Listing Agreement

General Principles

The following principles govern the interpretation and application of this agreement in its entirety. In the event of any ambiguity, these principles serve as the primary interpretive framework. Specific operational clauses elsewhere in this agreement develop and apply these principles to concrete situations. In case of apparent conflict between a General Principle and a specific clause, the specific clause prevails as the more precise expression of the parties' intent for that particular situation, while remaining subject to the interpretive framework of the General Principles.

Intermediary Platform

Flatmaters acts exclusively as a digital intermediary platform and neutral custodian of funds. It is not a landlord, property manager, real estate broker, or legal representative of either party. All contractual rights and obligations arising from the rental relationship exist exclusively between the Property Owner and the Student.

Custody of Funds

The Booking Fee and Security Deposit are held at all times by Flatmaters in a designated segregated account, entirely separate from Flatmaters' own operational funds. These funds are never transferred to the Property Owner during the reservation or rental period, except through the specific distribution mechanisms expressly provided in this agreement. Flatmaters acts as sole neutral custodian and processes all distributions from these funds in accordance with the agreed allocation.

Limit of Flatmaters' Financial Obligation

Flatmaters' financial obligations are strictly limited to the funds it holds in custody in respect of the parties involved in the relevant Booking and to the commissions actually received in connection with that Booking. Flatmaters does not guarantee the performance of either party, does not advance funds from its own resources beyond what it holds, and does not assume financial liability for amounts it has not recovered from the defaulting party. The Owner and the Student retain the independent right to pursue unrecovered amounts directly against each other through applicable legal means.

Applicable Law and Local Mandatory Provisions

This agreement is governed by the laws of Estonia. Where mandatory provisions of the law of the jurisdiction where the listed property is located impose requirements that are more protective of either party, those provisions apply to the extent required by that mandatory law. All penalties, obligations, and rights set out in this agreement apply to the maximum extent permitted by applicable law.

Good Faith

Both parties commit to performing their obligations under this agreement and the Rental Agreement honestly, reasonably, and in good faith. Flatmaters exercises its discretionary functions — including validation of claims, assessment of disputes, and application of penalties — acting reasonably and in good faith, without bias towards either party.

Non-Intervention During the Rental Period

The Property Owner and the Student manage day-to-day operational matters relating to the accommodation directly between themselves. Flatmaters does not supervise, validate, or intermediate routine communications during the Semester Period. Flatmaters intervenes only in cases of serious breach, safety concerns, dispute escalation expressly requested by either party, or activation of termination procedures under this agreement.

Binding Nature of the Confirmed Listing

All terms, prices, rules, and conditions published in the Listing at the moment of Booking confirmation are binding and irrevocable for the duration of the Semester Period. No modification to the confirmed terms may be introduced by either party after confirmation. Any charge, condition, or obligation not established in the confirmed Listing is unenforceable against the Student.

Non-Guarantee Principle

Flatmaters is not a guarantor, insurer, surety, or underwriter of the performance of either the Owner or the Student. Where this agreement provides for Flatmaters to transfer funds to the Owner as indemnification for Student non-performance, or to the Student as refund for Owner non-performance, Flatmaters' obligation is strictly limited to: (i) transferring funds it already holds in custody; and (ii) pursuing reasonable recovery efforts from the defaulting party as defined in Section 24.4. Any shortfall between the funds held by Flatmaters and the amounts owed by the defaulting party is a claim the non-defaulting party holds directly against the defaulting party, not against Flatmaters. Flatmaters will provide documentation to support such direct claims upon request.

Custody Does Not Imply Guarantee

Flatmaters' role as custodian of the Security Deposit does not imply any guarantee of the suitability, condition, or performance of the accommodation, nor of the conduct of the Property Owner or the Student. Flatmaters distributes funds on the basis of documented evidence and the processes set out in this agreement, not on the basis of subjective judgment or assumption of liability.

1. Parties and Definitions

1.1 Parties

This Listing Agreement is entered into between Flatmaters OÜ (registered in Estonia, registrikood 16973199, with registered office at Järvevana tee 9, 11314 Tallinn, Estonia, hereinafter "Flatmaters") and the natural or legal person who creates the account on the Platform and publishes the Listing (hereinafter the "Property Owner" or the "Owner"). For the avoidance of doubt, the "Owner" for contractual purposes is the holder of the account and of the Listing, regardless of whether they hold legal title to the property or act under another title that validly empowers them to publish and rent it out (administrator, tenant with sub-letting authority, agent, attorney-in-fact, authorised family member, or other person with valid authorisation). By creating an Owner account and publishing or activating a Listing on the Platform, the Owner accepts this agreement in its entirety.

1.2 Operational Representative

The Owner may additionally designate an operational representative (administrator, property manager, agent, family member, or other authorised person) to coordinate day-to-day management in connection with one or more Listings. This designation is optional, does not transfer or alter the Owner's contractual position and does not affect the identification recorded in the Platform account: the Owner remains the sole contractual party under this agreement and the Rental Agreement. All acts of the designated representative within the scope of the authorisation granted by the Owner are deemed acts of the Owner for all purposes. The Owner is responsible for ensuring the representative's compliance with this agreement and remains fully liable for any breach.

1.3 Definitions

For ease of reference, the following terms used in this agreement have the meanings set out below. These definitions are aligned with the equivalent terms in the Flatmaters Terms of Service and Booking Conditions.

• Accommodation means any furnished room, apartment, house, or residential unit listed on the Platform by the Owner.
• Base Price means the monthly rental amount set by the Owner in the Listing Currency, exclusive of Flatmaters' service commission and the Currency Stability Fee.
• Booking means a confirmed reservation arising from the Owner's express acceptance of a Booking Request through the Platform.
• Booking Fee means the payment made by the Student to confirm a Booking, equivalent to one month of rent at the Final Price.
• Booking Request means a reservation request submitted by a Student through the Platform, subject to acceptance by the Owner.
• Currency Stability Fee means a service fee retained by Flatmaters to cover the exchange rate risk where the Student's payment currency differs from the Listing Currency. Defined in detail in Section 1.4 of the Terms of Service.
• Final Price means the total monthly amount paid by the Student, comprising the Base Price, Flatmaters' service commission and, where applicable, the Currency Stability Fee.
• Inventory means the documented record of the Accommodation's condition, furnishings, and equipment, prepared by the Owner and shared with the Student at handover.
• Listing means the public publication of an Accommodation on the Platform, including price, description, photographs, Property Rules, and other terms set by the Owner.
• Listing Currency means the currency in which the Owner sets the Base Price in the Listing (EUR or CLP by default). It constitutes the actual underlying currency of the Accommodation contract.
• Platform means the Flatmaters website, booking systems, communication channels, CRM tools, applications, and all related digital services operated by Flatmaters.
• Property Rules means the rules of use of the Accommodation set by the Owner in the Listing.
• Reference Price means the sum of the Base Price and the Flatmaters service commission, expressed in the Listing Currency. It is displayed to the Student alongside the Final Price for transparency.
• Rental Agreement means the residential lease contract between the Owner and the Student, generated by Flatmaters from the Listing terms and signed by both parties. The current model of the Rental Agreement template is available for reference at www.flatmaters.com/rental-agreement-template.
• Security Deposit means the guarantee constituted upon the Student's arrival and signature of the Rental Agreement, by re-designation of the Booking Fee. Held in full (100%) by Flatmaters as sole neutral custodian.
• Monthly Rental Period means each monthly billing cycle within the Semester Period. By default and unless otherwise specified in the Listing, each Monthly Rental Period runs from the 21st of one month to the 20th of the following month.
• Semester Period means the standard availability periods defined by the Platform (currently, approximately February to July and July to December), composed of consecutive Monthly Rental Periods as defined above. Exact dates are specified per Listing. Some Listings may offer a shorter availability period, with a minimum duration of three months, upon the Owner's prior request to Flatmaters (as set out in Section 4.1).
• Student means any natural person registered on the Platform booking or seeking to book Accommodation.

Where a term used in this agreement is not defined here, it has the meaning given in the Terms of Service.

1.4 Document Hierarchy

This Listing Agreement governs the relationship between the Owner and Flatmaters regarding the listing, management, and commercialisation of the Accommodation on the Platform. It must be read alongside the Flatmaters Terms of Service, which remain in full force.

In the event of any conflict between documents, the order of precedence is:

• Listing Agreement (for Owner-Flatmaters matters — this agreement)
• Rental Agreement (for Owner-Student matters)
• Booking Conditions (for Student-Flatmaters matters relating to a specific Booking)
• Terms of Service (master framework governing all Platform use)

This Listing Agreement prevails over the Terms of Service for matters expressly governed herein, as the document specifically governing the Owner-Flatmaters relationship.

