OCMD Listing Agreement

Vacation Rental & License Listing Agreement

This Vacation Rental & License Listing Agreement (“Agreement”) shall be effective upon the date of full execution (“Effective Date”) by and between Long & Foster Real Estate, Inc., Vacation Rental division (“Broker”), and the undersigned owner (“Owner”) and pursuant to the terms hereof, Broker is hereby authorized to act as the Rental Broker for the undersigned Owner under the following terms: .

AUTHORIZATION:This Agreement shall govern the terms and conditions of Broker’s representation of the Owner in connection with listing and reserving the rental property located at (property address), (the “Unit”). The Owner further represents that he/she is the Owner of the subject Unit or is duly empowered by the Owner to sign this Agreement and, by signing, hereby authorizes Broker to prepare and sign on his/her behalf any lease or lodging agreement with a short-term tenant (“Guest”) for the Unit which is in conformity with all the terms and conditions under which the Unit is offered for rent (including, by way of illustration, the minimum rental period, rental rate and occupancy limitations, etc.). The Owner, having named Broker as rental agent for the Unit, and by execution of this Agreement authorizes Broker to procure renters for the Unit for the period the Owner wishes to offer the Unit for rent at the rates and on the terms specified and in accordance with the Rental Property Rate and Amenity Information Sheet attached hereto as Exhibit A. It is expressly agreed that this Agreement shall not be effective unless and until the Rental Property Rate, Amenity Information Sheet, Proof of Ownership and W-9 are completed by Owner and provided to Broker. Owner shall update the Rental Property Rate, Amenity Information Sheet, Proof of Ownership and W-9 on an annual basis and provide them to Broker.

EFFECTIVE DATE & AUTOMATIC RENEWAL:This Agreement shall automatically renew on a year to year basis unless terminated by either party hereto upon ninety (90) days written notice. Should termination of this Agreement occur, all reservations confirmed with an advance Deposit shall be honored by the Owner with no exception. Provided however, that after termination of this Agreement, in the event of a Guest cancellation, Broker shall not be obligated to re-rent the Unit for the same time period to make up for lost rent should Broker no longer be your listing company.

COMMISSIONS & FEES: : Owner agrees to pay Broker a commission on gross rental payment(s), pursuant to the current Property Rate Sheet at the following rates:

1. 16% of total rent if Broker procures a Guest;
2. 10% of total rent for a Guest procured by Owner;
3. 16% for seasonal rentals (rentals longer than three (3) weeks).

DEPOSITS: : Broker shall require each Guest to provide a deposit (“Deposit”) to reserve the Unit. Interest on advance Deposits, if any, shall be the property ofthe Broker. Upon Guest check-in for the reserved rental Unit, theDeposit forthe Unit, shall be disbursed to Owner, minus the commission earned by Broker, on a bi-weekly basis. In the event that commission is due in excess of the Deposit amount, the Deposit shall not be disbursed to the Owner and any remaining balance on the commission payments shall be deducted from any subsequent rental payment received by the Broker from Guest until the commission is paid in full. It is agreed that all Deposits provided by Guests shall be nonrefundable except in the event of a breach of a Lodging Agreement by Owner. Specifically, a Deposit may be returned to a Guest by Broker if the Unit is unavailable, the condition is unacceptable, or the Unit is otherwise in violation of the terms of this Agreement and Broker is required to relocate a Guest. Broker shall also have discretion to refund a Guest Deposit in exceptional circumstances related to the Unit. Exceptional circumstances allowing Broker to refund the Guest Deposit includes when a reservation is cancelled due to a government mandate. A reservation canceled due to exceptional circumstances with a Deposit paid that is transferred forward will be refunded in full if the rental Unit becomes unavailable prior to the later rental period (ex. The Unit is sold.)

ADVERTISING: : Owner hereby authorizes Broker to display the Unit and details of the Unit online including Broker’s website, affiliated web-portals and/or syndicated feeds and, to the extent available, accept on-line reservations. Owner further authorizes Broker to display “For Rent” sign on Unit where such is feasible and permissible.

RATECHANGES: :Rate changes must be received by October 1st to become effective for the following year. It is hereby understood and agreed that the advertised rate for the Unit may include additional fee(s) payable by the Guest to the Broker for additional services and therefore, the advertised “rent” may appear to be higher than the actual rent paid to Owner. It is further understood that Broker shall charge each Guest a processing fee on each period of Guest occupancy in addition to the commission listed above to defray booking and processing costs.

