Rental strict cancellation policy - Covid19

[CPNY]

Bottom line here is we are all going to take a financial hit thru this, all the way around.

Some more than others,

Funny part is we want someone else to assume the brunt, not me, that’s nature.

This thread he went above and beyond, hats off !
I think Redweek was wrong for asking. I think he should be paid in full now , not in October he proved worthy enough already plus any extra fees he was charged.

Dave

RW in the process of my emails back and forth where the agent said I would be responsible changed and said they would pick up any fees incurred. Also, I agree. I should be paid now, at least half of the rental. Considering it seems that RW charged the renter a 145 dollar service fee along with my 99 full service listing fee they mad 245 on that listing. For them to ask me to negotiate with the renter on my own because they were backed up was insanity. I will never use redweek full service ever again but if in the off chance I decide give it another shot, I will set to strict cancellation and never even open an email I receive. Don’t Care if aliens are attacking. After this situation, that’s my stance.

 

[CPNY]

As long as they are banked, they are yours to use and keep. Once StarOptions are banked, the use year is considered gone.

If not banked but they are part of a reservation would that matter? The sale going through has the use year 2021, not sure if vistana would still transfer the reservation then

 

[dioxide45]

If not banked but they are part of a reservation would that matter? The sale going through has the use year 2021, not sure if vistana would still transfer the reservation then

Vistana doesn't really have the capability to keep a use year in your account and transfer the contract to someone else. Once a contract is transferred, I believe reservations are often cancelled, unless you specifically specify that they are to be retained because the new owner wants them. If you want to keep usage, the best way is to bank the SOs or wait to transfer until after usage is completed.

 

[VacationForever]

While this is no one s fault, I think Congress should enact immediate legislation that requires the full and complete refund for any properties in areas Designated as dangerous i.e. the Governor(s) of the State have declares an EMERGENCY. All claims have to be made within 14 days of the declaration and you can not make a claim for a reservation that is 60 or more days out from the original declaration unless the declaration is extended. Also this would apply to all airlines tickets / cruise tickets / training tickets / tours etc..... Now a person renting should be able to purchase an insurance policy that would cover them.

The entire world is dangerous.

 

[SmithOp]

While this is no one s fault, I think Congress should enact immediate legislation that requires the full and complete refund for any properties in areas Designated as dangerous i.e. the Governor(s) of the State have declares an EMERGENCY. All claims have to be made within 14 days of the declaration and you can not make a claim for a reservation that is 60 or more days out from the original declaration unless the declaration is extended. Also this would apply to all airlines tickets / cruise tickets / training tickets / tours etc..... Now a person renting should be able to purchase an insurance policy that would cover them.

You can’t be serious, expecting taxpayers to pay for canceled LEISURE TRAVEL! Congress bails out businesses, think GM in 2008. We are all going to take the hit from this thing.


Sent from my iPad using Tapatalk Pro

 

[chapjim]

While this is no one s fault, I think Congress should enact immediate legislation that requires the full and complete refund for any properties in areas Designated as dangerous i.e. the Governor(s) of the State have declares an EMERGENCY. All claims have to be made within 14 days of the declaration and you can not make a claim for a reservation that is 60 or more days out from the original declaration unless the declaration is extended. Also this would apply to all airlines tickets / cruise tickets / training tickets / tours etc..... Now a person renting should be able to purchase an insurance policy that would cover them.

I think the Congress should stay out of commerce. Most likely, anything the Congress might do would make things worse.

 

[chapjim]

The entire world is dangerous.

Existential risk never goes to zero. Tomorrow is promised to no man.

 

[WVBaker]

 

[DannyTS]

While this is no one s fault, I think Congress should enact immediate legislation that requires the full and complete refund for any properties in areas Designated as dangerous i.e. the Governor(s) of the State have declares an EMERGENCY. All claims have to be made within 14 days of the declaration and you can not make a claim for a reservation that is 60 or more days out from the original declaration unless the declaration is extended. Also this would apply to all airlines tickets / cruise tickets / training tickets / tours etc..... Now a person renting should be able to purchase an insurance policy that would cover them.

And who is going to compensate the little corner restaurant in NYC that will be empty in the next month or so? The examples are endless, the US tourism and travel industry is 1.6 trillion dollars a year!

The only way for the industry to deal with this in the future is to boost the cancel for any reason insurance products for all types of travel. If you want to be fully protected, you buy it and of course it may be expensive. If you do not take it, you should not expect others to pay for your loss, it should strictly go by the terms of the booking agreement.

 

[CPNY]

Vistana doesn't really have the capability to keep a use year in your account and transfer the contract to someone else. Once a contract is transferred, I believe reservations are often cancelled, unless you specifically specify that they are to be retained because the new owner wants them. If you want to keep usage, the best way is to bank the SOs or wait to transfer until after usage is completed.

Argh. That’s terrible lol

 

[carolhab]

What's the point of having a strict cancellation policy if you aren't allowed to enforce it? Shouldn't the renter accept some responsibility here? Shouldn't they have purchased travel insurance? Although even travel insurance wouldn't cover "I just don't want to go now."