2. Platform Role and Rental Agreement Generation

2.1 Technical Infrastructure Role

Flatmaters provides the technical infrastructure that enables the Owner to publish Listings, receive Booking Requests, generate Rental Agreements from the Listing terms, collect rent through the Platform, and manage the Security Deposit. The Rental Agreement is generated by Flatmaters from the terms accepted by the Owner in the Listing; it is signed by the Owner upon acceptance of the Booking Request and by the Student in accordance with Section 5.3 of the Terms of Service.

The Owner is bound by the version of the Rental Agreement template in force at the time of confirming each Booking, in accordance with the irretroactivity principle established in Section 2.3 of the Terms of Service.

2.2 Flatmaters' Role and Limitations

Flatmaters acts exclusively as a digital intermediary platform and neutral custodian of funds. Flatmaters is not the landlord, property manager, real estate broker, or legal representative of the Owner. The rental relationship arising from each confirmed Booking is exclusively between the Owner and the Student.

2.3 Communication During the Rental Period

The Owner and the Student manage day-to-day operational matters relating to the Accommodation directly between themselves. Flatmaters does not supervise, validate, or intermediate routine communications during the Semester Period. Flatmaters intervenes only in cases of serious breach, safety concerns, dispute escalation expressly requested by either party, or activation of procedures expressly provided in this agreement.

2.4 Duration of this Agreement

This agreement enters into force upon the Owner's acceptance during account creation or upon publication of the first Listing, whichever occurs first. It remains in force for as long as the Owner maintains an active account on the Platform, subject to the termination provisions of Section 22.

3. Owner Registration and Eligibility

3.1 Registration Requirements

To create an Owner account and list Accommodation on the Platform, the Owner must:

• be of legal age and have full legal capacity to enter into binding agreements, or, where the Owner is a legal entity, be duly incorporated and represented by a person with authority to bind the entity;
• be the legal owner of the Accommodation, or hold a valid right of disposition over it (usufruct, lease with sublease authorisation, mandate from the legal owner, or equivalent) sufficient to enter into and perform the Rental Agreement;
• provide accurate, complete, and truthful information about identity, contact details, and the Accommodation;
• comply with all applicable local laws and regulations relating to the rental of the Accommodation, including registration, licensing, zoning, and tax obligations.

3.2 Identity and Authorisation Verification

Flatmaters may, at any time and at its sole discretion, require the Owner to provide documentation verifying identity, legal capacity, ownership of or right of disposition over the Accommodation, and compliance with applicable local registration or licensing requirements. Failure to provide such documentation within a reasonable timeframe may result in suspension or removal of Listings and, where appropriate, termination of this agreement.

4. Listing Requirements

4.1 Accuracy and Completeness

The Owner is solely responsible for the accuracy, completeness, and lawfulness of all information published in each Listing. This includes (without limitation): location and address, description of the Accommodation, photographs, dimensions, included furnishings and equipment, utilities configuration, Property Rules, Base Price, availability periods, and any other condition presented to prospective Students.

The Owner warrants that all information published in the Listing reflects the actual condition and characteristics of the Accommodation at the time of publication and at the time of each Booking confirmation. Photographs must depict the actual Accommodation, may not be misleading, and may not be sourced from other properties or stock images.

The Owner may request from Flatmaters that a specific Listing offer a shorter availability period than the standard academic semester, with a minimum duration of three months. The request applies only to that specific Listing; the processes, timeframes, and dates set out in the remaining provisions of this agreement remain unchanged.

4.2 Pre-Listing Property Declaration

By publishing or activating a Listing, the Owner expressly declares that the Accommodation:

• is habitable and complies with applicable safety, sanitary, and habitability standards in the jurisdiction where it is located;
• has functional and operational essential services, including water, electricity, and any utility presented as included in the Listing;
• is free of material defects, structural problems, pest infestations, or hazards not disclosed in the Listing;
• complies with all applicable legal requirements for residential rental, including registration, licensing, fire safety, and any other regulatory obligation in the relevant jurisdiction;
• is not subject to any encumbrance, dispute, or condition that may prevent or limit the Owner's ability to deliver the Accommodation in accordance with the Listing throughout the Semester Period;
• the Listing identifies and expressly discloses any permanent or long-term occupants of the Accommodation other than the Student (the Owner themselves, the Owner's family members, other tenants, resident service staff, etc.), as well as any non-sporadic presence of third parties that may affect the Student's use of the Accommodation. Failure to disclose such occupants constitutes a materially false declaration for the purposes of Section 4.3 and may trigger the Material Discrepancy procedure under Section 10.3 of the Terms of Service if discovered by the Student upon arrival.

This declaration is essential and is incorporated by reference into each Rental Agreement generated from the Listing.

4.3 Consequences of False Declaration

False, materially incomplete, or misleading information in the Listing or in the Pre-Listing Declaration may constitute a Material Discrepancy under Section 10.2 if discovered by the Student upon arrival, and may trigger the consequences set out therein and in Section 10.3 of the Terms of Service. Beyond this, repeated or fraudulent false declarations may result in suspension or removal of Listings under Section 20.2 and termination of this agreement under Section 22.

4.4 Consistency with Rental Agreement — Binding Nature of Confirmed Terms

The terms accepted by the Owner in the Listing at the moment of each Booking confirmation are incorporated by reference into the corresponding Rental Agreement. The Owner may not introduce, modify, or impose terms inconsistent with or additional to those of the confirmed Listing after Booking confirmation. Any such additional charge, condition, or obligation is unenforceable against the Student.

4.5 Intellectual Property of Listing Content

The Owner retains ownership of the content uploaded to the Listing (photographs, descriptions, videos). By publishing the Listing, the Owner grants Flatmaters a non-exclusive, worldwide, royalty-free licence to use, reproduce, adapt, display, and distribute such content on the Platform and in Flatmaters' marketing materials, for the duration of the listing and a reasonable period thereafter for archival, dispute resolution, and historical reference purposes. The Owner warrants that the content does not infringe third-party rights.

5. Property Rules

5.1 Baseline Standards of Conduct

Whether or not specific Property Rules have been established for an Accommodation, every Student commits to use the Accommodation in accordance with good faith, ordinary residential customs, common standards of respect and decency, and all applicable laws. The Owner acknowledges that, by accepting the Booking Conditions, every Student is bound by the following baseline standards, which apply by default and in addition to any specific Property Rules published in the Listing.

Unless expressly authorised in the Listing or by the Owner in writing, the following acts are not permitted in any Accommodation:

• drilling holes, fixing items to, or causing any damage to walls, floors, ceilings, doors, windows, or the structure of the Accommodation;
• moving, removing, rearranging, or repurposing the furniture, appliances, or equipment of the Accommodation;
• carrying out renovations, alterations, painting, or works of any kind in the Accommodation;
• smoking, vaping, or using any combustible substance inside the Accommodation;
• keeping animals or pets of any kind;
• hosting parties, gatherings, or events of any kind on the premises;
• sharing keys, access codes, fobs, or copies of any of the foregoing with any person who is not a registered occupant of the Accommodation;
• allowing any person not registered in the Booking to reside in or use the Accommodation, whether or not for consideration;
• accumulating waste inside the Accommodation, or failing to dispose of household waste in accordance with the building's or community's collection schedule and rules;
• flushing or pouring inappropriate items into toilets, sinks, drains, or any plumbing fixture — including but not limited to paper other than toilet paper, sanitary products, food waste, oils, grease, solvents, or any solid or chemical substance that may damage the plumbing system;
• tampering with, disconnecting, or disabling smoke detectors, fire alarms, security devices, or any safety equipment installed in the Accommodation;
• making excessive noise, particularly during night hours or hours protected by local regulations or community rules;
• storing or introducing flammable, explosive, toxic, or otherwise hazardous substances on the premises;
• engaging in unsanitary, hazardous, disruptive, immoral, or unlawful activities, or any activity that disturbs neighbours, other residents, or the building community.

Where the Owner wishes to authorise any of the above for a specific Accommodation (for example, pets allowed), such authorisation must be expressly stated in the Listing prior to Booking. Authorisations stated in the Listing prevail for that specific item.

5.2 Owner's Exclusive Authority and Limits

The Owner has exclusive authority to set the Property Rules applicable to the Accommodation beyond the baseline standards of Section 5.1, including rules on guests, noise, smoking, animals, use of common areas, and any other matter relating to the use of the Accommodation. Property Rules must be set out clearly in the Listing at the time of publication and may not be modified after a Booking is confirmed (in relation to Section 4.4 of the Terms of Service, which governs the Student's acceptance of the Property Rules).

