of key and the number needed. Also, please provide a key to any locked doors that may house hot water heaters or personal owner s items. These keys will only be used in an emergency situation and they are kept in a secure location. 2. CONDO BinDeR AND NO SMOKING SIGN Each property will need an information binder, featuring special instructions and pertinent information pertaining to your unit, the building and the local Community. Condo-World will personalize the binder using any special instructions you provide us about the property. The cost of the binder is only $10.00 and will be charged to your account on your first statement. Updates and changes can be made at anytime necessary and Condo-World will absorb the cost of these changes. No smoking signs are now mandated in each unit and help remind the guest that all of our properties are nonsmoking units. A small fee of $5.00 will be charged to the owner s account. 3. VIRTUAL FLOOR PLAN TOUR Each property will have a virtual floor plan tour designed by TruPlace for our website. The tour is hosted on TruPlace's website for quicker downloading. The annual hosting fee is billed to the owner. 4. Business license The City of North Myrtle Beach requires a business license for any owner on a rental program. Please contact the City of North Myrtle Beach for more information on the application and license fees at insurance PoliCy Condo-World requires each owner to have an HO6 Insurance policy prior to being on our rental program. 6. telephone access All property telephone accounts should be set up to give the guests access to locals calls and a block on long distance calls. Guests should be able to make long distance calls by credit card only. This can be accomplished by calling your telephone service representative. suggested kitchen BasiC RequiRements The kitchen should be stocked for 1.5 times the maximum number of persons your property will sleep. Use this number for your total stock of plates, glasses, cups, flatware etc. (Example a property that sleeps 8 persons should carry a basic stock for a party of 12.) Please keep for your reference. Items listed will be replenished by Condo-World on a per need basis. Coffee maker (electric drip) Toaster* (or toaster oven) Good quality pots and pans** Spatula Broiler pan Ice trays Electric mixer Measuring cups Serving utensils Large and * small frying pan Juice/iced tea pitcher Oven proof casserole dish with lid Bottle opener Flatware (spoons, knives, forks) Cereal bowls Pizza pan/bake sheet Electric can opener/cutting board Vegetable peeler Dinner plates Beverage glasses Coffee cups/mugs Set of large kitchen knives Pot holders Roasting pan Waste basket Whisk Large cooking pot Blender Colander Mixing bowls Properties that are 4 bedrooms or larger require a 4 slice toaster **Properties that sleep more than 12 people double pots and pans

4 frequently asked questions 1. How can the Condo-World rental program enable me to receive maximum income? Condo-World has the most fair and equitable program offered by any company on the Grand Strand. The basic concept is very simple yet effective. If a unit is held to high standards for maintenance and aesthetics, and is promoted effectively at rates reasonable to the current market the greater the rental income will be. Equipping your unit with updated televisions, DVDs, stereos, wireless internet and updated décor will help rent the property and assist in generating repeat business. 2. How is rental income determined and when is it paid to me? The Condo-World accounting and owner services department offers owners access to their property activity at any time. Owner disbursements are completed on the 15th of each month with a full statement of rental activity and any service charges. Statements can be viewed through the Owner s Site using a secure username and password. Rental income can be sent to you by direct deposit or a check by mail. The Owner s site also allows owner s easy accessibility to past, present and future activity of their property. Plus, an owner s representative is always available by phone to serve you! 3. How do you market my property? We promote our vacation rentals through online advertising, print campaigns, direct mail, and marketing. Our website consistently ranks in top positions on Google, Yahoo and Bing for major search terms relating to Myrtle/North Myrtle Beach condo and vacation rentals. Each year, our 32+ page full color rental brochure is sent out to 250k+ recipients, including our own guest history as well as inquiries from our local Chambers and other associations. Our marketing strategy is led by an in-house Marketing Director, who coordinates all efforts between a variety of graphic designers, web design and development firms, and media reps. 4. Do i get a 1099 at the end of the year? The Condo-World accounting department generates a letter with 1099 info and mails it to you no later than January 31 st. 5. Do i get a discount if i have someone interested in renting my unit? Yes, for owner referrals we reduce our commission by 5%. All that is necessary is that you call our office and give the guest the information and we will take care of them like a company generated reservation. 6. Do you hold a security deposit from your guests? Yes, in most cases a valid credit card is required at check in. For guests that do not use credit cards, a cash security deposit is requested. 7. How do guests reserve my property? Condo-World Vacation Planners are available 24 hours a day, 365 days a year in order to book every inquiry possible to your rental property. Guests can also book online any time of the day. 8. How is housekeeping handled? Condo-World hires 9 independently owned maid services and each are assigned designated properties. Using the same service for the same property enables better quality and care of your property. Each maid service offers departure cleanup and linens, (beds are made), for each reservation. 9. How are maintenance problems handled? We have an in-house maintenance department that will process all maintenance issues. When a problem arises, we check our records to see if you have any maintenance instructions and call the appropriate contractor to address the repair. The charges for those repairs will be included with your statement. We have a maintenance tracking system that can be customized to your needs. As always, an owner representative will keep you advised when major repairs are needed. 10. Who do i speak with if i have a problem? A member of our owner service department will gladly assist you. Condo-World offers 24 hour service to accommodate our owner s and guests. Our conveniently located reception center staffs full time year-round employees to assist our homeowners and guests. We also offer after hours emergency service and a 24 hour reservation service to meet every need of the vacation accommodations business. Some other Condo-World services which are included when you list your property with us: * Complete yearly inventory of your property with copies and recommendations by a qualified staff member * Vacuum cleaner bag changes and repair service on vacuums throughout the year or as needed

5 optional ServiceS MontHlY a/c filter and light BUlB MaintaineD Every month the A/C filters are checked, changed and dated to ensure optimum AC function. Light bulbs are checked throughout the unit four times a year and replaced when necessary. Also, smoke detector batteries are changed yearly with this program. This maintenance service is programmed as a yearly charge on your July owner s statement. This cost includes all materials and labor. Deep cleaning Deep cleaning is extremely important to ensure proper care and encourage repeat customers in your unit. A deep cleaning consists of a thorough cleaning from top to bottom, underneath and behind everything! All deep cleanings are inspected by a Condo-World employee to ensure nothing is missed! *Additional charges for cleaning bedspreads, mattress pads, blankets, carpet and upholstery cleanings on a as needed basis preventative HeatinG/coolinG SYSteM Maintenance We have contracted with a company, Ductworks Heating and Cooling, which has shown us exceptional service and great prices. They have many different service plans that include cleaning the coils, checking all components and refrigerant pressures, plus much more. optional ServiceS: Preventative Maintenance Filters, Light Bulbs, Smoke Detectors Bed Bug Mattress & Box Spring Protectors HVAC Preventative Maintenance Complete System Check Twice a Year optional off-season ServiceS: Unit Deep Cleaning Carpet Cleaning Upholstery Cleaning Tile and Grout Cleaning Includes Dinning, Kitchen, Hall and Bath Dryer Vent Cleaning Fridge Coil Cleaning Power Wash Balcony One Time HVAC Coil Cleaning Programmable Thermostat Other services available by request. Inquire for current prices. Building and unit # Owner s signature

6 Condo World of the Grand Strand, Inc. Rental Management Agreement This agreement is made this day,, for the exclusive management and rental of the following described property between Condo World of the Grand Strand, Inc. (Agent) and Owner (whether one or more) named below. Agent may start rentals on. Property Name: Unit #: Address: Owners Name: SS or Federal ID #: Address: City, St, Zip: (H) Phone: (W) Phone: (C) Phone: Alternate Contact (Name & Number): Agent s Responsibilities: 1. Agent agrees to actively promote and advertise group and individual rentals to the above property. 2. Agent agrees to collect all rents, handle payments of charges and expenses, and disburse net income to Owner with a statement on or before the end of the month following the month in which the occupancy was consummated. 3. Agent will operate and maintain a reservation system through which all rental reservations for the property shall be processed. 4. Agent will accept reservations for the property up to twelve (12) months in advance. 5. Agent will offer guest Travel Insurance to ensure no loss of rental income for the owner and fair reimbursement to the guest. We do not offer Travel Insurance to golfing groups. In the event a reservation of this type is cancelled, the guest would receive reimbursement and every effort would be made by the agent to secure a new guest reservation. 6. Agent will establish fair, reasonable and competitive base rental rates having due regard for the property s location, size, condition, and amenities. 7. Agent shall have the right to reduce the rental rate of the property. The Owner must initial here if no discounts or limited discounts are desired. Define limited discount allowed 8. Agent shall use its experience in the rental market to rent the property on a daily, weekly, and monthly basis. [ ] Owner(s) [ ] Agent

7 Owner s Responsibilities 1. Owner shall honor all reservations confirmed with a deposit. 2. Owner agrees Agent will be the sole rental management company of the property. Owner will not rent the property to another party. 3. Owner will notify Agent of dates the property will be occupied by the Owner. Owner shall only enter the property during the confirmed times of occupancy by Owner. 4. Owner agrees to keep, and allow Agent to keep on his behalf the property in first class condition. Owner agrees to keep unit fully furnished and supplied with at least the Basic Requirements List provided by the Agent. 5. Owner agrees to notify Agent when the property is listed for sale. Owner shall also notify listing real estate agent of Rental Management Agreement. Pursuant to SC Vacation Rental Act all confirmed vacation rentals must be honored for 90 days after the recording of the deed. 6. Owner shall provide Agent with a key to any locked closet containing equipment, including, but not limited to water heater and air handler. 7. Owner agrees to notify Agent with any changes or additions to the rules and regulations the homeowners association adopts that is associated with rentals. 8. Owner agrees to maintain utility services on an uninterrupted basis. 9. Owner agrees to provide a list of all warranties and maintenance contracts to Agent. 10. Owner agrees to have property deep cleaned at least once a year. Agent s housekeeping service is available for this service and rates are determined annually. 11. Owner agrees that Agent may offer rebates in the event that the Guest experiences difficulties with the property and/or legitimate complaints. If a rebate is not acceptable the Guest may be moved to another rental property. Rebates and transfers shall be at the Agents discretion. 12. To indemnity, save and hold harmless the Agent from and against all claims, suits, damages, costs, losses, and expenses arising from injury to any person or property occurring on or about the said property. The Owner agrees to maintain liability insurance (HO6 Policy) of at least $300,000 per occurrence for personal injury or property damage. Commissions and Fees 1. Owner shall receive eighty percent (80%) of the negotiated rental rate less linen/cleaning fees and any other fee/expense related to the rental property. Reduced 5% for Owner Referral Reservations. 2. Agent shall provide linens and departure cleaning to each guest reservation. These fees are added to the rental rate of the property determined by Agent. The published rate includes the rental rate and linen/cleaning fees. Agent s management fee is based on the rental rate only. 3. Owner shall receive three (3) reduced Owner departure cleans each year. The owner shall pay the full departure cleaning fee after three reduced cleaning fees are used or clean themselves. 4. The Owner agrees to pay credit card fees of 1.5% on gross rental income. Maintenance 1. Owner authorizes the Agent to perform services and to replace parts and materials on any service call up to an aggregate charge of $175 per service call. Should the charge exceed $175 the Agent will use all reasonable means possible to inform the Owner in advance and bill accordingly. If the Agent is unable to contact the Owner the Agent will make a choice on how to proceed. [ ] Owner(s) [ ] Agent

8 2. Owner authorizes the Agent to perform preventative maintenance, at the expense of the owner, including, but not limited to smoke detector batteries, a/c filters, and light bulbs. The current annual fee is and includes labor, regular light bulbs, and a/c filters. This fee is applied to the Owner s July statement annually and will be prorated if the agreement is terminated. This service is optional. Initial here to decline this service. General 1. Agent may modify this agreement at any time with a written 30 day notice to Owner. 2. It is mutually agreed that all parties will strive to meet Guest satisfaction. 3. Monthly statements are available online, world.com, in the Owners Closet link and are only mailed by request. A username and password are required to access the Owners Closet. By default your username is your last name and password is the last four of your SS or Federal ID #. If you would like to choose a different username and password please indicate here 4. Direct deposit of rental income is available and encouraged. 5. No reservation can be guaranteed until Guest checks in and is satisfied. 6. This agreement will automatically renew for one additional year. This agreement can be cancelled by either party with a written 90 day notice. 7. Any violation of this agreement will result in immediate termination of this agreement. 8. Owner shall store his property in the premise at his own risk. Agent assumes no liability for the loss or damage of any property stored in the premise. 9. Agent shall not be liable for any loss or damage to the property or equipment, furnishings, or appurtenances thereto or to property of any nature brought thereon resulting from any accident or occurrence in or upon the premise or to the building of which they are apart including, but not limited to, claims for damage resulting from negligent or willful action or omission of renter or their guest; injury done or occasioned by wind, rain or other elements; theft; vandalism, fire or acts of God; or loss of rental income because of the above. 10. The undersigned Owner warrants that his is the Owner of record of the property and/or has the authority to execute this agreement. 11. This agreement shall insure to the benefit of the constitute a binding obligation upon the Owner, Agent, their successors, heirs, assigns, or personal representatives. This agreement shall constitute the sole and entire agreement between parties. IN WITNESS WHEREOF, the parties have caused this management agreement to be duly executed as of the date first above written. Owner(s) Signature Date Condo World, as Agent Allison Jeffries, Property Manager Date Print Signature Date Condo World Representative Date Roy L. Clyburn, President Date Print [ ] Owner(s) [ ] Agent

