Ask RedWeek / March, 2019

What if I have to cancel a rental?

I'm worried about booking a week. What if I have to cancel a reservation?

When you're booking a vacation, there is always some concern about unexpected situations that can lead to needing to cancel your trip. But there's no need to worry. Before booking your reservation, just make sure you pay attention to the cancellation policies.

On RedWeek, three different scenarios can happen. Use these cases as a guide to decide how to book your next timeshare rental.

  1. DIY without RedWeek Payments

    When you see a week on RedWeek that's posted directly by the owner, and has some payment methods specified other than RedWeek Payments, that owner manages the transaction directly.

    The owner sets the cancellation policy — they may use one of our suggested options or have their own custom policy. Either way, the timeshare owner will be solely responsible for collecting the funds and issuing any refunds depending on what you have agreed upon. Unlike RedWeek Payments, a contract is not required when the owner manages it themselves. However, we highly recommend renters not enter into a rental agreement without a written agreement.

    We offer a sample rental agreement that serves as a starting point. Any cancellation policy and terms of a refund should be spelled out in an agreement before you send funds.

  2. RedWeek Payments

    RedWeek Payments is our new service to make rental transactions safer and easier for both parties. On rentals with RedWeek Payments, we provide the rental agreement, collect payment and signatures, and assist with any disputes before distributing payments.

    The timeshare owner chooses the cancellation policy for their rentals, and RedWeek handles cancellation and refund disbursements in accordance. Three cancellation options are supported:

    • Flexible: 100% refund if canceled at least 60 days before check-in. No refund thereafter.
    • Moderate: 50% refund if canceled at least 60 days before check-in. No refund thereafter.
    • Strict: No refunds given on cancellations.

    Every year, owners only have one opportunity to rent their week. It can be difficult to re-rent a timeshare within 60 days, which is why they can't be as flexible as hotels.

    Most RedWeek Payments rentals operate under the "Moderate" option. You should review the terms of the policy before signing your contract.

  3. Travel Insurance

    Timeshare owners can't be held responsible for unexpected situations that affect your travel arrangements. If you can't make your trip due to illness, airline interruptions, or job loss, the burden falls on you as a renter. You are subject to the cancellation policy in the agreement you signed, and payment may be non-refundable.

    If you think it's even a possibility you may have to cancel outside of the cancellation windows offered, we encourage you to purchase travel insurance. So, if something major happens causing you to cancel your trip, you may be reimbursed for your expenses.

    As much as we would love to offer this to all rentals across RedWeek, we're currently only able to offer it on RedWeek Payment bookings. The travel protection provides coverage for unused, non-refundable payments if your trip must be canceled due to a covered reason. Covered reasons include: mandatory hurricane evacuations; sickness, injury or death; extension of the school year; armed service revocation; involuntary termination of employment or other specific reasons listed in the policy.

    Always read the insurance policy terms to understand your specific coverage, as it varies based on where you live (residents of Hawaii and New York - we're currently not able to offer it to you, sorry!). You can access more details about the policy available to you here.

You'll feel less worried if you need to call off your trip due to unforeseen circumstances if you know your travel protections. So, before you book a reservation, take a look at the cancellation policies.

2 Comments

  • Avatar for carmena96
    carmena96
    Mar 13, 2019 (8 months ago)

    Great information for renter and owner!

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