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Koala fills a niche that others may not see quite yet, but I see it as a great alternative

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dioxide45

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DO NOT USE KOLOA IF YOU ARE CANADIAN

I rented an April week and getting paid has been an absolute gong show. Prior to getting set up, I had specifically asked if I could get my rental funds in USD since I have a USD account through my Canadian bank (and use it to pay all my maintenance fees). I was told no problem, as long as your account is US denomination, you'll get paid in that. Well, that definitely hasn't been the case. The Stripe account automatically converts the funds into CDN because I'm in Canada even though it's a US denomination account. You can't call Stripe and has no direct way to get live interaction other than through a public chat site where you definitely don't want to provide private banking information. Koloa has been brutal initially telling me the wrong information, then saying the banking information was wrong and directing me back to Stripe. I'm sure if I decided to accept the funds in CDN denomination we could get this resolved but I don't want to as I'll lose out on two currency exchange transactions. So if you're outside of the US, take note.
I suspect you were perhaps the test case for this. It sounds like an issue with Stripe and how they interact with Canadian bank accounts. Too bad about the bad information from KOALA. However, US denomination account doesn't mean it is a US based bank account at a US financial institution. The account is technically at a Canadian institution. So they convert to Canadian dollars then the bank converts it back to US$ for the US$ based account. Probably a lot easier just having it sent to a regular Canadian bank account and being paid in Canadian dollars.

I don't think this is a reason for Canadians to not rent through KOALA, but it is information that they should know going in.

Hopefully this is something that KOALA can get sorted out with Stripe. Stripe is a very large payment processor.

One thing I don't understand about US$ accounts at Canadian institutions. If you want to receive funds from a US bank through ACH, does the Canadian bank provide a US based routing and account number?
 
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djyamyam

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It sounds like an issue with Stripe and how they interact with Canadian bank accounts. Too bad about the bad information from KOALA. However, US denomination account doesn't mean it is a US based bank account at a US financial institution. The account is technically at a Canadian institution. So they convert to Canadian dollars then the bank converts it back to US$ for the US$ based account.

I had suspected this since the banking systems between the two countries are very different but I had never run into Stripe before and Koloa touted how how good Stripe was as their new financial payment partner. The issue is that Stripe is automatically converting the funds into CDN denomination and trying to deposit into a USD account. Because the currencies don't match, the bank rejects the transaction entirely. It doesn't even get the opportunity to have it converted back into USD. It's literally like trying to put a square peg into a round hole. What bugs me immensely is that they should have a better handle on this instead of giving bad info. But given how poor other parts their process has been (as has been documented here), I shouldn't be surprised.

One thing I don't understand about US$ accounts at Canadian institutions. If you want to receive funds from a US bank through ACH, does the Canadian bank provide a US based routing and account number?

ACH doesn't exist in Canada. A similar format is called Interac e-transfer - kinda like Venmo/Zelle without the 3rd party. So you can't send funds via ACH from a US bank direct to a CDN bank. It has to be US to US and then the bank's US division has an internal transfer system with it's CDN division as has been referenced by a few folks.
 
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I don't think this is a reason for Canadians to not rent through KOALA, but it is information that they should know going in.
I would have to increase the listing price, to cover the double currrency conversion fees with Koala/Stripe
When I used redweek payments, they sent me a check(US funds) which I have no problem depositing into my US account at my canadian bank
 

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If the bank account is in Canada, even if the account is in US$ then I think you will have an issue, as it is looking at the Bank NOT at the account to determine currency. That is why I have a bank account in a US branch of the Canadian bank I use, specially TD. I have a CDN Bank and a US Bank both TD. They are linked and I can transfer funds back and forth with no cost.

But the key is a US Bank Account NOT just a US $ account (at your Canadian Bank).

I have family and friends in Canada who pay for their TS usage in Canadian Dollars, but then I can transfer it my US $$ Account in Canada, and then to my US Branch and separate account of that same Canadian Bank. If they want to pay me in US$ from Canada the only way I can do that is for them to go to the bank and deposit the US Cash directly in my US$ Account in Canada. I have some family and close friends that prefer that method.

