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Going to make offer to renter. What's fair?

Quilter

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In the VacationCandy thread I told about the communication I've had with a couple renters. There is a third whose reservation begins 4/4. Contract was made 2/12. Well within the news of the virus because I can go back to my doctor's blog for dates and this is what he posted on 1/26:
"Jan 26 2020
156
Coronavirus: What To Do
I am sure you are aware of the coronavirus infection that is causing concern around the world. A January 24, 2020 study in The Lancet reported the latest statistics. (1) The fatality rate (so far) from the corona infection is approaching 15%. That is not good news."


She delays replying to emails. I've sent them an offer to get another reservation to be completed by the end of the year. We had a phone conversation a couple nights ago and they said they'd get back to me within 24 hours. Silence.

Another timeshare renter told me he has had settlement with 1/2 refund.

My rental was well within competitive rates. Prime week at high demand resort.

They asked me what Marriott was offering. I told them about rebooking points with restrictions. We haven't discussed any kind of cash refund. Resort is still open. While getting there poses a problem their travel to and from was never part of the contract. Remember, the virus was already newsworthy at time of contract.

We've had to cancel 3 airline reservations due to either the deployment of troops in January or the virus. All cancellations have credits with date restrictions. If/when we make new reservations they will be at current market price.

Looking for thoughts on what's a fair % of cash offer.
 

CPNY

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In the VacationCandy thread I told about the communication I've had with a couple renters. There is a third whose reservation begins 4/4. Contract was made 2/12. Well within the news of the virus because I can go back to my doctor's blog for dates and this is what he posted on 1/26:
"Jan 26 2020
156
Coronavirus: What To Do
I am sure you are aware of the coronavirus infection that is causing concern around the world. A January 24, 2020 study in The Lancet reported the latest statistics. (1) The fatality rate (so far) from the corona infection is approaching 15%. That is not good news."


She delays replying to emails. I've sent them an offer to get another reservation to be completed by the end of the year. We had a phone conversation a couple nights ago and they said they'd get back to me within 24 hours. Silence.

Another timeshare renter told me he has had settlement with 1/2 refund.

My rental was well within competitive rates. Prime week at high demand resort.

They asked me what Marriott was offering. I told them about rebooking points with restrictions. We haven't discussed any kind of cash refund. Resort is still open. While getting there poses a problem their travel to and from was never part of the contract. Remember, the virus was already newsworthy at time of contract.

We've had to cancel 3 airline reservations due to either the deployment of troops in January or the virus. All cancellations have credits with date restrictions. If/when we make new reservations they will be at current market price.

Looking for thoughts on what's a fair % of cash offer.
Where did you make the rental? Privately or through Vacationcandy? When will get paid? Have you already been paid?
 

rickandcindy23

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Where did you make the rental? Privately or through Vacationcandy? When will get paid? Have you already been paid?
Vacation Candy searches rental sites and Craig's List and wherever they can to get weeks their clients want. Thus the name. Kind of like NTHC does. But their prices are higher, and they make profit on your rental. Great idea for a business. No cash outlay for MF's and lots of income. I rented a 5/30 week to a company like this (may be this company) and they offered less than my asking price. I took the offer. I think they are going to try to get out of it, but I had them agree to my no refunds contract. I am not refunding.
 

ocdb8r

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Looking for thoughts on what's a fair % of cash offer.

Why are you already considering a cash offer? It sounds like you've already offered to try to re-book and they haven't taken you up on it. I wouldn't proceed to offer them anything yet. Even if you do offer them something other than a rebooking this year, how about you offer a credit on a rental in 2021?
 

chapjim

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What I started out doing was deducting selling costs (Wyndham's guest confirmation, ebay final value fees, and PayPal's commission if they applied). I think that is fair and is easily explained to and understood by renters. They might not like it but they should understand your logic.

I finally abandoned that and gave 100% refunds. The largest single amount was on the Vacation Candy refund -- $200 selling costs. The others were much smaller.

I'm hoping it bought some good will. Except Vacation Candy. I'll not be dealing with them again.
 

CPNY

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What I started out doing was deducting selling costs (Wyndham's guest confirmation, ebay final value fees, and PayPal's commission if they applied). I think that is fair and is easily explained to and understood by renters. They might not like it but they should understand your logic.

I finally abandoned that and gave 100% refunds. The largest single amount was on the Vacation Candy refund -- $200 selling costs. The others were much smaller.

