TUG MEMBERS: Joining TUG does not automatically register you as a user of the TUG Bulletin Board. You must register yourself.


*ads are disabled when logged in as a member*
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 25 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
    Dismiss Notice
  3. TUG has now saved timeshare owners more than $12,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $12Million dollars
    Dismiss Notice
  4. Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
    Dismiss Notice
  5. TUG is trying out a new program that will trade you a TUG membership for a Timeshare resort review if you are an expired member, or even just a guest here on the forums!

    Read more here
    Dismiss Notice
  6. Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
    Dismiss Notice
  7. Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
    Dismiss Notice
  8. TUG has now joined Priceline.com as an affiliate!

    Members and guests who book air travel, rental cars and even Cruise Vacations thru TUG's priceline links will now support TUG in the process!

    Read more here
  9. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice

Redweek located a renter, and I must act immediately

Discussion in 'Buying, Selling & Renting Timeshares' started by vicky464, Oct 24, 2018.

Tags:
  1. vicky464

    vicky464 Guest

    Joined:
    Oct 1, 2012
    Messages:
    15
    Likes Received:
    0
    Trophy Points:
    61
    Location:
    Congers, NY
    I've rented units on Redweek before but this is the first time i am having this issue. I posted an ad, immediately received a reply from a renter that they were interested. Next day I have a message from Redweek that they found a renter for the full amount (Same guy). If I want to secure the rental, I need to act immediately. Which raised my suspicion. I contacted Redweek, and checked my messages on the website, which seemed legit. The customer service person didnt answer my direct concern about being worried about scam. Instead they said"if you want to cancel the rental, you can"

    It seems like the renter began an agreement, and put the money in escrow. I am not comfortable with their policy of "payment is released AFTER the rental, and as long as there are no compliants" I cant help it if the guy doesnt like the color of the timeshare, or the weather sucks.

    Anyone ever have this happen? What would you do?
     
  2. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

    Joined:
    Dec 19, 2008
    Messages:
    11,136
    Likes Received:
    1,239
    Trophy Points:
    498
    Location:
    Maryland
    Resorts Owned:
    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    It sounds like you did a full service rental through Redweek. On top of all that you paid more upfront plus you will owe a flat commission of $99 out of the rental payment. If you didn't want those terms than don't contract for the full service listing.

    If you didn't contract for the full service rental than it sounds odd that the renter opened an escrow for the rental without verifying everything with you.
     
    theo likes this.
  3. chapjim

    chapjim TUG Member

    Joined:
    Jan 10, 2010
    Messages:
    2,680
    Likes Received:
    874
    Trophy Points:
    249
    Location:
    Fairfax County, Virginia
    Resorts Owned:
    Wyndham PresRes, Quarter House (4), Resort on Cocoa Beach (4), some others.
    There has been a lot of discussion here on TUG about RedWeek.com's "full service" rentals and the terms of RedWeek.com's escrow service.

    The consensus is that both are highly skewed in favor of renters to the detriment of owners. And "full service" isn't what it sounds like.
     
    1st Class and grab like this.
  4. vicky464

    vicky464 Guest

    Joined:
    Oct 1, 2012
    Messages:
    15
    Likes Received:
    0
    Trophy Points:
    61
    Location:
    Congers, NY
    This is the crazy part, I didnt pay for full-service, but there is a setting on my account that was turned on which gives that option. I paid 14.95 for "verified" service. My only real concern is waiting until after the rental to get paid.

    Thanks for the replies.
     
  5. chapjim

    chapjim TUG Member

    Joined:
    Jan 10, 2010
    Messages:
    2,680
    Likes Received:
    874
    Trophy Points:
    249
    Location:
    Fairfax County, Virginia
    Resorts Owned:
    Wyndham PresRes, Quarter House (4), Resort on Cocoa Beach (4), some others.
    Timing of payment is the real bugaboo with RedWeek.com's escrow service. It's the difference between when payment is earned and when it is received.