Property Rules must comply with applicable law, must not discriminate against Students on prohibited grounds (Section 20.1), and must not impose conditions disproportionate to the legitimate interests of the Owner and the Accommodation. Property Rules that are unlawful, discriminatory, or disproportionate are unenforceable against the Student.

5.3 Financial Penalties in Property Rules

The Owner may include financial penalties in the Property Rules for specific breaches of verifiable conduct (for example, a fine for smoking inside the property where prohibited, a fee for unregistered guests or guests exceeding the permitted limit, charges for parties or excessive noise, or similar breaches of the Property Rules). Such penalties must be reasonable in amount, proportionate to the actual loss caused by the breach, and clearly stated in the Listing at the time of Booking. Penalties not disclosed in the Listing at the time of Booking are unenforceable against the Student. Material damage caused by the Student (breakages, deterioration, loss of items, etc.) is governed by the Security Deposit Damage Assessment Process. Late check-out charges are governed by the daily non-vacating penalty set out in Terms of Service §15.5 and Booking Conditions §19.3.

5.4 Community Rules

Where the Accommodation is located in a building or complex subject to a co-ownership, condominium, or community management regime, the Owner is responsible for informing the Student of the applicable community rules at the time of Booking. The Student is bound by such rules to the extent they are reasonable, disclosed in advance, and consistent with residential use of the Accommodation.

5.5 Guest Policy

The Owner sets the policy on guests, overnight stays, and additional occupants in the Property Rules. In the absence of an express policy, occasional reasonable guest visits are permitted; overnight stays by non-registered occupants extending beyond a few days require the Owner's consent. The Student may not allow any unregistered occupant to reside in the Accommodation on a continuous basis.

6. Pricing and Currency

6.1 Base Price, Listing Currency and Final Price

The Owner sets the Base Price for each Listing in the currency of the Owner's choice (the "Listing Currency"), which constitutes the actual underlying currency of the Accommodation. Flatmaters adds its service commission and, where applicable, the Currency Stability Fee to produce the Final Price displayed to the Student in the Student's payment currency.

The Final Price is fixed once a Booking is confirmed and may not be modified for that Booking, save as provided in Section 6.3.

6.2 Reference Price Display

For transparency, Flatmaters displays to the Student, alongside the Final Price in the Student's payment currency, the Reference Price in the Listing Currency, equivalent to the sum of the Base Price and the service commission.

6.3 Material Exchange Rate Volatility Adjustment

Flatmaters absorbs ordinary exchange rate fluctuations between the Listing Currency and the Student's payment currency throughout the duration of each Booking. As an economic safeguard, Flatmaters reserves the right to adjust the Final Price only where the exchange rate between the Listing Currency and the Student's payment currency varies by more than 10% from that of the date of the Booking, in either direction, during the duration of the Booking. The exercise of this right is neither automatic nor mandatory.

Where applied, the adjustment is limited strictly to the exchange rate difference exceeding the threshold, without any additional margin, and may operate both upward and downward. The Base Price in the Listing Currency remains unchanged throughout the Booking. The Owner acknowledges and accepts this mechanism, which operates within Flatmaters' commission and Currency Stability Fee component and does not affect amounts due to the Owner under Section 9.1. The full mechanism is set out in Section 4.6 of the Terms of Service.

6.4 Tax Acknowledgment

By accepting this agreement, the Owner confirms and acknowledges that:

• the Base Price set by the Owner is the gross price including all taxes applicable to the Owner's rental activity in the relevant jurisdiction;
• the Owner is solely responsible for determining the tax treatment applicable to the rental income, for issuing any invoices, tax documents, or receipts required under applicable law, and for declaring and paying all applicable taxes, including income tax, VAT or equivalent local consumption tax, and any other tax applicable to the rental of the Accommodation;
• Flatmaters does not assume any tax liability on behalf of the Owner and does not act as the Owner's tax agent or representative.

This tax acknowledgment is incorporated by reference into each Rental Agreement generated from the Listing.

6.5 Monthly Settlement Statement

Flatmaters provides the Owner with a monthly rental settlement statement through the Platform, showing the amount of the Base Price received in custody from the Student for that Booking, any applicable adjustments (amounts validly owed by the Owner, set-off deductions or other legitimate additions or discounts), and the net amount actually transferred to the Owner. This statement is provided exclusively to facilitate the Owner's traceability and own tax compliance and does not constitute tax advice or a tax invoice issued by Flatmaters on the Owner's behalf.

7. Booking Process

7.1 Availability Calendar

The Owner is responsible for keeping the availability calendar of each Listing accurate and up to date. Listings published on the Platform are deemed available unless the calendar indicates otherwise.

7.2 Booking Request and Acceptance

The Booking Process follows the structure set out in Section 5.2 of the Terms of Service. Once a Student initiates a Booking, the Listing is withdrawn from public view for an initial 24 hour stage during which the Student completes payment and personal presentation. Once Flatmaters confirms receipt of payment, the Owner receives the Booking Request and has a further 24 hour stage to accept or decline.

Acceptance of the Booking Request constitutes the Owner's electronic signature of the Rental Agreement specific to that Booking. Decline or non-response within the 24 hour stage releases the Booking Request and returns the Listing to active status; the Student's full Booking Fee is refunded.

7.3 Obligations Upon Confirmation

Upon acceptance of a Booking Request, the Owner is bound by the terms of the confirmed Listing and the Rental Agreement generated therefrom. The Owner undertakes to:

• ensure the Accommodation is ready for handover from the start date of the Semester Period specified in the Listing — the start of the reserved period — regardless of the Student's declared arrival date;
• maintain the Accommodation in the condition and configuration declared in the Listing throughout the Semester Period;
• deliver the Accommodation to the Student on the declared arrival date in accordance with Section 10;
• refrain from accepting any other reservation for the same Accommodation for the same period through any channel.

8. Engagement and Inactivity

8.1 Engagement Obligation

The Owner undertakes to respond to Booking Requests, communications from Flatmaters, and reasonable communications from Students within the timeframes established in this agreement and in the Platform. Active engagement is essential for the proper functioning of the Platform and for the Student's experience.

8.2 Inactivity Protocol

Where the Owner fails to respond to Booking Requests, Flatmaters' communications, or reasonable Student communications within the applicable timeframes, the following escalation applies:

• First non-response: no action; treated as an isolated event.
• Second consecutive non-response, or third within any 6-month period: Flatmaters sends an automated notification drawing attention to the pattern.
• Third consecutive non-response, or fourth within any 6-month period: Flatmaters contacts the Owner directly. The Owner has 7 calendar days to provide a valid explanation and commit in writing to active engagement.
• Absence of satisfactory response: formal notice of Listing suspension.
• Continued non-response after formal notice: the Listing is removed.

Reactivation requires the Owner's initiative and is at Flatmaters' sole discretion. Suspension or removal for non-responsiveness does not generate a financial penalty and does not affect confirmed Bookings already in force, which remain governed by the Rental Agreement.

9. Payments to the Owner

9.1 Monthly Rent Transfers

Flatmaters transfers each monthly rent payment to the Owner between the 1st and the 7th of the calendar month immediately following the applicable Payment Window, net of the service commission and any applicable fees, in the receiving currency specified by the Owner. The transfer is conditional upon Flatmaters having received the corresponding rent payment from the Student.

Where the Student pays a monthly instalment late and the transfer to the Owner for that Payment Window has already passed, Flatmaters will transfer to the Owner the amounts actually received from the Student within 24 hours of receipt, after deducting the items provided for in this Section. If the amount received from the Student is partial, Flatmaters will transfer the corresponding proportional part to the Owner; the remaining balance will likewise be transferred within 24 hours of actual receipt.

Where the Student fails to pay rent on time, Flatmaters does not advance funds from its own resources. Flatmaters pursues reasonable recovery from the Student in accordance with the procedures applicable to late payment under the Terms of Service and this agreement; any amount not recovered remains the Owner's direct claim against the Student, subject to Flatmaters' support obligations under the General Principles.

9.2 Booking Fee and Security Deposit Custody

The Booking Fee and the Security Deposit are held at all times by Flatmaters in a segregated account, entirely separate from Flatmaters' own operational funds, as sole neutral custodian. These funds are not transferred to the Owner during the Semester Period, except through the specific allocation mechanisms expressly provided in this agreement, the Terms of Service, and the Booking Conditions.

9.3 Commission

Flatmaters retains, from each monthly rent payment received from the Student, a service commission as published in the Owner-facing area of the Platform and accepted by the Owner upon publication of the Listing. The commission rate and structure may evolve for new Listings; existing confirmed Bookings remain governed by the commission accepted at the time of Booking.

