This Agreement defines the terms of use of the Site {nassem.homes} (hereinafter referred to as — «The Site») and its materials and services by the Users.

1.1 Owner owns (or is entitled to own) the Unit :

1.2 Owner appoints Operator to operate and manage the Unit in accordance with this Agreement.

1.3 The Parties agree and acknowledge that Operator may assign, delegate or subcontract any of its rights and obligations under this Agreement to a third party.

1.4 The Owner appoints Operator as the sole and exclusive letting agent for the Unit for the Term of this Agreement to let the Unit from time to time to such persons and on such terms as Operator thinks fit.

OWNER’S RETURN

2.1 The return payable by Operator to the Owner (“Owner’s Return”) shall be calculated as follows:

OR = (RR – DE), where :

OR – the Owner’s return for the calendar month in respect of which the return is being calculated;

RR = Room Revenue = the total amount payable each calendar month by accommodation tenants of the Unit;

DE = Deductible Expenses = all and any of the following expenses incurred in respect of the Unit

The Management Fee;

The Operating Supplies (linen, bedding, towels, guest supplies and toiletries, etc.);

The basic Preventive Maintenance;

The costs of major repairs and replacements;

DEWA (Dubai Electricity and Water Authority) bills and Gas bills;

Cable TV charges, DU or Etisalat (TV, Internet) bills and other TV subscriptions if any, but no telephone (landline) bills;

Empower (A/C) bills;

Bank charges, credit/debit card commissions;

All local, federal or municipal rates, taxes and charges;

Service Charges (if requested by Owner);

All other costs of a consumable nature for services connected to the Unit, whether billed directly by the assessing authority or the Owner’s Association for the building.

All proper expenses incurred in observing, performing and fulfilling the requirements of any Laws so far as they may be applicable to the letting the Unit.

2.2 The Owner hereby authorizes the Operator to deduct from the Room Revenue the Deductible Expenses and to pay the same from such monies held in trust on account of Room Revenue.

2.3 The Owner’s return shall be payable in arrears within one week after the Operator received the payment directly from the Guest or the transfer from booking website (AirBnb, Booking.com, & others). The dates of payment directly shall depend on the booking.

The Owner and Operator agree that:

a) the Owner will provide a valid e-mail address in order for Operator to send the

Room Revenue Report to the Owner, and will up-date the e-mail address as and when necessary.

b) the Owner will designate a bank account into which the Owner’s Return shall be paid. The Operator shall pay or cause to be paid the Owner’s Return into that account in UAE dirham.

c) in case if Owner require the Operator to deposit the Owner’s Return into a bank account outside UAE the Owner shall bear any transfer related or exchange costs,

These will be deducted from Owner’s Revenue.

d) The payment of the Owner’s Return is subject to receipt by the Operator of all income earned during the relevant month. Any income not received in the relevant month but received in a subsequent month shall be accounted for by Operator to the Owner in the subsequent month.

MANAGEMENT

3.1 The Operator shall:

a) Act fairly and in a good faith (in its dealings with the Owner) with respect to the selection of units available for rent with respect to requests, preferences and duration of stay of tenants for different types, sizes, locations, views, rental rates of units, with respect to occupancy of the unit by the Owner or his invitees, and the remaining length of Term of this Agreement, and must manage the letting of Units in impartially without preferential treatment to any individual Owner.

b) Use the commercially reasonable endeavours to lease the Unit for accommodation purposes and to maximize the Room Rates.

c) Maintain and renew from time to time any licenses, permits and registrations required for carrying on the business of letting the Unit.

d) Observe, perform and fulfil all the requirements of any Laws so far as they may apply to the Letting of The Unit and in Particular shall comply with the requirements of all such Laws relating to health, water supply, sewerage and fire (except such of them as may require structural alterations or additions to the Unit);

e) Operate and manage the Unit in a proper and business-like manner consistent with the management and operation of serviced apartments of a similar nature and standard;

f) Demand, receive and receipt deposits and revenue due and payable for the occupation of the Unit;

g) To the extent that the Room Revenue permits, keep the Unit properly and fully stocked and cleaned;

h) Subject to the availability of funds, maintain, replace, repair, repaint or redecorate the contents and interior of the Unit when considered necessary or desirable by Operator;

Keep properly the books of account and other records usual for the management and operation of serviced apartments;

) Receive security deposits and retain amounts to cover repair/replacement expenses in case of damages to a property and/or furniture and/or home equipment and/or items caused by negligence or inappropriate use by tenants;

k) Maintain the property in clean and tidy condition as per the DTCM requirements, arrange professional and general cleaning in the apartment, cleaning of carpets, drapes, curtains, bedspreads and upholstery, and the expenses thereof are included in the Management Fees.

provide the Room Revenue Report to the Owner after the end of each month and no later than 15th day of next month.