I am sure it is a foreign concepts for Americans to consider having accounts in a country that are NOT that countries currency. But if you are a Canadian and US travel happens all the time (Covid not withstanding), just having a US$ account is an easier method for many of us. Currency exchange is not a perpetual problem to deal with.
Again for American audience, the Canadian banks hide their identity with initials so that Americans are not aware that these are Canadian Banks. TD - Toronto Dominion. CIBC - Canadian Imperial Bank of Commerce, RBC - Royal Bank of Canada. TD even owns Ameritrade, hence the name TD Ameritrade.
 

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If the bank account is in Canada, even if the account is in US$ then I think you will have an issue, as it is looking at the Bank NOT at the account to determine currency. That is why I have a bank account in a US branch of the Canadian bank I use, specially TD. I have a CDN Bank and a US Bank both TD. They are linked and I can transfer funds back and forth with no cost.

But the key is a US Bank Account NOT just a US $ account (at your Canadian Bank).

I totally agree with you and that was my understanding going into this. That's why I was surprised when I was told otherwise by Koloa and Stripe. I'm now getting different information from Stripe. :wall: I've asked them to delete the existing information entirely so I can start over and do what I originally had planned on - entering the banking info of my US RBC GA account info. Hopefully I'll be able to do that and still not default to MY actual country location.
 

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I totally agree with you and that was my understanding going into this. That's why I was surprised when I was told otherwise by Koloa and Stripe. I'm now getting different information from Stripe. :wall: I've asked them to delete the existing information entirely so I can start over and do what I originally had planned on - entering the banking info of my US RBC GA account info. Hopefully I'll be able to do that and still not default to MY actual country location.

I assume that should work, as your bank and routing info will be different for the US account then from the Canadian.
 

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Well, I just had my first rental booked on Koala... The process is easy enough. Now I wait to make sure it isn't cancelled and to receive my payout. I tend to only book two months out to take advantage of Wyndham VIP discounts. Due to this, I wasn't sure how well Koala would work. As maybe one would expect, nothing has come close to the success of Facebook, but FB takes MUCH more time than Ebay or Koala. I guess I need to just get better at projecting what people will want. That said, it is (usually) enjoyable getting to know people with the personal interaction through FB and TUG. Neither Ebay or Koala offer that part of the experience.
 

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That said, it is (usually) enjoyable getting to know people with the personal interaction through FB and TUG. Neither Ebay or Koala offer that part of the experience.

Great news on the rental! I wish everyone here on TUG would give Koala a chance, especially those with high-end rentals. I have very few...

That is a different take on things, and I do appreciate that, and one always hopes that a rental will turn into a repeat customer. I understand that for sure.

I rented to a nice young couple last summer that had some sort of a big fight while staying at Sheraton Broadway Plantation in one of my weeks, and the woman left the guy stranded along with her entire closet of clothes, and Sheraton called me to ask what to do with all of the clothes and luggage. I told them to store it, in case she came back. The guy who was originally rather nice, he turned out to be just a big slob and left the rest of the unit in dirty condition. They were there for a week. Rare instance, but still, you cannot judge a book by a few email conversations.

I have a bunch of repeat renters of Val Chatelle (Frisco, CO) that request several consecutive weeks. We only own a few weeks in winter season. If we owned 30 weeks, I could easily rent all 30 for a good amount over fees.
 

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I listed a week on Koala today and accidentally clicked on the 26th of May 2021 instead of next year for the same date. I couldn't clear it out, and I had to click on an end date and then start over. Took me a while. I sent the email confirmation from WorldMark with a note about the issue and already received a call. My mistake and I finally figured out how to fix it.

I suggest always sending an email confirmation of your reservation for a speedy publishing of your listing and add any issues you had to listing along with that email.

They did take out the ability to choose bed configurations, which I thought was kind of nice but not really necessary for units like Dolphin's Cove that only have a few unit types. Could be helpful for other resorts.

When the lady called me back from Koala, the caller ID said Destin, FL, so I almost didn't answer, but since it wasn't a robocall, it kept ringing, so I answered. Good thing I answered.

