1. Parties and Definitions
"Manager" refers to Jacobean Properties LLC, a Colorado limited liability company operating in Winter Park, CO.
"Owner" refers to the individual or entity that holds title to the property and has engaged Manager under a signed management agreement.
"Property" refers to the specific unit or dwelling identified in the signed agreement.
"Guest" refers to any individual who books the Property through Manager's booking channels.
"Gross Rental Revenue" refers to the total rental income collected from Guests, excluding taxes collected on behalf of governmental authorities and any amounts refunded to Guests.
2. Appointment and Authority
Owner appoints Manager as the exclusive agent to list, market, and manage the Property as a short-term rental. Manager is authorized to:
- List the Property on booking platforms and Manager's own website
- Set, adjust, and negotiate nightly rates using dynamic pricing strategies
- Collect payments from Guests on Owner's behalf
- Execute guest rental agreements on Owner's behalf
- Arrange and coordinate cleaning, maintenance, and property inspections
- Respond to guest inquiries, complaints, and emergencies at any hour
- Retain approved vendors for routine maintenance up to [$ AMOUNT] per incident without prior Owner approval
3. Management Fee and Revenue
Management Commission
Manager earns a commission of [XX%] of Gross Rental Revenue for each completed reservation. This fee covers all services described in Section 4. There are no setup fees, listing fees, or monthly retainer fees.
Revenue Disbursement
Manager will disburse Owner's net revenue (Gross Rental Revenue less Management Commission and any approved maintenance or vendor expenses) on or before the [15th] day of each month for the prior month's completed reservations. Disbursements are made by direct deposit to the bank account on file. Owner will receive an itemized monthly statement via the Owner Portal.
Expense Deductions
Manager may deduct from Owner disbursements any amounts paid on Owner's behalf for: approved maintenance and repairs, consumable restocking (toiletries, paper goods), platform fees or taxes remitted to governmental authorities, and any damage remediation costs not covered by guest damage protection.
Taxes
Manager will collect and remit applicable Colorado state sales tax, Grand County lodging tax, and any local short-term rental taxes on Owner's behalf. Owner remains ultimately responsible for compliance with all applicable tax obligations related to the Property.
4. Services Provided by Manager
The Management Commission covers the following full-service management activities:
- Professional photography and listing creation across major booking platforms
- Dynamic revenue management and pricing optimization
- Guest screening, communication, and 24/7 support
- Keyless access management with per-reservation unique codes
- Coordination of cleaning between every guest stay
- Routine property inspections after each checkout
- Coordination of maintenance and repairs with local vendors
- Monthly owner statements and access to the Owner Portal
- Lodging tax collection and remittance
- Annual rental permit assistance and compliance monitoring
Services not included in the Management Commission (billed at cost): deep cleaning beyond standard turnover, major repairs and capital improvements, furnishing replacement, and utility costs.
5. Owner Responsibilities
Owner agrees to:
- Maintain the Property in a safe, clean, and guest-ready condition at all times
- Ensure the Property is properly furnished and equipped prior to the first guest stay
- Carry adequate property insurance as described in Section 6
- Obtain and maintain any required short-term rental permits or licenses for the Property
- Promptly notify Manager of any known defects, hazards, or restrictions affecting the Property
- Provide Manager with reliable access to the Property at all times
- Notify Manager of any planned Owner stays at least [14] days in advance
- Keep all mortgage, HOA, and property tax obligations current
Owner represents and warrants that the short-term rental use of the Property is permitted under applicable zoning laws, HOA rules, and any applicable lease or mortgage agreement.
6. Insurance
Owner is solely responsible for maintaining adequate insurance coverage for the Property, including:
- A homeowner's or dwelling policy that covers short-term rental activity (standard homeowner's policies typically exclude this — Owner should confirm coverage with their insurer)
- General liability coverage of no less than [$1,000,000] per occurrence
Manager strongly recommends a dedicated short-term rental or landlord policy. Manager is not responsible for any loss, damage, or liability arising from inadequate Owner insurance coverage. Owner agrees to name Jacobean Properties LLC as an additional insured on their liability policy upon request.
7. Guest Damage Protection
Manager enrolls each reservation in a guest damage protection program providing coverage of up to [$X,XXX] per stay for accidental damage caused by guests. Claims must be reported to Manager within [48] hours of guest checkout. Damage exceeding the coverage limit, or damage resulting from Owner negligence or pre-existing conditions, is the Owner's responsibility. Manager will assist with documentation and claims but is not liable for unrecovered damage amounts.
8. Owner Stays
Owner may reserve the Property for personal use at no rental charge, subject to availability and advance notice as specified in Section 5. Owner stays must be blocked through the Owner Portal and may not conflict with confirmed guest reservations. Cleaning fees apply to Owner stays at the standard cleaning rate.
9. Term and Termination
Term
This Agreement begins on the date signed and continues on a month-to-month basis with no fixed term or minimum commitment.
Termination by Owner
Owner may terminate this Agreement at any time with [30] days' written notice to Manager. Manager will honor all guest reservations confirmed prior to the notice date through their checkout dates. Manager's commission applies to all reservations completed during the notice period.
Termination by Manager
Manager may terminate this Agreement with [30] days' written notice to Owner. Manager may terminate immediately if Owner materially breaches this Agreement, fails to maintain adequate insurance, loses required permits, or if the Property becomes unsafe for guests.
Effect of Termination
Upon termination, Manager will provide Owner a final accounting and disbursement within [30] days. Owner is responsible for notifying Manager of successor arrangements to ensure smooth handoff for any remaining reservations.
10. Limitation of Liability
Manager acts as Owner's agent and is not liable for: acts or omissions of guests; loss, theft, or damage to personal property left at the Property; failure of third-party platforms or vendors; or force majeure events (severe weather, natural disasters, governmental actions) that prevent bookings or access to the Property.
Manager's total liability to Owner under this Agreement shall not exceed the total management commissions earned in the three (3) months preceding the claim.
11. Indemnification
Owner agrees to indemnify and hold harmless Jacobean Properties LLC, its members, employees, and contractors from any claims, damages, losses, or expenses (including reasonable attorney's fees) arising out of: Owner's ownership or condition of the Property; Owner's breach of this Agreement; any inaccurate representations made by Owner; or any claims by guests related to the physical condition of the Property.
12. Confidentiality
Both parties agree to keep the financial terms of this Agreement confidential and not to disclose them to third parties without the other party's written consent, except as required by law.
13. Governing Law and Disputes
This Agreement is governed by the laws of the State of Colorado. Any disputes arising under this Agreement will first be addressed through good-faith negotiation between the parties. If unresolved, disputes shall be submitted to binding arbitration in Grand County, Colorado, under the rules of the American Arbitration Association.
14. Amendments
Manager may update these standard terms from time to time. Owner will be notified of material changes at least 30 days in advance. Continued participation in the management program after the effective date constitutes acceptance of the updated terms.
15. Entire Agreement
This document, together with the signed property-specific addendum, constitutes the entire agreement between the parties with respect to the management of the Property and supersedes all prior discussions, representations, or agreements.
Contact Us
Questions about this Agreement? Reach us at [email protected] or (970) 281-9495.