3.2 The Owner acknowledges and agrees that Operator will not be obliged to inform the Owner of any changes in availability of the Unit arising from cancellations, no-shows, date changes, reduced blocks for group bookings or other similar circumstances

3.3 The Owner acknowledges and agrees that all reservation deposits that are forfeited and/or any other cancellation charges shall be applied first to Operator costs and expenses, and then attributed to Room Revenue.

MANAGEMENT FEE

Owner agrees to pay the Management Fee (Commission) to Operator in respect of letting of the Unit in an amount equal to 15% (Fifteen Percent)

FURNITURE AND ROOM CONTENTS

5.1 In order to insure comfortable stay of tenants, The Owner must acquire, install and maintain a quality furniture package in the Unit always confirming to a standard and style as required by Operator.

5.2 Operator acknowledges and agrees that the Furniture and Contents are, and will remain, the property of the Owner. The Owner agrees that Operator shall retain and use the Contents in the Unit during the term of this agreement.

5.3 The List of furniture and contents should be attached to this agreement.

5.4 The Owner agrees not to vary, modify, remove, replace or exchange any part of the contents and Operating Supplies and shall not have the right to enter the Unit during the term, except as detailed in this Agreement.

OWNER’S RIGHT AND OBLIGATIONS

6.1 General

a) In the event that the Owner consists of two or more joint owners, Operator will only be obliged to use the contact details for the first mentioned Owner as named in this Agreement.

b) The first mentioned Owner must forward all correspondence and information in relation of this agreement to any such joint owners.

c) The Owner indemnifies (and must keep indemnified) the Operator against any all claims or costs that may arise as a result of the first named owner’s failure to pass on any information to its joint owners under this Agreement.

6.2 The Owner shall :

a) Allow the Operator to be the sole and exclusive letting agent or manager of the

Unit for the Term.

b) Not occupy, access or permit the Unit to be occupied or accessed other than as is permitted under this Agreement.

c) Allow the Operator to determine the Room Rates;

d) Not interfere with any business conducted at Building as referred to in this Agreement, nor any other business conducted by Operator;

MAID’S ROOM AND PERSONAL STORAGE LOCKER

7.1 In the event that a Maid’s room is included in the Unit, Operator will have sole and exclusive use of the room at all times, except for when Owner is in occupation of the Unit. On vacating the Unit, the Owner will not be entitled to leave any possessions in the Maid’s Room.

7.2 Any use of the Maid’s Room will be at the Owner’s sole risk. Operator will not be responsible for any loss, damage, costs or actions arising as a result of the Owner using or storing possessions in the Maid’s Room.

7.3 In the event that a personal storage locker is provided in the Building basement for Owners, the Owner shall be entitled to store personal possessions within the locker.

7.4 Any use of personal storage locker will be at the Owner’s sole risk. Operator will not be responsible for any loss, damage, costs or actions whatsoever arising as a result of the Owner’s use of the personal storage locker.

OWNER’S OCCUPANCY

8.1 Subject to any advance bookings arranged by Operator in respect of the Unit, the Owner may reserve the Unit for it’s own use 21 days a year, or the use of its invitees provided that:

a) The dates of Owner’s stay will be provided clearly in 90 days (preferably) in advance by e-mail and indicate the dates on which the Owner (or its invitees) intend to occupy the Unit;

b) The Owner complies with any reasonable reservation & cancellation policies and procedures that Operator may adopt;

In case if Owner not accompanies its invitees to the Unit, the Owner must provide personal confirmation (including passport numbers) of each invitee to the management of the Building, not later than 30 days prior to their intended occupancy. Such written confirmation is deemed to be Owner’s consent and responsibility.

d) In case if Owner occupies the Unit for the period exceeding 21 calendar days, the Owner shall pay to the Operator 50 AED per every extra day of His stay.

8.2 During any period of occupancy of the Unit by either the Owner or its invitees the Owner shall not be entitled to any Owner’s Return.

8.3 The Owner shall pay for the cost of services supplied to and consumed within the Unit during the period of Owner’s or its invitees stay.

8.4 The costs in respect of occupancy by the Owner or its invitees shall be charged directly to either the Owner or its invitees either weekly or upon departures. 

