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[2012] First Issue Renting my Timeshares

Brerrabbit

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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.....
 

DeniseM

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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.....

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.
 
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marty77

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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!
 

ampaholic

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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Paper, such as a check or promissory note, to receive payment on it from anyone who has signed it if the individual who originally made it is unable, or refuses, to tender payment.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 ...
 

marty77

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


Amen, brother!
 

siesta

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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.
 
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DeniseM

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

Ridewithme38

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Your argument is that I should pay a scammer, to keep the fees down. Let's do the math:

My average timeshare rental is $1,550.

Let's say a scammer rips me off, I give Paypay the money, and I lose $1,550 on the rental.

Or let's say I refuse, and Paypal raises their fee from 2.9% to 3%.

That means the fees on a $1,550 rental increase by $2.50

I would have to rent 620 weeks at $1,550 each, before the increased fee would equal my $1,550 loss.

Or let's say I get on the naughty-naughty list and they raise my fees a full percent to 3.9% That means I would have to rent 94 timeshares at $1,550, before the increased fee would equal my $1,550 loss.

So it makes no sense to me to worry about increases in the fees, if you are losing hundreds of dollars at a time, to keep the fees down!

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
 
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siesta

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

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

DeniseM

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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

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

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

vacationhopeful

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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.

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.
 

Beefnot

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

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.
 

Beefnot

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

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

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

siesta

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

ampaholic

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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.
 

DeniseM

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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?

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
 
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Beefnot

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

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.
 

DeniseM

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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.

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

Beefnot

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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.

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.
 
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am1

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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.

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.
 

iluvmn

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How I get paid

So I rented my 4th of July week at the sheraton Broadway Plantation resort over a month ago. I had the renter sign my rental agreement which included a statement that the rental fee was non-refundable as long as the rental unit was available to the renter. I also restated this in my email to the renter and stated that they may want to get rental insurance as added protection (I use a paragraph I copied from Denise here on Tug on the subject). The renter paid 50% of the rental fee via PayPal and was to pay the balance 45 days prior to the rental.

About 2 weeks ago the renter emailed me saying that her husband just got a job after being unemployed so they could no longer use the unit (I guess he did not want to take a vacation soon after being on the new job or had to work that week). I reminded the renter of the terms of our rental agreement but told her I would give it some thought and get back with her. I also told her that if I was able to rent the unit to someone else I would definitely return her deposit.

Well, the day after I responded to the renter I received an email from PayPal stating that the renter had notified her credit card company that I had not performed to the agreement and she wanted her money back! PayPal stated that they were putting a hold on the funds until it was resolved. They stated that the credit card company would be the one who made the decision. They asked me for my side of the story.

PayPal has a Dispute Resolution section where I was to provide my inputs. I attached a copy of my signed rental agreement with the renter as well as the emails we had sent each other. This information clearly showns (to me) that the renter has no legal standing to get her money back.

After 2 weeks the funds are still on hold and the dispute is still being looked at by the renter's credit card company and by PayPal. Seems to be a long time for what I consider an "open and shut" case.

Has anyone else had this happen to them?:shrug:

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.
 

exyeh

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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?
 

MOXJO7282

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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.
 

NWL

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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.

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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