[ 2007 ] SVO Rental Thread

[LisaRex]

I just rented my 2 bdm. at WKORV for 2011, too!

Can you divulge how much and where you posted it? Also, did you use the Rental Agreement here on Tug? I'm not having much success with my direct exchange request. Many people are interested in exchanging, but none are offering up where I want to go.

 

[DeniseM]

I got $3,500

I had it advertised on TUG, Redweek, and CL - but I'm not sure where they saw my Ad - I will ask.

I think the thing that helps me rent more than anything else is my webpage. I have had my page up since 2005 and I have lots of info. and renter recommendations there, and I think it makes people feel safe about renting from me.

I don't use a contract, unless the renter asks for one - no one ever asks. I ask for a $100 deposit to put the reservation in their name, send them a confirmation from the resort in their name, and then they pay the balance in full. So far, everyone is happy with that and I do 3-5 rentals a year.

 

[DeniseM]

BTW - I checked and this was rented from my Craigslist Ad.

 

[DavidnRobin]

BTW - I checked and this was rented from my Craigslist Ad.

Every time I have used CL - I get nothing but scammers and spam - plus the hassle of trying to keep the ad updated or different enough not to get flagged for posting at multiple locations. What is your secret?

 

[okwiater]

I successfully rented out a week on eBay a couple of months ago for a week about 6 months out.

 

[DeniseM]

Every time I have used CL - I get nothing but scammers and spam - plus the hassle of trying to keep the ad updated or different enough not to get flagged for posting at multiple locations. What is your secret?

I create two different Ads and every 3 days I deleted one and respost the other. If you create an online Acct. with CL, your old Ads are in your Acct. and can be reposted at any time - you don't have to rewrite the Ad each time.

My Ad takes them to my website where I have lots of pictures and info., which I think really helps.

I get spam and scammers, too, but they are painfully obvious. Since I only accept Paypal, that weeds out most of them.

 

[DavidnRobin]

Thanks - perhaps I will try this approach again - as well as get a website up (finally)...

and... OH YEAH! My 4000th post is of course in your honor...

 

[DeniseM]

Thanks - perhaps I will try this approach again - as well as get a website up (finally)...

and... OH YEAH! My 4000th post is of course in your honor...

WOW! Congrats Dave!

 

[Henry M.]

Most of my WKORV/WKORVN rentals have been through Craigslist too. Lately I've gotten a few referrals from previous renters who asked for units unsolicited. I tried TUG once but never got any bites. I haven't used other sites.

Craigslist does have its share of scammers, but as Denise pointed out, they are pretty obvious. Some don't even mention what it is they want to get, just that they want to send you lots of money to cover expenses or get you to unlist your item. They want to send you more than you asked for and then get money back, and things like that. It's not hard to tell wheat from the chaff. If it is not a straightforward deal that they want the unit on a fixed future date, with immediate payment, then just pass. I don't get many scammers so the effectiveness of finding renters far outweighs the potential for a scam.

I do the same as Denise in terms of payment. I use Paypal for the deposit and accept a check for the rest to avoid Paypal fees. So far the rentals have been so far in advance that the check will clear long before the arrival date. I usually rent more than 60 days in advance so my Staroptions don't become restricted.

Not once have I rented the week I had reserved, even July 4th and such. Every time the renter has wanted some other random week, often in shoulder season, just before or just after the summer, or in the early part of the year. I don't worry about trying to reserve the best possible week in terms of resort demand. I just let the renter choose what they want and check if it is available. I think high demand weeks also mean high airfare costs so renters typically pick other times to go.

 

[DavidnRobin]

Just rented the studio-side of our OFD WKORV (4th July week 2011 - reserved at 12 months) - $1850 - RedWeek - PayPal - no hassles
woohoo...

 

[DavidnRobin]

delete - duplicate post

 

[schubes]

Help Rental Question

I am renting from an owner at SDO. He requires no contract, but he is asking for the entire amount now since it is less than 6 months out. He requires cash (check) sent to his P.O. Box and will change the name on the reservation upon receipt.

He emailed me a copy of his reservation confirmation so I know he has a reservation at his home resort for the unit and time frame we negotiated.

It appears that he has other timeshare units that he owns at other resorts and has those listed as well on Redweek.

Will the emails back and forth along with the canceled check suffice for proof of transaction? What do you all think?

