Owner wants to use escrow for timeshare rental

[molemay]

I bit on a Redweek ad for a rental over Thanksgiving for $665. When I got a response back the owner wanted me to pay $100 for escrow services. I have emailed her and let her know that the escrow services do not protect the owner as much as the renter, but she insists we use it and I pay for it. I really want the week, but it makes me irritable that she wants me to pay the fee for something she wants. I offerred 50/50 split, but she won't budge. She also says this is her first rental and she thinks this it the right way to do it since she doesn't know who I am.

It is a Marriott rental, and I own 5 Marriott weeks. I know how the system works and I have a rental agreement I was willing to use if she wanted me to take care of it.

I guess I am just venting, because I know if I really want the week, I'll have to pay the fee. I don't know if I will find the same week in less than 30 days if I give up on this one.

Any adivse?

Thanks,

Monika

 

[DeniseM]

I simply say "no," to these types of demands, and move on.

If the seller wants it - they should pay it.

I am assuming you have already offered to pay in full - up front?

If the owner doesn't realize that's better for her - she doesn't know what she is doing...

 

[molemay]

Of course, I offerred full payment up front. The rental is next month.

 

[DeniseM]

So - what does she think she is going to get out of escrow that is better than full payment upfront?

Ask her if she knows that someone could dispute the final payment with escrow and not pay her...

 

[molemay]

This is her first rental and she is scared because she doesn't know who she is renting to and feels that the escrow will protect her somehow. I have told her that she has full control of the rental week since it is in her name and if she gets paid in full upfront, she has nothing to worry about.

Her words...

"You sound like an honest person but I don't know you from Adam...You gave me some good advice and I will do it in the future but for us to go forward I would want you to pay the $100 which would bring your total to $765...when you look at the other rentals you see that is still a very good price...I want to use Redweek because I know they will still be there when this is over...the internet can be a very scary place and I must have this security..."

I thought maybe I would give it a few days before I respond and let her think about it. I don't think anyone else will want to pay the fee either and maybe she will come around eventually. I still haven't even asked for proof of ownership.

 

[DeniseM]

This is someone who has no business renting her timeshare...

I think letting her cool her heels is the way to go - in the mean time - keep looking!

 

[molemay]

Thanks for the advice. I feel better. We have 8 people going and one 2 bedroom rented already. We just would like a little more space. If I don't get the rental, it will still work, but it will be a little tight.

She may have to lose this rental before she changes her ways. I even offerred to pay 50% of the fee. She should pay something if she wants the service.

 

[DeniseM]

Do you think she realizes that she won't get paid until after the rental, using escrow?

Does she realize that you have to provide a valid credit card at check-in and any damages or charges will go on your credit card?

 

[molemay]

She didn't mind waiting for the money. But like I mentioned, the rental is for next month. I'm not sure if she is worried about possible damages. I think she just doesn't want to deal with the rental agreement and wants someone else (other than the renter) to handle the details. The problem is that she doesn't want to pay for it and expects the renter to want to fork up the money.

I wish I knew where she got her ideas from. Probably someone at Redweek.

 

[Talent312]

She may have read a PayPal horror story 'bout a renter who reversed payment.
Clearly, she's few clowns short of a circus. <sigh>

Try: "How 'bout you open a bank account and hold the $$ in escrow yourself?
I trust you to do the right thing. I'll even pay you $50 for your trouble."

 

[BevL]

Why not just advertise it for $765 and pay it herself, frankly. It all seems a bit bait and switch to me, especially if it wasn't advertised as requiring escrow.

I'd walk away with a, "If you change your mind, let me know. If I haven't found something else, I may consider it." And frankly, if she came back in two weeks, I'd be offering her less than her asking price.

But that's just me - this type of thing would really tick me off.

 

[Ron98GT]

I simply say "no," to these types of demands, and move on.

If the seller wants it - they should pay it.

I am assuming you have already offered to pay in full - up front?

