Terms of Use

 

 

 

  1. Client hereby engages The Huntington Group, LLC d/b/a Rent Cloud Solutions™ (sometimes referred to as “Rent Cloud”) to perform certain services more specifically set forth herein (the “Services”).

  2. The Services shall consist of the following: a) Rent Cloud shall onboard Client’s tenant contact and bank information as supplied by tenant to Rent Cloud; and b) Rent Cloud shall facilitate Client’s tenant electronic execution of Client’s form lease agreement (a “Lease”) as uploaded by Client; and c) Rent Cloud shall remit to Client the tenant security deposit and/or rent payments that are received by Rent Cloud’s funds processor via Electronic Funds Transfer (“EFT”); all upon the terms and conditions set forth herein. Rent Cloud will not commence any of the Services until Rent Cloud receives all documents and/or information it deems necessary and notifies Client of the date that Rent Cloud will commence each of the Services. Rent Cloud will communicate said documents and information needed to Client.

  3. Client acknowledges that Rent Cloud will need certain information to perform its Services herein including such information necessary to verify the identity of Client, tenant, direct deposit bank accounts, and a Client designee contact(s) who will provide Rent Cloud and/or the funds processor with the Information and directives necessary for Rent Cloud to perform the Services (“Information”). Client is encouraged to utilize Rent Cloud’s multi-factor authentication feature as a measure of fraud protection/security and direct control of its information rather than rely upon its transmission of information directly to Rent Cloud via alternate means (e.g. telephone, e-mail, facsimile). Clients utilizing a “public” email account (e.g. @Yahoo.com™, @Gmail.com™, etc.) as opposed to a solely-owned domain name are more susceptible to “spoofing” which may result in a third party fraudulently issuing emails to Rent Cloud that appear to be from Client and can result in Rent Cloud unknowingly transmitting funds or other information to that third party. Clients with “public” email accounts are especially encouraged to obtain solely owned domain name email addresses as another fraud protection/security measure. Client hereby waives any and all claims, losses, or damages of any kind as against Rent Cloud resulting from Client’s failure to utilize a) Rent Cloud’s multi-factor authentication feature s, or b) a “non-public” email account (i.e. a domain based email account @yourcompanyname.com) in its communications with Rent Cloud. Client is responsible for the accuracy of the Information. Client agrees to safeguard its password and username access to the Rent Cloud web platform and is solely responsible for maintaining the security thereof. Client acknowledges that Client is responsible for any delayed remittance of funds incurred as a result of its failure to timely or accurately provide Information as required herein. Rent Cloud will not be required to obtain authorization from Client to act on Information. Rent Cloud will not be responsible for errors that result from Rent Cloud reliance on Client’s Information.

  4. Client agrees that its tenant shall remit funds to Rent Cloud via the funds processor representing security deposit, rent or other funds agreed upon between Client and tenant through EFT, or such other payment method as required by Rent Cloud. Client’s tenant bank account shall be debited for the sums due when the same become due pursuant to Client’s direction. All deposited Funds shall be collected by the funds processor and disbursed to Client pursuant to EFT. Rent Cloud shall notify Client if a tenant disconnects from the Rent Cloud software for a period exceeding 24 hours. Rent Cloud shall not be responsible for penalties, interest or late fees due pursuant to any Lease in the event tenant does not timely pay any monies due thereunder.

  5. All Electronic Funds Transfers shall be performed in conformity with the National Automated Clearing House Association (NACHA) operating rules. Client agrees that it will: (a) follow NACHA as may be amended from time to time; (b) not direct the initiation of any EFT that violates any law; and (d) allow Rent Cloud to identify Client and/or tenant to banks involved in the EFT. Client further agrees that it will notify Rent Cloud, pursuant to applicable NACHA and federal regulations, if funding for tenant’s monies due is received from a foreign financial agency, if Client requests monies to be directed to a foreign financial agency, or if any Client or tenant have non-U.S. addresses. Rent Cloud will not be held responsible for any loss, claim, or expense arising from any information provided or modified by Client or Client’s breach of NACHA. Notwithstanding anything to the contrary set forth herein, Rent Cloud is not responsible for providing any information in the event that Client’s or tenant’s bank is a foreign banking entity.

  6. Client shall pay, and be charged by, Rent Cloud a fee for the Services in the amount of three (3%) of all rents and other monies collected hereunder (other than any security deposit) (the “Fee”). Rent Cloud is hereby granted authority by Client to deduct the Fee from any tenant funds collected via EFT prior to remittance thereof to Client. In order to secure Client’s obligations to Rent Cloud pursuant to this Agreement, Client hereby grants Rent Cloud a right of set-off and a security interest in any of Client’s tenant funds which may now or hereafter be collected by Rent Cloud in the performance of the Services herein. 

  7. Client will review all reports, documents and/or funds transfers provided or made available by Rent Cloud and inform Rent Cloud of any inaccuracies within twenty (20) business days of receipt or availability. Client shall have waived any claim against Rent Cloud resulting from any alleged inaccuracies that have not been timely brought to Rent Cloud’s attention via written notice. Client acknowledges and agrees that Rent Cloud is not providing legal, tax, accounting, or any advice in connection with the Services to be performed.

