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Original Message:
Re: Renting a timeshare: How safe is it? (by Mary D.):
jayjay wrote:bonnied41 wrote:I'm new to renting out my timeshare. What is the best way to handle the finances? Should I go through the escrow company or should I do a rental contract?I would definitely require a rental contract. There is a smaple rental contract in the Buying, Selling and Rental forum that states how finances are handled. As far as using an escrow service, that would be up to the renter. It depends on how comfortable you are with the owner via communication and what the contract states.
Quote:Also, there are several current postings that range in price from $1800 to $3200 for the same week. How do you determine what price to ask.There are several factors concerning what an owner is asking for a rental. I would definitely try negotiating the best price for the same unit/week you are interested in.
Quote:If it's a holiday week (Christmas), does the price increase as you get closer to the date, or is it better to rent as soon as possible for a lower price?I would imagine the owner has decided what they are going to ask for their rental before placing the ad on Redweek. I doubt the price would increase closer to a holiday week.
======== As far as pricing the unit you want to rent out is concerned, the unit which has an actual reserved week might reasonably ask for more because the "floating" time people may not be able to secure that week if it is special. Be sure to figure out what your own total costs are for the week you are offering. Think about maintenance fees, Guest Confirmation, point value (if you have a point system resort; NOT RCI Points). What would YOU be willing to pay?
Sometimes when you read the details on an offered week there are differences. Of course, one owner may have overvalued his week and another is far too humble! MD