9.4 Payout Currency, Receiving Account and Transfer Costs

The Owner selects the payout currency upon publishing the Listing, within the currencies operationally available to Flatmaters from time to time (currently EUR, USD and CLP, subject to reasonable update by Flatmaters with prior notice). The Owner may change the payout currency for future Bookings by written request to Flatmaters, subject to operational availability. The payout currency applicable to a confirmed Booking already in progress may not be changed, even where the alternative currency requested is one of the operationally available currencies, save with Flatmaters' express written acceptance.

The Owner is solely responsible for: (i) holding a bank account capable of receiving payments in the chosen currency in their jurisdiction of domicile; (ii) bearing any banking fees, international transfer costs, currency conversion costs, banking or tax withholdings, maintenance charges or other operational costs applied by the receiving bank or by the foreign exchange regulations of the destination country; and (iii) complying with the foreign exchange, tax and regulatory rules applicable in their jurisdiction in relation to receipts from abroad, including reporting, invoicing and currency liquidation obligations.

Where the Owner's payout currency differs from the currency in which the Student pays, Flatmaters performs the necessary conversion. Conversion is performed at the rate applicable on the date of transfer to the Owner. The Currency Stability Fee under Section 6.1 covers Flatmaters' exposure to ordinary fluctuations; it does not generate any benefit or obligation for the Owner.

Any difference between the amount transferred by Flatmaters in the chosen currency and the amount actually credited to the Owner's account arising from the factors set out in this Section is the sole responsibility of the Owner and may not be claimed against Flatmaters.

9.5 Set-Off Rights

Flatmaters is authorised to apply set-off against amounts held in custody for the Owner or due to the Owner, in connection with:

• cancellation penalties under Section 15;
• indemnification obligations under Section 17 (termination of Rental Agreement);
• refunds to the Student under Material Discrepancy procedures (Section 10.2);
• any other amount validly due by the Owner to Flatmaters or to the Student under this agreement, the Terms of Service, or the Rental Agreement.

Set-off is applied as a contractual mechanism for efficient settlement and does not prejudice the Owner's right to contest the underlying amount through the dispute resolution procedures in Section 25.

9.6 No Guarantee of Occupancy

Flatmaters does not guarantee any specific level of occupancy, visibility, or revenue. The volume of Booking Requests received by a Listing depends on multiple factors including price competitiveness, location, photographs, reviews, Property Rules, and market demand. Flatmaters provides the technical infrastructure and best-effort marketing support but does not warrant commercial results.

9.7 Direct Payments Prohibition

The Owner may not receive any payment relating to a Booking directly from the Student outside the Platform, except for: (i) items expressly declared in the Listing as payable directly to the Owner (Common Expenses where applicable, Property Rule penalties, or other specific charges declared); (ii) utility consumption recoverable under Section 14.3 of the Terms of Service (the excess part above the applicable monthly cap or, where utilities are not included in the Booking, the amount due as set out in the Listing); and (iii) direct settlements between the parties under Section 11.3 of the Terms of Service (minor damages or other amounts owed during or at the end of the stay, without Flatmaters' involvement). Direct collection of monthly rent, Booking Fee, or any other amount that should flow through the Platform constitutes a material breach of this agreement and triggers the anti-bypass consequences of Section 19.

10. Handover at Arrival

10.1 Owner's Handover Obligations

On the Student's declared arrival date, the Owner shall:

• deliver the Accommodation clean, ready for occupation, and in the condition declared in the Listing;
• hand over all keys, access codes, and remote controls necessary for full use of the Accommodation;
• when one exists, present the Inventory in accordance with Section 12 and share it with the Student;
• provide essential information for use of the Accommodation, including instructions for utilities, internet access, and applicable community rules;
• be available, or make a designated operational representative available, during the handover, where this is necessary for the effective making available of the Accommodation to the Student (for example, physical handover of keys, presentation of the Inventory, or access to the property).

The handover obligations are essential. Material breach may give rise to the Material Discrepancy procedure under Section 10.2 or to termination by the Student under Section 17.4.

Duty to procure Student signature. The Owner is required to request from the Student the signature of the Rental Agreement within 24 hours of physical arrival at the Accommodation. Failure of the Owner to act diligently in requesting the signature, where the Student is present at the Accommodation, may be classified as Platform bypass under Section 19 and Section 3.6 of the Terms of Service, with the consequences provided therein.

10.2 Material Discrepancy at Arrival

Where the Student finds upon arrival that the Accommodation materially differs from the confirmed Listing, the Student has 24 hours from physical arrival to report the discrepancy to Flatmaters in writing with photographic or video evidence. A "material discrepancy" is one that cumulatively: (a) substantially affects the habitability, safety, or use of the Accommodation; (b) is not reasonably remediable; and (c) would have been reasonably determinative for the Student's Booking decision had it been known at the time of Booking. Minor differences in decor, furniture model, personal taste preferences, or any subjective aspect do not qualify.

Flatmaters assesses the report, requests documentation from the Owner, and acts reasonably and in good faith. Where a Material Discrepancy is confirmed, the Student may exit the Accommodation within 48 hours of arrival without financial penalty. Flatmaters returns to the Student the full amounts paid (Booking Fee and any rent paid). The Owner's liability for indemnification and the allocation thereof are governed by Section 10.3 of the Terms of Service. Flatmaters recovers such amounts from the Owner through set-off under Section 9.5 and reasonable recovery efforts under Section 24.4.

11. Security Deposit Custody

11.1 Flatmaters as Sole Custodian

The Security Deposit is held in full (100%) by Flatmaters in segregated custody as sole neutral custodian throughout the Semester Period. The Owner acknowledges that the Security Deposit is not transferred to the Owner during the Semester Period and that the Owner has no direct access to or control over those funds.

11.2 Owner's Right to Claim Against the Deposit

At the end of the Semester Period, the Owner may claim against the Security Deposit for validated damages, unpaid amounts, and other amounts validly due by the Student under the Rental Agreement, in accordance with the Damage Assessment Process set out in Section 13.

11.3 Prohibition on Unauthorised Charges

The Owner may not request from the Student any additional deposit, advance, prepayment, or guarantee not expressly disclosed in the Listing at the time of Booking. Any such request is unenforceable against the Student and constitutes a material breach of this agreement.

Where a Student reports an unauthorised charge with supporting evidence, Flatmaters notifies the Owner and allows 72 hours to respond with evidence to the contrary, including any justification based on terms actually established in the confirmed Listing. If the Owner fails to respond within 72 hours or the response does not adequately refute the evidence, Flatmaters may instruct the Owner to return the amount to the Student immediately, withhold the equivalent from the next payment due to the Owner and transfer it to the Student, and suspend or remove the Listing under Section 20.2. In clearly evidenced or urgent cases, Flatmaters may proceed without prior notification, providing contemporaneous notice to the Owner. The Owner expressly authorises this mechanism, without prejudice to the right to contest the determination through Section 25.

11.4 Adaptation to Local Law

Where mandatory provisions of the law of the jurisdiction where the Accommodation is located impose specific requirements on the constitution, custody, or return of residential rental security deposits, Flatmaters and the Owner shall co-operate in good faith to ensure compliance with such mandatory requirements, without prejudice to the operational mechanisms of this agreement where they are consistent with such requirements.

12. Inventory

12.1 Inventory — Owner's Recommendation

The Owner is not obliged to prepare an Inventory of the Accommodation. However, preparing, maintaining and sharing an Inventory with the Student at handover is the Owner's principal evidentiary route to support damage claims against the Security Deposit at the end of the stay. Where it exists, the Inventory should document the condition, furnishings, equipment, and any pre-existing wear or defect of the Accommodation. The Owner is encouraged to support the Inventory with dated photographs or video.

If the Owner does not prepare an Inventory, or prepares one but does not share it with the Student at handover, the Owner may not rely on it in subsequent claims and will see their evidentiary position substantially weakened in claiming damages against the Security Deposit at the end of the stay, without prejudice to the possibility of evidencing the Accommodation's condition by independent and objectively verifiable means under Section 13.

12.2 Burden of Proof

In any dispute about damage or condition of the Accommodation, the burden of proof rests on the Owner to demonstrate, with documented evidence, that the damage or change of condition occurred during the Student's occupation and is attributable to the Student. Items not documented at handover may not be claimed at the end of the Semester Period.

12.3 Documentation Recommendation

The Owner is strongly recommended to retain dated photographic and video documentation of the Accommodation immediately before each handover and immediately after each check-out. This documentation is the primary basis for any subsequent damage claim and is essential to the Damage Assessment Process under Section 13.

