How can I rent a timeshare?

jayjay wrote:

howardd23 wrote:

What I want to know is how good is RedWeek for advertising?? Or do other folks recommend a different agency for posting timeshare rentals in Hawaii??

Redweek is one of the most popular timeshare rental/sales advertising sites on the internet with thousands of hits a day from people looking for such. If you price your Hawaii rental fairly, you should have no trouble renting it here and you save the fee you would pay an agency.

>>> so what is fairly for Pono Kai in Kapaa?? A february week in unit A -- ocean front??

>>> we assume about $1000 a week, but so far no takers. >>> is there a problem with the Pono Kai property we should know about??

howardd23 wrote:

asks >>> so what is fairly for Pono Kai in Kapaa?? A february week in unit A -- ocean front??

>>> we assume about $1000 a week, but so far no takers. >>> is there a problem with the Pono Kai property we should know about??

==================================================

I do not claim for one moment to know anything at all about your particular property or the rental value of a week there (although that can usually be easily determined by a little Internet searching and/or a call to the resort for comparative figures). You must of course be considerably below resort rates to attract any interest at all. With a private rental having potential risks and complications not associated with direct rentals from the resort, there must obviously be considerable savings offered in order to successfully overcome that obstacle.

What I DO know with certainty, however, is that airfare to Hawaii can be prohibitively and obscenely expensive, and even more so with short advance notice travel. I have seen inexpensive late offerings in Hawaii go unclaimed, simply because people just gag on the airfare costs. The rental rate is only one portion of the overall Hawaii vacation cost (along with airfare and car rental, etc).

darraughb wrote:

dennisa wrote:

Don't waste your time with a third party vacation rental outfit such as Century 21 ... stick with Redweek, and deal directly with the owners ---

What I have found with third party outfits is they want a "one time" up front fee -- and then you will never hear from them again.

I have rented our Grand Mayan weeks on Redweek for the past 5 years. I treat all renters with the upmost care, and do my best to insure they will have a fantastic vacation.

Dennis Atkinson

Can you share with me what type of rental terms you used? Did you require a deposit; request cashiers check...etc.

Dennis,

I have Grand Mayan 1 BR Grand Suites. I am thinking renting it this year. How do I do to rent? Do I need to go through escrow services? What do you think is a fair price for renting 1BR Grand Suites?

Shiro

cynthia281 wrote:

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

Please explain what you mean in above statement? How do I know potential renter are from RCI or II?

shiros2 asks:

cynthia281 wrote:

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

================================================= Please explain what you mean in above statement? How do I know potential renter are from RCI or II?=================================================

RCI and II, as you likely know, are timeshare "exchange" companies. Timeshare owners who are members of RCI or II can use RCI or II to "exchange" a week that they own for a different week (one that they DON'T own). However, a week obtained by such an "exchange" CANNOT then be rented out for profit. RCI and II members can rent out weeks that they actually own, but NOT weeks obtained by "exchange" (at least not for any more money than the exchange fee cost and guest certificate cost, which collectively total around $200).

Generally (except in a few isolated "points" systems), it's easy enough to confirm that the advertiser actually owns the week that they are advertising. Get the advertisers' name and unit number and then simply call the resort directly yourself during their normal business hours to confirm that the advertiser (whose full name and unit number you must have already obtained on your own) actually owns the unit / week being advertised. If not, just walk (or run) away and move on, since the rental of an exchange is NOT allowed and you could simply be turned away completely upon check-in if discovered -- even AFTER paying your rental money (to someone who had no legal right to rent out that week to you in the first place). Be advised in advance that resorts will not RELEASE owner information (for obvious privacy reasons) --- they will only CONFIRM the accuracy of owner information which you ALREADY HAVE in hand and which you present for resort confirmation.

My own summary advice? Rent direcly from an actual owner ONLY AFTER confirming for yourself their actual ownership of the week being advertised. Or, rent directly from the resort (which is always more money, however). "Under the table" deals involving illegally rented "exchanges" are unethical and they are in clear, direct and obvious violation of II and RCI membership rules. It's not worth risking your vacation lodging by being a willing participant in any of these shady under the table "deals" -- renting an "exchange" week not allowed to be rented out in the first place.

CAVEAT EMPTOR (Buyer beware)......renters too!

What about points? I can book for someone a week with my points, and they just pay me for it, Right? I think this is different than renting an exchange. I am not exchanging anythig, I am using my points to book a week at a resort, then rentng that. Any insight, information, or pointer's would be very helpful to me.

THanks :)

todda22 wrote:

What about points? I can book for someone a week with my points, and they just pay me for it, Right? I think this is different than renting an exchange. I am not exchanging anythig, I am using my points to book a week at a resort, then rentng that. Any insight, information, or pointer's would be very helpful to me.

