SAMPLE VACATION RENTAL AGREEMENT

THIS IS A VACATION RENTAL AGREEMENT UNDER THE NORTHCAROLINA VACATION RENTAL ACT. THE RIGHTS AND OBLIGATIONS OF THE PARTIES TO THIS AGREEMENT ARE DEFINED BY LAW AND INCLUDE UNIQUE PROVISIONS PERMITTING THE DISBURSEMENT OF RENT PRIOR TO TENANCY AND EXPEDITED EVICTION OF TENANTS. YOUR SIGNATURE ON THIS AGREEMENT, OR PAYMENT OF MONEY OR TAKING POSSESSION OF THE PROPERTY AFTER RECEIPT OF THE AGREEMENT, IS EVIDENCE OF YOUR ACCEPTANCE OF THE AGREEMENT AND

YOUR INTENT TO USE THIS PROPERTY AS A VACATION RENTAL.

1.  Premises. (Description of individual house entered here).

2.  Term. (Description of dates and times entered here).

3.  Rent. Tenant agrees to pay rent for the Premises in accordance with paragraph 4 below.

4.  Financial Terms. (Description of individual rental entered here)

*If trip interruption insurance is not desired, deduct cost from Total above and initial here:                                              .

NOTE: Tenant's decision with respect to the purchase of trip interruption insurance will affect Tenant's right in the event of a mandatory evacuation. See Paragraph 12 below.

**Initial here to decline non-refundable Damage Waiver and elect to pay       refundable Security Deposit:           

***Tax rates are calculated as of the time of this Agreement. Tenant shall be responsible for payment of all applicable taxes according to rates in effect at the time of occupancy.

 

5. Disbursement of Rent and Third Party Fees. Tenant authorizes Agent to disburse up to fifty percent (50%) of the rent set forth in paragraph 3 above to the owner (or as the owner directs) prior to Tenant's occupancy of the Premises, and the balance of the rent upon the commencement of the tenancy, a material breach of this Agreement by Tenant, or as otherwise permitted under the Vacation Rental Act. Tenant agrees to pay a $25.00 processing fee for any check of Tenant that may be returned by the financial institution due to insufficient funds or because Tenant did not have an account at the financial institution. Tenant also authorizes Agent to disburse prior to Tenant's occupancy of the Premises any fees owed to third parties to pay for any goods, services, or benefits procured by Agent for the benefit of Tenant, including but not limited to any fees set forth herein payable to Agent for reservation, Transfer or cancellation of Tenant's tenancy.

 

6. Security Deposit Protector/Security Deposit. Karichele is now offering a non-refundable Security Deposit Protector which protects you from accidental damage to leased premises or contents during your stay.  The cost of the Security Deposit Protector has been included in your Agreement.  A brief description of the Security Deposit Protector is included in your Lease Agreement. PLEASE READ IT CAREFULLY. Should you elect not to purchase the Security Deposit Protector, please initial the Agreement where indicated and subtract the amount from your 2^nd payment. You may elect to take either the non-refundable Security Deposit Protector or pay the refundable Security Deposit applicable to the property you are leasing.  Any security deposit provided for in paragraph 4 above may be applied to actual damages caused by Tenant as permitted under the Tenant Security Deposit Act. In addition, Agent may deduct from the security deposit the amount of any unpaid long distance or per call telephone charges and cable television charges that are not specifically described in this Agreement (including any addendum hereto) as being included with the Premises. Agent shall apply, account for, or refund Tenant's security deposit within 45 days following the end of the tenancy.

 

7.   Trust Account. Any advance payment made by Tenant shall be deposited in a trust account with  Bank of Currituck located at  Moyock, NC . Tenant agrees that any advance payment may be deposited in an interest-bearing trust account and that any interest thereon shall accrue for the benefit of, and shall be paid to, the owner (or as the owner directs) as it accrues and as often as is permitted by the terms of the account.

 

8.   Tenant Duties. Tenant agrees to comply with all obligations imposed by the Vacation Rental Act on Tenant with respect to maintenance of the Premises, including but not limited to keeping the Premises as clean and safe as the conditions of the Premises permit  and causing no  unsafe or unsanitary conditions in the common areas  and remainder of the Premises that Tenant uses; and notifying Agent in writing of the need of replacement of or repairs to a smoke detector, and replacing the batteries as needed during the tenancy. Tenant agrees not to use the Premises for any activity or purpose that violates any criminal law or governmental regulation. Tenant's breach of any duty contained in this paragraph shall be considered material, and shall result in the termination of Tenant's tenancy.

 

9.         Agent Duties. Agent agrees to provide the Premises in a fit and habitable condition. If at the time Tenant is to begin occupancy of the Premises, Agent cannot provide the Premises in a fit and habitable condition or substitute a reasonably comparable property in such condition, Agent shall refund to Tenant all payments made by Tenant. Agent shall conduct all brokerage activities in regard to this Agreement without respect to the race, color, religion, sex, national origin, handicap or familial status of any tenant.

 

10.   Cancellation. In the event of a cancellati