Owner Rental Terms and Conditions
Applicable for Wave Crest Resort
I, the undersigned Owner of the above described Vacation Ownership week (“VO” or “Use Week”), hereby authorize Grand Pacific Resort Management, (“GPRM”) to rent such VO on my behalf, upon the following conditions:
1. TERM. This Agreement is intended to be an annual contract, to be in effect from the date of execution through the date of occupancy for the Use Week that is the subject of the Agreement. After the date of occupancy has passed, a new agreement must be submitted should Owner wish to participate in the GPRM rental program for the next year. Each separate Use Week that the Owner wishes to rent through GPRM must be the subject of a separate Agreement. This Agreement encompasses solely the Use Week identified above.
2. PURPOSE. This Agreement shall govern the rights and obligations of the parties with respect to the rental of Owner’s VO during any year that Owner desires to participate in GPRM rental program and so notifies the Central Reservations Department in writing. Rental Agreements will be accepted up to 14 months in advance of the occupancy date for the Use Week to be rented.
3. EXCLUSIVE AGENCY. By executing this Agreement, Owner forfeits the right to concurrently employ another rental agent or to commit the VO to any exchange organization, such as RCI or Interval International.
4. OWNER RESERVATION. Owner is required to advise the Central Reservations Department of his/her intention to participate in the GPRM rental program at least six (6) weeks in advance of occupancy date, and as early as 14 months in advance for best results. When entering into the rental agreement, Owner acknowledges that we reserve the right to change unit numbers in order to accommodate various guests. Should Owner utilize a portion of the use week, Owner is guaranteed a unit type but will not be guaranteed unit number owned.
A. RCI Points Owners. Only Home week reservations will be eligible for the Owner Rental Program. Reservations must be confirmed with RCI points prior to submission to the owner rental program. Home Week reservations must be entered in their entirety (full 7 days). No partial week reservations will be accepted.
5. NON-GUARANTEED RENTAL. Owner acknowledges that GPRM can neither guarantee that Owner’s VO will be rented, in whole or part, nor rented at an established rate. GPRM agrees to use best efforts to rent the entire VO at the best possible rate, but reserves the right to rent less than the entire VO and to quote rates less than suggested rates.
GPRM’S DECISION AS TO THE NUMBER OF DAYS RENTED AND BEST POSSIBLE RATE FOR ALL PURPOSES OF THIS AGREEMENT SHALL BE AT THE SOLE DISCRETION OF GPRS AND IS FINAL.
6. SALE OR TRANSFER OF VO. In the event that the VO is sold, Owner agrees that sale shall be made subject to any and all pending rental reservation(s) under this Agreement and Owner shall immediately notify the Resort and Central Reservations Department of the sale.
7. NOTIFICATION OF NON-RENTAL. Owner Rental Department will provide notification of rental status 14 days prior to check in ONLY. It is your responsibility to call for the most recent rental status within the two weeks of check in date to inquire about rental status changes. These updates can change, and are not a guarantee of rental. Inquiry requests can also be made in writing by either email at OwnerRentals@GrandPacificResorts.com, faxed to (760) 828-4243 or call (800) 831-3027
8. QUESTIONS AND REQUESTS FOR INFORMATION. Owner acknowledges that all questions and requests for information, including accounting, which may arise in connection with this Agreement, shall be directed via email to OwnerRentals@GrandPacificResorts.com, faxed to (760) 828-4243 or call (800) 831-3027.
9. INDEMNIFICATION BY OWNER. Owner shall indemnify Homeowners Association (“Association”) and GPRM holding them harmless from any losses or damages that the Association or GPRM may incur as a result of this Agreement or any failure by Owner to perform its obligations hereunder. Association or GPRM may withhold any rental received to partially protect itself against loss.
10. DEDUCTION BREAKDOWN FROM RENTAL PROCEEDS.
A. Administrative Fee. Owner hereby expressly authorizes GPRM to deduct 30% of the gross rent as a fee payable after any applicable credit card surcharges have been deducted.
Administrative fees will cover all expenses incurred as a result of staff, salaries and wages for reservations, payables, receivables, telephone, operating supplies, marketing (ie; mailings, collateral material and online and offline advertising).
B. Homeowners Association Supplemental Contribution. Reservation fee of five percent (5%) will be deducted from the GPRM proceeds portion which will be payable to your resort Homeowners Association.
11. W9 or W8 NEEDED. If you are new to Grand Pacific Resorts Owner Rental you are required to complete and return to us a W-9. We must obtain your correct taxpayer identification number (TIN) to report income paid to you. Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN to the person requesting it. Only complete a W-8 if you are a foreign resident. This form is not necessary to complete if you have rented with us in the past. However, in rare occasions, you may be contacted regarding obtaining this information. You may print a W-9 from http://www.irs.gov/pub/irs-pdf/fw9.pdf . Please fax to 760-828-4243, email or mail the form to Grand Pacific Resorts INC. 5900 Pasteur Ct. Ste. 100, Carlsbad CA 92008
12. CANCELLATIONS/FORFEITURE OF DEPOSITS. Any cancellations received after the cancellation periods will result in one (1) night charge based on management’s discretion, we reserve the right to allow cancellations of rental guest based on extenuating circumstances that may need to be confidential.
