How do I protect myself renting on Craig’s List?

[AK10R]

Hi all,

I found a person advertising a time share rental on Craig’s List for a 2 bedroom at the Wyndham Waikiki. The first time I emailed him about 2-3 weeks ago, he emailed me a higher price than I would pay. He has posted many times on Craig’s list and this last time he added “hot deal” so I emailed him again. He replied to me with a price I am willing to pay. I just emailed him back that I accept his offer for the 12 nights.

Now, what steps do I take to protect myself and insuring that I do not show up in Hawaii and have no room?

Is there a service available that will hold the money or most of it until I get the room?

Is using paypal a safe way and can it be contested for a refund if there is fraud?

Thanks Rich

 

[theo]

My $0.02 worth...

Re: >> what steps do I take to protect myself and insuring that I do not show up in Hawaii and have no room?<<

You should have a formal, hard copy, signed rental agreement identifying all details of the transaction, including complete identification of the owner, unit, dates, etc. You should also FIRST confirm directly with the resort, before parting with any money, that this individual is indeed the owner of that unit / time and therefore has a legal right to be renting to you at all in the first place. Don't get caught up in someone trying to rent you time which they have obtained via "exchange" with II or RCI; any such rentals are clearly prohibited by both exchange companies).
==============================================

Re: >> Is there a service available that will hold the money or most of it until I get the room?<<

There are third party escrow services available (for $100-$150) for this very purpose but some owners are reluctant to accept their use, since the owner(s) won't actually see any money until weeks after the rental has actually been completed. Some owners balk at that particular prospect.
===============================================

Re: >> Is using paypal a safe way and can it be contested for a refund if there is fraud? <<

You will find assorted owners here who rent out their timeshares and who happily and routinely sing the praises of PayPal (...no surprise there, since PayPal guarantees them immediate receipt of payment). However, from a renter perspective, keep it in mind that PayPal does not provide any meaningful protection in any "non-tangibles" transaction (and yes, a rental is indeed a "non-tangibles" transaction). This is not to say that PayPal is evil or unacceptable, but (in my opinion, anyhow) it's a payment avenue with "protection" odds stacked heavily in favor of the recipient of the funds when the transaction involves "non-tangible items". In the event of a dispute, as the renter you'd get no help, intervention or support whatsoever from PayPal, but would instead have to "make your case" to your own credit card issuer.

In any event, make very certain that there is a formal, written, signed rental agreement specifiying all owner details, dates, unit and a very clearly expressed cancellation / refund policy. Confirm the legitimacy of the owner to your satisfaction and comfort level BEFORE ever parting with a dime.

Just my personal opinion....

 

[alwysonvac]

,
Is there a service available that will hold the money or most of it until I get the room?

Vacation Rental Escrow Service - http://www.redweek.com/resources/rental_process/escrow/

 

[richardm]

Vacation Rental Escrow Service - http://www.redweek.com/resources/rental_process/escrow/

Just to clarify, the link above is actually to an escrow product of First American Title Insurance, not a service of RedWeek. The way it shows may give the impression that redweek is the escrow agent. The actual link is https://vacationfirst.firstam.com/open_order/rental_agreement/rental_agreement.aspx

Many timeshare closing agents offer some type of rental escrow service.