Veth
Realty &
Consultancy B.V.

General Terms VRC

The following general terms apply to services provided by VRC – Veth Realty & Consultancy B.V.

Article 1.	Definitions In the scope of this document, the following expressions are to be understood as follows:
1.1	VRC: The private limited company with limited liability (besloten vennootschap,) VRC – VETH REALTY & CONSULTANCY B.V., with its registered office in Haarlem the Netherlands, under trade registry number 34150256.
1.2	Principal: Any natural person or legal entity who has commissioned VRC to act as mediator in renting, renting out, buying, selling, developing and managing real estate and other personal property and assets, or to provide consulting services or management activities.

Article 2.	Applicability of these terms
2.1	By submitting an application to VRC, the principal agrees without reservations to the general terms at issue.

Article 3.	Communication, Dates
3.1	Principal may communicate with VRC in writing, including through fax or e-mail, or by telephone.
3.2	If any document makes reference to a date by which VRC should receive some form of notice, said date will be understood as being said date in Amsterdam, and said notice should be received by VRC no later than 5 p.m. Amsterdam time.

Article 4.	Licenses and permits
4.1	If Principal requires any licenses or permits from 3rd party or other authorities in order to comply with the legal transactions involved in the assignment (of renting out or selling property, etc.), it is Principal’s responsibility to have such licenses or permits in order. Principal will hence be liable for any damages resulting from the lack of necessary licenses or permits.
4.2	If desired, licenses or permits referred to in subsection 4.1 have to be submitted to VRC in writing.

Article 5.	VRC’s limited liability
5.1	If damages arise from an assignment accepted or executed by VRC, or any other related agreements, VRC will only be held liable for damages up to a maximum equal to the sum Principal was charged by VRC for the execution of the assignment in question. This limitation will not apply in cases where malice or intentional negligence by VRC leads to the damages
5.2	VRC cannot be held liable for non-performance or part performance before, during or after the leasing term, this is a matter between tenant and the landlord. Nor assume any liability for the consequences of the applicability of the legal provisions to an agreement. VRC will draw up at one’s disposal a standard model “rental agreement” for his clients, but will not accept liability.
5.3	Lessor is aware that if the Rent Tribunal determents the rental price to be lower than the negotiated price, lessee can reclaim rental adjustment, which could contain that the already received rent, will partial have to be restituted by lessor. VRC will not assume any liability as to that.

Article 6.	Term of payment
6.1	Principal should pay bills submitted by VRC within 14 days of the invoice date. Any sum in arrears will be incremented with 1% in interest each month, dating from the invoice date.
6.2	Should VRC see necessary either to take legal action, or to secure collection by some other means, Principal will be liable for the expenses involved, which are agreed on to equal 10% of the sum to be collected.

Article 7.	Applicable law
7.1	Matters involving the business relationship between VRC and Principal will be ruled according to Dutch law.

Article 8.	Jurisdiction
8.1	Only the competent court in Haarlem is entitled to be informed of any disputes between VRC and its customers. VRC is nevertheless entitled to cite an opposite party to any legally competent court.

Article 9.	Amendment and registration of terms
9.1	These general terms may at any time be amended by VRC. Amendments will come into effect as soon as they are filed with the Chamber of Commerce in Haarlem.

Conditions VRC – Veth Realty & Consultancy B.V.

1. REGISTRATION IS FREE & No Cure, No Pay.
2. Commission is based on the asking rental price; price negotiations will not affect the commission for VRC.
3. The commission will be fixed before price negotiations; the commission will be equal to the rental price indicated in the initial asking price.
4. The mediation agreement between assignor and VRC-Veth Realty & Consultancy B.V. will go through after signing the mediation conditions which are included in the registration form Rental house offer.
5. Before a agreement will take place, the assignor is obliged to fill in the form Rental house offer complete and truthfully.
6. It’s not allowed to rent out an accommodation of the VRC portfolio directly from the owner to lessor.
7. For the mediation VRC – Veth Realty & consultancy B.V. needs the following papers:
   · Copy of passport,
   · Financial statement (or pay slip),
   · If rented by your company, a copy of registration of the Chamber of Commerce,
   · Company statement; if your company is paying the rent.