THanks :)

======= Yes, it is different from renting out something received through an exchange company. It would be fine under the rules of the points resort groups where we own (Wyndham & Bluegreen) but if you own in another group, it would be wise to check its rules. MD

shiros2 wrote:

cynthia281 wrote:

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

Please explain what you mean in above statement? How do I know potential renter are from RCI or II?

====== I think there was a misunderstanding here. This discussion involved an owner who wanted to rent out his/her own resort time. Whether the potential guest is a member of RCI etc. is of no importance whatever. MD

adahiscout

shiros2 wrote:

cynthia281 wrote:

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

Please explain what you mean in above statement? How do I know potential renter are from RCI or II?

One way to determine if the rental is an exchange is if an exchange company guest certificate is involved. This should raise a BIG RED FLAG.

jayjay

adahiscout wrote:

shiros2 wrote:

cynthia281 wrote:

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

Please explain what you mean in above statement? How do I know potential renter are from RCI or II?

One way to determine if the rental is an exchange is if an exchange company guest certificate is involved. This should raise a BIG RED FLAG.

=========

No, no! I'm the one who said there was a misunderstanding. As I understand it, Shiro wants to RENT OUT an owned Mayan timeshare, not secure one to use, so RCI/II/etc. have nothing to do with this at all. (Gets confusing, doesn't it.) MD

I am ready to pay for a rental. The owner asked for a check and promise to add my name to the reservation list. This is obviously not comfortable to me. Besides paying for an escrow to handle this? Do you have other tips? How much is an escrow service cost for rental?

fredc76 wrote:

I am ready to pay for a rental. The owner asked for a check and promise to add my name to the reservation list. This is obviously not comfortable to me. Besides paying for an escrow to handle this? Do you have other tips? How much is an escrow service cost for rental?

Fred - first off, I wouldn't pay in full. You should offer a good faith deposit and should have a written contract specifying the details of the deal, such as when you will pay the balance. A good contract should include the dates involved, the parties etc. I rent out my unit and have also been a renter. You also want to specify that the owner must have the maintenance fees paid up. If they don't pay, you may show up and management won't allow you in. He should also add when you can get into the unit as well as check out time.

To protect both parties, you need an enforceable contract. Then if something goes wrong, you can fight to get your money back. A verbal agreement may not be legally binding (usually not in cases of real estate - not sure in this case). At the very least, I would ask that he show you proof that you're on the reservation BEFORE you pay. He has nothing to lose if you don't pay; he can just take your name off. If the reverse happens, you pay and he does NOT put in your name, you could be out of luck. Hope this helps. I've been doing this long time and learned that you must spell it all out.

fredc76 wrote:

I am ready to pay for a rental. The owner asked for a check and promise to add my name to the reservation list. This is obviously not comfortable to me. Besides paying for an escrow to handle this? Do you have other tips? How much is an escrow service cost for rental?

Last question answered first --- there is a fellow (a licensed, bonded realtor) on TUG who handles "escrow only" situations for $100. First American Title charges $150. In either instance, the expectation is likley that if an escrow service is accepted by the owner, the renter will pay the entire "escrow" fee. Generally, that's because for an owner, escrow services are often regarded as a "less than desirable" process, since the owner doesn't receive a dime until after the rental is actually completed. Some owners (understandably) find those terms to be unacceptable and will simply reject outright the use of escrow services. That's their right.

As mentioned already (and it's good advice) you want and need a mutually signed, detailed, written contract. Be certain that cancellation refund terms are specifically included. Personally, I think that it's a bit unreasonable to ask or expect any owner to actually put your name on a reservation until and unless some "good faith" has first been demonstrated at your end. Return of a signed contract and an accompanying 50% deposit would be a sufficient "good faith" gesture in my book, but that's just my own personal opinion and viewpoint.

One of the most important things for you to do is to FIRST verify that the person from whom you are potentially renting IS actually the owner of the unit and week being rented out in the first place. Confirm this fact for yourself directly by phone call with the resort. Don't get caught up in any underhanded, prohibited transactions where someone is trying to rent you a week which they don't even own in the first place, but have instead merely acquired for one time use through an exchange with RCI or II. Such exchanges CANNOT be rented out and, if caught, you (even as innocent renter) risk being turned away completely at check-in and the intrepid "improper landlord" risks termination of exchange company membership. Good luck.

I rent timeshares for a living and accept credit cards. This is the best method of payment to protect yourself against an owner who doesn't deliver since you can dispute it with your credit card company. I agree completely though, that if you're paying by check it's important to negotiate who pays for the rental escrow company and insist on the escrow company. That is the best way to ensure you have the ability to get your money back if you pay by check. Think about it - signing an iron clad contract does you no good if the owner doesn't honor it. How are you going to get the owner to abide by the terms? Sue? You live in a different location than the owner and legal action will cost more than the rent. A basic contract is all you need, coupled with the use of the rental escrow. Or rely on your e-mails and the advertisement and pay by credit card! I rented two nights to a family earlier this year, and because I couldn't provide their other two nights they rented from a vacation timeshare owner. I believe the agreement was they would get the keys from the owner and pay in cash. When they arrived on Oahu the vac condo owner said there was a misunderstanding and said they had to pay a higher rent.

shiros2 wrote:

cynthia281 wrote:

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

Please explain what you mean in above statement? How do I know potential renter are from RCI or II?