  8. Rent Cloud shall use reasonable care to prevent the disclosure of Client’s confidential information that is either marked as “confidential” or is of such a nature that an ordinary person would have an expectation of confidentiality regarding same (“Confidential Information”). Rent Cloud may disclose Confidential Information to any entity or person entitled or expected to receive such information pursuant to this Agreement including Rent Cloud employees, agents, subcontractors, attorneys, accountants and the like. Rent Cloud may also disclose Confidential Information that is within the public domain through no fault of Rent Cloud, or that is already in Rent Cloud possession prior to its receipt from Client or is required to be disclosed under compulsion of court order, subpoena or other similar demand. Rent Cloud's obligations set forth in this paragraph 8 shall survive termination of this Agreement. Client hereby agrees and acknowledges that the name and mark Rent Cloud Solutions™ is the sole property of Rent Cloud and may not be used by Client in any manner, and Client shall refrain from any act that would tend to disparage same or interfere with the ownership thereof.

  9. Client agrees to indemnify and hold Rent Cloud, its employees, agents and principals harmless from all loss, liabilities damage and expenses, including actual attorneys’ fees, in connection with any claim which may arise out of or as a result of this Agreement or the performance of Rent Cloud, including, without limitation, any claim arising out of the use of Information furnished by Client.

  10. Either party hereto may cancel this Agreement upon no less than thirty (30) days prior written notice. Rent Cloud may immediately terminate this Agreement, or a portion thereof, upon written notice for any reason, including, but not limited to, the following events: (i) Client becomes subject to bankruptcy; (ii) Rent Cloud in its sole discretion determines that an adverse change has occurred in the financial condition of Client; or (iii) Rent Cloud determines in its sole discretion that any federal, state, or local legislation, regulatory action, or judicial decision adversely affects its interests under the Agreement. Termination of the Agreement shall not relieve Client of any obligations set forth herein, including but not limited to its payment obligations. If Client cancels this Agreement and does not provide thirty (30) days’ notice, the Client shall pay a fee equal to the prior thirty (30) days’ Rent Cloud Fees (“Penalty”). Client hereby grants Rent Cloud continued access to the Client’s bank account and Client’s tenants bank account for a period of thirty (30) days after termination of this Agreement as a means of remitting the aforesaid Penalty.

  11. The parties hereto agree that this Agreement shall be construed according to the laws of the State of New York and that any legal actions between the parties may only be brought in the County in which Rent Cloud maintains its principal business office. Rent Cloud shall be reimbursed for its attorney’s fees and costs in any action or proceeding.

  12. Rent Cloud’s liability arising from this Agreement shall be expressly limited, in its sole discretion, to the correction of any errors resulting from its breach of this Agreement. Rent Cloud shall not be liable for any act of negligence or omission, or any acts of third parties.  Under no circumstance shall Rent Cloud be liable for any indirect, incidental, special, punitive, or consequential damages, loss of profits or other economic loss incurred by Client, nor for any damages whatsoever exceeding in the aggregate the prior month’s Fee. Any claim against Rent Cloud must be asserted within twelve (12) months of accrual thereof or same shall be barred. CLIENT AGREES AND ACKNOWLEDGES THAT RENT CLOUD IS NOT ISSUING ANY EXPRESS OR IMPLIED WARRANTIES INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

  13. Client agrees and acknowledges that Rent Cloud shall only act as a facilitator for Client in the performance of the Services. Our relationship is that of independent contractors, and no agency, partnership, joint venture, employee-employer or franchisor-franchisee relationship is intended or created by this Agreement or use of the Rent Cloud web platform. Rent Cloud is not a party to any Lease nor has it in any manner whatsoever been involved in, nor will Rent Cloud become involved in, the advertisement, rental, tenant screening process, rental property suitability, lawfulness or condition of the property, compliance with any laws applicable to housing rental including, but not limited to, fair housing laws and anti-discrimination laws. Rent Cloud is also not responsible or liable for the collection of any monies that remain unpaid by tenant, nor any enforcement of any Lease term, nor anything other than what is stated in this Agreement.

  14. This Agreement sets forth the parties’ entire understanding and supersedes all prior understandings and agreements (oral or written) between the parties. Client acknowledges that no representations or warranties have been made by Rent Cloud other than to the extent set forth herein. This Agreement may not be amended or modified by Client unless reduced to writing signed by Rent Cloud. Client hereby agrees that Rent Cloud may make any amendment or modification hereto via electronic means upon notice to Client and opportunity to “click-wrap” Client’s acceptance thereof. Client shall be deemed to have accepted such amendment or modification if it fails to accept same via “click-wrap” after notice and Client has not thereafter terminated the Agreement prior to the Effective Date of the amendment or modification. For purposes of this Section 14, the Effective Date shall be thirty (30) days after Rent Cloud’s aforesaid notice. In the event that Client terminates this Agreement pursuant to this paragraph 14, no Penalty shall be due from Client to terminate this Agreement prior to the end of term. If any provision of this Agreement is determined to be illegal or invalid or unenforceable, such illegality, invalidity or unenforceability shall not affect any other provision of this Agreement. This Agreement may not be assigned by Client without the prior written authorization of Rent Cloud in its sole discretion.


By signing below, the Client acknowledges that it has reviewed, understood and accepted the Terms and Conditions which it has accessed via https://www.rentcloudsolutions.com which are applicable and incorporated herein by reference.