    My responsibility to a renter is to get him/her checked in to the resort in a unit that is as described in my listing. If I do that, I have earned my rental payment (and have a right to keep it) and I don't want it subject to things out of my control that might be merely displeasing to the renter.
     
    Last edited: Oct 25, 2018
    jehb2, vicky464, 1st Class and 2 others like this.
  6. theo

    theo TUG Review Crew: Veteran TUG Member

    Joined:
    Mar 21, 2007
    Messages:
    8,417
    Likes Received:
    1,280
    Trophy Points:
    448
    Location:
    New England Coast
    You could not / would not ever be contacted directly by the tenant at all in a full service listing, since the point of contact for such listings is only RedWeek itself, not the owner.

    If this was not a full service listing, then the tenant-to-be has no right or option to independently initiate "escrow" without your knowledge and agreement.

    I'm admittedly confused; was this perhaps a Redweek "verified and protected" listing (which is distinctly different from a "full service" listing)? If that's the case, then the renter provides credit card info to RedWeek (it's not literally escrow, per se) and RedWeek issues payment to the owner after tenant check-in, but before completion of the rental.

    You can opt to be "verified" (essentially just confirmation of your ownership legitimacy) without agreeing to the "protected" portion, which is eminently "protective" of the tenant but not of you, the owner. One credit card "dispute" and your receipt of rental payment gets delayed --- indefinitely.
     
    Last edited: Oct 25, 2018
  7. bendadin

    bendadin TUG Member

    Joined:
    Mar 26, 2016
    Messages:
    1,185
    Likes Received:
    264
    Trophy Points:
    143
    Location:
    Virginia
    I had a verified listing and the exact same thing happened to me. It certainly was easy but I'm not exactly a fan of waiting six months for payment.
     
  8. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    21,302
    Likes Received:
    1,172
    Trophy Points:
    549
    Location:
    The Centennial State
    Resorts Owned:
    Wyndham Plat,RCI pts,Shell,WorldMark,OKW,SSR pts; Marriott's Willow Ridge;Val Chatelle; Hono Koa; SBP; Blue Ridge Village.
    The escrow service is a total waste of money. I wouldn't accept that rental under any circumstances with the escrow in place.

    I once rented my Gardens of West Maui week with Redweek, and the renter insisted on the escrow. I contacted First American Title two weeks after the rental was over and told them I never got paid. They finally did pay, but I could see someone just counting on things going as they should and not really watching for that payment to come through.
     
    jehb2 likes this.
  9. MOXJO7282

    MOXJO7282 Tug Review Crew: Rookie TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    4,855
    Likes Received:
    529
    Trophy Points:
    349
    I usually offer 2 payment plans and very few even bring up escrow so under most circumstances I would definitely say no , but under some circumstances perhaps you need to consider.

    If it is a high demand unit I would act immediately and say "thanks but no thanks" because you'll find someone else who will have no problem paying upfront or maybe under some reasonable payment plan. If it's not a high demand or you feel another buyer might be hard to come by for what ever reason then you might need to consider the escrow.

    My payment plans are a 60% deposit and balance due 90 days before check-in or I offer a discount for full payment upfront. I know some demand full payment upfront but I feel that probably reduces your possible interested clientele because in my experience some people would rather pay more than pay all upfront. When I do offer the discount on the full it is usually taken so I'm not usually waiting for funds but they way I set it up is if I don't get that final payment a new rental ad goes up and I seek to recoup my losses and if I have any left over it would go to the defaulted renter. 90 days is plenty to re-rent a high demand Marriott.

    I only had to resort to that twice, once the person immediately paid up in full when I told him the ad was up again and the other person just couldn't go so I ended up re-renting and getting all but $200 back for the person who was lucky I'm an honest guy because they didn't know of the other deal and I could've kept everything if i wanted to but I gave them the full amount they paid minus the $200, and I did keep the ad fees because that was part of it being made whole.
     
