Renting through Red week for the first time - nervous...

Hi there

i am renting through red week for the first time i have enquired about a one bed at Atlantis and a 2 bed in Orlando.. the people who own these are very helpful and patient with me.. but i am worried they may just take my money and run... what can be done if this actually did happen and has it happened to anyone out there please?

Thanks in advance. :)

There should be a rental agreement in place from the owners stipulating the terms of the rental and signed by the owner and you. You can find sample rental agreements by clicking 'search forums'.

I have phoned the resort and they say that the week at the timeshare has been put in my name... the person wants the full amount up front.. do you think i still need an agreement?

Thanks

See my reply in the other threads concerning this issue.

Hi Jay jay

I cannot find the threads you mean... thanks. Also i am in Australia so will a rental agreement mean anything? I have now said that i will pay 50% up front and then the rest 60 days before we arrive, do you think this is fair? Thanks

terryc131 wrote:

Hi Jay jay

I cannot find the threads you mean... thanks. Also i am in Australia so will a rental agreement mean anything? I have now said that i will pay 50% up front and then the rest 60 days before we arrive, do you think this is fair? Thanks

The 50% upfront and the rest 60 days before arriving sounds fair, but if it was me I'd prefer it in writing, but that's just up to you.

As a renter I think you would be more likely to back out than the owner and 60 days doesn't give the owner much time to try to re-rent. I think a lot of owners will say no to the 50/50 route especially if they have it priced competitively and are experienced renters. I think 90 days is more reasonable but even at that you may not get the owner to accept. You can ask for whatever terms you like but I think more than 50% do expect 100% at the time the reservation is put in the renters name.

terryc131 wrote:

Hi Jay jay

I cannot find the threads you mean... thanks. Also i am in Australia so will a rental agreement mean anything? I have now said that i will pay 50% up front and then the rest 60 days before we arrive, do you think this is fair? Thanks

This was my response from your other posting "Help Please"

Hi Terry, I see you asked essentially the same question in multiple places. Not everyone uses a rental agreement but most do. I have a set of terms I send to the person who wants to rent my unit and basically say that if you send me money you are agreeing to the terms. If they want it printed out and signed by both of us, I can do that but usually don't.

If you are uncomfortable and nervous about the transaction, you can ask to use an escrow service. It would cost about $100-$200 depending on the cost of the rental. Most buyers would expect you to pay it if they even agree to it at all. In most cases the owner paid the MF's months ago and doesn't want to wait until a week after you check out to get paid. It comes down to trust. You need to trust the person renting the unit. Other than recent reports at Harborside Atlantis, I have heard way more stories of renters bouncing checks, requesting charge backs, disputing payments, trashing units, etc than people showing up and having the room be unavailable.

I feel as though the renter wants it all their way though. What is to stop them receiving all my money and then cancelling the week? How do i know if the maintenance fee has also been paid? Thanks

terryc131 wrote:

I feel as though the renter wants it all their way though. What is to stop them receiving all my money and then cancelling the week? How do i know if the maintenance fee has also been paid? Thanks

I can't understand why the owner doesn't want to use a rental agreement ..... an agreement protects both the owner and the renter. I would be more concerned that this might be an exchange since the owner doesn't want to use an agreement. Rentals of exchanges are not allowed.

I think I would shop around for other accomodations since the owner refuses to use an agreement.

From Tug (timeshare users group)- http://tugbbs.com/forums/showthread.php?t=109479

How to verify that a rental is Legit (when you are the renter)

Thank you very much for all your help :) I have asked the questions.