Conditions receiving object

Before VRC – Veth Realty & Consultancy B.V. decides to take an object to rent out, the client must meet some conditions, namely: 1. client must be the legal owner of the object, and declares to be legally entitled to act as the landlord. 2. The object must fall under the so-called “Vrije sector”, judged by point counting system assigned by the Stedelijke Woningdienst Amsterdam.

For more information about this: Stedelijke Woningdienst Amsterdam, department stock management/maintaining Jodenbreestraat 25, PO Box 1900,1000 BX Amsterdam. Tel: 020 5527557

Client should inform a number of agencies (if applicable) to inform: mortgage bank (en), association of owners and insurance agency’s.

 

Commission VRC – Veth Realty & Consultancy B.V.

Rental period Commission rate

1 up to 3 months ½ month commission excl. 19% V.A.T. At extension after 3 months, ½ month commission will be charged extra excl.19% V.A.T. > 3 months 1 month commission excl. 19% VAT.

Buy and Sell mediation

If you choose to involve VRC – Veth Realty & Consultancy B.V. in the purchase or sale, you will be billed for brokerage expenses after the purchase or sale is completed. These are computed as proximally 1, 75% of the purchase price, excl. 19% V.A.T. For the Netherlands Antilles these are computed as proximally 4% of the purchase or sale price, excl. O.B.

Real Estate Management

For management of all types of real estate, a fee equal to 8% of the monthly rent is calculated, excl. 19% V.A.T.

 

VRC’s limited liability

- VRC-Veth Realty & Consultancy B.V. – hereinafter also referred to as VRC – limits any liability arising from assignments accepted or carried out by it, as well as those arising from any other related agreement, to the amount invoiced by VRC to the client with regard to the assignment in question. This limitation shall not apply in case of wilful injury or intentional recklessness on the part of VRC- Veth Realty & Consultancy B.V.

- VRC cannot be held liable by any means for total or partial breaches of contract before, during or after the term of lease, as this is exclusively a matter between the tenant and the landlord.
VRC will not assume any liability for the resulting lease agreement between lessor and lessee or any consequences of said agreement, nor with regard to the applicability of any legal provisions to the agreement. If requested to do so, VRC will offer its clients a standard lease agreement, without thereby assuming any liability.

- The rental agreements are concluded on a temporary basis. Permanent occupation is not allowed. All leases are temporary, and the landlord/lessor has the right to resume occupation of his/her apartment at the end of the term of lease.

- Lessor is aware of the fact that, should the Rent Tribunal (“Huurcommissie”) establish a rent lower than that negotiated, lessee may demand an adjustment of the rent, which may entail partial restitution by Lessor of rents previously collected. VRC will not assume any liability as to that.

- Should any licenses or permits from third parties or other authorities be required of Lessor in order to comply with the legal transactions involved in the assignment (of renting out or selling property, etc.), it is Lessor’s responsibility to have such licenses or permits. Lessor will hence be liable for any damages resulting from the lack of necessary licenses or permits. If required, licenses or permits have to be submitted to VRC in writing.

- VRC does not allow sublease

- Should client fail to comply with payment of the mediation costs, any ensuing legal or non-legal expenses shall be borne by the client

- Any agreements concluded between the client and VRC, whether in writing or oral, shall be binding. Should client cancel the agreement, he will be charged the one-off cancellation costs of 275, – euros, excl. VAT.

 

Rental Conditions first month

Payments for the first month are calculated as follow:

• One month rent
• 1-2 months deposit; this amount of money will be returned at the end for the rental agreement (cash deposit or bank guarantee)
• Commission; for the mediation services by VRC
  If rental period is 1 up to 3 months: ½ month rent excl. 19% VAT
  If rental period is more then 3 months: 1 month rent excl. 19% VAT
  If the monthly rental fee includes any of the following: service fee, utility expenses, cable, etc., these will be included when calculating the fee.
• VAT 19% Value Added Tax on commission (= BTW in Dutch)
• The rental agreement will first enter into force after it has been signed by parties and the complete initial payments, deposit, first month’s rent andcommission, have been paid.
• Only after receiving the total amount, VRC will hand over the keys.