Owner Terms of Service

These Owner Terms of Service (“Owner Terms”) apply whenever you list, manage, or offer a property through the Fairly Platform.  They are in addition to the General Terms of Service (the “General Terms”) and form part of your agreement with Fairly Inc. (“Fairly”)  Capitalized terms used but not defined in these Owner Terms have the meaning given in the General Terms.  The General Terms and the Privacy Policy are incorporated into these Owner Terms by reference.  These Owner Terms may be updated as described in the Changes section of the General Terms. Your continued use of the Services after an update constitutes acceptance.  You acknowledge and agree that your relationship with Fairly is that of an independent individual or entity and not an employee, agent (except as it relates to payment services below), or partner of Fairly.

1. Eligibility & Acceptance. By listing a property on the Fairly Platform, you represent and warrant that you either: (a ) own the property; (b ) have lawful possession and the right to rent or sublet the property; or (c ) are authorized by the owner or leaseholder to do so and to bind them to these Terms, and any other terms required to use the Fairly Platform. You agree to indemnify and hold Fairly harmless from any claims, liabilities, or losses resulting from any lack of such authority. By accepting rent payments through the Fairly Platform, the homeowner or leaseholder is deemed to have agreed to these Terms, regardless of who created or manages the User account.

2. Platform Fee.  You agree to pay a Fairly Platform Fee equal to 20% of Qualified Rent. “Qualified Rent” means net rental revenue earned through Fairly, excluding refunds and pass-through costs such as channel fees, third-party processing fees, cleaning fees, and taxes. 

3. Channel Distribution. You authorize Fairly to facilitate the distribution of your Listed Property on Fairly.com along with Channel Listing Partner sites, which may include VRBO.com, Airbnb, and others. That Channel Listing Partner’s own terms also apply. If any provision of the Channel Listing Partner’s terms differs from these Terms, then the provisions of the Channel Listing Partner terms will control to the extent of the conflict. Channel Listing Partners may charge fees for the distribution and marketing of these properties, and Fairly will deduct an amount equal to Channel Listing Partner fees from the reservation proceeds. To offset the impact of these fees on net proceeds received by the Owner, Fairly will increase the rates and fees charged on Channel Listing Partners to ensure that the Owner will receive their posted rates less any fee payable to Fairly.

4. Reservations. When a Reservation is made through the Fairly Platform, a contract is formed between you and the Guest, and you are responsible for delivering the service under the terms and at the price specified in the Reservation.
   
   If a Reservation is canceled by the Guest, the cancellation policy associated with the Reservation applies, and any remedy you may have is solely against the Guest and does not involve or implicate Fairly. As the Owner, you agree not to cancel guest reservations for any reason beyond the unavailability or inhabitability of your home for reasons beyond your control, and you agree to pay any fees assessed by Channel Listing Partners for Owner-initiated cancellations. 

5. Payment Services. Fairly may offer certain payment services (“the Payment Services”) to you and other users (the “Payment Service Users”), including, but not limited to,
   1. facilitating collection of Reservation payments from guests through the payment card networks or through Third Party Listing Channels, and
   2. facilitating payouts to the external bank account that you have added to your profile in the Fairly Platform (“Linked Account”), and to your designated caretaker, taxing authorities, and vendors (“Payees”) associated with the Listed Property. 
   If you list a property through the Services, the “Payment Services Terms” form part of your agreement with Fairly.  

6. Owner Responsibilities and Assumption of Risk. If you are using the Fairly Platform as an Owner, you acknowledge and agree that:
   
   1. You are solely responsible for the acts and/or omissions of yourself and anyone you engage and use to help manage the Listed Property, including without limitation, any and all subcontractors.
   2. You are solely responsible for the completeness and accuracy of the information included in the Listing for the Listed Property, including without limitation, the description of the Listed Property, the pricing and cancellation policies, and for defining all house rules for Reservations. You represent and warrant to Fairly that all information that you provide in connection with the Listing is accurate and complete in all material respects.
   3. You are solely responsible for maintaining the Listed Property. You represent and warrant to Fairly that there are no legal, civil, physical, or other restrictions to renting or inhabiting the Listed Property.
   4. You represent and warrant that you and your Listed Property comply with all applicable laws, regulations, permit or registration requirements, zoning restrictions, HOA or CC&R rules, and anti-discrimination and accessibility laws (including but not limited to the federal Fair Housing Act and analogous state or local laws). You agree not to impose any rules or conditions that would unlawfully discriminate against Guests or Caretakers.
   5. You agree to maintain appropriate insurance during each Reservation, including at minimum property coverage and general liability coverage for bodily injury and property damage occurring at the property. You are responsible for ensuring your insurance includes coverage for use as a  short-term rental.
   6. You are at least eighteen (18) years of age, legally own or are otherwise authorized to rent the Listed Property, and have all necessary rights and authority to accept these Platform Terms. Your relationship with Fairly is independent (not employment, joint venture, or partnership), and you assume all risks associated with renting and managing your property.
   7. You are responsible for determining and fulfilling your obligations to report, collect, and remit any taxes (which may include income, lodging, or any other taxes). For jurisdictions where Fairly facilitates the collection and/or remittance of taxes, you instruct and authorize Fairly to collect and remit these taxes to the relevant tax authority. For jurisdictions that provide a deduction for collecting, recording, and filing, Fairly will retain the amount deducted on amounts submitted by Fairly.  Taxes collected by Third Party Channels may be reported and remitted directly by the Channel Partner.  Fairly reserves the right to seek additional amounts from Owners when taxes collected are not sufficient to discharge the tax obligation of the Listed Property (including by deducting such amounts from the payout) and you agree that your sole remedy for taxes collected by Fairly is a refund from the applicable tax authority.
   8. You agree to keep and maintain the Listed Property in a safe and habitable condition and not to expose Guests to an unreasonable risk of harm or injury. By way of illustration and not by way of limitation, you agree: (i) not to store unsecured weapons at the Listed Property; (ii) to keep the Listed Property free of disease risks or the risk of dangerous animals; and (iii) not to create conditions at the Listed Property that increase the likelihood of a fire or impede escape in the event of an emergency.
   9. You agree that you will not have any indoor recording devices (like security cameras) inside the Listed Property, nor will you have any recording devices in outdoor areas in which a Guest would have a reasonable expectation of privacy (such as a sauna or outdoor shower), and you agree to disclose the presence of any outdoor cameras in the Listing.
   10. You agree that Fairly is not responsible for maintaining, insuring, or protecting the Listed Property. 
   11. You agree that, to the maximum extent permitted by applicable Laws, you assume the entire risk arising out of your access to and use of the Fairly Platform, including risks associated with renting the Listed Property and identifying and contracting with any Caretaker or other service provider.