9. REPAIR AND MAINTENANCE

9.1 Operator is entitled to maintain the Unit in a good condition and, subject to availability of funds held in trust on account of Room revenue, execute minor and preventive maintenance whenever Operator deems necessary.

9.2 For clarity minor maintenance means touch up paint, repair and replacement of items such as fly screens, hoses, sink plugs, bulbs, damage to electrical sockets and such other items considered minor, however associated with day to day usage of the property.

9.3 However Operator must inform the Owner of any need in Major Maintenance whenever it is necessary and obtain Owner’s approval and consent for such works before performing that works.

9.4 Major maintenance means maintenance of the structure of the building, drainage, major plumbing, pumping equipment, boiler, sanitation (including basins, sinks, bath and sanitary convenience) room and electrical installations, A/C repair.

10. TERMINATION

10.1 Termination by Owner

a) The Owner shall be entitled to terminate this Agreement by serving written notice upon the Operator one (1) months prior to the date.

10.2 Termination by Operator

Operator shall be entitled to terminate this Agreement at any time, without liability and with immediate effect, by serving written notice upon the Owner:

a) In the event of termination of the Sale and Purchase Agreement between Developer and the Owner; or

b) In the event of breach by the Owner of any of its obligations in terms of this Agreement; or

c) Without any reason at sole discretion of the Operator.

d) In the event the Owner commits a material breach of this Agreement and fails to remedy that breach within thirty (30) days written notice from Operator.

) Upon termination of this Agreement the Owner shall no longer be bound (after the termination date) to allow the use of the Unit to Operator, except for occupation of the Unit under an agreement that Operator has made with a third party before the notice of termination was given by either party.

f) The Operator shall undertake a full stock-take and asset register of the Unit to ensure that all original Contents are properly accounted for and in the Unit. 

11. NOTICES

Any notice must be in writing and must be sent by email, courier or other certifiable mail carrier, to: Operator:

PALMAR VACATION HOMES RENTAL LLC

P.O.Box : 5689

Dubai, United Arab Emirates,

Email : admin@palmar.ae

Owner:

Owner’s e-mail address : Wagar@tplex.com

or

Home address:

Any notice given will be taken as given on the day of delivery or positive transmission, and in any other case (if after 5pm local time), on the next day.

12. MISCELLANEOUS

12.1 The Operator will not be liable for any income taxes, corporate taxes, withholding taxes or any other taxes or transfer related or exchange costs attributable to income earned by, or paid to, the Owner.

12.2 Force Majeure Event

a) If the performance of this Agreement or any obligations hereunder is prevented, restricted or interfered with by reason of earthquake, fire, flood or other casualty or due to strikes, riot, storms, explosions, war, terrorism, or a similar occurrence or condition beyond the reasonable control of the Parties, the Party so affected shall, upon giving prompt notice to the other Parties, be excused from such performance during such prevention, restriction or interference, and any failure or delay resulting therefrom shall not be considered a breach of this Agreement.

b) In case the Force Majeure continues for a period exceeding six (6) months, the Operator may give notice of termination without any compensation being due to either the Operator or the Owner.

12.3 The Operator shall inform tenants of smoking/non-smoking preference of the Unit. However, the Operator does not give any warranty in respect of smoking inside the Unit and shall not have any liability in any respect whatsoever in the event that smoking occurs in the Unit.

12.4 The Operator shall not knowingly allow tenants to permit pets or animals in the Unit, and shall use all reasonable endeavours to ensure that tenants do not permit pets or other animals in the Unit. Notwithstanding the foregoing, Operator does not give any warranty in this respect and shall have no liability in the event that pets or other animals occupy the Unit.

12.5 The Operator gives no guarantees and provides no warranties to the Owner as to the potential investment returns from the letting out of the Unit under this Agreement.

12.6 This agreement shall be for the benefit of and binding upon the Parties and their hairs, executors, successors and permitted agents.

12.7 This Agreement executed in 2 counterparts (one for each party), each is deemed an original and shall constitute one and the same agreement.

12.8 The Parties agree that the matters set forth in this Agreement are strictly confidential. Each Party shall make every effort to ensure that such information is not disclosed to any other third person without the prior consent of the other Party. The obligations set forth in this clause 11.8 shall survive any termination or expiration of this Agreement.

12.9 This Agreement is governed by laws, regulations, decrees and rules applicable in the Emirate of Dubai, United Arab Emirates. The courts of Dubai shall have exclusive jurisdiction to decide any matter relating to this Agreement.

12.10 The currency of this Agreement is Dirham and all payments shall be paid in Dirhams.