They are getting speedier with the verifications, and I know it's because I am forwarding the confirmations to them at hello@go-koala.com I highly recommend doing that.
 

dioxide45

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I listed a week on Koala today and accidentally clicked on the 26th of May 2021 instead of next year for the same date. I couldn't clear it out, and I had to click on an end date and then start over. Took me a while. I sent the email confirmation from WorldMark with a note about the issue and already received a call. My mistake and I finally figured out how to fix it.

I suggest always sending an email confirmation of your reservation for a speedy publishing of your listing and add any issues you had to listing along with that email.

They did take out the ability to choose bed configurations, which I thought was kind of nice but not really necessary for units like Dolphin's Cove that only have a few unit types. Could be helpful for other resorts.

When the lady called me back from Koala, the caller ID said Destin, FL, so I almost didn't answer, but since it wasn't a robocall, it kept ringing, so I answered. Good thing I answered.

They are getting speedier with the verifications, and I know it's because I am forwarding the confirmations to them at hello@go-koala.com I highly recommend doing that.
I think they really need to include something in the listing flow about sending the confirmation. It seems like it has helped many. THough it would probably be easier to have some type of upload function where you can just upload it during the listing process.
 

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In the age of Airbnb and VRBO, timeshare rentals can be lost in the vast offerings of these big websites. There are some negatives with VRBO and Airbnb like the people who inquire about a Tuesday-Tuesday rental, when most timeshares are Friday, Saturday or Sunday check-in. A renter inquires about those weekdays, then your listing goes to the bottom of the list because you cannot accommodate that request. You lose points somehow. So the system automatically puts you on the bottom of the pile.

I always hoped for a site that would provide timeshare owners with an alternative that would not cost anything to list; would be cost effective for fees charged; and would fit the timeshare world perfectly. With Koala, I think we have the perfect option.

The only cost to timeshare owners is the 8% commission, which covers the credit card fees. You can choose how strict you want to be with refunds. I like that because I need my Wisconsin Door County reservations to be cancellable at 60+ days out, so I don't lose my Shell points. Sixty-two days is an option.

I found it very easy to list my weeks, but there are some that aren't included on the site, including Door County Little Sweden resort. I found that odd because it's a very popular resort. All they need to do is go through the RCI directory to add more resorts.

What I am wondering is how successful you have been with Koala? Redweek is so popular but I have had weeks that didn't get a single inquiry, and I was renting pretty cheaply. When I told Redweek that my Summit County ski weeks didn't even receive a single inquiry, I was not offered an extension of my listing or an opportunity to get a refund or offered any compensation. I realize this is not really something that do regularly, it was just my expectations not being met, but I would bet Breckenridge listings did just fine during the ski season, and I was able to rent my Frisco weeks via Craig's List for the price I was asking on Redweek, and I rented the weeks very easily that way. So I think my listings got lost on the site somehow.
I think the 8% commission is way too high. I get half my business from Airbnb and they charge 3% total to the landlord. Airbnb has the largest supply of rentals on the planet and the biggest audience. I've also found that Airbnb guests tend to be younger and are not that price sensitive since they're also looking at renting directly from the Marriott's of the world which are a lot more than what I get. I'm also on Redweek and myresortnetwork but only get a handful of rentals there. Most people who are not familiar with timeshares have never heard of these websites but everyone knows Airbnb.
 

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I think the 8% commission is way too high. I get half my business from Airbnb and they charge 3% total to the landlord. Airbnb has the largest supply of rentals on the planet and the biggest audience. I've also found that Airbnb guests tend to be younger and are not that price sensitive since they're also looking at renting directly from the Marriott's of the world which are a lot more than what I get. I'm also on Redweek and myresortnetwork but only get a handful of rentals there. Most people who are not familiar with timeshares have never heard of these websites but everyone knows Airbnb.
Well, I am glad you found a place where you are comfortable, but I am all about timeshare-specific rental Koala.

Airbnb works for a lot of people. If you are renting Marriott, you should raise your price by 5% and try it. It doesn't cost anything to try. Marriott is very rentable.