    CalGalTraveler and mla like this.
  10. brianfox

    brianfox TUG Member

    Joined:
    Apr 14, 2007
    Messages:
    685
    Likes Received:
    349
    Trophy Points:
    273
    Location:
    Thousand Oaks
    Resorts Owned:
    Marriott Ko Olina x2
    Marriott Waiohai x3
    In my opinion, Redweek escrow has one thing going for it for the owner - it allows the renter to pay using a credit card.
    There are those who want to get the credit card points for a large purchase, even though they are going to pay a service fee to use it.
    There are also those who think they are going to be protected by their credit card company in case something goes wrong, not realizing they have a pretty short time limit for that protection.

    Granted, it's a pain for the owner to not get paid until after the vacation is completed, but the perks for the renter can get you a customer sooner.
     
  11. vicky464

    vicky464 Guest

    Joined:
    Oct 1, 2012
    Messages:
    15
    Likes Received:
    0
    Trophy Points:
    61
    Location:
    Congers, NY
    Thanks for raising these points. You are right, it was probably not a full service listing. I paid an additional $14.95 for Redweek to verify. I sent a copy of my registration and immediately after it was confirmed by Redweek I got an email from an interested party. Next day I had a message from Redweek that they had a buyer. The fact that they wanted me to "Act immediately" had me very concerned, so I started corresponding with Redweek's Customer Service, which was a waste of time. Her replies were so vague I really started to think I was being scammed! It turns out there is a little switch that was turned on in my account settings that allows Redweek payments. This is probably equivilent to "protected". I wasnt charged for it, so I am not sure why they are offering this option.

    All in all it is easier to allow Redweek to handle the paperwork, and waiting for the payment is inconvenient but not a dealbreaker.

    THanks everyone for your input on this.
     
  12. theo

    theo TUG Review Crew: Veteran TUG Member

    Joined:
    Mar 21, 2007
    Messages:
    8,417
    Likes Received:
    1,280
    Trophy Points:
    448
    Location:
    New England Coast
    The additional $14.95 is for "verified and protected". You have to overtly opt out of the "protected" (i.e., tenant protective) part of that combo, unless you are comfortable with your tenant-to-be using a credit card for payment to RedWeek. I personally will not entertain that (later disputable, even if for a contrived, completely bogus reason) credit card payment in my (admittedly infrequent) rentals, but to each their own. YMMV.

    RedWeek is a good site on which to advertise, but once the RedWeek "service" personnel and features enter into the picture, all bets are off in my personal opinion and limited experience. Too many cooks just plain spoil the soup.
     
    Last edited: Oct 26, 2018
  13. brianfox

    brianfox TUG Member

    Joined:
    Apr 14, 2007
    Messages:
    685
    Likes Received:
    349
    Trophy Points:
    273
    Location:
    Thousand Oaks
    Resorts Owned:
    Marriott Ko Olina x2
    Marriott Waiohai x3
    To the OP, the owner of Redweek has an account on TUG (username is mla). He has been very responsive and positive on this forum. You may want to try to PM him.
     
  14. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    21,302
    Likes Received:
    1,172
    Trophy Points:
    549
    Location:
    The Centennial State
    Resorts Owned:
    Wyndham Plat,RCI pts,Shell,WorldMark,OKW,SSR pts; Marriott's Willow Ridge;Val Chatelle; Hono Koa; SBP; Blue Ridge Village.
    I had no idea. Thanks for letting us know. That is great information. I don't know if I will remember it, :) but great info. I always wondered if Redweek even knew about TUG.
     
  15. tink10

    tink10 TUG Member

    Joined:
    Jan 14, 2011
    Messages:
    14
    Likes Received:
    2
    Trophy Points:
    113
    Hello!