 

[DanCali]

I am renting from an owner at SDO. He requires no contract, but he is asking for the entire amount now since it is less than 6 months out. He requires cash (check) sent to his P.O. Box and will change the name on the reservation upon receipt.

He emailed me a copy of his reservation confirmation so I know he has a reservation at his home resort for the unit and time frame we negotiated.

It appears that he has other timeshare units that he owns at other resorts and has those listed as well on Redweek.

Will the emails back and forth along with the canceled check suffice for proof of transaction? What do you all think?

This sounds somewhat suspicious to me.

I've done a couple of rentals myself and have never requested all the money upfront even though one was less than 3 months out. I take a 50% deposit if it's less than 4 months out (20% deposit if more). I require the balance 1-2 after I change the name on the reservation. I figure, worst case is that they don't pay the balance, I keep the deposit, and rent it for half price quickly - but if someone paid 50%, they will pay the rest...

I also take money via Paypal which, even if you think Paypal gives just limited protection, at least allows the renter to dispute the charge with their credit card company. Yes, Paypal charges me 3%, but that's the cost of doing business.

Plus, I do require a contract that is fair and protects both sides (nobody ever asked me to change any of the terms)

I realize everyone has their own ideas of how things should be done but no contract and sending a check to a P.O. Box seems quite unusual. It leaves you with almost zero recourse if something goes wrong.

 

[klatkiew]

agree with DanCali! The PO Box is the part the bothers me.

I've never had a problem with renters but i always use a very simple contract, ask for a deposit up front, and prompt payment of the balance once they confirm the reservation is in their name. I have used paypal but my most recent renter wanted to send me a personal check - we spoke on the phone and traded some personal info so i felt pretty comfortable with the transaction. I waited for the check to clear before i changed the reservations.

If you feel uncomfortable with this transaction - get on the phone with the person and see if you can work it out - if it doesn't feel right - don't do it. it's not worth it.

 

[DeniseM]

Besides the P.O. Box, it doesn't sound suspicious to me - I ALWAYS require full payment upfront.

More info. - How to make sure a rental is Legit.

 

[Ken555]

Having a PO Box may be a sign to be cautious, but it's not unusual. I use a PO Box for my business transactions daily, though we also have a street address if absolutely necessary (specifically for FedEx & UPS deliveries). A PO Box is a legitimate method of sending mail via the USPS. IMO, it doesn't matter where you send the check to as much as knowledge of who you're sending it to... There are a number of risk factors to consider when renting from an individual, and this is just one of them.

 

[okwiater]

I am renting from an owner at SDO. He requires no contract, but he is asking for the entire amount now since it is less than 6 months out. He requires cash (check) sent to his P.O. Box and will change the name on the reservation upon receipt.

He emailed me a copy of his reservation confirmation so I know he has a reservation at his home resort for the unit and time frame we negotiated.

It appears that he has other timeshare units that he owns at other resorts and has those listed as well on Redweek.

Will the emails back and forth along with the canceled check suffice for proof of transaction? What do you all think?

If you are uncomfortable, tell the owner that you would like to rent the unit but that you are a little hesitant to send all of the money up front. If you explain that you'd like to propose an alternate solution that is fair to both sides, I'm sure he/she will accommodate. For instance, you could propose paying by Paypal and offer to cover the fee, or you could propose the 50% now, 50% upon changing the reservation option. Figure out what makes you feel good about the transaction, and if the owner is legit I'm sure they'll work with you.

 

[schubes]

Thanks all. Every comment and suggestion are the same ones I have been going over in my mind.

I was thinking about sending 2 checks, one post dated to Jan.1, but some banks just deposit anything handed to them.

I am going to phone him. I cannot find any info on him even using his phone number in a google search.

Deep down I believe he is legit. It is just a weird request with no assurances on either end.

 

[DanCali]

Thanks all. Every comment and suggestion are the same ones I have been going over in my mind.

I was thinking about sending 2 checks, one post dated to Jan.1, but some banks just deposit anything handed to them.

I am going to phone him. I cannot find any info on him even using his phone number in a google search.

Deep down I believe he is legit. It is just a weird request with no assurances on either end.

Sending a check prior to him changing the name and then sending the balance is a pretty cosmetic thing. Ultimately the owner controls the reservation and if he has bad intentions he can always change the name back after receiving full payment. This is where having a contract and the ability to dispute a charge with either Paypal or a credit card company help.

 

[DavidnRobin]

excellent use of this rental thread...

