Recommended payment types for rentals (owner's point of view)?

[Space Coast Laurie]

We may be renting out one of our timeshares this year because my husband may have to work that week. I have a pre-paid legal plan that I may use to get a lawyer to fine tune the contract I used when I rented out a timeshare many years ago, but what's the current advice regarding what type of payments to accept? I vaguely recall reading somewhere about renters doing a PayPal complaint after a rental and PayPal taking the money back from the owner and returning it to the renter without the owner being able to challenge, even though the renters used the timeshare without issue. What are the safest types of payment from the owner's point of view? Do VRBO, AirBnB, RedWeek or any of those services offer any kind of protection from scammers for the owner?

 

[Paumavista]

I believe Redweek has a verified listing which protects both the renter and owner. BUT, I rent a lot and I have personally found that listing here at TUG is good especially when you are dealing with long term TUG members. (I see you joined before 2005). I also always want to TALK with the people I rent from. I like quick responses and a direct cell phone. I also "go with my gut"....just my experience.

 

[ScoopKona]

I like Paypal Friends and Family. There's no "takebacks" and there aren't any fees. Anyone who balks at using it is the sort of person who is going to give you problems.

 

[The Colorado Kid]

My opinion only is that you are way overthinking it by using an attorney and therefore adding unnecessary friction and complication to what can be a relatively smooth rental process including the contract and payment.

Redweek and Koala have easy to use soup-to-nuts services that are reasonably priced to you and thousands of people who rent from owners on those platforms. Renters have the comfort level of also knowing that YOU are not a scammer buy being able to use their credit card for the transaction instead of sending a stranger thousands of dollars with likely very little recourse.

 

[Fido Chuckwagon]

I like Paypal Friends and Family. There's no "takebacks" and there aren't any fees. Anyone who balks at using it is the sort of person who is going to give you problems.

I don’t know, I would balk at using F&F as a renter. There are tons of warnings when using F&F that this is not to be used for purchases, that you are not protected, that you are violating TOS’s by using it for purchases, etc. Before i owned timeshares when I rented (DVC) I always used the regular PayPal option because I was worried that F&F could let the owner take my money and run. (I was also more than willing to pay the extra 3 percent to the owner use that option).

Renting a timeshare takes trust on both ends. As an owner if you tell prospective renters that they essentially have to pretend that you are a family member to send you money that’s going to raise all sorts of scammy alarms.

 

[ScoopKona]

Renting a timeshare takes trust on both ends. As an owner if you tell prospective renters that they essentially have to pretend that you are a family member to send you money that’s going to raise all sorts of scammy alarms.

And there's the rub. I don't trust the average person as far as I could drop-kick him or her. They will cheerfully rent your week, and then initiate a chargeback/complaint/refund request as soon as they got what they wanted. They're the same people who buy a massive TV this month so they can return it the Monday after the Superbowl.

 

[kanerf]

I just use regular PayPal when I rent my DVC points out. Never had an issue. I make the reservation for the renter and then they can see it and send me payment. If I don't get paid, I still own the reservation and can cancel it.

 

[The Colorado Kid]

I just use regular PayPal when I rent my DVC points out. Never had an issue. I make the reservation for the renter and then they can see it and send me payment. If I don't get paid, I still own the reservation and can cancel it.

Glad it works for you...from the renter's side...I'm always in wonderment at people willing to send thousands of dollars to a stranger without much or any recourse if the person listing the week is a scammer. Does PayPal regular have any protection for the sender?

 

[DRH90277]

Redweek $49.99 option with Verified and Protected - I only use Redweek now as I think their approach is well thought out and fair to both parties. Holding back the payment to the lessor is a confidence builder for the renter. I also like their website for both features and information.

 

[The Colorado Kid]

Redweek $49.99 option with Verified and Protected - I only use Redweek now as I think their approach is well thought out and fair to both parties. Holding back the payment to the lessor is a confidence builder for the renter. I also like their website for both features and information.

@DRH90277 100%

 

[grupp]

I prefer a check, but last few years the majority have been through Redweek payments. However, the trend seems to be more people wanting to pay by check again due to the increases fees.

 

[grupp]

I like Paypal Friends and Family. There's no "takebacks" and there aren't any fees. Anyone who balks at using it is the sort of person who is going to give you problems.

I would think just the opposite. I have done a bunch of rentals as owner and renter. If someone required me to pay via Friends and Family I would refuse to do business this them since the have shown they cannot be trusted. If they won't honor what they agreed to when they created their Paypal account, why would I expect them to honor an agreement with me?

 

[ScoopKona]

I would think just the opposite. I have done a bunch of rentals as owner and renter. If someone required me to pay via Friends and Family I would refuse to do business this them since the have shown they cannot be trusted. If they won't honor what they agreed to when they created their Paypal account, why would I expect them to honor an agreement with me?

People who are difficult before the transaction is even agreed upon are going to be difficult the entire way. I only accept F&F payments when using Paypal. I only send F&F payments when sending Paypal.

While bad seller and bad buyers both exist. It's my experience that there are far more awful buyers than sellers -- people who want whatever it is they're buying; and then weasel out of it.

 

[kanerf]

Glad it works for you...from the renter's side...I'm always in wonderment at people willing to send thousands of dollars to a stranger without much or any recourse if the person listing the week is a scammer. Does PayPal regular have any protection for the sender?

There is a dispute process, but in the case of the DVC rentals, the renter gets an email from DVC with their reservation before they send me any money.

 

[AJCts411]

My rental agreement states that re-renting or occupant changes are not allowed. And fact is that no one but the week owner can change the guest certificate. Payment is typically is through Paypal but again my rental agreement states that if payment is made another way, the renter is responsible for my extra fees. IE - PP business 2.8%, PP CC 3% So it matters not to me how much "protection " the occupant wishes to purchase, or if they do not buy trip insurance as advised. I have had scammers and "gonna be trouble" attempt to "rent", but a little common sense goes a long way. Simply have a solid rental agreement, And never revise the agreement to satisfy some scammer.

 

[theo]

I believe Redweek has a verified listing which protects both the renter and owner. BUT, I rent a lot and I have personally found that listing here at TUG is good especially when you are dealing with long term TUG members. (I see you joined before 2005). I also always want to TALK with the people I rent from. I like quick responses and a direct cell phone. I also "go with my gut"....just my experience.

Just for a little clarification, getting "RedWeek Verified" alone provides no protection beyond confirmation that the advertiser legitimately owns what is being advertised. Being "RedWeek Verified" does not actually involve any protection (for either party) regarding the actual transfer of funds.

RedWeek's other "verified and protected" and / or "full service" listing options may offer more protection regarding funds, but having never chosen to utilize anything more than "verified" in my infrequent "do it yourself" RW rental listings, I cannot really say.

I know that a lot of owners do not like (and find to be completely unacceptable) RedWeeek's practice of not releasing any rental funds to the owner until two days into the actual occupancy for those rentals in which RedWeek is directly involved. That constraint is not an issue for the "do it yourself" option with "verified only", in which owners can (and do) dictate their own payment and cancellation terms.