SERVICES
AGREEMENT
{if $HOUSE_TERM_ID == ‘yes’}{/if}
This Services Agreement (“
Agreement
”) is made on the day of
{$AGREEMENT_DD_MM_YYYY}.
BY AND AMONG
NESTAWAY TECHNOLOGIES PRIVATE LIMITED,
a private limited companyregistered under the Companies Act, 2013 having its registered
office at #1556, 19
th
Main,HSR Sector 1, Bangalore 560102
(hereinafter referred to as the ‘
Nestaway
’ which expression
shall, unless it to be repugnant to the context or meaning thereof, deem to mean and
includeits executors, administers and permitted assigns), of the
FIRST PARTY
;
2
AND
{$OWNER_NAME}
aged {$OWNER_AGE} years, {$OWNER_SON_OR_DAUGHTER}of {$OWNER_FATHER_NAME},
residing at {$OWNER_PERMANENT_ADDRESS}
hereinafter referred to as the “
Owner
”, (which term shall, unless it is repugnant to the
context, mean and include its executors, administers and permitted assigns) of the
SECONDPARTY
;The
Nestaway
and
Owner
are hereinafter collectively referred to as the “
Parties
” and
individually as
the “
Party
”.
WHEREAS
A.
NestAway is engaged in the business of building a technology platform for real
estatemarket; facilitating rental transactions & various services & processes around it.B.
The Owner is the actual owner of or is entitled to lease the property located
at{$HOUSE_ADDRESS} (
‘Scheduled Property’
).C.
The Owner is desirous of using services of NestAway in accordance with Annexure Aof this
Agreement in leasing the Scheduled Property subject to the terms andconditions as
mentioned in this Agreement.D.
Based on the mutual understanding and agreement among the Parties, the Parties
havedecided to enter into this Agreement on the terms and conditions herein below:
NOW
THEREFORE
THIS
AGREEMENT
WITNESSETH
AS
UNDER:
1.
TERM
The initial term of this agreement shall start on {$SERVICE_START_DATE} & end
on one year thereafter (“
Initial Term
”). Upon conclusion of this initial term, this
agreement shall automatically renewal in one-year incremen
ts (“
Renewal Term
”),
unless otherwise cancelled at the end of each term by providing at least 60 days ofwritten
[Link] the event that either party wants to terminate the agreement during the term, he
canterminate it in accordance with terms set forth in Clause 12.
“
Term
” shall collectively mean and include the Agreement terms represented by the
Initial Term and the Renewal Term (if applicable).
2.
EXCLUSIVITY
OF
ENGAGEMENT
The Owner hereby engages NestAway on an exclusive basis during the Term of
thisAgreement to provide its Services to the Scheduled Property located
at{$HOUSE_ADDRESS}. The Parties agree that NestAway shall be the sole cause of
3any lease of, or agreement to any lease of the Scheduled Property, whether suchagreement
is made in writing or orally.
3.
LEASING OF SCHEDULED PROPERTY
The Owner shall partner with NestAway to lease the Scheduled Property as per thefollowing
process.1.
Owner shall specify his tenant preference & verification requirements.2.
Owner shall specify the monthly rent he expects from tenants.3.
Owner & NestAway shall execute this service Agreement.4.
Owner shall furnish the Scheduled Property with required fixtures & furniture
as detailed in “Furnishing Clause” or utilize services of NestAway approved
furnishing rental vendors. NestAway shall assist the Owner in furnishing ifrequired.5.
Once furnished, NestAway shall upload the Scheduled Property on its portal.6.
It shall show the Scheduled Property to interested tenants & if any tenantexpresses interest,
NestAway shall collect verification details from the tenant& submit to the Owner for
approval.7.
Upon approval, NestAway shall prepare the lease agreement between Owner& Tenant &
complete other move-in formalities on behalf of owner.8.
During tenancy, NestAway shall collect monthly rent on Owner’s behalf &deposit it in
Owner’s account after deducting its charges. NestAway shall
make a separate payout to the Owner in case the tenant defaults on payment ofrent.9.
NestAway shall facilitate maintenance work required at the ScheduledProperty during the
term of this agreement.
4.
SCOPE
OF
SERVICES
Nestaway shall provide the Owner with services as mentioned in
Annexure A
of this
Agreement (“
Services
”) to enable l
easing the Scheduled Property to suitable [Link] Services will start from
{$SERVICE_START_DATE}
(“
Effective Date
”).
The Owner hereby grants full power & authority to NestAway to perform all
actionsnecessary to discharge Services to the Owner, Scheduled Property & tenants
asdetailed in Annexure A. Any such actions shall be deemed ratified & approved by
theOwner. Additionally, the Owner grants NestAway the right to enter the
ScheduledProperty at anytime during the Term hereof.
5.
TENANT PREFERENCE & VERIFICATION
NestAway, through its owner onboarding portal, shall collect Owner’s preference of
tenants & monthly rental. NestAway shall show the Scheduled Property to tenantswho
agree to abide by these [Link] verification, NestAway shall mandatorily collect ID
proof & address Proof oftenants. It shall also collect tenant employment proof, wherever
available, & tenant permanent address details. Once a tenant expresses interest to stay in
the property, allthese verification details shall be submitted to the Owner for approval. The
Owner has
