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Changing a fixed week reservation to renter's name

Jiml777

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For the first time I’m looking into using some of my excess Wyndham or Shell points to rent out a week to defray maintenance expenses. I currently have a two bedroom 7 day reservation during February 2016 in my name at a prime Wyndham ski resort in Utah. I plan to advertise this specific week, find a renter for the week, then call the resort to provide them with the renter’s/guest’s info and ask the resort to change the reservation into the renter’s/guest’s name.

(1) Has anyone run into problems with Wyndham or Shell using this procedure; that is, is this sort of thing done as a matter of routine? (2) Any other advice related to the topic will be appreciated.
 

DeniseM

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You can't call the resort - you have to call owner services and have them issue a confirmation in the guest's name.

I don't know about Shell, but there may be a fee of $99 fee from Wyndham, depending on the type of ownership you have.

Also - No savvy renter is going to rent from you, if you can't provide an official confirmation in their name, that they can call and confirm.

You will be facing a lot of competition, and it's fairly late to get started with a rental that is only 4 mos. away.

-You will want to advertise it widely
-Make sure you look at the Comps and then price it competitively (bottom 20%)
-Figure out your rental terms/process before you advertise so that you can discuss it coherently with renters.
-Unfortunately, there are scams out there, so expect renters to need documentation.
 
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Jiml777

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You can't call the resort - you have to call owner services and have them issue a confirmation in the guest's name.

I don't know about Shell, but there may be a fee of $99 fee from Wyndham, depending on the type of ownership you have.

Also - No savvy renter is going to rent from you, if you can't provide an official confirmation in their name, that they can call and confirm.

You will be facing a lot of competition, and it's fairly late to get started with a rental that is only 4 mos. away.

-You will want to advertise it widely
-Make sure you look at the Comps and then price it competitively (bottom 20%)
-Figure out your rental terms/process before you advertise so that you can discuss it coherently with renters.
-Unfortunately, there are scams out there, so expect renters to need documentation.
Understood. Thank you for the quick and helpful response.
 

Beefnot

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For Shell, you can call SVC to place a reservation into a guest's name. They have some nightly process that has to run before you could see the confirmation in the guest's name. But you have to call SVC again the next day and ask them to resend the confirmation.
 

vacationhopeful

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Actually, if the Wyndham reservation is a FIXED WEEK, you call the resort and ASK for the email address to send the GUEST LETTER for your friend (the renter) ... NO FEE. Reservation using Wyndham points .. donate MORE money for the $99 online Guest Certificate or $129 to do the call in the Guest Certificate to Member Services (real PIA when the reservation is made & paid via Paypal as they sit FRIDAY night at 10PM in the resort's parking lot.:crash:)

Shell reservations are generally points reservations but there might be some floating or fixed week also. Points is a paid Guest Certificate. Float and Fixed weeks should be the letter route.
 

ronandjoan

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For the first time I’m looking into using some of my excess Wyndham or Shell points to rent out a week to defray maintenance expenses. I currently have a two bedroom 7 day reservation during February 2016 in my name at a prime Wyndham ski resort in Utah. I plan to advertise this specific week, find a renter for the week, then call the resort to provide them with the renter’s/guest’s info and ask the resort to change the reservation into the renter’s/guest’s name.

(1) Has anyone run into problems with Wyndham or Shell using this procedure; that is, is this sort of thing done as a matter of routine? (2) Any other advice related to the topic will be appreciated.

Yes, If you are the fixed week owner for a resort that is a completely different deal than from using points.

Also, you still might get a renter. A lot of people do not plan ahead. However have a back up plan, e g SFX might take it as a late deposit.
 

Jiml777

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I have several free Guest Certificates with Wyndham, so the $99 fee shouldn't be a problem. However, a late payment to process through Paypal and the bank could be. I'll probably use the Red Week escrow service for this first effort, which will should ensure money is collected and processed well before date of arrival.
 