I think Redweek has a lot of very under-priced rentals, and I am hoping Koala will net me more than Redweek for rentals. The competition on Redweek for some resorts is fierce. But I do like Redweek. When I have to rent something in a hurry, that is where I go to advertise. But I am crossing my fingers for Koala to succeed for the timeshare rental marketplace. TUG could have filled that for us, but the marketplace has not been a success for me at all. I am not interested in doing cheap rentals.
 

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I think the 8% commission is way too high. I get half my business from Airbnb and they charge 3% total to the landlord. Airbnb has the largest supply of rentals on the planet and the biggest audience. I've also found that Airbnb guests tend to be younger and are not that price sensitive since they're also looking at renting directly from the Marriott's of the world which are a lot more than what I get. I'm also on Redweek and myresortnetwork but only get a handful of rentals there. Most people who are not familiar with timeshares have never heard of these websites but everyone knows Airbnb.
Perhaps, but I think you need to look at all of the fees charged for a rental. KOALA charges 8% to the owner and 5% to the guest. Doesn't AirBnB have service fees to the renter also. Looking at some information on their website, it looks like guest fees could be as high as 14.5%. Since KOALA doesn't have as high of a guest fee, you can charge more on their website and it still costs the same net to the renter.

I also think KOALA's plan is to become more widely known, kind of like AirBnB. KOALA also seems to be marketing to the younger and not as price sensitive consumer. As @rickandcindy23 dinciated, it costs nothing to list on KOALA, so the only expense to trying it is your time.
 

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I’ve had ok luck with Koala- one booking so far. However I’m currently stuck with a pending listing that ‘needs attention’. Normally it’s a quick fix, but I’ve sent 4 email resonses/flollowups to them about it and haven’t received a response. Last time I tries to call their phone # it didn’t work so I’ve been waiting for a response from the emails. First emails were sent 5/10, so should have been more than enough time for someone to see them. Not sure how to proceed given this situation- had hoped Koala would be my go-to place for rentals, but this is more work/time to get a listing up than I’d like. - getting close to the time it becomes nonrefundable, so seems like a wasted effort.
 

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I think Redweek has a lot of very under-priced rentals, and I am hoping Koala will net me more than Redweek for rentals. I am not interested in doing cheap rentals.

I completely agree with this. However, Koala advertises itself is the place to "Save up to 70% on Resort Stays." That doesn't bode well for staying away from cheap rentals. I know they have been soliciting on a Wyndham owners Facebook group. They request reservations and list the points required for the reservation. The guaranteed payout for the reservations are all exactly $6.5/1k points. As a Club Wyndham Access owner, that doesn't even cover my MF.

Anyway... I have had one booking, I will see how the others go. I still think the key is to find prime weeks at prime locations where you can charge a premium and still be in the bell curve. I don't know that I have found a sliver bullet platform... so for now, I am giving them all a try. Well, that, and I am new at this so I am casting my net wide hoping to catch some fish. :)
 

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I completely agree with this. However, Koala advertises itself is the place to "Save up to 70% on Resort Stays." That doesn't bode well for staying away from cheap rentals. I know they have been soliciting on a Wyndham owners Facebook group. They request reservations and list the points required for the reservation. The guaranteed payout for the reservations are all exactly $6.5/1k points. As a Club Wyndham Access owner, that doesn't even cover my MF.

Anyway... I have had one booking, I will see how the others go. I still think the key is to find prime weeks at prime locations where you can charge a premium and still be in the bell curve. I don't know that I have found a sliver bullet platform... so for now, I am giving them all a try. Well, that, and I am new at this so I am casting my net wide hoping to catch some fish. :)
70% off of rack rates, not Redweek rates. When people usually book hotels for the amenities: pools, security gates, activities, etc., and are not interested in private homes or condos (I wouldn't want that myself after using timeshares), it is a savings off of rack rates. If you have checked rack rates for Westin on Maui and compared it to what owners are charging, it's a bargain to rent directly from an owner.