If the owner doesn't realize that's better for her - she doesn't know what she is doing...

Totally Agree - Move On.

 

[richardm]

It sounds like a good price for a Marriott, plus you also get the security of having your money protected by a third party escrow agent (I'm assuming she wants to use First American Title Company..).. Sounds like a no brainer to me unless you are confident you can find this elsewhere.

You already know she's new to rentals, and would prefer to just send her your money and hope she really has the week confirmed? While I agree that she should have stated buyer pays escrow fee in the ad, it doesn't seem that ridiculous of a request...

Of course, my advice would be drastically different if she is not using a well known or respected escrow agent!

 

[heathpack]

People who are so afraid a stranger is going to rip them off really shouldn't be dealing with strangers.

We had all the details of a private exchange worked out- a week at Disney's BLT for a week at Hyatt Pinon Pointe. The person I was exchanging with was to use the week I was providing (the Hyatt) six months before I was to use her Disney week. I had greater risk, in theory she could've used my week and then cancelled the Disney week on me. But whatever, I wouldn't be considering a trade if I was paranoid.

At the eleventh hour, the lady decides she wants to set up an escrow account. Her idea was we each put the cash value of our week as a rental into an escrow account that a lawyer friend of her husband was willing to set up for free. I just told her no- first of all, that is an unnecessary complication from
my perspective. What was the worst thing I could do to her? Tell her I had a reservation and she would show up and have no lodging. Of course, I would gain NOTHING by doing that, no money was changing hands and she would of course then just cancel my Disney reservation. However, on my end, she could use my week and then cancel the Disney week before I arrived and I could actually be out something in the transaction, unlike her. However, I did
not want to mess with the escrow account, then I was going to have to take the time to investigate her lawyer friend, escrow account laws in NJ (where she was from), it would have just taken more time then I cared to spend on the issue. I suggested she take the money she wanted to put in the escrow account, keep it in her bank account, and just simply use it to rent a hotel room in Sedona is she arrived and my reservation was fraudulent.

She insisted on the escrow account, believed my resistance to it was a sign of ill intentions. I finally told her to forget it. There was no way I was going through with a private exchange with someone who I thought was illogically paranoid.

Sometimes it is better to just walk away.

H

 

[Rent_Share]

In this case is the second unit worth $765 v $665 if so then pay the "increased" cost.

Does RW have a "feedback" provsision, this person obviously has no business being a rentor

 

[spirits]

Who wants it more?

Is this a good price even with the $100. If someone was renting it for the full price with the $100 added in would you still want it? If you would pay that price then pay it and call it the cost of getting the week you really really want And you might have a connection in the future if you really want that week again.

 

[theo]

I disagree...

Does RW have a "feedback" provsision, this person obviously has no business being a rentor

RedWeek has no feedback avenue except for postings in their truly and terminally lame "discussion forums".

I still respectfully disagree with the statement that "this person obviously has no business being a rentor".
Moreover, I think it would be inappropriate to "slam" an owner anyhow simply because she wants to use an escrow service for her rental (...although this term and condition should certainly have been very clearly stated in her ad, right from square one).

As the owner of the week, she certainly has every right to handle that week (including the apparent first-time rental thereof) in any way she sees fit. Her intractable and unreasonable position on escrow will likely work against her in the end, but it's still certainly her right and prerogative to make such self-injurious decisions on her own ownership. Maybe losing a solid, pre-paid rental in toto will instill new perspective.

 

[mshatty]

I'm with Denise M. Just say no. It is a negotiation. If there is something you don't like, you don't have to rent from her. I would much rather have the full rent up front like you are willing to pay for than use an escrow service to be paid afterwards. Good luck.

 

[Rent_Share]

This is someone who has no business renting her timeshare...

I think letting her cool her heels is the way to go - in the mean time - keep looking!

Theo - You didn't slam Denise for the exact same comment

 

[theo]

No slam, ma'am...