The person who is doing the renting (renter) is certainly more at risk of money scams than the owner, but the owner also has some risk to money scams. See this post:
http://www.tugbbs.com/forums/showthread.php?t=134998

The problem here was the tight turnaround time (17 days) between the owner and the renter - where the renter apparently used a stolen credit card via PayPal, and by the time the owner found out (via PayPal) - the scamming renter has already checked-in. PayPal is now asking the owner to reimburse PayPal. Interesting issue - since it was actually PayPal that accepted the stolen credit card and not the owner. I was surprised that it would take 17 days for PayPal to realize that the credit card charge was fake. Plus - the owner wasn't actually the owner, but renting an exchange - this can also lead to difficulties.

This owner could have protected themselves by not allowing a credit card to be used in a short turnaround transaction (btw, fraudulent checks and fake money orders also have the same riskes). Also, the owner allowed the renter to pay via PayPal using another name. Also in this case - the owner was afraid that the scamming renter would charge to the room, and they would be on the hook - but that seemed odd to me since it is the person at check-in is required to put up a credit card. It would be pretty risky on the scammers part to use a fake credit card.

As mentioned - for a rental further out in time - the owner has control of the name on the reservation. So if an owner is scammed by false money - they can remove the renters' name from the reservation.

Overall - as an owner it is wise to protect yourself with a rental agreement - make sure the money is cleared before the renter takes possession - do not accept money from someone who is not on the reservation - talk to the person on the phone to gauge their intent - and for me - I would not allow a PO Box to be used.

I do try and put the renter (sine they are the ones putting out the money) at ease by being open and accessible with them (as well as a rental agreement, etc.) - and tell them about TUG and my participation on the forum since it is unlikely that someone who has been contributing (#posts/#years) would be scamming them.

Regardless - both sides have some risk

 

[RLG]

I ALWAYS require full payment upfront.

[/B]

I agree.

I also always require full payment because:

1) I want to know for sure whether it's rented or not.
2) I don't want the extra work of needing to remember to chase a renter for the rest of the funds near the checkin date.

I take payment by paypal and that enables renters to check out how long I've been a paypal user and how many people have paid me in the past.

 

[abdibile]

I take payment by paypal and that enables renters to check out how long I've been a paypal user and how many people have paid me in the past.

I also require full payment via Paypal and everyone I rented to was happy with that after I explained the process and they could dispute credit card charge.

How can a renter see (or I show him) how long I am payPal member and how many people have paid me through paypal?

 

[RLG]

How can a renter see (or I show him) how long I am payPal member and how many people have paid me through paypal?

Before you commit to sending a payment, you'll see a number next to the email of the recipient. If you click on the number you'll get this info.

 

[Robert D]

I try to get full payment upfront but am willing to take half when I receive the booking and the balance 60 days before check in. I don't put the reservation into the renter's name or change the reservation date to the date the renter needs ( if a change is required) until I get 50% of the rent. If check-in is within 60 days, then I require full payment at time of booking.

I think that if check-in is 6 months from now, 50% now and the balance around 60 days before check in should be acceptable. I would insist on paying with a credit card so that you have some recourse if it heads south. When you receive a copy of the reservation in your name, I'd call the resort and confirm the reservation dates and names, and call them again once a month (and again before making the final payment) to be sure nothing has changed. I'd call again right before leaving on your trip. As you can tell, I like to be very cautious. When I'm renting a unit I always give the renter my street address and phone number and am willing to do anything within reason (including a conference call with the resort to confirm I own the week and the reservation exists) to make them comfortable.

One thing I've never done is have a written contract or gotten a security deposit. The resorts I rent (including SDO) require a credit card imprint upon check in. However, my rental listings disclose the terms of the listing and I confirm this again via email with the renter, which I think acts as a contract.

 

[schubes]

Update:

I spoke to the owner on the phone. The P.O. box was explained satisfactorily and he agreed to 1/2 of the fee immediately (check only) and the other half upon changing the name on the reservation.

When I receive the updated reservation in my name, I will do as suggested and call SVN each month to check on the reservation.

The owner has several properties and is very laid back. He says he used to do contracts, but in recent years has discontinued and has never had any issue with a renter especially since they must use a credit card at check in which holds the renter responsible at the property.

Right now I feel comfortable with the arrangements. Hopefully I won't have to use that "smilies" icon with the hammer hitting the monitor next month.