Completing a Rental Transaction

We offer two suggestions for completing a rental transaction in our Help section: one privately managed, and one that involves a third-party escrow company for transfer of the funds.

I would like to hear from anyone who has used one of these methods. What did you think about the process, and how could it have been improved?

Has anyone found a solution that works better?

Thanks, Kylie

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

I also did almost the same as Pat in rented several of my weeks. I still have the Midwest American Spirit and believe in people. This has worked and will continue to do so unless I get burnt.

Pat, where did you get your rental agreement? I've found several on the internet but none are "perfect" for our situation. I'm not sure just how detailed I should make the contract. I am a "handshake" kind of person but my family wants some protection. Thanks,

Nancy

You can download rental and sales contracts at www.timesharingtoday.com for a small fee

nancyf36 wrote:

Pat, where did you get your rental agreement? I've found several on the internet but none are "perfect" for our situation. I'm not sure just how detailed I should make the contract. I am a "handshake" kind of person but my family wants some protection. Thanks,

Nancy

Does a rental at an " all inclusive" resort really include everything for all the people in the suite? for Example if the suite sleeps 6 and the price is $87.00 a night, is that the all inclusive price for all six - or is there an additional price for more than 1 or 2 people when you get to the resort? Also I notice the same resorts will have different rental prices for the same thing with quite a range difference in price. It leads me to think that some may include the 'all inclusive 'price in their rentals and some others don't . since I must pay for the up-graded account to contact owners I can't find this info out , please let me know thanks, Kathy

I believe you are paying for the rental of the room only, the all inclusive fee usually is paid directly to the resort upon check-in. Some resorts charge a minimum depending on the size of the unit. For example if you have a 2 bdrm unit but are only 2 people the resort may still charge you for 6 as the unit accomodates. Make sure you get all the details before you confirm. Sometimes it's a good deal and sometimes an all inclusive from a travel agent is better especially if it is off season.

kathya6 wrote:

Does a rental at an " all inclusive" resort really include everything for all the people in the suite? for Example if the suite sleeps 6 and the price is $87.00 a night, is that the all inclusive price for all six - or is there an additional price for more than 1 or 2 people when you get to the resort? Also I notice the same resorts will have different rental prices for the same thing with quite a range difference in price. It leads me to think that some may include the 'all inclusive 'price in their rentals and some others don't . since I must pay for the up-graded account to contact owners I can't find this info out , please let me know thanks, Kathy

Hi,

I'm very new to the whole timeshare rental/ownership thing. I have two bonus weeks I would like to rent out at the Fairfield San Diego at Harbor Lights. Do I take a risk and book a date for next year and hope that someone will rent from me that week? Please help!

As a first timer I have several units up for rent as well as trying to make an exchange on another. The information on getting a rental contract through www.timesharingtoday.com is a good one, but does anyone have any recommendations on how they handle payment? Is it customary to ask for a deposit or payment for the weeks rental fee upfront? If it is a deposit, how much and by when? Any suggestions would be appreciated to make our first time good experience.

Hey Sue! Everyting is negotiable, of course, but I use a payment schedule that pretty much follows the template provided by the First American Title Insurance Company that offers services to RedWeek users right here on our Board! They stipulate that 50% of the Total Rent be submitted upon acceptance of the Rental Contract , and I very rarely budge from that point, as it is most important if you are to agree to take your property off the rental market, IMO!

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?

Does he/she get a refund if he/she decides not to rent?

What type of member ship do I need if I want to list several timeshare units for rent, and how much?

Is there any hidden cost, like ebay.com, posting is only good for one week, and added cost when have more than one listings?

Thanks,

Soon

Soonn, 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 jayjay and a very few other people this fee is not liked.

One post on here will give you a lot of information from other people. The post is listed as Membership Required for Potenial Renters and has 58 replies on it!

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 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!

Hi Phill12,

Thank you for your email.

