New to Redweek - Help

I have a unit listed for rent on Redweek and have interested renter who says that "Redweek advises 50 percent deposit until reservation is provided and also they want us to call and confirm ownership or usage rights". Based on other advice I was asking for total rent up front now (for April usage) paid through Paypal, after which I will obtain Guest Certificate from Wyndham. What is she talking about? I can find nothing on Redweek website.

There is no right or wrong way to do a rental, but most people would not be comfortable paying 100% upfront with no proof of the reservation. Personally - I'd never do that.

When I rent my timeshares, I ask for a $100 deposit upfront, then I send the renter a confirmation from the resort in their name, and then the balance is due in full within 24 hours.

More info. - http://tugbbs.com/forums/showthread.php?t=109479

I've had good experience with Redweek.

I do ask people for payment in full on a non-refundable basis. I usually suggest Paypal because that gives me immediate confirmation that payment is received. As I explain to the renter in advance, as soon as I get their payment I call the resort with their name and address, and I invite them to call the resort directly so they know they're expected.

What you describe is Redweek's escrow service. The way it works is actually OK for the owner of the week - - they pay 50% upfront and once the date is (as I recall) 6 weeks away they pay the balance. Redweek holds the money until after the rental but I assume since the week is there for them it's hard to see what they could tell Redweek that would cause you not to receive payment. The problem is the Redweek escrow is not cheap - - I think it's $150 for most rentals. Redweek suggests the fee be split between the two parties but I tell people if they want to use the service they need to add the full $150 to the rent. So far that's prevented anybody from actually using the service but I think it's helpful that I give them the choice.

To me its all depends on how much you want to accomodate the renter.

As for me, I send a rental agreement to the renter. If they accept the terms , which is 100% due upon receipt of official reservation in the renter's name, I'll send the official reservation in their name prior to payment being rendered.

I do this for two reasons, it does give the renter peace of mind and its no loss to me, becuase at least with Marriott there is no cost sto change names, so if renter changes their mind I just change the reservation with Marriott.

As for verifying ownership, that is something the renter should want to do because anything you send them can be forged. I give the Marriott customer service number to the renter and they can do the validation of ownership.

As for accepting partial payments, I used to, but find i no longer need to because I get so many offers. Just recently someone tried to low ball me and suggest staggered payment for a Maui 2012 week. I said no thanks price is firm and I require full payment. He said, "OK I'll take it"

Now if I was more desperate I would have considered his offer, but I wasn't. So you have to decide if you want to play cat and mouse considering April is not that far away.

As it is Wyndham and $99 guest certificates are not free, provide the rentor with your Wyndham reservation number for the week (and your name including its spelling) and ask them to call the resort's Front Desk (24-7), to verify DATE, unit size, and that this week is reserved for you or YOUR GUEST.

Then get FULL PAYMENT. I email them my rental agreement ASAP with a date 7 days in future. Paypal. Overnight mail. USPS money order (which is insured). Bank Draft/Cashier's check. Certified Mail. However, they want to send it to me (my post office box). I have even given the nervous Nellie's, the phone number to the post office; I tell them I receive all checks there, so none are missing from my box at the house.

As for Redweek, when possible renters start with the Redweek recommends the escrow service, I very politely tell them - Yes, they do AS they collect over $100 for that service - which is why I don't recommend or use it.

Nope...

vacationhopeful said:

As for Redweek, when possible renters start with the Redweek recommends the escrow service, I very politely tell them - Yes, they do AS they collect over $100 for that service - which is why I don't recommend or use it.

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It is not RedWeek which collects (or which receives any portion of) that "recommended" escrow service fee; it is actually (and only) First American Title involved.

That said, I have no use for that escrow service, but for an entirely different reason. No matter who pays the escrow fee, I feel that it is quite simply unacceptable for an owner to have to wait until several weeks after the rental has already been completed before receiving any payment for the rental.

theo said:

It is not I personally feel that it is simply unacceptable for an owner to have to wait until several weeks after the rental is actually completed before receiving payment for the rental.

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+1 - I won't accept escrow either.