Post reply

Re: Rental Escrow (by Mike N.):

lesb15 wrote:

Thanks for your response. I don't like the fact that this third party company will hold my money until the vacation is over. Doesn't seem right. They should at least give you 50% of total rental fee when the reservation Number is confirm for the unit. What is rentor chnges her mind, then I loose the money, right?

I agree in part, but I'd like to see the escrow company get 100% at the time of the agreement. I know the whole idea of escrow is to protect the renter in the event that something went wrong with the rental (unit not as adveritsed, etc), but if the renter backs out, the owner should gets the entire amount not only 50%.

If the renter back outs, 50% probably is not enough to cover the MFs. And the owner could be stuck with a unit since there is less than 60 days until check-in, so you there may be difficulty renting or exchanging.

There could've been other renters willing to pay 100% and now this income is lost.