OWNER-HELD DATES:: Owner agrees to provide Broker a minimum six (6) week period during the period from June 1st through August 30th (“Peak Season”) during which the Unit shall be available for rental. Owner shall communicate any Owner held dates during the Peak Season on or before October 1 of the preceding year. All reservations, licenses and Lodging Agreements shall be honored by the Owner whether or not the Owner has been notified. Broker is specifically authorized to relet the Unit when the Guest is in default, either because of their absence, or for other reasons set forth in the Lodging Agreement. Owner has specified in the attached Exhibit A the periods of time to be held for Owner use. If owner decides to place an Owner Hold during the time-frame of a previously cancelled reservation, owner must return any funds collected on the cancelled reservation. It is expressly understood that all reservations, licenses or Lodging Agreements, tentative or confirmed, shall be honored by the Owner and that a Guest shall not be moved to another Unit for the Owner’s use or use by Owner’s personal guests.

OCCUPANCY RULES: : Owner agrees that occupancy use of the Unit either by Owner or Owner’s personal guests shall be subject to the occupancy rules, including check-in and check-out times, as established by the Broker. If the Unit is occupied by Owner or Owner’s guests after 10 a.m. on their check-out day, Broker shall have the option, in its sole discretion, to relocate a Guest to any available Unit pursuant to this Agreement.

OWNER USE: When Owner desires to occupy the rental Unit, Owner must adhere to the following procedure:
1. Contact Broker to determine availability of Unit or check availability on-line; 2. Request that Unit be blocked for owner use if desired dates are available; 3. Schedule cleaning and linen service (if applicable).

OWNER STATEMENTS: Broker will process and remit all invoices and rent payments less disbursements by the 15th day and last day of the month after receipt by Broker of each rental or deposit payment. Even if payment has been previously sent to Owner, as will often be the case, rental proceeds are not deemed earned until the occupancy period associated with such rental proceeds has occurred and therefore, may be refunded in the event of a breach of the Lodging Agreement by Owner as provided herein. Broker shall disburse any rent paid by a Guest to Owner pursuant to the terms of this Agreement. Broker shall use reasonable efforts to collect all rental proceeds due for Owner; however, Broker shall not be liable to Owner for rental proceeds which cannot be collected for any reason, including, but not limited to, credit card charge-backs, bounced checks or fraud. Broker will submit a complete accounting for all receipts, taxes, and disbursements. Broker shall not be obligated to make any legal demands or undertake any litigation on behalf of the Owner.

REGULATIONS & INDEMNIFICATION:Owner represents to Broker that Unit is in compliance with all local, state and federal regulations pertaining to the health and safety of occupants of the subject Unit, including but not limited to the installation of operative smoke detectors and suitable water for drinking. Owner affirmatively represents that he/she has obtained all required rental licenses with the appropriate municipal authority.Owneracknowledges thatmaintainingthese licenses is an obligation ofthe Owner andnotthe Broker. If applicable, Owner shall provide a copy of any rental licenses to Broker upon execution of the Agreement and shall provide proof of annual renewal of any such licenses. Owner further agrees to promptly take all necessary steps to comply with changes in these regulations at the expense of the Owner. Both parties agree that Broker is not responsible for ensuring that the Unit is in compliance. Owner shall and hereby does indemnify and hold harmless Broker and Broker’s agents, directors, and/or employees from and against any and all claims, suits or damages of any kind arising in any way to non-compliance with said regulations.

OWNER OBLIGATIONS: Unless otherwise provided, Owner shall be responsible for paying all costs and expenses associated with the operation and maintenance of the Unit as a vacation rental accommodation. Such expenses shall include but are not limited to: all income taxes, rental or business licenses, utilities, trash collections, pest control, hot tub and pool maintenance (if applicable), locksmiths, outside maintenance, including lawn or yard care, snow removal, property taxes, condo/HOA assessments, mortgage payments (if applicable) casualty/liability insurance premiums (in amounts required by applicable law) and other costs associated with the maintenance of the Unit. Broker shall not be responsible for any late payment penalties, disconnect/reconnect fees, or other charges, which may be incurred by Owner. Under no circumstances shall Broker be obligated to pay any obligation on behalf of Owner with Broker’s own funds.