Theo - You didn't slam Denise for the exact same comment

I submit that a respectful expression of disagreement doesn't (and didn't) "slam" anyone.
I didn't see Denise's comment. I did see yours. I respectfully disagree with both comments.

My only point was (and still remains) that the owner of a week has the right to lawfully do with that week as he / she may see fit. For you to just casually dismiss a (first time renting) owner's obvious inexperience and discomfort by stating she "...obviously has no business being a rentor..." certainly seems a tad harsh, no?
The entire rental potentially going right down the drain as a result of her inexperience and stubborn position will likely and hopefully provide its' own costly "teachable moment" (if she chooses to even pay attention).

There is a first time for anyone doing anything; few people get everything right "first time around".

 

[brucecz]

Thanks for the advice. I feel better. We have 8 people going and one 2 bedroom rented already. We just would like a little more space. If I don't get the rental, it will still work, but it will be a little tight.

She may have to lose this rental before she changes her ways. I even offerred to pay 50% of the fee. She should pay something if she wants the service.

Tell her to put the fact she wants escrow in her ad and that she wants the renter to pay that extra $100 in her ad.

Then ask her to check out number of ads that do or do not escrow.

I have over 20 ads on Redweek and in all my ads I only except Paypal in the last 30 days.

I think a person could dispute escrow that was put on their credit card.

I have rejected escrow several times and would only accept it if this was ONLY the last minute offer I had.

Have done any ebay, then point her to your ebay feedback rating or point her to this string.

Good luck.

Bruce

 

[aliikai2]

You are really big on that" To just casually dismiss"

What I read was that unless this was the only unit available to walk away, as the owner/landlord has no clue as to how a rental works.
So if that is to just casually dismiss

Then I must again disagree with you Theo. as the customer is always right.
Even when they are wrong or unreasonable, since they control the money they have the right to walk and spend their dollars/ Pesos, Euros elsewhere.

Greg

I submit that a respectful expression of disagreement doesn't (and didn't) "slam" anyone.
I didn't see Denise's comment. I did see yours. I respectfully disagree with both comments.

My only point was (and still remains) that the owner of a week has the right to lawfully do with that week as he / she may see fit. For you to just casually dismiss a (first time renting) owner's obvious inexperience and discomfort by stating she "...obviously has no business being a rentor..." certainly seems a tad harsh, no?
The entire rental potentially going right down the drain as a result of her inexperience and stubborn position will likely and hopefully provide its' own costly "teachable moment" (if she chooses to even pay attention).

There is a first time for anyone doing anything; few people get everything right "first time around".

 

[theo]

We can (...once again) just agree to disagree

What I read was that unless this was the only unit available to walk away, as the owner/landlord has no clue as to how a rental works.
So if that is to just casually dismiss

Then I must again disagree with you Theo.

As you've gone out of your way to point out previously, everyone is entitled to an opinion. Forgive me if I don't actually seek or require your approval or concurrence before (or after) choosing to express mine...

 

[heathpack]

The issue that I would have with this rental is the 11th hour addition of the escrow terms. If you are a newb renter and you want to use an escrow service, fine. Just list that as an expense in your original ad. If you decide to add it at the last minute, and your rentee objects, either relent or eat the cost yourself. Especially if the rentee rightly points out that the escrow is of little benefit to any of the parties in this particular circumstance.

There is nothing wrong with being a newbie as long as you don't expect someone else to pick up the tab for your inexperience. The fact that this renter does expect someone else to pick up the tab suggests a certain degree of unreasonableness and that is the last type of person I want to rent a TS from.

Hence, the "walk away" opinion.

H

 

[Stefa]

I would not agree to the use of escrow for a rental (why muddy the waters?) but RedWeek does suggest using one as a way to protect your interests in a rental transaction. While I don't agree with this, I think it is perfectly understandable why a first-timer would think it a good idea based on RedWeek's recommendation. I wish RedWeek would stop pushing it.