    I'm the Customer Service Manager for RedWeek and I just wanted to let you all know that we're well aware of Tug and monitor it regularly. MLA is here, but I am as well, so please feel free to reach out to me as well with any questions or concerns. :)

    To clarify Vicky464's concern, a material dispute basically means that the unit was different from what we verified in the posting. Those details would be the dates (of course), the unit size &/or sleeping capacity, the confirmed view, whether or not there's a kitchen and the number of bathrooms. Those are the points that are verified on every Full Service rental and RedWeek Verified rental and we verify them at the time that the posting is activated, as well as after the rental has been changed in to the guest's name.

    Being that these are relatively newer offerings for us, we've been learning and really look at the feedback that we receive to improve our services. Again, please don't hesitate to let us know if you ever have questions.

    I hope this helps!
     
  16. jehb2

    jehb2 TUG Member

    Joined:
    Nov 6, 2005
    Messages:
    1,509
    Likes Received:
    328
    Trophy Points:
    293
    Location:
    texas
    My first thought is that the person who contacted you is an broker or 3rd party agent. I recently rented a week and within 24 hours of posting the redweek ad I received a email asking me to send them my phone number so that they could contact me immediately. They said they wanted to rent my week immediately. I replied asking if they were renting for themselves or if they were brokers or agents. They did not respond.

    I often get responses from the same 3 agencies but from different people in that agencies. Apparently they cruise the reweek ads on a regular basis.

    i’ve had a very negative interactions with 2 of the agencies. They got pretty upset with me because I would’t use their service. They were legitimate and didn’t ask for up front fees. But there were reviews of them on redweek saying they were difficult to work with.
     
    Last edited: Oct 26, 2018
  17. mla

    mla TUG Member

    Joined:
    Jun 12, 2007
    Messages:
    34
    Likes Received:
    36
    Trophy Points:
    228
    Location:
    Portland
    Hello!

    Yes, sounds like that wording may need to change. We don't want to give off that impression. I'll review that alert email that goes out. But yes, we do require a response within, I think, two days. Otherwise we tell the renter the booking fell through -- we can't have them waiting too long to discover if they actually have their vacation booked or not.

    The rental agreement covers the terms and RedWeek acts as the arbiter. We wouldn't allow those sorts of complaints to affect anything.

    I appreciate the other comments in this thread. I know the delay in payment is a show-stopper for some folks and I'd love to have a good way to solve it. The problem is we cannot have the renter show up and not have their week available. Period. It cannot happen. We will cover the renters cost in that case. Which means we need to limit our downside. And until or unless we have sole control over the week, the owner is always able to call the resort and change the guest name out from under us.

    I know some people see that as protecting the renter too much, but I think we'll attract a much larger renter population if we can give them some of the same assurances they'd receive through other sites.

    We're also getting ready to offer travel insurance as part of the booking process, just FYI. I know folks may have mixed views on that too -- It can be a pain to make claims and the insurance policies always have so many exceptions, but we figured it could help protect both the renter and owner in certain cases.
     
    Last edited: Oct 26, 2018
    Egret1986 and klpca like this.
  18. mla

    mla TUG Member

    Joined:
    Jun 12, 2007
    Messages:
    34
    Likes Received:
    36
    Trophy Points:
    228
    Location:
    Portland
    I don't think that's what happened here, but we'd like to know more about what you received @jehb2 so we can boot that user. PM me or @tink10 with details and we'll take a look.
     
  19. WackyLucy

    WackyLucy Guest

    Joined:
    Dec 31, 2016
    Messages:
    113
    Likes Received:
    81
    Trophy Points:
    38
    Location:
    Massachusetts
    deleted accidental duplicate post...
     
    Last edited: Oct 27, 2018
  20. WackyLucy

    WackyLucy Guest

    Joined:
    Dec 31, 2016
    Messages:
    113
    Likes Received:
    81
    Trophy Points:
    38
    Location:
    Massachusetts
    I respect RedWeek's goal to try to look out for the interests of all parties involved in any RedWeek-involved rental transaction.