CLEANING OF PROPERTY:
A. CLEANING SERVICE: Broker shall assign a cleaning vendor for the Unit unless notified in writing by Owner to use an Ownerpreferred service or private cleaner. Any cancellation of a cleaning scheduled by Broker must be received no less than twenty-four(24) hours in advance or cleaning fees may be incurred. Broker shall, on Owner’s behalf, engage suppliers to clean, service the Unit at such times as Broker, in its solediscretion, deemsnecessaryor appropriate.Broker will use due care in the selection of such suppliers or service providers but shall not be responsible for the performance of suchservicesorproducts.Ownershall promptly pay Broker upon receipt of an invoice via credit card or check or Broker may deduct such fees, expenses, and charges from Owner’s rental account if sufficient funds are available. When Unit cleaning is scheduled by the Owner, or Owner’s selected cleaning service, Broker remains authorized to have Unit cleaned after each Guest occupancy period in the event that Owner does not schedule cleaning, or upon inspection, Owner-contracting cleaning is found to be unacceptable; in which case Broker shall have the Unit re-cleaned and the cost shall be charged to Owner.
B. SPRING CLEANING:Broker shall have Unit thoroughly “spring cleaned” at Owner’s expense paid by credit card or checkpriorto each summerrental season unless Ownernotifies Broker byMarch 31st of each year that Broker is not to schedule such cleaning. In the event that Owner decides to undertake such a cleaning, Owner agrees to have carpets, bedspreads, bedpads, blankets andthrowrugs launderedand/or dry-cleaned at Owner’s expense by May 1st of each year or on a monthly basis as needed. Broker is hereby authorized to schedule and secure “spring cleaning” at Owner’s expense if, on or after May 1st, Owner not completed the same. Broker shall not be held responsible for any negligence occurring from cleaning companies whether or not hired through Broker. Normal cleaning of the Unit shall occur after each occupancy of a rental Guest at the expense of the Owner.
MAINTENANCE & EMERGENCY REPAIRS:Owner agrees to have mechanical systems and appliances serviced regularly andin goodworking order. Brokeris authorized to expend such sums as in the Broker’s discretion that may be necessary to make the Unit habitable, including but not limited to reasonable repairs and cleaning, and to deduct said sums from rental payments. Owner hereby authorizes Broker to replace or repair any damaged items up to a value of ONE HUNDRED FIFTY AND 00/100 DOLLARS ($150.00) at the Owner’s expense. Owners are required to replace or repair major appliances including, but not limited to, TV’s, VCR’s, DVD players, washers, dryers, refrigerators, ranges and heating systems within 48 hours of notification or attempted notification of malfunction. In the event that a repair cannot be made within 48 hours, the amount of rebate will be as follows: Central Air Conditioning 20%, Refrigerator 20%, Range 20%, Washer 10%, Dryer 10%, Dishwasher 10%. Owner also agrees to supply firewood if the Unit is equipped with fireplaces and/or wood burning stoves at the Owner’s expense. Owner understands repairs to screen doors, bi-fold doors, hardwood/tile floors, glass top tables, and window blinds are considered ordinary wear and tear and are not the responsibility of the Guests or Broker. If applicable, all servicing of hot tub or pools must be provided by a Certified Pool Operator. Owner will be responsible for providing two (2) filters at all times for the hot tub at their expense.

ACCIDENTAL DAMAGE WAIVER:An Accidental Damage Waiver (“Damage Waiver”) shall be charged to each Guest, in addition to the advertised rate for the Unit, which is charged by Broker for protection of the Unit in lieu of a damage deposit. TheDamageWaiveris part of Broker’s rental contract with theGuest. This Damage Waiver fee reimburses Owner for accidental damages caused by Guest up to $1,000.00 (“Maximum Coverage Amount”) as longas the damage to the Unit is not the result of willful, wanton or grossly negligent behavior of Guest. TheDamage Waiver does not cover damages caused by pets so an additional Pet Deposit may be charged at Owner’s discretion. However, if the damages exceed Maximum Coverage Amount or are of willful, wanton,gross negligent behavior orcausedbyGuests’pets,theDamage Waiver programshallnotapplyand Broker will notify any such Guests of their duty to reimburse any loss incurred by the Owner. In no event shall Broker be liable for damages caused by Guest or their, guests, invitees, visitors or any other person or animal provided with access to the Unit by the Guest.

TERMINATIONOFRENTAL:The Broker is authorized to terminate any Lodging Agreement if, in Broker’s sole discretion, the Guest(s),or their invites, is suspected to have engaged in objectionable or illegal behavior, or the Guest(s) are in breach of the Lodging Agreement. Broker may pursue appropriate legal remedies where required.

REBATES & REFUNDS Broker is authorized to terminate any Lodging Agreement, lease or license and refund any Security Deposit, rent, or fee at Broker’s sole discretion. Broker is also authorized to refund any deposit, rent or fee, or any portion there of, in the event that, in Broker’s sole discretion, the Unit is in disrepair, unfit for occupancy, or not adequately furnished in accordance with advertisements.

