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Terms and Conditions

Profit Sharing Agreement

This profit sharing agreement is entered into between ("The Owner") and ("Reyjao"). Both parties declare that:

  1. The Owner is the legal and legitimate owner of ("The Property").
  2. The Owner has assigned to Reyjao the administration of The Property, which will be intended for short-term rental services through the Airbnb platform for a short-term period previously agreed upon by The Owner and Reyjao.
  3. The Owner wishes to use Reyjao's services, so all guests staying at The Property must make their reservation and payment through Airbnb services in consideration of Reyjao's right to receive a profit share from the Accommodation Fee.
  4. The profit sharing allocation will be as agreed.
  5. Both The Owner and Reyjao accept the Airbnb Terms of Service, which can be consulted at: https://www.airbnb.mx/terms, to offer the short-term rental service.

General Terms and Conditions

Definitions:

  • "Accommodation Fee" shall mean the fee for stay and cleaning paid by a guest for any short-term rental of The Property, calculated after the deduction of any Airbnb platform service charges, and the payment of any applicable fees and taxes (including business registration and license fees, insurance and transient occupancy or hotel taxes) payable by the guest under all applicable laws and regulations.
  • "Profit Sharing Allocation" shall mean the assignable amount of the gross accommodation fee, due and payable to The Owner and Reyjao, respectively, in accordance with any short-term rental.

The duration of the agreement has no term unless either party provides written notice of cancellation, in which case, to terminate the collaboration relationship there must be no pending reservations. Likewise, the accommodation cannot be reserved for future dates exceeding three months in order to avoid unwanted cancellations and penalties from the Airbnb platform.

Profit payments:

  • The Owner agrees that Reyjao will receive in its bank account the total profits deposited by Airbnb to subsequently make the allocation in the agreed percentages.
  • Reyjao will make profit payments to The Owner during the first 5 days of each month, accompanied by a detailed report of reservations (income) and operating expenses that occurred in the previous month.
  • Operating expenses will be borne by The Owner, except for laundry expenses which will be covered by Reyjao when its percentage in profit sharing is 20%.
  • Refunds or compensations made to guests will be borne by The Owner when they are responsible for the causes that provoke guest complaints, for example, entering the accommodation without consent.

The owner agrees to hold Reyjao harmless from all third-party claims, awards, damages, obligations, losses, liabilities, costs or debts and expenses (including, but not limited to, attorney fees) arising from:

  1. The Owner's violation of any term of this Agreement or any federal, state or local law, rule or regulation.
  2. The Owner's violation of any third-party right, including, but not limited to, any property right.

Reyjao offers no warranty, representation or condition that the results that may be obtained from the use of Reyjao's services will be accurate or reliable. The owner agrees that Reyjao will be solely responsible for all communications and interactions with Guests and other Airbnb and Reyjao users. Reyjao cannot guarantee that guests will comply with the terms of this agreement and Airbnb's terms of service; however, Reyjao will notify the owner if it discovers a guest acting in violation of these agreements and will file the pertinent complaints and claims with Airbnb.

The parties agree that any action or proceeding to enforce matters related to this agreement, including any arbitration, must be filed exclusively in federal or state courts located in Mexico City.

Neither party shall have the right to assign its rights and obligations without the prior written consent of the other party, except that Reyjao may assign its rights and obligations to an affiliate or successor by merger, acquisition or sale of all of Reyjao's assets, whose assignee shall agree in writing to be bound by Reyjao's obligation under this agreement. In such case, Reyjao will notify The Owner in writing within days following such assignment.