Lock-off renting tips

[lisilv]

I hope I am not breaking any rules with my questions, if I am, my apologies.

I have placed a lockoff unit for rent, and since this is my first time doing this, I would like to get some advice for all the experienced users in this forum.

1- Where can I get copies of contracts?
2- Do I need to do a background check? If so, how?
3- Do I request a depost first?
4- Any other recommendation?

Thanks in advance for everyone's help.

 

[Dave M]

1 - See the "Renting" section of TUG Advice (link at the top of this page).
2 - No. Marriott will take a credit card imprint from your renter when he/she checks in to protect in case of damage.
3 - Yes. Immediately. See the sample rental contracts for more guidance on timing of the deposit and final payment.
4 - See this thread to view the transaction from your occupant's viewpoint. It will help you to be more tolerant of questions that might be posed to you.

 

[pwrshift]

I don't know where you put it up for rent, but I've found that Ebay gets the fastest decisions if you 1. use a reasonable reserve price; 2. start your auction at $69 first bid; 3. specify a 50% deposit upon winning auction, balance when confirmed by Marriott; 4. use Paypal; 5 make sure it's very clear you are 'renting' and not selling this week and describe it fully as it is not the full unit with kitchen, living room, etc. I've rented several lockoffs with success this year - for $850 at Canyon Villas, $925 and $975 at BeachPlace and tell anyone who asks what my reserve price is.

Bear in mind buyers might have some confusion how 'timesharing' rentals work - a lot of them don't quite understand why Marriott doesn't also charge them the room rate if they've already paid you for it, so some explanation is helpful.

Hope that helps.

Brian