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AvantStay VRMA - Stone Manor Hospitality LLC - 9 Country Club Ln N, Briarcliff Manor, NY 10510.pdf

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Vacation Rental Management Agreement AvantStay Northeast, LLC, a Delaware limited liability company (the “Manager”) is pleased to present the Owner(s) listed below with this vacation rental management agreement based upon and subject to the following terms and conditions (the “Agreement”): 1. Key Contract Terms & Definitions Property: 9 Country Club Ln N, Briarcliff Manor, NY 10510 Bedroom Count: 4 Owner(s): Simon, Noah , Individual Owner’s Email: noahmsimon@hotmail.com Owner’s Phone Number: +19

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Vacation Rental Management Agreement
AvantStay Northeast, LLC, a Delaware limited liability company (the “Manager”) is pleased to present the Owner(s) listed below with this vacation
rental management agreement based upon and subject to the following terms and conditions (the “Agreement”):
1. Key Contract Terms & Definitions

Property:

9 Country Club Ln N, Briarcliff Manor, NY 10510

Bedroom Count:

4

Owner(s):

Simon, Noah , Individual

Owner’s Email:

noahmsimon@hotmail.com

Owner’s Phone Number:

+19145845597

Owner’s Mailing Address:

9 Country Club Ln N, Briarcliff Manor, NY 10510

Expected Commencement Date:

January 15th, 2025

Initial Term:

12 months

Owner’s Use Nights:

10-12 weeks per annual Term, subject to availability

Management Fee:

20 %

Home Care Charge:

$ 200

2. Manager’s Rights and Responsibilities
a. Marketing to Guests & Tenants. Manager will use its discretion and best efforts to attract guests to use the Property and its entire
Bedroom Count for short-term occupancy and related uses (“Intended Use”) by utilizing online travel agencies and its own website
(collectively, “OTAs”). Manager shall have the exclusive right to market the Property in its sole discretion and will own all intellectual
property relating to such listings, including, but not limited to, client lists, photos, videos, testimonials, reviews, and written descriptions
of the Property. With Owner’s approval, Manager may block the Property from reservations for up to three (3) days per year for
marketing and staff training purposes. Where Manager believes it to be in the best interest of the Property’s performance, Manager
may also engage tenants for long-term occupancy exceeding thirty (30) days on Owner’s behalf. Any occupancy at the Property
exceeding thirty (30) days shall require Owner’s approval. Upon booking, guests will execute Manager’s terms of service and any
other documentation Manager deems necessary to protect Owner, Manager, and the Property.
b. Property Security & Guest Privacy. Manager will maintain all access and surveillance controls to the Property, inclusive of keys, access
codes, alarm codes, and security camera systems. Manager reserves the right to add additional surveillance equipment to mitigate
risks of damage to the Property and alter existing systems to ensure the privacy of the guests in those areas where they shall maintain
a reasonable expectation of privacy. Owner is not entitled to any guest-identifying information that may be provided to or accessible by
Manager or Owner, including, without limitation, full guest names, contact details, or payment information.
c. Concierge Services. Manager may provide additional services to guests in partnership with other vendors and companies. Manager
will be responsible for all expenses and entitled to all revenue from these additional services (“Concierge Services”).

