General terms and conditions for the management of residential complexes of Studentkompanie Betriebs GmbH

Preamble

Studentkompanie Betriebs- GmbH, Rheinstraße 4C, 55116 Mainz, Germany, (hereinafter referred to as “STK” or “the manager”) manages residential complexes for multiple persons (hereinafter referred to as “residential complexes”). The management also includes the respective facilities, such as underground car parks or gardens. Its services are addressed directly to the owners (hereinafter also referred to as “clients”) of such residential complexes. For this purpose, STK concludes a property management contract with the client. These general terms and conditions (hereinafter referred to as “GTC”) are incorporated into the contract. By concluding the contract, the client accepts these general terms and conditions. These terms and conditions are available for review and printing at www.the-urbanclub.com.

1. Type of activity

STK handles the commercial and technical management of residential complexes for the owner. To this end, a separate property management contract is concluded between the owner as the client and STK as the contractor.

2. Scope of services

• The commercial management comprises the following activities:
• The search for and selection of suitable tenants
• Establishment of tenancies
• Ongoing booking of rental income and expenses and keeping of tenant accounts with preparation of monthly and/or annual statements
• Preparation of rental contracts
• Management and maintenance of the tenant database
• Preparation of invoices for operating and ancillary costs
• The contact for tenants, craftsmen, service providers or other third parties with regard to the residential property
• Representative of the client towards the authorities
• Implementation of rent increases
• Dunning process
• Notices of termination (receipt/issuance)
• Assertion of warranty claims and exercise of rights of retention
• Processing of insurance claims
• Apartment handovers
• Marketing of vacant housing units or those that are to become vacant
• The technical management includes the following activities:
• Ensuring the functionality of the sanitary, heating and other installations
• Conclusion and termination of supply and maintenance contracts
• Conclusion of contracts with property managers and other service providers, e.g. cleaning work, garden maintenance
• Obtaining offers and awarding of contracts for repairs
• Supervision of repairs
• Planning of renovation measures
• Inspection of the residential complexes to determine the condition
• Informing the client about all important matters relating to the residential complex

Services of individual property management contracts may deviate from this.

3. Duties of the manager
   • The manager shall undertake to keep proper accounts of all revenue and expenditure relating to administrative operations and to ensure that original supporting documents are collected in an orderly manner.
   • The administrator will invoice the client annually by January 1. By April 1 of each year, he must submit a business plan for the coming year to the client, in which expected income and necessary costs as well as possible surpluses or losses are presented.

4. Remuneration
   • The remuneration is based on the respective property management contract.
   • The value added tax is calculated according to the currently valid value added tax rate.
   • The remuneration is due monthly in advance, by the third working day at the latest.
   • If the manager provides services that go beyond the services mentioned in § 2 of these GTC or are agreed separately in the property management contract, a separate invoice will be issued for these services.

5. Power of attorney
   • The client shall immediately, but no later than upon commencement of the activity, grant the manager a written power of attorney in text form regarding the content of the delegated powers.
   • The manager must hand over the power of attorney to the client upon termination of the activity.

6. Substitution
   • The manager undertakes to take responsibility for substitution in the event of illness, vacation or other hindrances.
   • The substitute becomes the vicarious agent of the manager.

7. Liability insurance

The manager shall provide the client with proof of liability insurance before the start of the activity. He is obliged to maintain the insurance during the term of the contract.

8. Liability
   • STK shall only be liable for damages caused by it or by its legal representatives or vicarious agents, for whatever reason, in the event of intent and gross negligence. In the case of simple negligence, STK shall only be liable for damages resulting from injury to life, body or health or for damages resulting from the violation of an important contractual obligation. In this case, however, liability is limited to compensation for the foreseeable, (contractually) typical damages according to the type of service. Except in the case of intent and gross negligence, STK shall not be liable for indirect damages, such as additional expenses, lost profits or missed savings. Any further liability of STK is excluded.
   • STK shall only be held liable for damages resulting from delay in performance in the event of intent and gross negligence. Other rights of the client in case of default remain unaffected.

9. Term and termination

The term and termination process depend on the respective property management contract.

10. Termination
    • If the property management contract is terminated, regardless of the reason, the manager is obliged to hand over all records, plans, contracts, account statements, protocols and all other documents in connection with the previous management activity to the client or the new property manager in original form. There is no right of retention.
    • The manager undertakes to present the documents mentioned under 7.1. to the client or the new property manager in an orderly and verifiable manner and to explain the documents upon request.
    • The manager is obliged to notify any third party, in particular banks and authorities, in writing immediately after termination of the management agreement of the termination of the management agreement and the expiry of the powers of attorney associated therewith.

11. Data privacy

We refer to our privacy policy that is available at www.the-urbanclub.com.

12. Other
    • Apart from possible individual agreements in the property management contract, no other written or verbal collateral agreements have been reached.
    • German law applies.
    • The place of jurisdiction is Mainz.
    • STK is entitled to make changes to the service description and other conditions for good reasons. Such reasons are in particular technical developments or changes in case law. The changes can be omitted if and insofar as the contractual balance between STK and the client is no longer maintained. Otherwise, the changes require the consent of the client.

Status: July 2020