I'm hoping it bought some good will. Except Vacation Candy. I'll not be dealing with them again.
That’s how I felt with my rental. At first i was not wanting to cancel. This was beginning of march when things were bad yet. Glad I offered an alternative. I’m not sure I want to wait until August to actually deal with redweek again and what if this covid situation is still in their website to protect renters which is their sole priority. I’d rather offer the renter directly (i have his contact information) and offer lower price for direct payment now. If he declines or accepts and then refuses to rebook then i just bank the options like i want to do anyway.
 

Quilter

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Where did you make the rental? Privately or through Vacationcandy? When will get paid? Have you already been paid?


No, this particular rental was just through my Redweek ad. Just between me and renter.

However, on my VacationCandy rentals I have received the full rent. No contact yet.
 

chapjim

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That’s how I felt with my rental. At first i was not wanting to cancel. This was beginning of march when things were bad yet. Glad I offered an alternative. I’m not sure I want to wait until August to actually deal with redweek again and what if this covid situation is still in their website to protect renters which is their sole priority. I’d rather offer the renter directly (i have his contact information) and offer lower price for direct payment now. If he declines or accepts and then refuses to rebook then i just bank the options like i want to do anyway.

Will RedWeek.com be upset if you bypass them and go directly to the renter? Do you care?
 

Quilter

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Why are you already considering a cash offer? It sounds like you've already offered to try to re-book and they haven't taken you up on it. I wouldn't proceed to offer them anything yet. Even if you do offer them something other than a rebooking this year, how about you offer a credit on a rental in 2021?

The points in this reservation expire 12/31/20. At the most, I'm done with them then. I definitely don't want to be working with them for 2 years. They are proving to be too time consuming. They don't live in NYC/NJ but they are close. Will they get in the car and drive down? I have a feeling that's highly unlikely.

If I offer them a 65% refund on a no refund reservation is that fair? My complete offer to them would be:

Decide within 24 hours.

Choose an option:

1). 65% refund (Time, trouble and expense to secure a high demand reservation).
2). Ask for 10 possible rebooking dates to search for. Reservations requiring more points than currently used would be at $X per point. $X rebooking fee (I may waive if they're easy to deal with). Travel to be completed by 12/31/20.
3). Keep reservation. No further obligation even if resort closes before or mid-reservation.
 

CPNY

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Will RedWeek.com be upset if you bypass them and go directly to the renter? Do you care?
They wanted me to do that in the first place. They don’t need to know. All I have to do is tell redweek cancel it. If this continues or there is a resurgence it’s going to be the same thing again in August. I don’t think redweek will care, they will allow renters to back out for the next year or two due to fears of virus while traveling.
 

CPNY

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The points in this reservation expire 12/31/20. At the most, I'm done with them then. I definitely don't want to be working with them for 2 years. They are proving to be too time consuming. They don't live in NYC/NJ but they are close. Will they get in the car and drive down? I have a feeling that's highly unlikely.

If I offer them a 65% refund on a no refund reservation is that fair? My complete offer to them would be:

Decide within 24 hours.

Choose an option:

1). 65% refund (Time, trouble and expense to secure a high demand reservation).
2). Ask for 10 possible rebooking dates to search for. Reservations requiring more points than currently used would be at $X per point. $X rebooking fee (I may waive if they're easy to deal with). Travel to be completed by 12/31/20.
3). Keep reservation. No further obligation even if resort closes before or mid-reservation.
If you offered them money back and they haven’t responded that’s on them. I think we are in an unprecedented time and traveling somewhere that has every business I the area closed isn’t fair. I’d offer them to move the reservation to a later date based on your systems reservation rules etc. or you can take the hit and offer the refund and deal with it. Owners as a whole need to be a bit flexible in a time like this. If we ever want people booking units from owners in the future. It’s better to take the loss and move on or offer alternatives and work with the renter. I was in the same spot so I know what it’s like. It’s easier for me to say because I wasn’t due to get my money until after the reservation finished. If I had received the money and then had to come up with 3K now with everything happening it may have made things difficult.
 

Quilter

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I made offer of 3 options to my renter. 65% cash, replacement within the year or keep the reservation.

They paid via credit card through PayPal. I got email tonight that they are going to pursue trip insurance provided through credit card as she has medical condition and her doctor advises she shouldn’t travel.

I closed our PayPal account days ago.

Should that be the end of the story as far as I’m concerned?
 
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