Renting Basics

[kamumma1]

Hi all -
I am looking to rent our Marriott TS for 2011. Never done this before. I read "How to Rent Your Timeshare" already. So first I get a price and decided where to list it. How far out should I list the unit? Then, when I have a renter, I send them the contract. How long do I wait for them to sign? Do most landlords ask for a 10% security deposit? When do you have the renter pay by? And can they cancel, and if so how far out? Then once that's agreed, how do you tell Marriott that you're renting it out and is there a fee for that? Thanks for any help.

Kathy

 

[MuranoJo]

You'll probably get a variety of responses here, so I'll just share my process.
I've heard posting as early as a year ahead or so is best so airfare can be booked long before check-in. (Not everyone has the luxury to reserve their weeks that early, as is my case for one unit.) I've found most of the rental activity starts to pick up just 3 or so months prior to the week, but maybe that's because I'm renting only 6 mos. out.

Once you send the renter the contract, I would specify when you expect them to complete and return it. You can do this by email so most I'd give them is a week or two.

I ask for 50% at contract signature (can be non-refundable, and some people do this), and 50% at a minimum 30 days before check-in. Depends on how comfortable you are that you can turn around and rent it or deposit it at that point so close to check-in.

I still use PayPal as my method of payment billing and receipt, but my first several rentals were personal check and it worked out fine. I spoke to them on the phone first.

I don't tell my resort I'm renting it out--I just ask them to change the name on the reservation. Not sure how Marriott works.

 

[DeniseM]

This is how I do it:

I post my Ad as early as possible - I often rent my Maui week more than 6 mos. out. I do not use a contract, unless the renter requests one. You have the legal right to rent your TS out and you don't have to go into the details with the resort. I just tell them I have a guest using my week, and ask them to send out a confirmation in the renter's name.

Here are the terms from a week I just rented today:

RENTAL TERMS

Dates: Dec. 27, 2009 - Jan. 3, 2010 (7 nights)

Rent - $900 for 7 nights

Unit - 1 bdm., 1 bath, sleeps 4

All guests must be at least 25 years old, except for children accompanied by their parent(s).

It is not necessary to use all 7 nights of the rental period, but the resort must be notified in advance if you are going to check-in after the arrival date, and unused nights are not refundable. Please email me for more info.

Payment -
1) All payments are to be made with Paypal*
2) A $100 deposit is required to put the reservation in guest's name.
3) As soon as the guest receives the confirmation from the resort in their name, the balance of $800 is due in full within 24 hours.
4) Payments are nonrefundable and the reservation is noncancelable.*
5) Guest is responsible for all charges to the room, incidental expenses, and any damages.
6) Guest must present a credit card at check-in at the resort.

I am Paypal Verified with a 100% rating on ebay-

*Travel Insurance - This reservation is not cancelable, and not refundable, for any reason, so travel insurance is recommended. If you want/need Travel Insurance, this is the company the AAA recommends- www.accessamerica.com. I have no connection with this company, but I have used them and been happy with them.​