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Rental Agreement

Rental Agreement

This Agreement shall be valid only if all requested information is completed and the form is not otherwise altered. A HeavenlyVillageCondos.com (“HVC”) representative will sign and return a copy of this Agreement after completion. Do not consider your residence(s) accepted in to the Program until the signed copy is returned to you.

Term of Agreement

The Term of this Agreement will commence on the date signed below and continue for the calendar year in which owner provides weeks for listing or until terminated in writing by either party. 

General

  1. This Agreement shall be governed by the laws of the State of Nevada.
  2. If any provision of the Agreement is determined to be illegal, invalid or unenforceable, there will be added in lieu thereof a provision as similar in terms to such provision as is possible and which is legal, valid and enforceable.
  3. HVC shall have the option to terminate this Agreement by written notice to the Member upon sixty (60) days notice.
  4. No change in or addition to, or waiver or termination of this Agreement or any part thereof, shall be valid unless in writing and signed by both parties.
  5. No waiver of any breach of any of the provisions of this Agreement shall constitute a waiver of any succeeding or preceding breach of the same, or of any other provisions of this Agreement.
  6. Notwithstanding paragraph 7 below, except as otherwise provided in this Agreement, no party shall assign or transfer or permit the assignment or transfer of this Agreement without the prior consent of the other. HVC shall have the right without consent to assign its interest in this Agreement, at which time HVC shall be relieved of its obligations under this Agreement and the assignee shall be deemed to be such assigning entity for purposes of this Agreement.
  7. If Member sells, transfers or otherwise conveys their interest in the Residence, such sale shall be specifically subject to this Agreement and any rental reservations confirmed as of the date of such sale, transfer or conveyance.

Member's Responsibilities

  1. Member agrees that HVC does not guarantee rental of nights listed in the Program. Past rental results are no guarantee of future performance.
  2. Member agrees that during the Term of this Agreement, HVC shall be the exclusive rental agent of Member, and Member agrees that it shall not list or rent the accommodations through another agent or broker.
  3. Member shall pay to HVC a commission equal to sixteen percent (16%) of the Base Rental Amount, which HVC will withhold from payments made by persons renting Member’s residence.
  4. Member acknowledges that HVC will also withhold from the Gross Rental Amount for City Of South Lake Tahoe Transient Occupancy Tax and Tahoe Improvement District fee, as well as Marriott Preventative Maintenance Fee. HVC will remit these amounts to City and to Marriott.
  5. Member acknowledges that HVC will not withhold or submit any fees or taxes required by County of El Dorardo, State of California, or U.S. Internal Revenue Service. Reporting and payment of such fees and taxes are the responsibility of the owner.
  6. Member agrees to stay in good standing with Marriott Vacation Club International (MVCI) in regards to Operating Fees, Replacement Reserves and any other assessment. If Member’s ownership weeks are blocked from use by MVCI, they are unable to be occupied by Member or rental guests. HVC may negotiate with MVCI to pay rental proceeds directly to MVCI instead of Member in order to secure occupancy for a confirmed rental guest.
  7. Member agrees to refer any potential renters or rental inquiries to HVC.
  8. Member agrees to refer fellow owners to Program.
  9. Member agrees that if payments made by persons renting Member’s residence are by credit or debit card, HVC will assess a fee of three percent (3.00%) of the Entire Rental Amount, which HVC will withhold from payments made to owner.
  10. HVC will provide Member with the Planner in the Spring of each year. Member agrees to complete and return Planner within thirty (30) days of receipt.
  11. If Member chooses to change Planner, it must provide HVC written notice of such changes. HVC will try to accommodate such changes. If the Member’s residence already has a confirmed reservation from a renter that cannot be re-accommodated, Member’s residence may not be available for use by Member.
  12. Member agrees that it must indicate on Planner desired rental rates for each night listed in the Program. Planners that do not have rental rates indicated will not be accepted for rental listing 
  13. Member will complete and return an "Authorized User Form" with Grand Residence Member Services indicating Heavenly Village Condos as authorized representative.

HVC’S Responsibilities

  1. Once Member’s residence is committed for rental pursuant to this Agreement, HVC shall market Member’s residence to prospective tenants provided the type, manner, methods and expenses of such marketing shall be at HVC’s sole discretion.
  2. HVC will accept only the Member’s full residence for rent. Lock-offs and partial residences will not be accepted.
  3. Member acknowledges and agrees that HVC will be renting other Member’s residences. In doing so, HVC agrees to act reasonably and fairly in apportioning its efforts to rent all Members’ residences, without preferring one Member over another.
  4. HVC shall have sole discretion over the policies of the Program, including, without limitation, the terms and conditions of deposits required from renters, the confirmation and cancellation windows regarding reservations.
  5. HVC will secure a Vacation Home Rental permit from the City of South Lake Tahoe for each member, and pay the annual fee, which will then be deducted from a future payment to the member.
  6. HVC will remit any rental proceeds due to Member within thirty (30) days of the end of the rental period.
  7. If the Member is a non-resident alien, HVC is required by law to withhold thirty percent (30%) of the Net Rental Amount and handled as required by the Internal Revenue Service.
  8. HVC shall provide Member a Federal 1099 Miscellaneous Income form in January of each year. Rental proceeds may be subject to taxation.
  9. HVC shall not be held liable for the acts, negligence or other acts by tenants of the Member’s residence, nor for damage caused by tenants or their guests.

Owner's Access Program

  1. Participation in the Program entitles Member use of the HVC Owner’s Access Program (“OAP”). Owner may use another Member’s residence at the resort on a space-available basis subject to the following: (i) requests may not be made earlier than 48 hours prior to arrival, (ii) member is limited to nights available in ownership week, (iii) member pays a $25 administration fee to HVC.
  2. Member will not be charged rent for use under the OAP. However, Member is responsible for paying any optional and mandatory cleaning fees directly to resort.
  3. Member agrees that its residence may be made available to other Members. Member will not earn any rental income for nights used under the OAP.
  4. Member participation is voluntary.