MINIMUM STANDARDS: The Unit must be maintained at a clean and high-quality standard. Periodic inspections will be done throughout the year. Owners of Units failing to meet a quality standard will be given written notice to make recommended changes and/or upgrades. In the event Owner fails to bring the Unit up to standard within seven (7) days, or as reasonably practicable thereafter, Broker reserves the right to terminate this Agreement and relocate the Unit’s pending and reserved Guests to another unit; thereby canceling all pending and confirmed reservations for the Unit. In such event, Owner shall have no claim to any rent or deposits for any Guests that are relocated and hereby releases Broker from any such claims. Owner shall refund any prior Deposits or rental payments received in such event as well.

KEYS & ASSOCIATIONREGULATIONS: Owner will furnish the Broker with no less than 8 keys, if applicable, or Broker will have them made and charged to owner. Owner must furnish Broker with required parking permits and rules and regulations as required by their building, condominium, or Homeowners’ Association. Owner will also post rules and regulations of said condominium/Homeowners’ Association in Unit. Keyless entry may be available for an additional fee.

INSPECTIONOF UNIT: Broker’s acceptance ofthis Agreementis subject to satisfactory inspection ofthe Unit withinten (10) days from the date herein and periodic inspection of said Unit thereafter for the purpose of compliance with this Agreement.

FURNISHINGS:The Owner acknowledges that in order for the Unit to successfully be rented to the general public by Broker as a vacation accommodation, it must contain furnishings of high quality. Owner agrees to keeptheUnitfurnished in amanner acceptabletotheBroker.Such furnishings shall include, but notlimited to, appropriate furniture in each room to accommodate the number of guests which the Unit sleeps. Upon execution of this Agreement, Broker shall provide Owner with a more detailed list of required furnishings; such list may be revised at Broker’s discretion from time to time throughout the Term of this Agreement.

SERVICE COMPANIES: Broker shall attempt to use the service companies, if any, listed by Owner on Exhibit A. Owner agrees to permit Broker, at its discretion, to employ the necessary service companies, but also agrees that Broker may employ any service company that will respond if designated company cannot respond within the same day for the request for service.

SALE OF PROPERTY: Owner shall notify Broker prior to or immediately upon listing of the Unit for SaleIf the Unit is sold, Owner recognizes that theUnit shall beconveyedsubject to theconfirmedreservations already booked and shall notify purchasers of same prior to the transfer of title to the Unit.If Guests must be relocated as a result of the sale of the Unit, any expenses incurred in said relocation shall be the responsibility of the Owner, along with any and all commissions due. Unless directed in writing to the contrary by Owner, Broker shall not be permitted to release information on rental history of Unit, including gross rental income, commissions, Unit expenses, and maintenance records to real estate agents and prospective buyers. Upon notification that the Unit is listed for sale, Broker shall provide a Sales Rental Addendum provided by Broker and shall incorporate that addendum into their sale of property listing agreement and contract(s) of sale.

INSURANCE & LIABILITY: The Owner agrees to release, save and hold harmless the Broker from any and all damages, claims and/or suits in connection with the rental of the Unit, damages to the Unit in connection with said rentals, and from liability from injury suffered by any Guest, employee or other person whomsoever, unless caused by the willful conduct or gross negligence of the Broker. Owner shall carry, at Owner’s own expense, adequate liability, property and casualty insurance for the Unit. Owner is required to comply with any applicable laws regarding the types of insurance and to maintain the necessary amount of coverage.

LOST RENTALS: In the event the Owner cancels any reservation for any reason, Owner hereby agrees to pay Broker for any commissions Broker has earned for reservations already confirmed that have to be canceled or transferred.

RENTAL CANCELLATIONS: If Guest cancels the rental reservation in default of this Agreement, Owner may pursue damages against the Guest. Notwithstanding the foregoing, Broker has no duty to pursue damages. Broker shall be entitled to retain its commission from the initial Deposit on each confirmed reservation which is improperly cancelled by Guest. Notwithstanding the “Deposits” paragraph above, on reservations that are cancelled improperly the initial Deposit shall be forfeited and disbursed to Owner and Broker according to commission rate listed in COMMISSION &FEES paragraph, even if Broker is unable to rent Unit at the same or greater rate.

DESIGNATED OWNER: Only the designated Owner listed is permitted to reserve the Unit, schedule, or cancel cleaning, schedule or cancel owner reservations, or authorize any changes to this agreement. Any changes to the agreement must be in writing and emailed, mailed and/or faxed to Broker at above address.

