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[2012] First Issue Renting my Timeshares

Discussion in 'Buying, Selling, Renting' started by HenryT, Apr 30, 2012.

  1. Brerrabbit

    Brerrabbit Guest

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    Payment methods to avoid this problem

    What would be the implications of telling renters that payments must be made by money orders or cashier's checks? Or even personal checks, if they are sent far enough in advance to clear before the actual rental starts. Avoid paypal and credit cards altogether if you are going to have these kinds of problems.....
     
  2. DeniseM

    DeniseM Moderator

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    Fraudulent checks can take weeks to (not) clear, and while you are waiting, you've taken it off the market and lost valuable time when you might have rented it to a legit renter.

    Personally, I will take my chances with Paypal and a credit card any day - most career scammers use checks - they will not register with Paypal or provide a credit card, because it's too easy to trace them.
     
    Last edited: May 8, 2012
  3. beachtime

    beachtime TUG Member

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    I always take paypal when renting my units on Redweek, Craigslist, etc. The bottom line is Paypal will take and give money without question, keeping their fee of course. They don't even know what the money is for in my case. But now I am realizing that when the S*** hits the fan, Paypal will not take the Landlord's side, they'll probably just say I violated their rules.

    Thank you TUG!
     
  4. ampaholic

    ampaholic TUG Member

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    PayPal will take PayPal's side every time.

    If a purchaser (or renter) does a charge back and basically takes the money away from PayPal - PayPal can be counted on to try and get the money back that they email to the seller.

    The hoops they pretend to jump through irregardless - they will want the money back.

    It is called a "payment with recourse" and in the dictionary we find: Recourse: The right of an individual who is holding a Commercial Paper, such as a check or promissory note, to receive payment on it from anyone who has signed it if the individual who originally made it is unable, or refuses, to tender payment.

    By taking payment from PayPal - you are endorsing the check written by the person who deposited money with PayPal using their Credit Card. If that person renigs --- you are the recourse.

    Try Western Union if you want to receive "payment without recourse" - of course savvy renters will shy away from that requirement.

    You pay your nickel and you takes your chances ...
     
  5. beachtime

    beachtime TUG Member

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    You pay your nickel and you takes your chances ...[/QUOTE]


    Amen, brother!
     
  6. siesta

    siesta TUG Member

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    Squareup.com is great, you plug the adapter into your smartphone and you can swipe credit/debit cards, or enter it manually. You can also pass the vendor fee they charge which is 1 to 3 percent on to the buyer., but you may run into problems again if they dispute the charges. Money order or cashiers check is always the safest way.
     
    Last edited: May 9, 2012
  7. DeniseM

    DeniseM Moderator

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    Fraudulent money orders and cashier's checks are routinely used by professional scammers.
     
  8. Ridewithme38

    Ridewithme38 TUG Member

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    Couldn't this same logic be used to support the idea that Walking away from a TS is ok? After all, the money it would cost you to pay a MF you can't us or don't want, as compared to the percentage it raises everyone elses MF's is about the same...

    Do you now support walking away from Timeshare ownership Denise? Or do you still believe its 'wrong' because it increases everyone else MF's?

    I adapted your post in another thread to help explain what i'm saying here

    ETA: BTW, i didn't twist your words in the other thread, just changed Paypal to a Timeshare
     
    Last edited: May 9, 2012
  9. siesta

    siesta TUG Member

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    bank issued cashiers checks from a major US bank is your best bet, as well as a western union issued money order. These are the hardest to use for scam purposes. And anyone with the sophistication to counterfeit these would likely be going for a tangible item, i.e. merchandise, vehicle, electronics.

    Nigerian scammers are so successful with money order and bank issued cashiers checks because many of those institutions are corrupted.
     
    Last edited: May 9, 2012
  10. ampaholic

    ampaholic TUG Member

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    Ride - just because it's your logic doesn't make it the same logic. :rolleyes:
     
  11. DeniseM

    DeniseM Moderator

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    Ride - you DID twist my words - don't do it again.

    Your argument is too silly to even respond to...
     
  12. vacationhopeful

    vacationhopeful TUG Review Crew: Rookie TUG Member

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    I like US Postal Money Orders and go directly to my local Post Office to cash them for free. If their computer says it is GOOD and they have cash in the clerk's drawer, I get the cash. SIMPLE and DONE.