Changing topics, which I do often. When I think of Airbnb specifically, I remember one of my friends trying it, when I couldn't get her Dolphin's Cove or Peacock Suites. Holly has five kids and rented a private home about two miles from Disneyland. The location was perfect, the house was nice, but every time she pulled into the driveway, the neighbors would call the kids in out of their front yards because they were suspicious of anyone renting a house for a few days at a time. The neighbors were NOT friendly. And think about it for a moment. There are laws that require that you register as a sex offender in a neighborhood, if you have been charged. I forget the law's name. People are right to be suspicious of people renting the house next door for just days or weeks at a time. It's a strange phenomena, and if you think about it, it can be scary for the neighbors. It's another slant on those house rentals that I had never thought of before. Anyway, my friend stopped renting private homes because she realized the discomfort of the neighbors.
 
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I know they have been soliciting on a Wyndham owners Facebook group. They request reservations and list the points required for the reservation. The guaranteed payout for the reservations are all exactly $6.5/1k points. As a Club Wyndham Access owner, that doesn't even cover my MF.

Anyway... I have had one booking, I will see how the others go. I still think the key is to find prime weeks at prime locations where you can charge a premium and still be in the bell curve.
So they are really looking for Wyndham owners who can book at 60 days for half the points.
 

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Perhaps, but I think you need to look at all of the fees charged for a rental. KOALA charges 8% to the owner and 5% to the guest. Doesn't AirBnB have service fees to the renter also. Looking at some information on their website, it looks like guest fees could be as high as 14.5%. Since KOALA doesn't have as high of a guest fee, you can charge more on their website and it still costs the same net to the renter.

I also think KOALA's plan is to become more widely known, kind of like AirBnB. KOALA also seems to be marketing to the younger and not as price sensitive consumer. As @rickandcindy23 dinciated, it costs nothing to list on KOALA, so the only expense to trying it is your time.
I think Airbnb automatically charges taxes for the area.
 

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I’ve had ok luck with Koala- one booking so far. However I’m currently stuck with a pending listing that ‘needs attention’. Normally it’s a quick fix, but I’ve sent 4 email resonses/flollowups to them about it and haven’t received a response. Last time I tries to call their phone # it didn’t work so I’ve been waiting for a response from the emails. First emails were sent 5/10, so should have been more than enough time for someone to see them. Not sure how to proceed given this situation- had hoped Koala would be my go-to place for rentals, but this is more work/time to get a listing up than I’d like. - getting close to the time it becomes nonrefundable, so seems like a wasted effort.
Have you checked your junk email folder? You can always email laura@go-koala.com She is very responsive, and I know Gemma is too.
 

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Have you checked your junk email folder? You can always email laura@go-koala.com She is very responsive, and I know Gemma is too.
Yes- their emails are not filtered. My point was‘t so much to solve it, but to add to the discussion on some of the limitations. I think that if they send an email requesting info and you respond to it, it should be acknowledged, especially if you specifically ask for confirmation.
However, I will try once again to contact them.
 

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So they are really looking for Wyndham owners who can book at 60 days for half the points.
That or they are taking full advantage of everyone that is just trying to dump points for cost and not get stuck with points they can't use. I am amazed at some of the prices reservations go for on the FB groups. There is an underlying expectation that nothing should be listed for more than $7-$10/1k and many VIPs just pass on their savings directly.
 

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I just rented one of the WorldMark Dolphin's Cove 3 bedrooms I had. Just in the nick of time on Koala. I am so relieved. Redweek didn't work for me this time.

I have to cancel the other one by tomorrow. I am so hoping to rent the other one. I also have it listed on Redweek. With Disneyland opening, I am considering keeping the other one I have booked. Cancelling at 30 days could be a mistake.
 

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Anybody have any experience/luck renting RCI weeks or HICV points stays on Koala?
 

rickandcindy23

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What are RCI weeks? You cannot really rent exchanges, according to the exchange company rules.
 

jupe

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What are RCI weeks? You cannot really rent exchanges, according to the exchange company rules.

So I have RCI Points and HICV Points that I don't see using before spring break 2022, if even then. Is there a legit way to offload these and recoup some maintenance fee?
 
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