d. Repair & Maintenance. At Owner’s expense, Manager will maintain the Property and repair any wear-and-tear (whether typical or
exceptional) by natural conditions, guests, or their invitees at a level consistent with Manager’s brand standards, in its sole discretion.
Except in the event of an emergency to protect the Property, guests, or Manager’s staff or property, or as Manager reasonably deems
necessary to sustain the Intended Use of the Property, Manager must obtain prior written approval from Owner for any single
Operating Expense, as defined in Section 3, below, over $500 per occurrence. Owner’s failure to respond to a written request for
expense approval within 6 business hours (from Monday to Friday during normal business hours) or 12 hours (from Friday after normal
business hours to Sunday) will be considered an acceptance thereof.
e. Payments & Accounting. Manager will remit, on Owner’s behalf, transient occupancy and other taxes related to the services provided
by Manager, and manage other Operating Expenses (defined below). Manager will remit Owner Income and provide financial
statements of Revenue (defined below) and expenses on its standard form by the 15th calendar day of each month for the preceding
calendar month, referred to as a “Billing Cycle”. Upon termination of the Agreement, the final financial statement and remittance of
Owner income shall be paid forty-five (45) days following the final Billing Cycle. Manager will use commercially reasonable efforts to
collect any amounts owed by guests due to damage, regulatory fines, or other unpaid debts to Owner. Manager will not commence
legal actions on Owner’s behalf but agrees to coordinate with Owner’s counsel regarding collections from guests if
requested.bManager may, at its discretion, hold funds in an interest-bearing account, the interest for which shall belong to the Manager.
f. Manager’s Insurance. During the Term, Manager will maintain commercial general liability insurance for bodily injury and third-party
claims with a per-occurrence policy limit of $1,000,000 and an aggregate limit of $2,000,000.b
g. Accidental Damage Protection Program. Manager shall charge guests an accidental damage protection fee (“ADP Fee”), which, if
paid, will make such reservation eligible for Manager’s coverage of up to an aggregate of $2,000.00 in R&M (defined below) expenses
to repair or replace damage to the Property or its contents caused by guests or their invitees that exceeds normal wear-and-tear,
provided that such damage is not due to pets, smoking, occupant counts exceeding the reservation, or other intentional violations of
the guest agreement or house rules (“ADP Coverage”). Any R&M expenses not subject to or in excess of ADP Coverage shall remain
Owner’s responsibility and shall be deducted from Owner’s share of Revenue as part of Operating Expenses, pursuant to Section 3(a)
below. Manager will use commercially reasonable efforts to collect any amounts owed by guests due to damage or loss in excess of
ADP coverage.
h. Onboarding Services & Fees. Manager shall perform a customary inspection of the Property, install security devices, coordinate
vendors, and procure standard OS&E (defined below) as part of its typical management services.
3. Owner’s Rights and Responsibilities
a. Owner Income; Management Fee & Reimbursement. Owner is entitled to all revenue earned directly from Manager’s operation of the
Property, inclusive of revenue categories as indicated in Exhibit A (“Revenue”), less “Operating Expenses” incurred within Manager’s
commercially reasonable discretion, inclusive of: (i) repair and maintenance of the Property, inclusive of, but not limited to labor and
materials (“R&M”); (ii) procurement, fulfillment, install, care and replacement of furnishings, fixtures, and equipment related to the
Intended Use (“FF&E”); (iii) operating supplies and equipment, inclusive of, but not limited to, consumables, bedding components such
as pillows and bed covers, household & outdoor items small appliances, and the initial supply of linens and terry cloth used in
furtherance of the Intended Use (“OS&E”); (iv) costs and expenses related to obtaining, maintaining or renewing operating permits and
licenses for the Intended Use, marketing costs associated with the Property, including OTA fees assessed to account holders rather
than guests; (v) the percent defined as the Management Fee in Section 1, multiplied by the total Revenue, and (vi) any additional
expense categories as indicated in Exhibit A. “Revenue” does not include income related to the ADP Fee, housekeeping fees, transient
occupancy tax, sales tax or related taxes, credit card fees, or Concierge Services. Any expenses incurred by Manager in the
performance of its services under this Agreement may be charged against Owner’s monthly statements, and, if the income is
insufficient to cover such Operating Expenses, Owner will reimburse Manager within five (5) business days of Manager’s written
demand, which will incur interest up to the maximum rate set forth in the jurisdiction where the Property is located.
b. Summary Operational Expenses. In lieu of billing certain individual de minimis Operating Expenses, as determined by Manager, Owner
agrees to pay to Manager: (i) a “Basic Consumables Charge” for routine OS&E supplies (e.g., condiments, paper towels, soap,
shampoo) in the amount of $3 multiplied by the Bedroom Count for each completed reservation; and (ii) a monthly “Home Care
Charge”, as set forth in Section 1, for certain R&M in-house labor allocations (e.g., inspections, repair services, and vendor project
management), all R&M materials under $20 (e.g., light bulbs, refrigerator water filters, batteries), and other services and materials as
Manager may designate in its discretion; and (iii) in the event Manager pays for or arranges any recurring or one-off utility services on
Owner’s behalf, a “Utility Bill Pay Fee” assessed as a $25 per month fee.b
c. Condition of the Property at Delivery. Owner will make, and be solely responsible for the costs of making, all alterations and
improvements to the Property (“CapEx”) and providing all initial R&M, FF&E, and OS&E as set forth in writing by Manager (the
“Onboarding Checklist”) prior to the commencement of Manager’s services. Owner shall advise Manager in writing once the
Onboarding Checklist is completed.b If Owner fails to substantially complete all of Onboarding Checklist by the Expected
Commencement Date, Manager may complete procurement of items on the Onboarding Checklist at Owner’s cost and assess a fee
equal to 10% of the costs of such procured items or terminate this Agreement. Owner will remove all personal property from the
Property, except that OS&E and/or FF&E recommended by Manager to be preserved for guests’ use. The parties may request
additional CapEx as mutually desirable, provided that neither party, except in the case of emergency, may incur additional CapEx
without notice and consent of the other.b Manager may, in its discretion, perform or hire a third party to perform an initial deep clean of
the Property at Owner’s expense, which shall be included in the first monthly statement.
d. Taxes, HOA Dues & Utilities.b Owner shall maintain in Owner’s name all electrical, water, garbage collection services, and any other
typical service necessary to maintain the habitability of the Property (“Utilities”). Owner agrees to pay for all Utilities, real and tangible
property related taxes, and homeowner association dues timely to avoid disruptions in service.b Owner agrees that Manager may
contact and discuss the Property’s account status with Utilities and the Property’s homeowner’s association at Manager’s discretion.
e. Intended Use Licenses & Permits. Where feasible, Manager shall retain the right to act on behalf of Owner to obtain, maintain or renew
a license or permit for theb Property. Owner shall provide all necessary documents and execute any paperwork requested by Manager
to obtain, maintain or renew the license or permit related to Property’s Intended Use. Requirements governing the Intended Use of the
Property may change during the term of this Agreement and Owner agrees to cooperate with Manager in filing any updated
applications as required. Additionally, should Manager request a change in occupancy to increase the number of permitted bedrooms
or reconfigure the existing permit to increase occupancy, Owner will cooperate with Manager’s application. In the event the Property
fails to obtain, maintain or renew the permit or license necessary for the Intended Use, Manager may immediately terminate upon
written notice to Owner. All associated costs related to this Section are to be the sole responsibility of Owner.