Completing a Rental Transaction

Has anyone SOLD their timeshare via Redweek? If yes, what was the process, how was the closing handled, did you get close to market price/what you paid for it originally, etc? Thanks.

You can download a rental agreement at www.tstoday.com

barbarac110 wrote:

Hi- I would like to rent my unit and want to know if it is safer to pay the $50 to the Escrow co or send the renter a rent agreement and hope for the best? If so how do I print a rental agreement? Thanks Barb

The first timeshare we bought was from the developer (gold crown, very popular resort). When we were ready to sell it we took a loss as is the case in 99.9 percent of developer bought timeshares. In the timeshare resale marketplace it's common to get a return of only 1/4 +- of what you paid the developer

The other timeshare weeks we bought were resale weeks. When we were ready to sell those we priced the weeks at what we paid resale, which were bargain prices. We sold all of our resale bought weeks with no problems.

When you sell your timeshare week, I would recommend using a closing service such as Redweek's American Title or www.timesharetransfer.com to handle the closing and provide escrow service (holding monies until the transaction is complete).

The buyer normally pays for closing, but it can be a bargaining tool if you really want to sell your timeshare badly enough.

jv22 wrote:

Has anyone SOLD their timeshare via Redweek? If yes, what was the process, how was the closing handled, did you get close to market price/what you paid for it originally, etc? Thanks.

Hi: Does anyone have a copy of a timeshare rental agreement form? I am trying to rent from an owner, but he does not have the form. Also, is there a safer way for me to pay him other than directly depositing money into his bank account? I am booking for a rental in 3 weeks, and is too short a notice to use a 3rd party escrow service. Thanks.

You can download a rental contract from the following sites for a small fee:

www.tstoday.com (also has sales contracts)

http://www.myresortnetwork.com/timeshare-lease/

phill12 wrote:

soonn wrote:

I am new at this, too.

I have several timeshare units which I would like to rent them out. I heard from a friend that Redweek.com is the site I should post my timeshare units.

Q: Why does an interested renter need to be a member in order to contact the owner?

Why would an interested renter pay to be a member, not knowing that he/she will get the timeshare that he/she chooses?

Soon

First answer of why people need to join Redweek to rent your unit is easy, Make money for Redweek! Second answer is many people will not pay this fee and move on to other sites to rent or buy! "WE DID"

There is a post you might read that is all about this fee and it covers three pages and except for a few people this fee is not liked very much. One post on here will give you much information from other people. The post is listed as Membership Required for Potenial Renters and has 58 replies on it!

I watch rentals/sales on here and Tug almost everyday. I have interest in a second unit at our timeshare that I might buy if I see good deal.

One of the problems I see on here is you can check out resorts and never see rented or sold listed. I went over fifteen resort listings last week and found two listed in Hawaii and four in Nevada. Many resort have about 25 listings and show one or none rented.

I watched our resort and it shows one sold and one rented late in 2007. The weeks don't show rented even for New Years but as soon as the starting date ends the unit was removed from the Redweek list. There were 13 listings for this week and the list will be down to three tomorrow. Not because they rented but because Redweek pulls them so anything starting Dec 30,2006 will be removed with nothing happening.

If you check wishlist its funny because there were two different people trying to rent this week at our resort but for some reason they didn't seem to get together with the owners. Seems funny you have people listing to rent,you have people asking for these units on wishlist but they don't get together!" Makes me wonder"

When you list on here most of the people that will see your ad will be members who already own a timeshare and probley trying to rent theirs. Do you see a pattern here . If you get lucky and have a good timeshare with very good pricing for sale or rent some people might pay the fee to join and hopefully take your unit.

I feel one of the best places is My Resorts Network or Craigs listings. Also check your timeshares on here and see how many are already listed. Just because there listed does not mean they are going to rent.

One last point that I see is renter owners of a rental or trying to sell their units, the prices that are listed never drop. You would think common since would set in and a owner would start to drop price after months of no action! Good Luck!

I agree with the theory that potential renters will be very reluctant to pay to join when they can just move on to the next site. I have only been a member since October, but I think that it is probably worth paying more money to post on a site that doesn't make a potential renter join, so thay will be more willing to continue researching the rental information, instead of deciding that it not worth the membership fee to explore the possibility of a rental.

jayjay wrote:

You can download a rental agreement at www.tstoday.com

barbarac110 wrote:

Hi- I would like to rent my unit and want to know if it is safer to pay the $50 to the Escrow co or send the renter a rent agreement and hope for the best? If so how do I print a rental agreement? Thanks Barb

Hi Barb,

We have rented our timeshare several times through RedWeek and have always completed the information online and the Rental Escrow service handles the rest. You must have the renter's email address. Electronic transaction are the best and less time consuming.

Hope this information helps.

When you rent your week, did anyone ask the renters to sign a form, saying that they would take responsibility for any damage to the unit? I am renting my Hawaii week for the first time, and I am just a little bit worried about this liability. Any help would be appreciated!

patsyrose wrote:

I have rented one of my weeks through Red Week for next year. First we agreed on a date and the price was in the add. I emailed a contract to them. then I called the Resort and made the reservation in my name. When I had the reservation I called the renters and we talked and we were all satisfied that everything was on the up and up. They sent me a check, after I cashed it I called and had the Resort send them a confirmation letter in their name.

The same people have contacted me lately to rent again to them in 2008.

Thanks Red Week

Pat

Do most people use rental agreements and where can you obtain such agreements.

You can download a rental agreement (or order by snailmail) at www.tstoday.com for a minimal fee.