7. Acceptance of Proposals and Caretaker Agreements.  When you accept a proposal presented through the Fairly platform, you acknowledge and agree that you are entering into a separate agreement directly with the Caretaker identified in the proposal for the services described therein. Fairly is not a party to that agreement and does not assume responsibility for the Caretaker’s performance.  For the duration of that agreement, the cleaning fee specified in the accepted proposal will automatically be deducted from the proceeds of each Reservation at the Property and paid to the Caretaker. You authorize Fairly (or its payment processor) to make such deductions and remittances on your behalf. You are solely responsible for evaluating, selecting, and agreeing to terms and conditions with a Caretaker.

8. Revenue Guarantee. Fairly offers a “Revenue Guarantee”, which guarantees a certain amount of revenue on the Fairly platform provided certain terms and conditions are met.
   1. Definitions.
      1. “Guarantee Period” means the 12 months starting with the first night of the first booking on Fairly.
      2. “Baseline Period” means the 12-month period immediately preceding the first night booked on Fairly’s platform.
      3. “Prior Performance Documentation” means the supporting documentation of Net Rental Revenue during the Baseline Period, delivered in a format and including the required data acceptable to Fairly.
      4. “Net Rental Revenue” means the total amount actually received by the Customer from nightly rental charges, excluding any direct fees incurred such as channel listing fees (e.g., Airbnb, VRBO commissions), credit card or payment processing fees, management or service fees (including the Fairly platform fee), and cleaning or service fees that are passed through to third parties and not retained by the Customer. Net Rental Revenue does not include taxes or security deposits, and Net Rental Revenue for the Baseline Period excludes any stays of 30 days or longer.
   2. Guarantee. If the Net Rental Revenue generated by your property during the Guarantee Period is not at least $5,000 higher than your Net Rental Revenue during the Baseline Period, Fairly will reimburse you for the difference, subject to the eligibility and limitations below and not to exceed, under any circumstances, the total Fairly Platform Fees you paid during the Guarantee Period. Within a reasonable time after the end of the Revenue Guarantee Measurement Period, Fairly will calculate any amount owed and notify you. Any amounts owed will be paid shortly thereafter.
   3. Eligibility. To be eligible for the Revenue Guarantee, you must meet all of the eligibility requirements below. Failure to meet these requirements may result in any Revenue Guarantee payment calculated above being reduced or voided, at Fairly’s sole reasonable discretion.
      
      1. Submit your Prior Performance Documentation to Fairly at guarantee@fairly.com by the start of the Guarantee Period, and provide any additional supporting documentation requested by Fairly as they verify Net Rental Revenue during the Baseline Period.
      2. Complete onboarding and follow the Fairly platform best practices, including proper calendar setup, pricing configuration, property review monitoring, and caretaker selection.
      3. Subject to any contrary provisions set forth elsewhere in these Terms (such as pricing or minimum stay policies), offer your property for rent through Fairly for the duration of the Guarantee Period in a comparable way to how you operated during the Baseline Period, including maintaining similar availability and booking policies.
      4. Maintain a median minimum stay policy of 2 nights or less during the Guarantee Period.
      5. Maintain pricing that is materially consistent with the Baseline Period, unless otherwise recommended by Fairly through its pricing intelligence tools.
   4. Limitations.The Revenue Guarantee payment may also be reduced or voided if: 
      1. Your property is removed or deactivated for any portion of the Guarantee Period;
      2. Availability is restricted (e.g., blocked dates, off-season closures, or reservations not through Fairly);
      3. Pricing, guest policies, or booking strategies are materially changed from the Baseline Period;
      4. You cancel any guest reservations;
      5. Your property is delisted or suspended due to noncompliance or performance; or
      6. Your rental property is impacted by events outside of our control, including new laws, property damage, or market disruptions.