13. Damage Assessment Process

13.1 Process Overview

The Damage Assessment Process at the end of the Semester Period follows the six-step procedure set out in Section 11.2 of the Terms of Service. In summary, and as applicable to the Owner:

• Step 1 (5 calendar days from end of Semester Period): the Owner submits to Flatmaters an initial report of any amounts due or damage observed, with supporting documentation to the extent then available.
• Step 2 (30 calendar days from end of Semester Period): the Owner provides any remaining supporting documentation, including third-party invoices or estimates.
• Step 3 (30 business days from end of Semester Period): Flatmaters compiles the claim and presents it to the Student for response.
• Step 4 (5 calendar days from receipt by the Student): the Student responds (acceptance, partial acceptance, or contest).
• Step 5 (10 business days): where contested, Flatmaters arbitrates on the basis of documented evidence, acting reasonably and in good faith.
• Step 6: Flatmaters distributes the Security Deposit accordingly within 7 business days of the final determination — the validated portion to the Owner, the remainder to the Student.

The Owner acknowledges Flatmaters' arbitration function and undertakes not to claim, retain, or seek to collect any amount from the Security Deposit outside this process.

13.2 Student Non-Response

If the Student does not respond within the timeframe set out in Step 4, Flatmaters may proceed with the distribution on the basis of the documented evidence provided by the Owner, acting reasonably and in good faith. The Student retains the right to challenge the distribution through the dispute resolution procedures of Section 17 of the Terms of Service.

13.3 Direct Settlement

The Owner and the Student may, at any time during the Damage Assessment Process, reach a direct agreement on the allocation of the Security Deposit. Such direct settlement must be documented in writing and notified to Flatmaters, who will then execute the agreed allocation. Direct settlements outside Flatmaters' custody (i.e., collection of amounts directly by the Owner from the Student) are subject to the anti-bypass provisions of Section 19.

14. Maintenance, Utilities and Common Expenses

14.1 Maintenance Obligations

The Owner is responsible for maintaining the Accommodation in habitable and operational condition throughout the Semester Period. This includes, in particular:

• structural and systemic maintenance (plumbing, electrical, water supply, ventilation);
• repair of essential appliances and equipment included in the Listing;
• maintenance of habitability standards (absence of pest infestations, mould, water damage, or other conditions affecting habitability and that are not a consequence of misuse or neglect by the Student or their guests);
• compliance with safety regulations (functional smoke detectors, gas safety where applicable, electrical safety).

Ordinary maintenance attributable to the Student's use (light bulbs, batteries, regular cleaning, minor adjustments) and damage attributable to the Student's misuse are not the Owner's responsibility and are governed by the Damage Assessment Process where claimed.

14.2 Student-Initiated Urgent Repairs

Where an urgent repair is necessary to preserve habitability or safety, is not the consequence of acts or omissions of the Student or their guests, and the Owner fails to respond or to act within a reasonable timeframe after notification by the Student, the Student may initiate the urgent repair procedure set out in Section 12.2 of the Terms of Service. Where the procedure is followed, the validated cost of the urgent repair is recoverable from the Owner through set-off under Section 9.5.

14.3 Utilities

All utility conditions applicable to each Booking must be fully defined in the Listing at the time of publication and accepted at Booking; they may not be modified afterwards. Three configurations are permitted:

• Fully included: all utilities are covered by the Base Price without additional charge to the Student.
• Included up to a monthly cap: the Listing specifies a monthly cap per Student in the Listing Currency, with the calculation method clearly stated. Excess consumption above the cap is recoverable from the Student in the following month's settlement, supported by the original utility provider invoice.
• Paid directly by the Student: the Student is responsible for paying utilities directly to the relevant provider as identified in the Listing.

The Owner must maintain all utility services active and paid throughout the rental period in the case of "fully included" or "capped" configurations, and must provide proof of payment upon reasonable request. No utility charge may be introduced or modified after a Booking is confirmed.

In shared Accommodations where individual consumption cannot be separately metered, any utility amount payable by Students under this Section — whether excess consumption above a monthly cap or utility charges otherwise allocated by the Owner as expressly provided in the confirmed Listing — is divided equally among all Students who resided in the property during the relevant month, supported by the original utility provider invoice. This reflects the practical impossibility of determining each Student's individual consumption and applies regardless of actual personal use.

14.4 Common Expenses

Where the Accommodation is located in a building or complex subject to a co-ownership or community management regime, Common Expenses (including, among others, maintenance of common areas, concierge, administration, lifts, gardening, or community fees) are governed by the following rules:

• where the Accommodation is rented by rooms or units within a shared property, Common Expenses must be fully included in the rental price and may not be passed on to the Student under any circumstances;
• only where the Accommodation is rented as an entire property to a single Student or group of Students may the Owner exclude Common Expenses from the rental price. In such case, the Listing must indicate, prior to the Booking, an approximate reference amount of the monthly Common Expenses for transparency.

The effective pass-through of Common Expenses to the Student requires independent third-party documentary evidence (invoice or official statement from the building administration) and is governed by the same rules applicable to utilities under Section 14.3. No Common Expenses charge may be introduced or modified after a Booking is confirmed.

14.5 Joint and Several Liability (Whole-Property Bookings)

Where an entire property is rented to a group of Students under a single Booking, the Owner acknowledges that all Students forming the group assume joint and several liability for all obligations arising from the Rental Agreement, including rent, utilities, Common Expenses, and damages. The Owner may pursue any one or more of the Students for the full amount of any obligation. Internal allocation among the Students is a matter between them.

14.6 Property Visits

The Owner may access the Accommodation during the Semester Period only with a minimum of 7 calendar days' prior written notice to the Student and at a mutually agreed time. Access for repairs does not require the 7-day prior notice but requires the prior knowledge and agreement of the Student. Emergency access due to immediate safety or security risk is permitted without prior notice, provided the Student is notified as soon as reasonably possible. Visits for prospective buyers require the minimum 7-day advance notice per visit and the Student's agreement. Unauthorised visits are a breach of the Student's right to quiet enjoyment of the Accommodation and may give rise to remedies under Section 17.4. The applicable standard is that of Section 12.5 of the Terms of Service, which prevails.

15. Owner Cancellation and Penalties

15.1 Commitment to Confirmed Bookings

By accepting a Booking Request, the Owner enters into a firm commitment to deliver the Accommodation in accordance with the confirmed Listing. Cancellation by the Owner of a confirmed Booking is regulated by this Section and by Section 8 of the Terms of Service, which prevails as the comprehensive source on this matter.

15.2 Category A — Owner Force Majeure (no financial penalty)

Owner Force Majeure releases the Owner from financial penalties where strict cumulative conditions are met (event entirely beyond the Owner's reasonable control, unforeseeable, supervening, objectively and permanently preventing delivery, properly notified). The conditions are set out exhaustively in Section 8.2 of the Terms of Service. The Student is entitled to a full refund of all amounts paid, processed by Flatmaters from the funds held in custody. Supporting documentation must be provided within 5 business days of notification.

15.3 Category B — Good Faith Unforeseen Events

Where an event arises after Booking confirmation that is genuinely unforeseen, not attributable to the Owner's negligence, and objectively prevents the habitability or safe use of the Accommodation — without meeting the strict Force Majeure threshold — both parties have 5-calendar-day decision windows to continue or cancel without penalty; if both continue, the Owner has 20 calendar days (extendable once for the same period) to resolve the issue. Inaction by the Owner, or failure to resolve after the extended period, triggers Category C penalties. The full regime is set forth in Section 8.3 of the Terms of Service, which prevails.

15.4 Category C — Standard Cases (graduated penalties)

All cancellations not qualifying under Category A or Category B are subject to the following graduated penalties, calculated on the monthly Base Price per unit reserved. Penalties constitute a reasonable pre-estimate of damages from Owner cancellation of a confirmed fixed-term Booking, taking into account the impact on the Student and Flatmaters' operational costs.

• 90+ calendar days before start: no additional financial penalty; the Owner refunds all amounts received, to the maximum extent permitted by applicable law.
• 30-89 calendar days before start: refund of all amounts received + 1 month of Base Price.
• Fewer than 30 calendar days before start: refund of all amounts received + 2 months of Base Price.
• On the arrival date or during the Semester Period: refund of all amounts received + 3 months of Base Price, with the further allocation set out in Section 8.4 of the Terms of Service.

By accepting this agreement, the Owner expressly authorises Flatmaters to apply set-off under Section 9.5 for the corresponding amounts. Where amounts held in custody are insufficient, Flatmaters pursues reasonable recovery under Section 24.4; any shortfall remains the Student's direct claim against the Owner. This does not prejudice the Owner's right to contest the application of penalties through the dispute resolution procedures in Section 25.

