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Management terms

The written terms for our serviced accommodation management service.

The written terms for AyNik Stay, our serviced accommodation management service. This page summarises what the written agreement covers. The full agreement is agreed in writing after we have surveyed your property.

The short version

  • We offer two models: managed, and lease. Neither starts until we have surveyed the property and you have read and signed a written agreement.
  • In the managed model our fee is 15% of net income. Net income means money actually received from guests for stays, after booking-site commission, refunds and taxes.
  • How and when you are paid, the length of the agreement and the notice period are set out in the written agreement.
  • We make no promise of income, occupancy or rent. Any figure we show is an illustration with its working shown.

Before you sign

Check your mortgage (many lenders need consent for short lets), your lease if the property is leasehold, your insurance and local planning rules. England's short-let registration scheme is expected but not yet in force.

Managed model

  1. We run the property day to day: listings, pricing, guest messages, cleaning and maintenance coordination.
  2. Our fee is 15% of net income, as defined above. Cleaning, linen, consumables and repairs are separate costs, shown to you each month.
  3. We send you a monthly statement showing income received, costs and our fee.
  4. How guest income is handled, and when you are paid, are set out in your written agreement.
  5. The length of the agreement and the notice period are set out in your written agreement.

Lease model

  1. We lease the property from you, typically for about 5 years, and pay a fixed monthly rent of about 5% above local market rent, set out in the lease.
  2. We cover routine repairs during the lease. What counts as routine, and who pays for major repairs, is set out in the lease.
  3. Break clauses, what happens if the property becomes uninhabitable, and how the rent is reviewed are set out in the lease.

Complaints

See our complaints procedure. Our sourcing and refurbishment terms are separate: see sourcing terms.