Rental Arbitrage Agreement for Airbnb Lessee
I need a real estate attorney to help me write a rental arbitrage agreement addendum to attach to new leases. Below are the newest rules I want implemented if legal. I also need someone to help protect my company from other liabilities I am not seeing.
The attached document is a current lease of a portfolio of properties by one owner. I need this lease split into three separate leases which will be resigned for a March 1st start date with their own rent amounts (TBD).
Arbitrage Lease Rules
- Cardo may invest in Upkeep (maintenance, replacements) and Updates (furnishing, additions)
- Cardo can sell/donate/dispose of any furniture in the property and apply any funds as credits toward new furnishing
- Upkeep will be paid for up front. Updates will depreciate over 5 years.
- Must define Upkeep: all appliances, ceiling fans, switched lights, issues related to plumbing, heating, electrical systems, water leaks, roof damage, irrigation systems, faulty smoke detectors, carbon monoxide detectors, pest infestations, and maintaining common areas. Also anything structural to the home including doors, sliding glass doors, windows, foundation cracks, pool equipment, pool structure, overhangs, patio covers, decking. Anything that degrades in the property not as a result of guest use. Anything that is no longer as it once was when the property was first rented.
- Cardo will offer the homeowner the ability to repair or call a technician. Cardo can also facilitate the repair and subtract the cost from the monthly rent.
- For any days blocked by homeowner or where property is unusable for guests, Cardo can deduct rent equal to 1.5x the prorated rent amount. This is to cover additional costs such as utilities and services, as well as opportunity loss.
Apply Now
The attached document is a current lease of a portfolio of properties by one owner. I need this lease split into three separate leases which will be resigned for a March 1st start date with their own rent amounts (TBD).
Arbitrage Lease Rules
- Cardo may invest in Upkeep (maintenance, replacements) and Updates (furnishing, additions)
- Cardo can sell/donate/dispose of any furniture in the property and apply any funds as credits toward new furnishing
- Upkeep will be paid for up front. Updates will depreciate over 5 years.
- Must define Upkeep: all appliances, ceiling fans, switched lights, issues related to plumbing, heating, electrical systems, water leaks, roof damage, irrigation systems, faulty smoke detectors, carbon monoxide detectors, pest infestations, and maintaining common areas. Also anything structural to the home including doors, sliding glass doors, windows, foundation cracks, pool equipment, pool structure, overhangs, patio covers, decking. Anything that degrades in the property not as a result of guest use. Anything that is no longer as it once was when the property was first rented.
- Cardo will offer the homeowner the ability to repair or call a technician. Cardo can also facilitate the repair and subtract the cost from the monthly rent.
- For any days blocked by homeowner or where property is unusable for guests, Cardo can deduct rent equal to 1.5x the prorated rent amount. This is to cover additional costs such as utilities and services, as well as opportunity loss.
Apply Now