renting

We are in the process of renting a timeshare for two weeks for 2013. the owners want the total amout of money up front now. Said this is how it is done. I'm a little uncomfortable about giving the total amount now for 1 year and half from now or until Dec/Jan. They said we would get certificate for our weeks picked in Dec/Jan? Is this correct?

Many timeshare owners who rent units want all of the money upfront; others split the payment -- especially if it is months in advance.

Two things make me suspicious about your particular situation. The first is that the owner is giving you a "certificate", possibly a guest certificate from an exchange. It is against the rules to rent most exchanges (certainly Interval International exchanges) and the underlying reservation could be cancelled, leaving you in the lurch. The second is that most timeshare reservations can be made only one year in advance, suggesting that the owner doesn't yet have the unit reserved for the week you want to rent.

Ask the person renting you the unit for a copy of the reservation showing that they have a reservation for the weeks in question and showing that it is in the "owner's" name.

Here you go - How to confirm that a rental is Legit.

Getting the rent in full in advance is not unusual, but renting 18 mos. in advance is a little unusual.

I would not pay in-full, until I had the confirmation in hand. If they can't provide it yet, then they should not be asking for the full amount of the rent until they can.

I ask for a small deposit when Im renting my weeks, but when I present a confirmed reservation, with the renters name on it I expect payment in full.

Having said that, almost everything I do is last minute stuff nothing 18 months out

I've rented 13 months out when someone actually found my website, not my Redweek ad, and asked if I had a week to rent her.

I do sometimes honor a request for a payment plan as long as I have 60% upfront and balance due no later than 90 days from check in.

I make it clear that if I don't receive that final payment at the 90 day mark the unit will immediately go up for rent again and they will only get my full price minus any extra amount I'll receive.

I know I can get at least 40% within the 90 day window so I'm not risking to much by accepting a payment plan.

Unless it is a last minute rental, I ask $300 deposit to hold a reservation and let buyer verify my reserved week, then ask the balance within 10 days (or 2 weeks, depends on how far is the reservation) after reservation changed to renter's name.

bedbon said:

We are in the process of renting a timeshare for two weeks for 2013. the owners want the total amout of money up front now. Said this is how it is done. I'm a little uncomfortable about giving the total amount now for 1 year and half from now or until Dec/Jan. They said we would get certificate for our weeks picked in Dec/Jan? Is this correct?

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This is not "how it's done". There IS no "how it's done". If the owner's requests are unreasonable, please don't rent from them. Some owners will insist that they only do business a certain way - stay away from them. There are too many choices out there to settle for unreasonable demands that erode basic contract law and consumer common sense.

The owner needs to provide a rental agreement; both for your protection and for his or hers. Do not rent a unit without one. The red flag is receiving a confirmation much later, but requiring payment upfront now. Why? Is the week reserved? Is this an exchange? Is this completely legitimate?

No matter what anyone might tell you, it is folly in this day and age to provide full payments without the confirmation of a legitimate reservation. Do not think that sending the money in a check or a money order or even with Paypal will protect you. Use a credit card and protect yourself that way.

You are right to proceed with caution, especially this far out. Get everything in writing and only send the funds when you feel satisfied that this is correct and legitimate. As someone who was a party to a rental transaction gone very badly, I can speak with experience. Although the party who was involved in that transaction continues to post with impunity on this site, I mostly lurk - except when it involves something as important as renting. Get it ALL in writing, don't accept terms that aren't acceptable to you no matter what anyone says, and follow your instincts. No vacation is worth the headaches that one bad transaction will cause!!

As always, YMMV. Good luck.

Rental

I am renting from one owner who asked for a small deposit ($200). Then, she put the confirmation in my name and I sent about 1/2. Then, 6 months later I sent the balance. I started this process a year in advance through an ad in Redweek that I saw.

I am also renting from another owner who owns overseas (she lives in US). She put the confirmation in my name. Then, I sent her half and in Dec I will send the other half. I started this process over the summer for our trip in June 2012. (I actually started my TUG wish list for this almost a year ago before I decided to defintiely take the trip).

I have already put my request for a winter 2013 rental on TUG! I figure a lot of timeshare owners have to make decisions soon as to whether or not they are going to use their unit or bank it, so I satrt very early. :whoopie: