Inventory Service

Security deposit collection & Inventory Service

Last updated: May 24, 2023

The purpose of this document is to set out clearly & concisely the extent of the service offered and the fees charged. All references to El Rey Villas refer to the Inventory services provided by autonomous entity Kevin King [Y8566140B]. By signing the client agreement with the inventory service check box selected, the Owner accepts the following service agreement.

1) Purpose. Owner confirms that he / she is the sole or joint owner of the property. El Rey Villas is in the business of managing properties of this type. Owner desires to engage El Rey Villas to provide Inventory services for the Property.

2) El Rey Villas’s Responsibilities. El Rey Villas agrees to perform the following duties and responsibilities with regards to the Property:

Security deposit collection:

• Professional security deposit collection service for short-term rental clients from all direct bookings
• Professional security deposit collection from all 3^rd party booking platforms that offer the functionality
• Deposit funds amount agreed with the owner
• Secure handling and holding of security deposit funds
• Clear and transparent process for collecting and returning security deposits
• Assessment of the property’s condition at check-in
• Thorough inspection of the property at check-out to assess any damages or losses
• Timely return of the security deposit within 14 days after the check-out inspection
• Reliable and efficient communication with property owners and guests
• Compliance with local laws and regulations regarding security deposit handling
• Itemized breakdown of deductions, if applicable, supported by evidence
• Convenient electronic payment options for both collecting and returning the deposit
• Secure storage of funds
• Transparency in the use of the security deposit for repairs or replacements
• Assistance in resolving disputes related to damages or claims against the security deposit
• Professional and unbiased assessment of damages to ensure fair deductions
• Peace of mind for property owners and guests regarding their security deposit
• Competitive pricing with no hidden fees or additional charges

Inventory: This comprehensive inventory of the property will include:

• High-quality photographs of all furniture items and decor
• Tracked inventory changes and updates after each check-out
• Efficient and time-saving process for property owners and managers
• Streamlined communication and coordination with clients
• Confidentiality and privacy of client information and property details
• Strict focus on furnishings and decor, excluding kitchenware
• Added value to enhance the overall rental experience for guests
• Digital access to inventory reports for easy retrieval and sharing
• Flexible scheduling options to accommodate client needs
• Competitive pricing and transparent fee structure

3) Plans. El Rey Villas offers one Inventory plan, including the following services (detailed in point number 2):

• Security deposit collection (for short-term rental bookings made by El Rey Villas)
• Inventory (Photographic check-list updated annually)

4) Term. This Agreement shall come into effect upon the signing of the client agreement and will commence for a period of 12 months from the check-in date of your first short-term rental booking with El Rey Villas.

4.1) This contract has a minimum duration of 12 months. The charge is deducted from the pay-out for your first short-term rental booking with El Rey Villas and will be itemised in your remittance statement. Subsequent payments are deducted on an annual basis from your first booking of the subsequent year.

4.2) The agreement is concurrent until terminated in writing.

5) Termination. This Agreement may be terminated at any time by either Party upon written notice to the other party. Owner will be refunded a pro-rata amount only where the agreement is terminated by El Rey Villas, within thirty (30) days from the date of termination.

5.1) Immediate Termination. El Rey Villas may terminate this agreement immediately for the following reason: Owner’s breach of contract. Owner may terminate this agreement immediately for the following reasons: El Rey Villas’s gross negligence or wilful misconduct.

6) Indemnity. The Owner agrees to indemnify El Rey Villas for any reasonable costs, expenses or liabilities incurred or imposed on El Rey Villas provided that they were incurred on behalf of the Owner in pursuit of El Rey Villas normal duties. To assist El Rey Villas in carrying out its duties effectively, the Owner agrees to respond promptly, and provide necessary instructions, to any correspondence or requests from El Rey Villas.

7) Payment. The Inventory service is priced at €500 per year. Pricing is subject to IVA at the prevailing rate.

8) Limitation of Liability. Under no circumstances shall either party be liable to the other party or third party for any damages resulting from any part of this agreement such as, but not limited to, loss of revenue or anticipated profit or lost business, cost of delay or failure of delivery, which are not related to or the direct result of a party’s negligence or breach.

9) Governing Law and Jurisdiction. The Parties agree that this Agreement shall be governed by courts of the country and city the property is located.

10) Entire Agreement. The Parties acknowledge and agree that this Agreement represents the entire agreement between the Parties. In the event that the Parties desire to change, add, or otherwise modify any terms, they shall do so in writing to be signed by both parties.

Contact Us
If you have any questions about this service, You can contact us:

By email: info@elreyvillas.com