Choice 1: Standard Termination
Notice Period: If you wish to terminate this contract, whether due to HOA-related reasons or not, a 120-day written notice is required. This notice period begins once THOS confirms receipt of your request in writing.
Termination Fees:
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A termination fee equal to the original startup cost will be applied.
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If you have multiple properties, termination fees apply to each property individually.
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For properties with multiple units, fees will be allocated per rental space.
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You will also be responsible for any platform cancellation fees related to bookings confirmed outside the 120-day notice period.
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Note: THOS does not benefit from the platform cancellation fees. These fees are paid directly to the platforms, and the bookings will not be fully canceled until these payments are made.
Booking Commitments:
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All existing bookings must be honored up to the end of the notice period.
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THOS will charge a 50% gross booking fee, plus applicable taxes, for each booking up to the service termination date.
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If a booking falls within the last week of the notice period or during property sale/closing dates, it must still be honored. THOS will continue to provide services accordingly.
Property Sale:
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If the property is being sold or marketed for sale, you must inform THOS. Canceling bookings due to a sale may result in additional fees.
Administrative Fee:
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A monthly administrative fee of $200 will apply during the 120-day notice period, payable within 5 days of giving notice. Late payments will incur a 20% daily penalty until settled.
Privacy and Information Sharing:
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THOS is not required to share personal details of reservations due to privacy laws protecting renter information. Owners/clients and HOAs will only receive limited booking information and the fees required for cancellation.
Applicability:
This choice applies to all service plans.
Choice 2: Immediate Termination
Termination Notice and Fees:
If you prefer to terminate the contract immediately and cancel all bookings, the following applies:
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You must pay THOS the total amount required to cancel each booking, including any platform and THOS fees, within 5 days of notice.
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The termination fee is equivalent to the startup fee initially paid.
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THOS will also charge 50% of the gross reservation amount as a commission for each canceled booking, plus any platform cancellation fees, which typically range from 25-90% of the reservation cost.
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Note: THOS does not benefit from the platform cancellation fees. These fees are paid directly to the platforms, and the bookings will not be fully canceled until these payments are made.
Payment Process:
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THOS will invoice you for the total amount, which must be paid within 5 days.
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THOS will handle the cancellation fees and ensure all bookings are fully canceled. Platforms may also charge a reassignment fee to assist guests with finding new accommodations.
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THOS is not required to share personal details of reservations due to privacy laws. Owners/clients will receive only limited booking information and the fees that need to be paid.
Property Sale:
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If the property is being sold, marketed for sale, or about to be sold, you must inform THOS and honor all bookings until an agreed-upon time. Canceling bookings may result in additional fees.
Summary:
This option allows for the immediate termination of the contract. You are responsible for the total cost of all confirmed bookings, including platform fees, THOS commissions, and any related charges. Failure to pay the required fees will result in legal action.
Applicability:
This choice applies to all service plans.