I agree with "When you list on here most of your interest will come from members who already own a timeshare and probley trying to rent theirs. Do you see a pattern here."

I will try my luck elsewhere.

Soon

I have rented my unit through RedWeek.com for the last three years. I have two weeks each year.

The first year, I advertised through RedWeek and through TUG. I didn't get any responses from TUG at all, but I got several responses through RedWeek and rented the units fairly quickly. I don't bother using TUG anymore for rental purposes.

The first year, I downloaded a contract, and used that, but then decided to do away with it. I require full payment in advance. I reserve a specific week, by the way, and so people respond to that week.

I have had only good experiences so far with RedWeek renters. I have to say I don't understand...really!...the previous two replies about 'interest coming from members'.

Sounds like you had some good luck on here! What I was saying is most of the people that see your ad are already members and keep an eye on everything here.

Many of these members are trying to sell or rent their units too so they watch all the other ads.

One member responded that if 10 % of the shoppers joined to talk to her for that fee of $9.99 she would feel lucky. She didn't hol out alot of hope because of the fee!

My point for someone wanting to join Redweek to rent or sell should first look at the resort they own and maybe check out others. See how many listed as sold or rented.

This doesn't make me want to rush in and pay more money to Redweek to list my timeshare. This fee turned me away last year and I went back to the resort resale office and bought and saved money over buying one listed here. I wasn't going to bother with a fee to talk to a owner about his over priced unit then go back and have Redweek credit me back.

Hope that cleared it up for you! Happy Holidays

If I was a person looking for a rental then Redweek is the first place I would look on the internet. If I found a rental of interest then paying a small fee to communicate with the person renting is not a big deal when there's several hundred dollars involved.

Redweek advertises in many genres in order to persuade people to check out this site. How many other timeshare listing sites buy advertising to do this?

I disagree that only Redweek members are the people renting weeks from other Redweek members. As has been evidenced in postings here, many non-members looking for rentals are successful in finding those rentals on Redweek.

Phil, you keep beating that dead horse about having to pay a fee to communicate with renters and sellers on Redweek. You are now trying to turn away potential customers from listing or renting here as is seen above with soon. The fee issue has been discussed adnauseum here and is now moot since Redweek is not going to change their policy. If they were they would have already done it.

Why don't you move on to other issues concerning timesharing that can be helpful and beneficial to people that read these forums.

norin wrote:

Hi,

I'm very new to the whole timeshare rental/ownership thing. I have two bonus weeks I would like to rent out at the Fairfield San Diego at Harbor Lights. Do I take a risk and book a date for next year and hope that someone will rent from me that week? Please help!

Hi,

We have found that reserving the time and then posting works out better for us. We tried using a time span and people would call at the last minute to reserve and the requested dates were not available.

Some resorts will allow you a 30 day cancellation without penalty or may charge a small fee to cancel. It depends on the resort.

So, far we have rented using the Rental escrow service on Redweeks and that has worked out better. Of course, it was the renter's choice, which was fine with us.

Mary Ellen

First, if you look at JayJay's postings, they regularly have great info. That alone is worth $10 in a timeshare world where developer salespeople refer to potential buyers as lemmings and resale "brokers" are often scams.

The price of ignorance is much higher, I assure you...

I like the $10 fee because I never have to deal with window shoppers. My time is valuable to me and I dislike the people who have no life and want to waste some of mine too. If it were more, I would agree but you can't feed 2 people for $10 at McDonalds.

I have sold several units and rented others through redweek.

I have also sold and rented through myresortnetwork.com and vacationtimesharerentals.com with great success. I find the highest "conversion rate" of prospects to actual transactions is highest here.

I belong to and am very active on TUG2, It is a great place for learning but seems to be dead for sales/rentals, never get a "hit" from a ad there.

Bidshares is another site with plenty of listings but seemingly no buyers/renters.

PS. I personally own anything I have sold or rented with the exception of once helping a friend with selling her her week.

DELETED BY BETTERHALF!

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