    I have no experience with renting out timeshare weeks and claim no expertise in that area. Still, one observation that comes immediately to mind is that credit card charges can always easily be disputed by the credit card owner. So, if RedWeek (or other middleman) accepts credit card as payment for a rental, it seems to me that the credit card holder can still always and very easily dispute any charges to their card anyhow, making the "arbiter" irrelevant to resolution of the dispute and immediately turning it into a matter only between tenant and owner. Am I wrong or missing something here?
     
    Last edited: Oct 28, 2018
    theo likes this.
  21. lockewong

    lockewong TUG Member

    Joined:
    Feb 19, 2015
    Messages:
    71
    Likes Received:
    72
    Trophy Points:
    78
    Location:
    San Francisco Bay Area
    Resorts Owned:
    Marriott Maui Ocean Club, Marriott Kauai Beach Club, HGVC Sea World, Bay Club, Tahoe Seasons
    I have used Redweek twice. Once, on a panic because I missed checking the school schedule and reserved a week in Maui but...the wrong week. I had to list the week I had reserved and then, hope for a renter. On the back end, I then paid another Redweek seller for the week I should have booked. Redweek told me I had to receive the money after the check-in. I was in no position to argue since I wanted the week rented. I was less confident and did not know how to handle the rental myself.

    The last instance, I had someone - a friend - decide that they did not want the week but told me very late in the game. About three month out from the week and I had reserved a not-completely high season time, so the week was desirable but not without competition, it rented at a reduced price because there were no takers. Redweek, under the full service contract, monitored the activity and the lack of activity and counseled me to reduce the price. Shortly after I reduced the price, as there were three similar properties, I was told there was a renter. On my end, I noticed the renter was living in the SF Bay Area. I contacted her and talked to her. It was going to be their first Hawaii vacation and they were thrilled that they could afford it. I was pretty sure it would be okay and I was not troubled by the payment after the week had been occupied. I was right and there were no hitches to the payment. I understand that I could get more money for my week, but the piece of mind and lack of having to do the paperwork was good for me.
     
    mla likes this.
  22. mla

    mla TUG Member

    Joined:
    Jun 12, 2007
    Messages:
    34
    Likes Received:
    36
    Trophy Points:
    228
    Location:
    Portland
    No, you're basically right. We charge the renter, so the dispute comes to us and we then challenge it.
     
  23. jehb2

    jehb2 TUG Member

    Joined:
    Nov 6, 2005
    Messages:
    1,509
    Likes Received:
    328
    Trophy Points:
    293
    Location:
    texas
    Someone here on tug rented a unit to a person. The woman paid and then backed out and wanted her money back even though she signed an contract saying no refunds. She disputed it with her credit card company and they reversed the charges even though the owner sent the credit card company a signed copy of the contract clearly stating no refunds. (The sad funny part was that she again changed her mind and later asked the owner if the week was still available.)
     
    Last edited: Oct 30, 2018
  24. theo

    theo TUG Review Crew: Veteran TUG Member

    Joined:
    Mar 21, 2007
    Messages:
    8,417
    Likes Received:
    1,280
    Trophy Points:
    448
    Location:
    New England Coast
    This in a nutshell describes the inherent danger of accepting credit card payment for rentals. Disputes (even if completely bogus) can even be initiated after a rental has actually been completed, even 30 or 60 days later (depending on card issuer policy). To each their own, of course, but I would never entertain allowing even the remote possibility of that ever happening to us. No thank you. YMMV.
     
    Last edited: Oct 30, 2018
    jehb2 likes this.
  25. icydog

    icydog TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    4,707
    Likes Received:
    256
    Trophy Points:
    318
    Location:
    Central NJ
    I would contact the renter and tell him or her that you do not rent your timeshares out using escrow companies. Offer references and a rental agreement and if that is not enough, then move on.
     

Share This Page