renting timeshares

When do you pay the person you are renting from? Can you just pay a deposit when you sign the rental agreement? Is it safe to pay by check when all you have is a rental agreement?

geraldinec22 wrote:

When do you pay the person you are renting from? Can you just pay a deposit when you sign the rental agreement? Is it safe to pay by check when all you have is a rental agreement?

Once you are convinced that the "landlord" is indeed the actual owner of the week being rented out, it is not uncommon for a rental agreement to require a 50% (non-refundable) deposit with the signed rental agreement and the reservation transferred into the renter's name only upon owner receipt of the remaining 50% due. Different rentalm agreements can (and often do) specifiy different terms, however.

Thanks Ken. Good Advice!

i found someone to rent my timeshare to but now I dont know how to go about the exchange of money and names. What is the next step so that both parties are comfortable, secure, and safe in this transaction? Thanks

darlenew65 wrote:

i found someone to rent my timeshare to but now I dont know how to go about the exchange of money and names. What is the next step so that both parties are comfortable, secure, and safe in this transaction? Thanks

The next step should be a rental agreement by you stating the terms of the rental and signed by both parties (you can find a sample rental agreement by seaching forums). How you recieve the rental funds is up to you. Some owners require all the fee upfront with no refunds should there be a cancellation, some require 50% down and the rest 30 days before check-in. There should be a clear statement in the agreement concerning cancellations. It's really up to you how you word the agreement.

Of course, the safest way is using an escrow service holding all monies until the rental has taken place, however this can be costly at $200 and it takes several days before the owner gets the rental fee.

Hi

I want to rent a time share in kauia

Two questions. What is the processs with payment and confirmation?

Has anyone rented from preston green?

Thanks

Go to 'search forums' and enter Preston Green.

Hold the funds in escrow until you verify the rental reservation is in your name and after your stay has started. This is the best way to protect yourself against reservations that really don't exist.

Some people make to much out of trying to rent both owners and renters in my opinion! If you do your home work you should be fine. I came back to Redweek few months ago just to rent a condo in Maui for my daughters honeymoon. I wanted to rent off Tug but as usual the owners start off way to high and then start dropping their price and end up on last minute for almost nothing. This happen on one of the units I was watching where they wanted way to much and last listing they were asking for $500 for the week in May with about five days to go.

My daughter and her husband are in Maui right now having a great time and love their unit. I rejoined Redweek and contacted the owner of the resort and week they wanted and paid fair price for us and owner so everyone happy! I sent her a check for half and after booking she gave me phone number to contact the resort and verify information. I called and the resort owners desk and they sent my daughter and also me the information and everything they might need at checkin including her personel number. I then sent final check and all this with no problems because I and owner had a trust for each other at this point. She even gave me her cell number if I needed to talk to her while out of the house. Owner contacted me few days before the wedding to ask how things were going and said she again called the resort to double check everything.

Because of working with her so well one of these next years I will probably rent her Weston unit and take dd and husband back to Maui. We sold one of our two units in Lake Tahoe last year while up at our resort and not trading other unit so we will rent.

PHIL

I'm looking into renting a condo in Harbourside, Atlantis..how do I go about confirming that the "landlord" actually owns the condo..who do I call?

bethc210 wrote:

I'm looking into renting a condo in Harbourside, Atlantis..how do I go about confirming that the "landlord" actually owns the condo..who do I call?

The landlord doesn't own the entire condo, only a week (or weeks). You could try calling Harborside to insure that the person you're renting from actually owns the week.

However, a rental agreement should be in place signed by both you and the owner stating the terms of the rental (you can find a sample rental agreement by seaching forums). Some owners require all the fee upfront with no refunds should there be a cancellation, some require 50% down and the rest 30 days before check-in. There should be a clear statement in the agreement concerning cancellations.

Of course, the safest way is by using an escrow service holding all monies until the rental has taken place, however this can be costly at $200 and it takes several days before the owner gets the rental fee.

