Post reply

Re: Rental Escrow (by Phil L.):

sanchia1 wrote:

I am an owner and trying to rent for the first time. I would like to know if anyone has had an issue with getting the timeshare resort to switch the reservation to anothers name? Is this what the Escrow papers help cover? I have read through the other responses, but want to make this as smooth for me as for a potential renter. Does this Escrow cover our butt if the renter goes in and trashes the unit? I just would like a little guidance and advice on what is the best route to go.

I have never dealt with a escrow company but my understanding is they only hold the money for the owner until renting week completed and then issue funds.They are nothing more than holding company to make renters feel safe renting a timeshare and for this they make money from the renter in most cases.

Your resort will change your reservations week or add someone you have rented to and most will send new reservations to the renter as proof. If not then owner has to send it to the renter who should not only call reservations dept to verify but take reservation notice with them to check-in.

I would also advise them to double check reservations couple weeks from checkin in case of some kind of error.

As far as damage you will have the resonsibility to pay what ever renter did not pay. Renter will need to give credit card information at checkin time and this should cover most damage.

Owner should have this information of renter needing credit card at checkin on the contract and fact they wll be charged for damage or missing items they take.

As a owner you need to understand your trying to make some money but also you are taking a chance. You are renting to someone you do not know and sometimes it cost more than you make.

Some owners rent and clear very little and one problem could cost owner money. Renting to many owners just not worth the trouble and hassles that are involved.

PHILL12