I'm on your side.

I have a similar problem. I used VRBO for my rental with a strict cancellation policy (no refunds). The rental is not until Aug 6 and they are asking for a refund of the 50% down payment. VRBO is strongly suggesting I give a full refund. I think this is getting way out of hand. Any thoughts.

 

[Maple_Leaf]

I have a similar problem. I used VRBO for my rental with a strict cancellation policy (no refunds). The rental is not until Aug 6 and they are asking for a refund of the 50% down payment. VRBO is strongly suggesting I give a full refund. I think this is getting way out of hand. Any thoughts.

I'm sure you're a really nice person and a fine landlord. That said, at this point in time I wouldn't pay you a non-refundable down payment. Since the trip cancellation insurance market has been left dead-on-arrival by the Wuhan coronavirus I can no longer reasonably insure my risk of having to cancel. That's just the way it is these days. So, if you want to remain in the hotel business you will need to come up with a solution to my cancellation risk problem, otherwise I'll go elsewhere. I can cancel a hotel on as little as a few hours notice if required. Why lose my deposit with you?

 

[CPNY]

I'm sure you're a really nice person and a fine landlord. That said, at this point in time I wouldn't pay you a non-refundable down payment. Since the trip cancellation insurance market has been left dead-on-arrival by the Wuhan coronavirus I can no longer reasonably insure my risk of having to cancel. That's just the way it is these days. So, if you want to remain in the hotel business you will need to come up with a solution to my cancellation risk problem, otherwise I'll go elsewhere. I can cancel a hotel on as little as a few hours notice if required. Why lose my deposit with you?

You bring up a great point. You can book a hotel and pay more, you can make that booking with a cancellation policy. You can also choose a lower rate as non refundable. Renting one or two units is not operating a business and honestly, booking a VRBO or airbnb is always taking a risk. Being that it is so far out in August, I think cancelling now shouldn’t be covered. As things get close and nothing has changed that a different situation. Say in a month from now they find this virus is gone, or they have found a vaccine or treatment? It’s a risk for both the owner and renter. I have a flight with delta to Italy on June 3rd. I cannot cancel for free because cancellation is only going through May 31st. Where is my protection? They are a larger company worth billions. If I can cancel in June a few weeks away, why are they expecting to cancel in August. We may be in the clear by then.

 

[TravelTime]

I think the entire refunding situation is getting out of hand. If you have a contract, try to stick to the contract if you can. At best case, maybe split the difference and refund half and that is being generous. If you can redeposit the points or put the week in II, then that's an option so it is somewhat of a win-win. Now the government is saying individuals and small businesses do not have to pay rent. In some counties, there is a moratorium on evictions. All we are doing is transferring losses from one person to another person. It fixes very little. Then the government spends $2.3 trillion to bail out but even that is not going smoothly or quickly enough. I think the situation is a train wreck. Everyone is going to have losses. Just hope that yours are small in the big scheme of things.

 

[montygz]

I think the entire refunding situation is getting out of hand. If you have a contract, try to stick to the contract if you can. At best case, maybe split the difference and refund half and that is being generous. If you can redeposit the points or put the week in II, then that's an option so it is somewhat of a win-win. Now the government is saying individuals and small businesses do not have to pay rent. In some counties, there is a moratorium on evictions. All we are doing is transferring losses from one person to another person. It fixes very little. Then the government spends $2.3 trillion to bail out but even that is not going smoothly or quickly enough. I think the situation is a train wreck. Everyone is going to have losses. Just hope that yours are small in the big scheme of things.

A moratorium on evictions doesn't relieve the debt, it just kicks the can down the road. And, yes, the shutdown eliminating several months of revenue and income is destroying wealth. The hotel rooms that were not rented in April can never be rented again. That wealth has been destroyed. In the end, hopefully kicking the can down the road will prove to be a better outcome for the economy and businesses than mass evictions, repossessions and foreclosures. The faster the shutdown ends, the better.

 

[Maple_Leaf]

You bring up a great point. You can book a hotel and pay more, you can make that booking with a cancellation policy.

Actually, Embassy Suites, Residence Inn, etc. now offer 1 and 2 bedroom suites with kitchens that I can book with 24 hour cancellation privileges. I'm supposed to be in one of those now but I cancelled when my destination went on lockdown. These are your competitors. If you won't refund and I can no longer get useful trip cancellation insurance then you will have difficulty getting my business. That shows how quickly and dramatically the market has changed.

 

[Tank]

Now- One can go anywhere right now cheap.
Now- One can go anytime kids are in school cheaper than when kids are out of school. Nothing new.

This time will pass, and things will get back to a norm. Supply and demand will rule , and we will get use to what ever the new norm is going on at the time.

We will see, adapt , and prosper !

One can stay home if not reasonable.

 

[dioxide45]

Actually, Embassy Suites, Residence Inn, etc. now offer 1 and 2 bedroom suites with kitchens that I can book with 24 hour cancellation privileges. I'm supposed to be in one of those now but I cancelled when my destination went on lockdown. These are your competitors. If you won't refund and I can no longer get useful trip cancellation insurance then you will have difficulty getting my business. That shows how quickly and dramatically the market has changed.