We are first time renters and after reading all of the advice in these forums I called the Aruba Marriott to confirm if the renters are true owners and was told that they can not disclose that information to me. Obviously getting a written rental agreement in place should help, but I do not feel comfortable just sending a check to a total stranger. If we use PayPal, I believe we can report to PayPal if we are scammed and get our money back, does anyone know if this is correct? Thought this may be less costly than using an escrow account.

ken1193 wrote:

geraldinec22 wrote:

When do you pay the person you are renting from? Can you just pay a deposit when you sign the rental agreement? Is it safe to pay by check when all you have is a rental agreement?

Before paying anyone a CENT, you should FIRST confirm for yourself (directly with the resort involved) that the "would-be landlord" actually OWNS the week in the first place. You don't want to get caught up in someone trying to rent out something they obtained from an exchange company, which is a prohibited practice and which could potentially leave leave you with NOTHING to occupy and your money GONE.

Once you are convinced that the "landlord" is indeed the actual owner of the week being rented out, it is not uncommon for a rental agreement to require a 50% (non-refundable) deposit with the signed rental agreement and the reservation transferred into the renter's name only upon owner receipt of the remaining 50% due. Different rentalm agreements can (and often do) specifiy different terms, however.

eliseh21 wrote:

We are first time renters and after reading all of the advice in these forums I called the Aruba Marriott to confirm if the renters are true owners and was told that they can not disclose that information to me. Obviously getting a written rental agreement in place should help, but I do not feel comfortable just sending a check to a total stranger. If we use PayPal, I believe we can report to PayPal if we are scammed and get our money back, does anyone know if this is correct? Thought this may be less costly than using an escrow account.

Many resorts/brands do not disclose personal info such as ownership, however if you use a rental agreement then you should feel more comfortable with the rental. I would never just send a check without some form of agreement either, however if you want to make 100% sure that the owners own the week then escrow is the way to go for peace of mind, especially if there's a lot of money involved. I wouldn't think an Aruba Marriott would be a cheap rental.

If you're thinking of using PayPal then I would research their policies concerning rentals.

I have my timeshare rented for a week in Vegas, and I called RCI and they said that I would need to purchase a guest certificate for 59.00 plus pay the 149.99 exchange rate in order to rent my timeshare to a coworker for a week. So basically I have to pay RCI 200.00 + to rent my timeshare for a week to a coworker. If you post your rental through redweek and you already have a rental, once the timeshare has been reserved, will the resort allow someone other than you occupy that week at the resort.

I hope I am making sense here. I am trying to rent my timeshare for a week without the additional cost of the guest certificate.

Thank You

Depends on how you rent it. I have a timeshare in Las Vegas. I rent it through their in house rental program. I don't belong to RCI and I don't have to go through them. Is you week listed with RCI or do you belong to their points program ? If you own a week with a resort and are not banked with RCI then I can't see why you need to pay them to rent it.

I have two RCI timeshares and I am in the points program. I converted both timeshares from weeks to points. I am just trying to rent my timeshare at least twice a year to cover the cost of my maintenance dues. I have a coworker that wants to rent it but I am not sure the process. Thank You.

That's your problem. You are in RCI points and they have you tied to their contract. You signed an agreement with them that lets them charge you to rent it. You would have been better off with a deeded week at a timeshare.

thank you for your kind remarks sir.

kathyv27 wrote:

I have two RCI timeshares and I am in the points program. I converted both timeshares from weeks to points. I am just trying to rent my timeshare at least twice a year to cover the cost of my maintenance dues. I have a coworker that wants to rent it but I am not sure the process. Thank You.

If I owned points then I would choose a popular week at a popular resort (ie: school holidays, summer at the beach, winter ski season, special event weeks, etc) and book .... then I would advertise that week for rent.

As for your co-worker ... ask what resort and week she wishes to rent then check to see if that week is available with your points. Then 'search forums' for a rental contract, fill it out signed by both you and your co-worker (or renter) and the rest is history.

If i book this popular week at a resort using my points. Is the resort going to allow someone other than myself to stay at the resort using this reservation without me having to purchase a guest certificate through RCI. Thats what I am trying to do is minimize my costs. I will automatically have to pay 159.99 for the transaction fee and I was trying to think of a way to avoid the Guest Certificate fee.