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Suggestions... (by KC):

kr96 wrote:

What do you suggest when renting? Something that will protect both parties.

1. First, a detailed, specific written rental agreement identifying (and signed by) by both parties involved is critically important. It should clearly identify dates, unit, cost, check-in / check-out times, payment schedule and refund policy (usually none) in the event of cancellation. It should also clearly notify the renter that the resort will still expect presentation of a credit card (in renter's name) for security deposit (no charge to the card if there is no damage caused to the unit).

2. Second, you should independently confirm directly with the resort that the person "renting" to you is indeed the actual owner. You don't want to get caught up in someone improperly renting out a week they obtained by "exchange" and which they don't even "own" in the first place. Both II and RCI have strict prohibitions against such rentals of "exchanges".

3. Once the above details are conclusively resolved, the actual method of payment becomes less important, as both parties are now protected at this point by a legally enforceable contract.

4. Finally, you can choose to pay $150 for an "escrow" service to handle all the money, but many owners don't want to get involved with escrow services, since they don't actually receive their funds until several weeks AFTER the rental is completed. Owners have to pay their maintenance fees IN ADVANCE, so most feel that rentals should be likewise.

Hope this helps.