UNDERCONSTRUCTION/RENOVATION: If Owner decides at any point to renovate Unit, they will promptly notify Broker. Unless the renovation is to cure a dangerous condition in the Unit, Owner shall have construction done in the off-season time. If the Owner blocks off time to allow construction and the construction overflows the original date of opening and reservations are in place, or if Owner fails to notify Broker of the renovation, Owner agrees to pay any additional rent monies due from the relocation of said renter. This also applies to any Owner who has new construction. MINIMUM BALANCE: Owners may be required to maintain a minimum balance or an amount equal to the average monthly costs of Broker-provided services, whichever is higher in their owner account (“Owner Account”). If the balance falls below the minimum requirement, Owner shall be billed to reinstate the required reserve amount or said deficiency shall be withheld from the future rental payment(s). Upon termination of this Agreement, any remaining funds in the Owner Account shall be returned to Owner.
SURVEILLANCE EQUIPMENT: Unless otherwise authorized in writing by a Guest, Owner will remove or disable any video cameras and other surveillance equipment both inside and outside the Unit prior to any occupancy by a Guest. If the Owner operates any video cameras or other surveillance equipment while the Unit is unoccupied, Owner will post notice of such surveillance in a conspicuous place. Owner agrees to indemnify and hold Broker harmless against any loss, claim, civil action, criminal action, or regulatory action related to violations of Delaware or Maryland (as applicable) or of federal laws related to privacy or Owners use or placement of surveillance equipment at the property. Audio monitoring equipment is prohibited by state law and shall not be allowed in any Unit.

AUTHORITY TO ENTER INTO AGREEMENT: The Owner of saidUnitrepresents and warrants to theBrokerthat it has full authority to enter into this Agreement, and that there is no other party with any ownership interest in the Unit.

THIS IS A RENTAL LISTING AGREEMENT, NOT A PROPERTY MANAGEMENT AGREEMENT Owner agrees that Broker shall be responsible only for the performance of those duties to which Broker expressly agrees herein and for no other acts or duties, even if and when Broker may, upon occasion, perform certain duties not otherwise described or listed herein. Owner acknowledges that Broker is acting as a rental listing broker only and has no liability to Owner or Guest for the performance of any term or covenant of a Lodging Agreement. Broker is not responsible for any violations of any applicable codes, rules, laws and regulations respecting the Unit condition.

FAIR HOUSING:The Unit shall be shown and made available to all persons without regard to race, color, creed, religion, national origin, sex, familial status disability, or elderliness, in compliance with all applicable federal, state and local fair housing laws and regulations.

PETS/SERVICE ANIMALS: Owner hereby acknowledges that a “service animal” does not constitute a “pet” under applicable law. Even if Owner prohibits pets in a Unit, Owner acknowledges that Owner and Broker shall allow any Guest to rent the Unit with a service animal. Owner may not require an additional “pet deposit” for a Guest with a service animal.

ACKNOWLEDGEMENT OF CONTRACT: Owner acknowledges that he/she has read this agreement in its entirety prior to the execution thereof, and further acknowledges that the/she understands the terms of said Agreement and that he/she fully agrees thereto. This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding on either party to this Agreement except to the extent incorporated in this Agreement. This Agreement may not be modified or changed except by an instrument or instruments in writing signed by the Broker and Owner. The rights and obligations of the parties under this Agreement shall not be assignable except with the prior written consent of the other Parties hereto. SUCCESSORS: This Agreement shall inure to the benefit of the parties hereto and shall be binding upon the parties hereto and their respective heirs, successors, and assigns.

GOVERNING LAWThis Agreement shall be construed as to both validity and performance and enforced in accordance with and governed by the laws of the state in which the Property is located.

SEVERABILITY: : If any term, covenant, condition, or provision of this Agreement or the application thereof to any circumstance shall be invalid or unenforceable to any extent, the remaining terms, conditions, and provisions of this Agreement shall not be affected thereby and each remaining term, covenant, condition, and provisions of this Agreement shall be valid and shall be enforceable to the fullest extent permitted by law. If any provision of this Agreement is so broad as to be unenforceable, such provisions shall be interpreted to be only as broad as is enforceable

ATTORNEY’S FEES:In case of default by either party, the defaulting party agrees to pay all expenses, including, but not limited to, reasonable attorneys’ fees, which maybe incurred by the non-defaulting party in attempting to enforce its rights hereunder.

ELECTRONIC SIGNATURES:The parties hereto hereby acknowledge that this Agreement may be executed in electronic counterparts.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date the last party executes this Agreement.

Long & Foster Vacation Rentals STATEMENT AND 1099 INFORMATION

Seasonal/Winter Rental Fees