====== I take exception to that narrow definition of renting. It's also against the rules to rent DRI (Diamond Resorts), Wyndham, and I believe Marriott. But owners not only do it, they rent multiple units on a regular basis - a direct violation of the T&C. Realistically, people want to rent affordable units and a great number of times the owners can only make this possible by renting direct or indirect reservations. Most of those owners are violating some kind of rule.

Anyway, if you want to avoid renting from people with exchange units here are valid reasons: - Renting an exchange unit usually puts you in the least desirable unit in the complex. If you go to a great resort this won't matter. I've noticed exchange units are more likely to be lesser view, lower level units. If this is the only way to get to the resort or location, who cares! But if you are particular about amenities as I am, I noticed lower level units in a lot of timeshares will hear foot traffic in the unit above ... - Your reservation has no location / view guarantees. I prefer direct reservations since a number of resorts have view and/or location specific reservations, or other specific features.

How to tell the reservation is an exchange: - Know the resort, resort company, and their rules. Ask the "owner" if their ocean view unit is a guaranteed OV. Ask how far in advance they reserved and can they change the date or make a request for something. If you know the rules of the specific resort you'll be able to get an idea based on the "owner's" response if they booked direct or thru exchange. I was asking a Westin Princeville "owner" if he would change the date or move the reservation to Westin Kaanapali. At first he said no he didn't want to, but as I simplified what he'd have to do to make a change he finally admitted he got the reservation thru II.

mnop

shiros2 wrote:

I take exception to that narrow definition of renting. It's also against the rules to rent DRI (Diamond Resorts), Wyndham, and I believe Marriott. But owners not only do it, they rent multiple units on a regular basis - a direct violation of the T&C. Realistically, people want to rent affordable units and a great number of times the owners can only make this possible by renting direct or indirect reservations. Most of those owners are violating some kind of rule.

Anyway, if you want to avoid renting from people with exchange units here are valid reasons: - Renting an exchange unit usually puts you in the least desirable unit in the complex. If you go to a great resort this won't matter. I've noticed exchange units are more likely to be lesser view, lower level units. If this is the only way to get to the resort or location, who cares! But if you are particular about amenities as I am, I noticed lower level units in a lot of timeshares will hear foot traffic in the unit above ... - Your reservation has no location / view guarantees. I prefer direct reservations since a number of resorts have view and/or location specific reservations, or other specific features.

How to tell the reservation is an exchange: - Know the resort, resort company, and their rules. Ask the "owner" if their ocean view unit is a guaranteed OV. Ask how far in advance they reserved and can they change the date or make a request for something. If you know the rules of the specific resort you'll be able to get an idea based on the "owner's" response if they booked direct or thru exchange. I was asking a Westin Princeville "owner" if he would change the date or move the reservation to Westin Kaanapali. At first he said no he didn't want to, but as I simplified what he'd have to do to make a change he finally admitted he got the reservation thru II.

I'm somewhat confused concerning your post above .... one can rent any week they own no matter what resort or name brand.

However, renting an exchange is against RCI and II rules. If someone tells you that you'll need a guest certificate in order to rent from them, then that throws up a big red flag as it's more than likely an exchange.

I need a timeshare that sleeps 8 for April 15-April 19, 2009. Is it possible to get a timeshare for these specific dates?

pennyh57 wrote:

I need a timeshare that sleeps 8 for April 15-April 19, 2009. Is it possible to get a timeshare for these specific dates?

Click on 'timeshare sales and rentals' above and click on the specific area you are looking for.

pennyh57 wrote:

I need a timeshare that sleeps 8 for April 15-April 19, 2009. Is it possible to get a timeshare for these specific dates?

This is an inquiry which would be more appropriately placed as a "RedWish" in the "RedWish" section specifically provided for that purpose. You'll get more far more exposure and reply there as well. A much more specific identification of your geographic area of interest is recommended, since you are presumably not looking to go just anywhere in the entire world on those (apparently a school vacation week) dates.

Also, for what it's worth, most timeshares offered for rent are offered for an entire 7 day week, whereas your particular inquiry is for 5 days. If you use less than a full week, you'll still most likely have to pay for a full 7 day rental. Also, your beginning day is a Sunday. Most timeshare weeks are Saturday to Saturday. A minority are Friday to Friday. The are some facilities which are Sunday to Sunday, but they are frankly relatively rare.

I am new to renting through RedWeek . How much of a deposit should I charge as a pecentage of total rent. Also anyone have a source for a good rental agreement.

Thanks, Ron