15.5 What Does Not Exempt — Illustrative Examples

For the avoidance of doubt, the following do not constitute Force Majeure or qualifying Category B events, and do not exempt the Owner from Category C penalties:

• receipt of a more attractive booking offer through any channel;
• change of the Owner's personal plans, family needs, or use intentions;
• decision to sell, refurbish, or otherwise dispose of the Accommodation;
• tax, fiscal, or administrative considerations affecting the Owner;
• foreseeable maintenance issues that could have been resolved prior to or during the Booking;
• misjudgement of the Listing terms (price, availability dates, included services);
• insolvency, liquidation, or dissolution of the Owner (whether voluntary or judicial), without prejudice to the following paragraph.

Death of the Owner as natural person and insolvency, liquidation or dissolution of the Owner as legal entity. Upon death of an Owner who is a natural person, this agreement and Bookings in force shall subsist against the heirs or legal successors, who shall assume the Owner's obligations for the remaining period, unless performance becomes objectively impossible. In the case of insolvency, liquidation or dissolution of an Owner that is a legal entity that objectively prevents continuity of the rental activity, the exceptional application of the Owner Force Majeure regime may likewise be requested. In both cases, objective impossibility shall be assessed by Flatmaters with reasonableness and, if confirmed, shall give rise to the application of the Owner Force Majeure regime in accordance with Section 8.2 of the Terms of Service.

15.6 Sale of Property During a Semester Period

The Owner may not use the sale or transfer of the Accommodation as grounds for cancellation of a confirmed Booking or early termination of a Rental Agreement in force. The Rental Agreement transfers with the Accommodation to the new owner in accordance with applicable law. The Owner must inform prospective buyers of any Rental Agreements in force at the time of sale. Failure to disclose existing Rental Agreements to a buyer constitutes a material breach of this agreement and may trigger Category C penalties under Section 15.4 if the buyer disputes the continuation of the Rental Agreement.

16. Student Cancellation and Early Departure (Owner's Reference)

This Section is provided for the Owner's reference. The Student cancellation and early departure regime is comprehensively set out in Section 9 of the Terms of Service, which prevails as the source document. In case of any divergence between this summary and the Terms of Service, the Terms of Service prevails.

In summary, and as applicable to the Owner:

• Student no-show: where the Student fails to arrive within 7 calendar days of the declared arrival date without communication, the Booking is treated as cancelled. The Booking Fee is applied as compensation in accordance with Section 9.2 of the Terms of Service.
• Early departure with 30 calendar days' notice: the Student is liable for rent during the notice period; from the Security Deposit, validated damages are deducted and, if the Accommodation remains unrented for at least 30 calendar days, an additional amount up to one month of Base Price is deducted as minimum indemnification; days re-rented to a replacement are credited back proportionally.
• Early departure without notice: the Student forfeits the Security Deposit (without prejudice to the standard damage assessment) and is liable for the rent of the remaining days of the current Monthly Rental Period plus the rent of 30 calendar days from the effective departure, as liquidated damages, to the maximum extent permitted by applicable law. Obtaining a replacement Student does not affect this distribution.
• Student Force Majeure: where the Student qualifies under Section 9.3 of the Terms of Service, the Student is released from indemnification obligations to the Owner; the Security Deposit is processed under the standard damage assessment.

The Owner acknowledges that Flatmaters' financial obligation is limited to amounts held in custody and recovered from the Student. Where the Student fails to pay amounts due to the Owner beyond what the Security Deposit covers, Flatmaters pursues reasonable recovery under Section 24.4; any unrecovered amount remains the Owner's direct claim against the Student. Flatmaters will provide documentation to support such claims upon request.

The Student cancellation and early departure regime is without prejudice to the anti-bypass regime set out in Section 19 of this agreement and in Section 3.6 of the Terms of Service, which continues to apply regardless of the cause or moment of the Booking's end, including cases of early departure with or without notice, no-show, confirmed Force Majeure, and termination on any ground.

17. Termination of the Rental Agreement

17.1 Immediate Termination by the Owner

The Owner may terminate the Rental Agreement with immediate effect, subject to notification to and validation by Flatmaters within 3 business days, where the Student engages in, collaborates in, or knowingly permits any of the following:

• violent acts or credible threats of violence against any person in or around the Accommodation;
• intentional and material damage to the Accommodation or its contents;
• use of the Accommodation for illegal activities exposing the Owner to legal liability;
• materially false identity information (name, passport, nationality, visa status, or age) discovered during the rental period.

Flatmaters validates the termination grounds within 3 business days of the Owner's documented notification, acting reasonably and in good faith. Once the termination is validated, the amounts owed by the Student to the Owner are: (i) the rent corresponding to the period actually occupied by the Student; (ii) the full forfeiture of the Security Deposit in favour of the Owner as advance indemnification; and (iii) compensation equivalent to one month of the Final Price, qualified as a liquidated penalty clause and reasonable pre-estimate of damages resulting from the serious breach, in accordance with Section 13.1 of the Terms of Service. Pursuant to the general Platform regime, Flatmaters' financial obligation is limited to: (a) transferring to the Owner the Security Deposit held in custody after validation, as advance indemnification by the Student; and (b) carrying out reasonable recovery efforts against the Student in respect of the other amounts owed under Section 24.4. Any amounts not recovered in this way constitute a direct claim by the Owner against the Student, under applicable law.

17.2 Termination by the Owner with 14 Calendar Days' Notice

The Owner may terminate the Rental Agreement with 14 calendar days' written notice for recurrent material breach of the Property Rules or the Rental Agreement, provided that: (a) the Owner has previously notified the Student of the specific breach in writing; (b) the Student had a reasonable opportunity to cease; and (c) the Student persisted despite notification.

Upon termination, Flatmaters validates the termination grounds within 3 business days of the Owner's documented notification. The Student is liable for the rent of the 14 calendar days' notice period and must vacate within that period. Compensation equivalent to one month of the Final Price applies as a reasonable pre-estimate of damages, in accordance with Section 13.2 of the Terms of Service.

17.3 Termination for False Student Information

Where materially false information provided by the Student is discovered during the rental period, it is for the Owner to decide, depending on the seriousness and nature of the case, the applicable consequences:

• Identity falsehood (name, passport, nationality, visa status, or age): where the falsehood is flagrant and, had it been known at the time of the Booking Request, would have been material to its non-acceptance, the Owner may elect immediate termination under Section 17.1. In less serious cases, the Owner may elect termination with 14 calendar days' notice under Section 17.2.
• Non-identity false information (university, programme, or similar): the Owner may elect within 30 calendar days from the discovery whether to continue or terminate. If termination is elected, the Student has 30 calendar days to vacate, must pay rent for that period, and the Security Deposit is processed under the standard damage assessment. If the Owner does not communicate any decision within 30 calendar days from discovery, they shall be deemed to have elected to continue and the right of termination shall lapse with respect to that specific falsity.

17.4 Termination by the Student for Owner Breach

The Owner acknowledges that, under Section 13.4 of the Terms of Service, the Student may terminate the Rental Agreement for material breach by the Owner — including failure to maintain habitability, failure to perform urgent repairs within the required timeframe under Section 14.2, or material breach affecting the Student's safety or quiet enjoyment — with 14 calendar days' written notice and provided the Student has previously notified the Owner in writing with a reasonable time for remedy that the Owner has failed to meet.

Where Student termination for Owner breach is validated by Flatmaters, the Owner is liable for refund of rent paid for any period of non-occupation directly attributable to the Owner's breach, return of the Security Deposit net of validly attributable damages, and the indemnification structure set out in Section 13.4 of the Terms of Service (allocated between Student indemnification and Flatmaters platform compensation). Flatmaters recovers these amounts from the Owner through set-off under Section 9.5 and reasonable recovery efforts under Section 24.4.

17.5 Student Force Majeure During the Rental Period

Where a Student qualifying Force Majeure event arises during the rental period and prevents the Student's continued occupation, the consequences are governed by Section 9.3 of the Terms of Service. The Owner acknowledges that, in such cases, the Student is released from early departure indemnification obligations; the Security Deposit is processed under the standard damage assessment, with only validated damages deducted.

17.6 Termination by Mutual Agreement

The Owner and the Student may at any time agree in writing, through the Platform, to terminate the Rental Agreement on terms mutually accepted. Such agreed termination must be notified to Flatmaters, who will then execute any agreed allocation of amounts held in custody. In the absence of an express agreed allocation, the Security Deposit is processed under the standard damage assessment.

17.7 Lawful Eviction

Notwithstanding any contractual termination, where the Student does not vacate voluntarily within the applicable timeframe, the Owner must follow the legal procedures applicable in the jurisdiction where the Accommodation is located. Flatmaters does not perform, sponsor, or coordinate physical eviction procedures, which remain the Owner's exclusive responsibility under local law.

