Villas & Vacations - in the AlgarveVilla Club Ltd

Sociedade de Mediacao Imobiliaria Lda (AMI 715)
More   Property Managament Contract

Villa Club Property Management Contract

(Villa Club is hereinafter known as VC)

Bill Payment Service

(A) A credit balance must be kept on the owners account at all times sufficient for the payment of bills to be processed. A balance of approx. €500 is usually sufficient.

  • VC cannot be held responsible for non-payment of bills if no funds are available. Where payment of overdue bills can only be made at the offices of the service provider, a minimum fee of €50 will be charged.
  • Whilst VC will endeavour to pay all bills before they become overdue, VC will not be responsible for the late payment of bills where this is beyond their reasonable control. Neither will VC be responsible for any consequential losses incurred by the owner as a result of non- payment of any bill.
  • VC will take reasonable care to ensure that bills are paid when due and in cases where bills are under €Euros, we will use our discretion in settling them. Otherwise if they are not the normal bills such as electricity etc. we will seek your authorisation.
  • If VC perceive some doubt as to whether the owner will accept a particular charge, then VC may attempt to clarify matters by contacting the owner, the cost of which must be borne by the owner.
  • The quarterly service fee will be debited to the owners account without notice during the quarter in question.
  • As long as reasonable notice is given VC will make any payment on written request from the owners up to the value of the owners credit balance.
  • A file will be kept of the supporting documents of entries made to an owners account. This file is available for inspection by the owner at VC offices with reasonable notice during normal office hours. If the owner wishes to have the documents forwarded, this will be done by normal post and the cost will be borne by the owner.
  • If the owner's balance is in debit for any reason, it is accepted that reasonable commercial interest may be charged on the value outstanding at the discretion of VC. Also the owner accepts that the cost of any reminders and telephone calls to restore the account to credit will be at the owners cost.
  • A regular statement will be sent to the owner by post or fax. The owner should raise queries within 30 days, failing which VC will assume account entries to be correct.
Minimum Account Balances

The following amount should be maintained on account at all times to enable the smooth payment of bills and ensure the continuation of services:- €500 (to be adjusted as necessary) If your account has inadequate funds to sustain your level of expenditure and, as a result, we are obliged to contact you, we reserve the right to charge additional telephone and administration costs in respect of this work. Similarly this will apply in cases where owners have services such as electricity and telephone disconnected through non-payment or neglect.

Other Management Conditions

(B) The owner will provide to VC all information regarding the property (see attached sheet).

  • The owner will provide a complete set of keys to the property. If renting VC will require three sets of keys to the main doors only. VC if required will copy keys and charge to owners account.
  • If VC are to provide maid and laundry services to guests or rental clients the owner will provide a minimum of three sets of bed linen and towels. (Bath and hand Towels).
  • VC will undertake any small repairs up to the value of €250 and will charge to the owners account. For any major work or repairs VC will obtain quotations and advise the owner before work is commenced. VC may charge the owner for any work carried out in cases of emergency outside normal office hours.
  • The owner gives authorisation for VC staff and agents to enter the property to undertake their work on the property as required.
  • Before VC undertake the management of the property the owner will have to provide a complete inventory of the contents. After checking, both parties will keep a copy. Inventories can be compiled by VC and the owner charged accordingly.
  • This contract does not replace any rental contract that the owner may have with VC.
Posted: 2005-02-01      Click here to go back to summary

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