DeniseM

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I have several free Guest Certificates with Wyndham, so the $99 fee shouldn't be a problem. However, a late payment to process through Paypal and the bank could be. I'll probably use the Red Week escrow service for this first effort, which will should ensure money is collected and processed well before date of arrival.

I would never use escrow - do you realize that if the renter is unhappy with the rental and disputes it, you might not get paid at all? Pus it's expensive.

If the renter makes a Paypal payment with a credit card, it's an instant payment - deposited in your Acct. immediately. Even if they make a bank transfer with Paypal, it's no more than 5 days.
 

Beefnot

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I would never use escrow - do you realize that if the renter is unhappy with the rental and disputes it, you might not get paid at all? Pus it's expensive.

If the renter makes a Paypal payment with a credit card, it's an instant payment - deposited in your Acct. immediately. Even if they make a bank transfer with Paypal, it's no more than 5 days.

The fears of escrow are overblown. I have had no issues, knock on wood.
 

DeniseM

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The fears of escrow are overblown. I have had no issues, knock on wood.

I'm just not willing to wait until after the rental to know if I'm going to get paid or not.
 

Beefnot

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I'm just not willing to wait until after the rental to know if I'm going to get paid or not.

I hear you, but there may be a LOT more money to be made if you are willing to step out...
 

Jiml777

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I'm just not willing to wait until after the rental to know if I'm going to get paid or not.
Here's what I've learned from previous posts -- (1) price the rental competitively, especially if you're renting within a relatively short time frame; (2) make clear all terms for rental; e.g., down payment and final payment dates; (3) use Paypal to collect the rental payment rather than pay an escrow fee that delays payment and possibly risks losing all or part of rental payment in an arbitrated dispute; (4) collect final rental payment well in advance of the guest/renter arrival date to allow time to arrange the sending of a confirmation e-mail in the renter's name.

Two more questions: (1) Has anyone experienced a problem with escrows in which there have been disputes? (2) Is anyone willing to share their non-escrow procedure that ensures rentals in point-based timeshares go smoothly?

Many thanks for the responses.
 

DeniseM

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I hear you, but there may be a LOT more money to be made if you are willing to step out...

Actually, since I have clear rental terms and a fair rental process, it's rare for anyone to ask me for escrow, and even if they do, almost all of them proceed with the rental without it, once they understand how my rental process works.

To be quite honest, if someone insists on using escrow, and won't proceed without it, they are probably a very nervous renter, and probably someone who will need excessive hand holding. So I don't regret losing them.

Jim - I will send you a link to my rental terms.
 

richardm

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Used escrow hundreds of times with no trouble...

The fears of escrow are overblown. I have had no issues, knock on wood.

Same here... I've allowed renters to use an independent escrow service for hundreds of transactions. Never any issue...

The same customer that would dispute an escrow release is the same customer that would attempt to dispute a credit card payment or paypal transfer. You deal with them all the same way with a very detailed rental agreement and disclosures..

If you are a landlord who is paranoid to the point you won't accept electronic payments, you are definitely missing out on some business..
 

Jiml777

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Same here... I've allowed renters to use an independent escrow service for hundreds of transactions. Never any issue...

The same customer that would dispute an escrow release is the same customer that would attempt to dispute a credit card payment or paypal transfer. You deal with them all the same way with a very detailed rental agreement and disclosures..

If you are a landlord who is paranoid to the point you won't accept electronic payments, you are definitely missing out on some business..
No problem with electronic payments. I've used PayPal via Ebay for many years. Just working on understanding this new process.

Thank you, Denise for your rental procedures. Very impressive. (I responded via PM.)
 

Beefnot

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Same here... I've allowed renters to use an independent escrow service for hundreds of transactions. Never any issue...

The same customer that would dispute an escrow release is the same customer that would attempt to dispute a credit card payment or paypal transfer. You deal with them all the same way with a very detailed rental agreement and disclosures..

If you are a landlord who is paranoid to the point you won't accept electronic payments, you are definitely missing out on some business..

Yes, likewise and agree.
 
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