17.8 General Provisions Applicable to All Terminations

The following apply to all terminations under this Section:

• Flatmaters' recovery limitation: Flatmaters pursues reasonable recovery of any additional amounts owed by the Student under Section 24.4 but assumes no financial liability for amounts it has not recovered. The Owner retains the independent right to pursue any unrecovered balance directly against the Student through applicable legal means;
• Documentation support: Flatmaters will provide documentation to support direct claims by the Owner against the Student upon request;
• Inventory and damage: regardless of the grounds for termination, the Inventory and Damage Assessment Process under Sections 12 and 13 apply to the assessment and allocation of any damage claim against the Security Deposit;
• Anti-Bypass: termination of the Rental Agreement does not release the Owner from the anti-bypass obligations under Section 19 with respect to the Student concerned;
• Physical eviction: Flatmaters does not participate in physical eviction procedures. Physical eviction of a Student who refuses to vacate must follow the legal procedure applicable in the jurisdiction where the Accommodation is located. Flatmaters will provide, upon request, documentation of the contractual termination for use in any subsequent judicial proceedings.

18. Owner Obligations

18.1 General Obligations

Throughout the duration of this agreement and of each confirmed Booking, the Owner undertakes to:

• act in good faith and with honesty in all dealings with Flatmaters and Students;
• comply with this agreement, the Rental Agreement, the Terms of Service, and applicable law;
• maintain accurate and up-to-date information on the Owner account and in each Listing;
• respond actively to communications from Flatmaters and to reasonable communications from Students;
• preserve and document the condition of the Accommodation in accordance with Section 12;
• respect the Student's right to quiet enjoyment of the Accommodation, including the limits on Property Visits set out in Section 14.6;
• refrain from any conduct constituting discrimination on prohibited grounds (Section 20.1).

18.2 Insurance Obligation and Recommendation

The Owner undertakes to maintain, throughout the duration of any active Listing and any confirmed Booking, the minimum insurance coverage required by applicable law in the jurisdiction where the Accommodation is located, including any mandatory building or landlord civil liability insurance. Beyond this minimum, Flatmaters strongly recommends that the Owner additionally maintain comprehensive civil liability insurance and landlord insurance covering rental activity, contents, and ordinary risks, as well as any further coverage advisable in light of the specific characteristics of the Accommodation. Flatmaters does not provide, offer, or arrange insurance products and does not act as insurer, broker, or surety in any capacity.

Where the Owner fails to maintain the required minimum insurance coverage, the Owner remains personally liable to the Student and to third parties for any damage that would have been covered by such insurance, without prejudice to civil liability under applicable law.

19. Anti-Bypass and Commission Protection

19.1 Anti-Bypass Obligation

The Owner undertakes that any rental relationship with a Student first contacted, introduced, or matched through the Platform must be conducted exclusively through the Platform. This obligation extends to the original Booking and to any subsequent renewal, extension, or new Booking with the same Student (or with persons connected to the Student) for 18 months from the later of: (a) the end of the last Booking through the Platform between the Owner and that Student — whether it ended by cancellation from either side, completion of the rental, or anything in between; or (b) the express or automatic rejection (including failure of the Owner to respond within the 24-hour acceptance window) of a Booking Request between the same parties, where no subsequent confirmed Booking occurred. This obligation covers any future rental between the same parties, whether or not a Booking was ever confirmed and regardless of how any prior interaction ended.

Conducting a rental relationship with such a Student outside the Platform during this period constitutes a material breach of this agreement and entitles Flatmaters to recover, as liquidated damages, the equivalent of the commission that would have been due to Flatmaters had the rental been conducted through the Platform (with reference to the price of comparable Listings or to the previous Booking), plus reasonable enforcement costs. This is without prejudice to any additional remedies available under applicable law and to the full regime set out in Section 3.6 of the Terms of Service, incorporated herein by reference, including the collection mechanisms (deduction from the Booking Fee or the Security Deposit held in custody, set-off against amounts pending payment to the Owner, compensation, or direct collection order), the other consequences provided therein, and the prevalence of the Terms of Service over this agreement for the matters governed there.

19.2 Renewal of Bookings

Renewals or extensions of a Booking with the same Student must be conducted through the Platform. Flatmaters will facilitate the renewal process where requested by either party. The Owner may not bypass the Platform for renewal under the pretext of "direct relationship", "personal arrangement", or similar.

20. Platform Rights and Conduct Standards

20.1 Owner Conduct — Prohibition on Discriminatory Rejection

The Owner may not reject Booking Requests, withhold acceptance, or otherwise discriminate against Students on grounds of nationality, ethnic origin, race, religion, gender, gender identity, sexual orientation, disability, age (within the eligible Student range), or any other ground prohibited by applicable law. The Owner may set objective, non-discriminatory criteria in the Listing (for example, gender-segregated student accommodation where lawful, or restrictions related to the structural features of the Accommodation), provided these are disclosed in the Listing and applied consistently.

20.2 Flatmaters' Right to Suspend or Remove Listings

Flatmaters reserves the right, at its sole discretion and acting reasonably, to suspend or remove a Listing where:

• the Listing or the Owner's conduct breaches this agreement, the Terms of Service, or applicable law;
• the Listing contains inaccurate, misleading, or unlawful content;
• repeated complaints or evidence indicate that the Accommodation does not meet declared conditions;
• the Owner fails to comply with the engagement obligations under Section 8;
• required documentation under Section 3.2 is not provided within a reasonable timeframe.

Suspension or removal does not affect confirmed Bookings already in force, which remain governed by the Rental Agreement and this agreement, unless the same circumstances also justify termination under Section 22.

20.3 Flatmaters' Right to Inspect and Verify

Flatmaters reserves the right, at any time and with reasonable advance notice, to request information, documentation, or evidence (including photographs or third-party verification) regarding the Accommodation, the Listing terms, or the Owner's compliance with this agreement. Reasonable failure to provide such information may result in suspension or removal of Listings under Section 20.2.

20.4 Reviews System

Upon completion of each Booking, the Student may submit a written review of the Accommodation and the Owner through the Platform. The Owner has an equivalent right to submit a review of the Student as a tenant. Reviews must be truthful, respectful, and based on direct experience.

The Owner is contractually prohibited from retaliating against Students for submitting honest reviews, including (without limitation) by raising unfounded damage claims, withholding the Security Deposit beyond the validated portion, or making negative communications to third parties about the Student. Such retaliation may result in suspension or removal of Listings under Section 20.2 and termination of this agreement under Section 22.3.

Reviews containing false or misleading statements, defamatory or abusive content, personal information about identifiable individuals other than the parties to the rental, commercial content unrelated to the rental experience, or content that violates applicable law may be removed by Flatmaters. Flatmaters does not edit review content.

21. Data Protection

21.1 Owner as Independent Data Controller

To the extent the Owner processes personal data of Students (such as identification details, contact information, or special category data) in connection with the rental relationship, the Owner acts as an independent data controller and is solely responsible for compliance with applicable data protection law, including (where applicable) the EU General Data Protection Regulation (Regulation (EU) 2016/679, "GDPR") and equivalent local regimes.

21.2 Purpose Limitation

The Owner may use personal data of Students received through the Platform exclusively for the purposes of performing the Rental Agreement, complying with legal obligations, and exercising legitimate rights arising therefrom. The Owner may not use such data for marketing, profiling, transfer to third parties, or any other purpose not connected to the rental relationship, save with the Student's express consent or as required by law.

21.3 Owner's Own Data

Flatmaters processes the Owner's personal data in accordance with the Flatmaters Privacy Policy, which the Owner acknowledges and accepts upon registration.

22. Duration and Termination of this Agreement

22.1 Duration

This agreement enters into force upon the Owner's acceptance and remains in force for as long as the Owner maintains an active account on the Platform.

22.2 Termination by the Owner

The Owner may terminate this agreement at any time, with 30 calendar days' written notice to Flatmaters, provided that:

• no Booking is confirmed and active during the notice period; or
• confirmed Bookings active during the notice period continue to be honoured by the Owner in accordance with the corresponding Rental Agreement; termination of this agreement does not extinguish obligations arising from confirmed Bookings;
• all amounts due to Flatmaters or to Students have been settled.

Termination by the Owner does not retroactively affect commissions, fees, or obligations already earned, accrued, or arising from prior Bookings.

22.3 Termination by Flatmaters

Flatmaters may terminate this agreement with immediate effect where the Owner materially breaches this agreement, the Terms of Service, or applicable law, including (without limitation):

• repeated or serious false declarations regarding the Accommodation;
• repeated or serious anti-bypass breaches under Section 19;
• fraud, money laundering, or other unlawful conduct;
• repeated cancellations of confirmed Bookings without legitimate grounds;
• conduct posing a risk to Students or to the integrity of the Platform.

Termination by Flatmaters does not release the Owner from financial obligations accrued prior to termination, including penalties under Section 15 and indemnification under Section 17.

22.4 Survival

The following provisions survive termination of this agreement to the extent necessary to give effect to their purpose: Section 15 (cancellation penalties accrued prior to termination), Section 17 (indemnification accrued prior to termination), Section 19 (anti-bypass), Section 21 (data protection), Section 23 (confidentiality), Section 24 (liability and indemnification), and Section 25 (dispute resolution).

22.5 Cessation of Platform Operations

If Flatmaters discontinues operations in a specific market where Listings are active, Flatmaters will: (i) provide at least 60 calendar days' written notice to affected Owners; (ii) honour all confirmed Bookings in course through their agreed end date or facilitate an orderly wind-down; (iii) return all funds held in custody to the party contractually entitled; and (iv) assist in transitioning active rental relationships where operationally feasible.

23. Confidentiality

The Owner undertakes to maintain confidential any non-public information about Flatmaters' business, technology, pricing structures, internal processes, or Students received in connection with this agreement, and not to disclose such information to third parties save where required by law or with Flatmaters' express written consent. This obligation survives termination of this agreement.

24. Flatmaters' Liability and Owner Indemnification

24.1 Limitation of Liability

Flatmaters' total liability to the Owner in connection with any specific Booking shall not exceed the total commissions actually received by Flatmaters in relation to that specific Booking up to and including the month in which the incident giving rise to the claim occurred, and in no event shall exceed EUR 500 in total. This limitation applies to claims arising from Flatmaters' own acts or omissions in the ordinary performance of its obligations under this agreement. Flatmaters is not liable for indirect, consequential, or punitive damages, including loss of profit, loss of opportunity, or loss of reputation, save in cases of intent or gross negligence.

This limitation applies to the maximum extent permitted by applicable law and does not exclude liability for personal injury or death caused by Flatmaters' negligence, nor any other liability that cannot be excluded under mandatory applicable law.

24.2 Events Beyond Flatmaters' Control

Flatmaters is not liable for: Student conduct or breach of the Rental Agreement; physical events or conditions of the Accommodation; acts of third parties; Force Majeure events affecting the Platform; interruptions of the Platform due to technical maintenance, upgrades, or external causes; tax or regulatory consequences for the Owner arising from the Owner's rental activity.

24.3 Owner Indemnification of Flatmaters

The Owner shall indemnify and hold Flatmaters harmless from any third-party claim, regulatory action, or loss arising from: (a) breach of this agreement, the Rental Agreement, or applicable law by the Owner; (b) inaccurate, incomplete, or unlawful Listing content; (c) the physical condition of the Accommodation; (d) failure to comply with applicable tax, registration, or licensing obligations; (e) any other matter for which the Owner is responsible under this agreement.

24.4 Reasonable Recovery Efforts — Definition

Reasonable recovery efforts include: (i) formal written demand to the defaulting party; (ii) registration in solvency files or equivalent mechanisms, where legally permitted and in accordance with applicable data protection law; (iii) small claims courts or equivalent simplified procedures where the amount and jurisdiction make it proportionate; and (iv) handing over documentation to the non-defaulting party to support their direct actions. Flatmaters is not required to incur costs disproportionate to the disputed amount nor to litigate in jurisdictions where it has no operational presence.

24.5 Penalties as Minimum Compensation

The penalties and indemnification amounts set out in this agreement, the Terms of Service, and the Booking Conditions constitute a reasonable pre-estimate of the minimum damage suffered by the affected party and by Flatmaters. They do not preclude the recovery of any additional damage actually suffered, supported by documented evidence, in accordance with applicable law.

25. Dispute Resolution

25.1 Good Faith Resolution

The Owner and Flatmaters undertake to seek, in good faith, a direct resolution of any dispute arising from this agreement through written exchange and, where appropriate, mediation, prior to initiating formal proceedings.

25.2 Arbitration

Where direct resolution is not reached within a reasonable period (and in any case within 60 calendar days of formal written notice of dispute), the dispute shall be finally resolved by arbitration administered by the Arbitration Court of the Estonian Chamber of Commerce and Industry (Eesti Kaubandus-Tööstuskoja Arbitraažikohus), in accordance with its rules in force at the time of filing, seated in Tallinn, Estonia, in the English language and with a sole arbitrator. The award shall be final and binding.

25.3 Alternative Jurisdiction

For disputes involving amounts below EUR 50,000 (or equivalent in local currency), either party may elect to submit the dispute to the ordinary civil courts of the jurisdiction where the Accommodation is located (for property-related disputes) or of the consumer's habitual residence (for consumer disputes, where mandatory rules so allow).

25.4 Consumer Protection and Access to Justice

Where applicable mandatory consumer protection law confers on the Owner (as a natural person acting outside any commercial activity, where applicable) the right to bring proceedings in the courts of the Owner's place of residence, or to invoke the law of such place, those rights are preserved. Nothing in this Section deprives the Owner of access to mandatory consumer protections under applicable law.

25.5 Governing Law

This agreement is governed by the laws of Estonia, without prejudice to mandatory provisions of the law of the jurisdiction where the Accommodation is located (where more protective of either party) or of the law of the Owner's place of habitual residence under Regulation (EU) No 593/2008 ("Rome I"), where the Owner qualifies as a consumer and such mandatory protection applies. Jurisdiction provisions of Regulation (EU) No 1215/2012 ("Brussels I bis") apply where the Owner so qualifies.

26. General Provisions

26.1 Consumer Protection Savings Clause

Nothing in this agreement excludes or limits any right of the Owner under mandatory consumer protection law where the Owner qualifies as a consumer under such law. Where any clause is incompatible with such mandatory protection, the clause is read down to the extent necessary for compliance, without affecting the rest of the agreement.

26.2 Modifications

Flatmaters may modify this agreement from time to time, with reasonable advance notice through the Platform. Modifications take effect on the date specified in the notice and apply prospectively. Continued use of the Platform after the effective date constitutes acceptance. Modifications affecting confirmed Bookings already in force apply only with the Owner's express consent or where required by mandatory applicable law.

26.3 Assignment

The Owner may not assign this agreement or any right or obligation arising from it without Flatmaters' prior written consent. Flatmaters may assign this agreement to a successor entity in connection with a merger, acquisition, or reorganisation, provided the Owner's rights are preserved.

26.4 No Waiver

No failure or delay by Flatmaters in exercising any right under this agreement constitutes a waiver of that right. A waiver granted in a specific case does not extend to other cases.

26.5 Severability

If any provision of this agreement is held invalid or unenforceable by a court of competent jurisdiction, the remaining provisions continue in full force. The invalid provision is replaced, to the extent possible, by a valid provision that reflects the parties' original intent.

26.6 Entire Agreement

This agreement, together with the Terms of Service, the Privacy Policy, and the Rental Agreement for each confirmed Booking, constitutes the entire agreement between Flatmaters and the Owner regarding the subject matter herein, and supersedes any prior understanding or representation.

26.7 Language

This agreement is provided in Spanish as the prevailing language. Translations into other languages may be made available for convenience; in case of conflict, the Spanish version prevails, subject to mandatory consumer protection rules in the Owner's jurisdiction of habitual residence requiring otherwise.

26.8 Transfer of Property and Substitution of Owner

Where the Owner sells or transfers the Accommodation, this agreement does not transfer automatically to the new owner. The new owner must register on the Platform and accept this agreement to continue listing the Accommodation. Rental Agreements in force at the time of transfer continue to bind the original Owner under applicable law, subject to Section 15.6.

26.9 Notices

Notices and communications under this agreement are made through the Platform's messaging system, by email to the registered contact address, or by any other channel expressly designated by Flatmaters. Notices are deemed received on the date sent through the relevant channel, save where mandatory applicable law requires otherwise.

26.10 Contact

For any question, notification, or communication relating to this agreement, the Owner may contact Flatmaters at [email protected] or through the Owner-facing area of the Platform.

26.11 Effective Date

This Listing Agreement enters into force upon the Owner's acceptance during account creation or upon publication of the first Listing on the Platform, whichever occurs first, and applies for the duration set out in Section 22.

27. Acceptance

By accepting this Listing Agreement during account creation or upon publication of the first Listing on the Platform, the Owner confirms that:

• the Owner has read, understood, and accepted this agreement in its entirety, together with the Terms of Service, the Privacy Policy, and the form of Rental Agreement applicable to confirmed Bookings;
• the Owner meets the registration and eligibility requirements of Section 3;
• the Owner has full legal capacity and authority to enter into this agreement;
• the Owner's acceptance is given electronically and has the same legal effect as a handwritten signature.

Acceptance of this agreement governs the Owner's use of the Platform for the duration set out in Section 22.