    I also have used USPO Money Orders as a means to carry cash in the US. I leave the receipt side home, photo copy it to carry with me, and cash the money orders as needed in either a branch of my bank or at a post office.
     
  13. Beefnot

    Beefnot TUG Member

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    But Ride does make a valid point. Conceptually, there is not much logical difference between deliberately deciding to default on your TS and one's willingness to "default" with Paypal if it becomes in their best interest.
     
  14. Beefnot

    Beefnot TUG Member

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    Or else...what? I don't find the argument too silly to respond to. It is a legitimate counterpoint. What is your counterargument?
     
  15. siesta

    siesta TUG Member

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    indeed, big US institutions are the safest bet when accepting funds through a medium.
     
  16. ampaholic

    ampaholic TUG Member

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    I think Ride is very lucky he is not taking a week off after twisting Denise's words - he needs to use his own words if he has something to say.

    Disagreeing with PayPal's policy is not the same as defaulting on your MF's.

    I think Denise was trying to say she wanted to hold the rental payment and decide it's eventual recipient rather than letting PayPal just willy nilly run rampant over what she sees as her rights.
     
  17. DeniseM

    DeniseM Moderator

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    1) This thread has NOTHING to do with defaulting on your timeshare.

    2) Ride brings this up every 2 or 3 months - I have already responded to him endless times.

    His most entertaining argument so far was that owning a timeshare will bankrupt you, and your children would inevitably end up on the street doing drugs and committing crimes.

    Hard to understand why he keeps buying more timeshares! His poor little girl! :D

    3) Argue with him all you want - I have given up on having "logical" discussions with him
     
    Last edited: May 9, 2012
  18. Beefnot

    Beefnot TUG Member

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    Ooh Denise, that's low, bringing family into it. And children to boot.

    Ride, I hear you and see your points, but let's not get this thread closed.
     
  19. DeniseM

    DeniseM Moderator

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    I'm not making that up - that really WAS his argument!
     
  20. Beefnot

    Beefnot TUG Member

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    I went to this little school fair thing this past weekend and they took squareup to pay for food/activity tickets. She had this little dongle plugged into her iphone and swiped my card. Pretty cool. I imagine that they can do it too without the physical card, so this may be a decent option if you want to boycott PayPal.

    As for disputes, since Squareup is just a conduit, wouldn't disputes be handled directly with the credit card company rather than with Squareup? Would that make it any more or less difficult?

    And FYI, on the squareup site, it has this video showing how you can also pay for things at retail shops without needing to pull out your ID or credit card. But I think you need an android phone or iphone.
     
    Last edited: May 9, 2012
  21. am1

    am1 TUG Member

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    Anyone can disagree with a companies policy but then they should not use that business. When using paypal the seller is not the one who decides if money should be refunded or not. That is stated up front. When a person disputes with a credit card paypal is not the one that decides or not.

    A lot of Ride's comments are a waste but what he brings up here has some merit.
     
  22. iluvmn

    iluvmn TUG Member

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    How I get paid

    I ask for funds to be sent friends and family or gift way through pay pal so there is no fee. No use of credit card etc. the party renting sends real funds and I immediately withdraw the funds.
     
  23. exyeh

    exyeh TUG Member

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    Quote:

    "I ask for funds to be sent friends and family or gift way through pay pal so there is no fee. No use of credit card etc. the party renting sends real funds and I immediately withdraw the funds."

    Does this against paypal policy when the parties are trading actually?
     
  24. MOXJO7282

    MOXJO7282 Tug Review Crew: Rookie TUG Member

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    I have no problem with personal checks mainly because all my weeks rent 4 - 12 months out so if the check is phony it will bounce way before check-in.

    In the past I encouraged and paid for Paypal because I was nervous the deal would fall through but stopped after I realized I could always find a renter.

    7 out of 10 times people pay in full with not even questioning. Just rented a GO and renter had no problem paying in full. Paypal would have cost me almost $60 so I'm happy to avoid those fees.
     
  25. NWL

    NWL TUG Member

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    Same here. $100 deposit through Paypal (that fee is manageable) and balance paid by personal check within 10 days of renter receiving and confirming their reservation. The only times I have used Paypal for both transactions was this year. All my renters came from Canada and were close to the check in dates. Knowing how slow mail delivery is between the U.S. and Canada, I opted to eat the Paypal fees in exchange for a smooth transaction.
     

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