Great answers above.
While I have only rented weeks a few times over the past couple years, I've found it to be fairly straightforward. It does require a little work though and a little bit of patience/risk, so be prepared. I rent mainly via Redweek, while I do also post elsewhere. I price not too high or too low, but what I feel is fair....slightly at or below market. With assistance of other TUGgers, I was able to create my own contract form which I felt worked for me. As a result, I do choose to manage that approval process, signatures, and payments.
My steps.
1. Reserve high demand week with Marriott
2. Post for rent (Redweek, VacationCandy, TUG, Facebook forums, etc). Others also use Craigslist, Ebay, VRBO, AirBnB, etc.
- I generally post at 6 month prior to checkin with Redweek. I may rethink this and post earlier. Trying to avoid two posting feed. I'd be interested in others renters opinions here as to when the best time to post is? I'm not sure how many non timeshare people truly book 12 months out?
- With Redweek, I use Do It Yourself Basic. I do not want to use their escrow service, as they hold money until after check-in. Riskier in my view.
3. Once a renter is found, I send contract for signature.
- PDF form. Basics as indicated above (Week, view, date, owner & renter information, etc.). I like the idea of digital signature via Adobe, and may add that. Eliminates scan, fax/email.
4. Once signed contract is received, I amend Marriott reservation and send them an email with updated reservation and name.
- I'm still skeptical on best way to do this? Online or via phone? I've done both. If phone, modify primary name or add as guest? I've done both. Also add their email (so they get Planning email) or keep under your email? I've done both. :/
5. Allow payment via check or Paypal within 7 days of contract signature. I allow 50% deposit now and final 50% at 90 days out. Or...100% up front with slight discount.
- Most of mine pay within a day or so of contract signature.
- Make sure to clarify if paying via PayPal...that they use Friends&Family (no fee) or clarify if you or they pay the 3% PayPal fee.
- Think about your refund policy. Some do no refunds. Some no refunds within 60 or 90 days out of checkin. Some do refunds only if the owner is able to re-rent. Make sure this is covered in your contract.
6. If Plan My Vacation email comes to me, I'll forward to renter and ask them to fill out and/or contact the resort for preferences (not guaranteed)
Hope this helps.