13. ACCOUNTING. All accounting required under this Agreement will be completed within twenty one (21) days of the last day of interval rented. Please keep in mind that during heightened summer months this time could be longer. If Use Week falls within two (2) separate monthly periods, then two (2) separate checks will be sent within twenty one (21) days of interval rented. All inquiries regarding the status of rental, commissions or any other accounting related function can be submitted via email at OwnerRentals@GrandPacificResorts.com, faxed to (760)828-4243 or by calling (800)-831-3027
14. IN-HOUSE AUTOMATED BANKING PROGRAM. UPON PROVIDING MY CONSENT AS INDICATED BELOW, Grand Pacific Resort Management, Central Reservations Department shall deposit my week into the Grand Pacific Exchange Program (GPX) 14-30 days prior to the start date of the Use Week (If my week has not rented for a minimum of three (3) nights.) (30 days prior for properties in Hawaii only) Owners will have two (2) years from date of deposit to redeem an exchange week directly through GPX. Owner will not be required to pay any membership fees in connection with said exchange, and will, however, be subject to associated exchange fee: $189 Domestic, $189 International (rates subject to change). GPX is an internal GPR exchange program.
15. TERMINATION. Pursuant to the provisions of this Paragraph, this Agreement may be terminated should Owner wish to terminate to; rent, use or bank his/her Use Week with any other exchange company. Owner must request to have the Use Week removed from GPRM’s rental program. The request will be granted only if, the VO has not already been rented or reserved, in whole or in part. It is agreed that it would be impractical and/or extremely difficult to fix or establish the actual damage sustained as a result of termination more than thirty days prior to the occupancy date for the Use Week that is the subject of this Agreement. Consequently, it is agreed that a $50 fee will be assessed for any requests more than 30 days prior to the start date of the Use Week. The fee is intended to compensate GPRM for the marketing and/or administrative costs associated with efforts to rent the VO. No fee will be assessed for terminations less than thirty days prior to the date of occupancy for any Use Week that at the time of termination has not been rented, in whole or in part. When requesting to remove available nights from your rental, we require no less than 48 hours prior to the start of the week to complete the request. This is a onetime request to remove all or part of remaining available nights.
16. TAXES. All GPRM resorts are located within a governmental jurisdiction that imposes a tax, based on any rental revenues, and such tax shall be collected from the renter by GPRM.
17. BEST EFFORTS. GPRM agrees to make every reasonable effort to rent Owner’s VO. Owner agrees to indemnify and hold the Association, its Board of Directors and employees, Grand Pacific Resort Management, its officers and employees, harmless against and from any and all claims, demands, and liabilities which may arise in connection with the rental of Owner’s VO. Owner specifically relieves GPRM from any liability in connection with non-rental of Owner’s VO.
18. LOSS OF RENTAL RIGHTS. Home Owner Association must be current to be accepted into the Owner Rental program. In the event Owner shall become delinquent in the payment of any money owed to the Association prior to the rental dates and such delinquency shall remain unpaid as of the first day of the rental period, Owner shall lose the right to any rental income generated, which rental income shall be deposited into the Association’s operating account, less the Administrative Fee paid to GPRM.
Under these circumstances, neither GPRM nor the Association shall have any obligation to apply any portion of the rental income to Owner’s delinquent account.
19. PROPER AUTHORITY. Owner warrants that it possesses the requisite power and authority to enter into and perform its obligations under this Agreement on behalf of all persons in title of Owner’s VO. If Owner owns multiple VOs, Owner must execute and submit a separate Rental Agreement for each VO.
20. TELEMARKETING CONSENT. By executing this Agreement, Owner acknowledges a business relationship with Grand Pacific Resorts, Inc., Grand Pacific Resort Management, and ResorTime.com L.P. (all of whom may be involved in one way or another in the effort to rent the VO that is the subject of this Agreement.) By executing this Agreement, Owner provides express consent, permission and authorization to be contacted by telephone by any of the entities above with regard to product and/or service offerings, at the phone number listed above, until such consent is revoked by request to be placed on the company specific “Do-Not-Call List” maintained by each separate company.
Note: Such a request must be directed to each separate company; a request to one company will not result in your being placed on any other company’s specific “Do-Not-Call” list.
21. CHARGE BACKS. GPRM now offers the ability for Owners to eliminate risk of losing confirmed rental income due to rental guest credit card chargebacks or insufficient funds. This does not cover cancellations or no shows.
Should I elect to OPT IN to the to the Optional Rental Income Guarantee and not be responsible in the event of a charge back by the guest(s) who rent my week. I understand I must contact Owner Rentals at 800-831-3027 to process the payment of $24.95 to complete the Charge Back OPT IN.
This Agreement will not be accepted unless Social Security number is provided.
BE SURE TO SAVE OR PRINT A COPY OF THIS AGREEMENT FOR YOUR FILES.
By submitting this form you are agreeing that you have read and agree with the terms and conditions of this RENTAL AGREEMENT.