escrow fees

I just got a response from someone wanting to rent from me. I want to use the Escrow but didn't list it in my posting. Do most people list thee fees, and where would it be listed? Are they usually split? Thanks, Jeanne

jeanney5 wrote:

I want to use the Escrow but didn't list it in my posting. Do most people list thee fees, and where would it be listed? Are they usually split?

Since you did not list the escrow fee, did not specify that escrow must be used, and insist that escrow be used, I personally would consider it prudent on your part to pay it. If one party wants to use escrow, then that party should pay for it.

That being said, escrow is not necessary. Using Pay Pal is usually a good option. Check it out.

Thank you. I discussed it with the renter and we agreed to split the 100$ fee 50/50, as they recommend. I will post my experience but so far so good. In the future, where would I post the escrow fee?

lancec13 wrote:

jeanney5 wrote:

I want to use the Escrow but didn't list it in my posting. Do most people list thee fees, and where would it be listed? Are they usually split?

Since you did not list the escrow fee, did not specify that escrow must be used, and insist that escrow be used, I personally would consider it prudent on your part to pay it. If one party wants to use escrow, then that party should pay for it.

That being said, escrow is not necessary. Using Pay Pal is usually a good option. Check it out.

jeanney5 wrote:

In the future, where would I post the escrow fee?

That depends. Who wants to use the escrow service? If you, as the owner, insist on it, then what I would suggest is that you pay for it. You might include it in your rental price. For example, if the rental price is$850, you might advertise the rental price as $950. The renter might ask why the price is what it is and you would have to tell him that that includes the escrow fee.

Just be aware that another owner of a similar unit and week might undercut that making his price more appealing to the renter because he is not using escrow.

If the renter insists on using escrow, then he can pay the escrow fee.