I agree. Many renters will be leary of strict no cancellation policies. Knowing what I know now, I certainly wouldn't put down a big deposit or 100% upfront with a no cancellation policy. I find it interesting that people want to start using their own contracts because they didn't like what Redweek and others are doing. The problem is, will you be able to find someone willing to sign that contract with a no cancellation, no if ands or buts, policy written in?

The thing is though, as time passes, so will people's memories. So as the prior poster indicated, things may get back to normal. I just think it will take many years to get there.

 

[VacationForever]

I agree. Many renters will be leary of strict no cancellation policies. Knowing what I know now, I certainly wouldn't put down a big deposit or 100% upfront with a no cancellation policy. I find it interesting that people want to start using their own contracts because they didn't like what Redweek and others are doing. The problem is, will you be able to find someone willing to sign that contract with a no cancellation, no if ands or buts, policy written in?

The thing is though, as time passes, so will people's memories. So as the prior poster indicated, things may get back to normal. I just think it will take many years to get there.

I rented our 2 weeks of DSV I this year using Redweek site and I used my own rental agreement. Payment in full within 7 days of signing and reservation in renter's name, no refund unless the resort is closed due to unforeseen circumstances. My renter was very comfortable with the terms. She ended up staying 10 of the 14 days, making home to Canada before border was closed. I checked with her after she got home and she told me not to feel bad about the situation. She had also paid in full for March 2021 weeks in February this year, with the same terms. I guess I lucked out in her finding my ad.

 

[CPNY]

Actually, Embassy Suites, Residence Inn, etc. now offer 1 and 2 bedroom suites with kitchens that I can book with 24 hour cancellation privileges. I'm supposed to be in one of those now but I cancelled when my destination went on lockdown. These are your competitors. If you won't refund and I can no longer get useful trip cancellation insurance then you will have difficulty getting my business. That shows how quickly and dramatically the market has changed.

I’ll stick with a westin resort over an embassy suites or residence inn any day of the week. Pandemics aside, no cancellations isn’t going away. In this situation i think working with renters to amend contracts is more of an ethical and decency matter and less of a contractual matter. In the very beginning when people were still traveling I worked with my renter for an alternative. As time went on and if I had a rental now during this time, I wouldn’t be concerned with not letting the renter out. I would of course do what I could to share the losses.

places like residence inns and embassy suites are no competition for top of the line timeshare resorts, I’m sorry. Maybe in places like orlando or other destinations, I don’t think you’ll find residence inns or embassy suites comparable to Marriott, Westin, Sheraton, Hilton or Hyatt vacation club resorts.

 

[R.J.C.]

Actually, Embassy Suites, Residence Inn, etc. now offer 1 and 2 bedroom suites with kitchens that I can book with 24 hour cancellation privileges. I'm supposed to be in one of those now but I cancelled when my destination went on lockdown. These are your competitors. If you won't refund and I can no longer get useful trip cancellation insurance then you will have difficulty getting my business. That shows how quickly and dramatically the market has changed.

It's interesting how you think an individual timeshare owner renting their unit has the same depth of pockets as these hotel chains. And how about sharing the price of a 2 bdrm suite of one of these chains? I'll bet it's higher than the maint fee cost of a timeshare.

 

[R.J.C.]

I agree. Many renters will be leary of strict no cancellation policies. Knowing what I know now, I certainly wouldn't put down a big deposit or 100% upfront with a no cancellation policy. I find it interesting that people want to start using their own contracts because they didn't like what Redweek and others are doing. The problem is, will you be able to find someone willing to sign that contract with a no cancellation, no if ands or buts, policy written in?

The thing is though, as time passes, so will people's memories. So as the prior poster indicated, things may get back to normal. I just think it will take many years to get there.

Most of those contracts through whomever already have no cancellation policies written in them (which Redweek and others are ignoring) and people booked anyway. Most people only look at the $$$ and if it's $100 cheaper for a Redweek booking than one of those fancy hotels, they'll take the less expensive cost in a heartbeat.

 

[montygz]

Most of those contracts through whomever already have no cancellation policies written in them (which Redweek and others are ignoring) and people booked anyway. Most people only look at the $$$ and if it's $100 cheaper for a Redweek booking than one of those fancy hotels, they'll take the less expensive cost in a heartbeat.

If a slump in tourism and recession causes hotel prices to drop, the timeshare rental market will also drop. Also, when you add uncertainty, like taking away the possibility of travel insurance, people are going to need and incentive to book, and that incentive is a lower price.

One way to keep rental customers is to offer some kind of cancelation policy. It is also a way to differentiate themselves in the marketplace. Places like Redweek could put some kind of special box or logo to mark what timeshares have a cancelation policy and ones that do not to help guide consumers in their decisions.

Sadly, as rental prices drop, it's likely going to bring more timeshare defaults and other issues for the industry.