9 Property Information Required Property Management Co. Phone Property Phone: # of Bedrooms: # of Bathrooms: Bed Sizes: Max. Occupancy: # of Flat Panel TVs: # of DVD Players: # of Regular TVs: Internet: Wireless Ethernet Cord None Provide username and Password (if applicable): Please check all items that apply to your property: Outdoor Pool Elevator Tennis Courts Outdoor Jacuzzi Indoor Pool Motorcycle Parking Outdoor Kiddie Pool Indoor Jacuzzi Jacuzzi/Garden Tub Outdoor Lazy River Indoor Kiddie Pool Dishwasher Fitness Room Indoor Lazy River Washer BBQ Grills Restaurant/Bar Dryer Other Supplies/Services/Amenities (Stereo, Premium Channels, etc or any other building amenities): Service Agreements Please list any service agreements and contact information with the agreement expiration date:

10 Direct Deposit Authorization of Homeowner s Checks For Homeowner Homeowner Name: Building: Unit Number: I hereby authorize Condo World, Inc. to initiate credit entries to my: Checking account or Savings account Indicated below and the depository named below (depository) to credit the same to such account. Account Number: Depository (Financial Institution): City: State: Bank ACH Transit Routing Number: This authority will remain in full force and effect until Condo World, Inc has received written notification from me of its termination in such time and in such manner as to Condo World, Inc. a reasonable opportunity to act on it. Condo World, Inc. is not responsible for any bank fees related to expenditures made before an ACH deposit in your account. It is your responsibility to verify that the funds are in your account before you spend them. I UNDERSTAND AND AGREE TO THE TERMS OF THIS SERVICE. Signature: Date: CONDO WORLD, INC th Ave. South North Myrtle Beach, SC ** An actual voided check must be attached** STAPLE VOIDED CHECK HERE This form will not be processed without a voided check

11 Form W-9 (Rev. August 2013) Department of the Treasury Internal Revenue Service Name (as shown on your income tax return) Request for Taxpayer Identification Number and Certification Give Form to the requester. Do not send to the IRS. Print or type See Specific Instructions on page 2. Business name/disregarded entity name, if different from above Check appropriate box for federal tax classification: Individual/sole proprietor C Corporation S Corporation Partnership Trust/estate Limited liability company. Enter the tax classification (C=C corporation, S=S corporation, P=partnership) Other (see instructions) Address (number, street, and apt. or suite no.) City, state, and ZIP code Exemptions (see instructions): Exempt payee code (if any) Exemption from FATCA reporting code (if any) Requester s name and address (optional) List account number(s) here (optional) Part I Taxpayer Identification Number (TIN) Enter your TIN in the appropriate box. The TIN provided must match the name given on the Name line to avoid backup withholding. For individuals, this is your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For other entities, it is your employer identification number (EIN). If you do not have a number, see How to get a TIN on page 3. Note. If the account is in more than one name, see the chart on page 4 for guidelines on whose number to enter. Social security number Employer identification number Part II Certification Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and 2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding, and 3. I am a U.S. citizen or other U.S. person (defined below), and 4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct. Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. See the instructions on page 3. Sign Here Signature of U.S. person General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Future developments. The IRS has created a page on IRS.gov for information about Form W-9, at Information about any future developments affecting Form W-9 (such as legislation enacted after we release it) will be posted on that page. Purpose of Form A person who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) to report, for example, income paid to you, payments made to you in settlement of payment card and third party network transactions, real estate transactions, mortgage interest you paid, acquisition or abandonment of secured property, cancellation of debt, or contributions you made to an IRA. Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN to the person requesting it (the requester) and, when applicable, to: 1. Certify that the TIN you are giving is correct (or you are waiting for a number to be issued), 2. Certify that you are not subject to backup withholding, or 3. Claim exemption from backup withholding if you are a U.S. exempt payee. If applicable, you are also certifying that as a U.S. person, your allocable share of any partnership income from a U.S. trade or business is not subject to the Date withholding tax on foreign partners share of effectively connected income, and 4. Certify that FATCA code(s) entered on this form (if any) indicating that you are exempt from the FATCA reporting, is correct. Note. If you are a U.S. person and a requester gives you a form other than Form W-9 to request your TIN, you must use the requester s form if it is substantially similar to this Form W-9. Definition of a U.S. person. For federal tax purposes, you are considered a U.S. person if you are: An individual who is a U.S. citizen or U.S. resident alien, A partnership, corporation, company, or association created or organized in the United States or under the laws of the United States, An estate (other than a foreign estate), or A domestic trust (as defined in Regulations section ). Special rules for partnerships. Partnerships that conduct a trade or business in the United States are generally required to pay a withholding tax under section 1446 on any foreign partners share of effectively connected taxable income from such business. Further, in certain cases where a Form W-9 has not been received, the rules under section 1446 require a partnership to presume that a partner is a foreign person, and pay the section 1446 withholding tax. Therefore, if you are a U.S. person that is a partner in a partnership conducting a trade or business in the United States, provide Form W-9 to the partnership to establish your U.S. status and avoid section 1446 withholding on your share of partnership income. Cat. No X Form W-9 (Rev )