Renting my Timeshare week?

[maryk]

I have a week to rent in Daytona in August and have never rented before, so I have a few questions.

What is the best site to post it for rent? Tug, Redweek, VBRO, AirBnB

Should I have a contract for them to sign? Is there a good one to use?

How should I have them pay to protect myself?

What should I look out for?

Thanks - maryk

 

[DeniseM]

I have a week to rent in Daytona in August and have never rented before, so I have a few questions.

It's really late to start an August rental - have a back up plan.

What is the best site to post it for rent? Tug, Redweek, VBRO, AirBnB

VRBO and AirBNB have high fees and favor the renter. You could end up with a last minute cancellation and no money, because they control the process.

Should I have a contract for them to sign? Is there a good one to use?

There are 2 or 3 on the TUG Advice page in the rental section.

How should I have them pay to protect myself?

There is no 100% safe method on a last minute rental and if you ask for cash or a check, it can make you look like a scammer. Many owners use PayPal.

What should I look out for?

Broken English, strange terms, strange forms of payment, overpayment and a request for a refund. To protect yourself, you need to determine the rental terms - not the renter. Listen to your gut - if things don't seem right, move on.

Another Tugger asked a similar question earlier today and this was my recommendation:

"I have an idea as to what I’d like to rent it for" - you should look at the Comps first - that is what the price should be based on. You want to be in the bottom 50% for the identical rental. There will be many that are WAY overpriced - ignore them.

TUG and Redweek are 2 of the best sites and they are safer, because you have to pay and register for a membership to post Ads there.

I have a no cancellations/no refunds policy:

1. Collect a rental agreement from the renter.
2. Collect a $100 deposit - if you join PayPal you can send them a PayPal invoice. Factor in the 2.9% Paypal fee when you set your price - don't add it on. Renters don't like hidden fees.
3. Go online and get a guest confirmation from Vistana and send it to guest.
4. Send renter a 2nd invoice for the final payment, due in 48 hours.

*Make sure your rental terms, rental agreement, and receipts say "no refunds/no cancellations," and that they all include statements recommending travel insurance.

 

[maryk]

Thank you that is all extremely helpful.

Looks like this renting idea, isn't all it is "cracked" up to be :-(.

Wish me luck.

 

[WVBaker]

I have a week to rent in Daytona in August and have never rented before, so I have a few questions.

What is the best site to post it for rent? Tug, Redweek, VBRO, AirBnB

Should I have a contract for them to sign? Is there a good one to use?

How should I have them pay to protect myself?

What should I look out for?

Thanks - maryk

Probably being in the minority here, but for my rentals I prefer to use Airbnb. They are of course one the largest vacation rental sites on the internet. I currently have 3 rental units and have always obtained rentals for every unit through their site.

The fee to list your rental is 3% and for that they will handle the process for you. You don't need to worry about the contract, you don't need to worry about the individual renting the unit, you don't need to worry about payment, etc. Airbnb takes care of all that.

Very easy, step by step instructions on preparing the listing advertisement which is very detailed and explains the process and requirements you may have to your renter.

For me at least, a small price to pay.

As Denise noted, it will be difficult to find a renter this close to August.

 

[easyrider]

My terms have been full payment up front and no refunds. Once the check clears I put the unit in the guests name and from there on out the unit is their problem. As to where is the best place to advertise your unit , for me it has usually been my email contacts and facebook friends. I have used Tug in the past with no problem. I tried craigslist but received to many iffy inquiries so I don't use go this route anymore.

I was considering using my linkedin account to advertise units but haven't as of yet. I seem to be using all of my timeshare weeks these days.

You might try calling SFX to see if they would take the week.

Bill

 

[silentg]

You could put an ad on TUG last minute rentals, if you charge $800. Max?

 

[OldGuy]

I've been renting weeks for years. Open quote for replies.

I have a week to rent in Daytona in August and have never rented before, so I have a few questions.

What is the best site to post it for rent? Tug, Redweek, VBRO, AirBnB

Craigslist Vacation Rentals, Daytona Beach: https://daytona.craigslist.org/d/vacation-rentals/search/vac, or here, TUG.

Should I have a contract for them to sign? Is there a good one to use?

I've never used one. I tell them that the total of our correspondences will service as our agreement, and then I state contract-type stuff, and ask them to ask whatever questions they want.

How should I have them pay to protect myself?

Money Order

What should I look out for?

Just the normal craigslist scammers, and they are pretty easy to tell. So don't answer them.

Thanks - maryk

 

[WVBaker]

I've been renting weeks for years. Open quote for replies.

Craigslist once was a viable advertising medium however, I think this has changed.

Craigslist has become a scammers paradise. More and more, both owners and guests are becoming victims of vacation rental scams. Also, it's simply to much worry to keep your account safe from those ever popular phishing attempts and postings have a relatively short advertising life. In most cities you have up to 45 days before your ad will run out and need renewing, but in some cities it will expire after 7 days. You'll need to
always be aware of when your ads expire and need to be renewed. Potential renters have to many low-quality rental advertisements and spam postings to sift through before they find genuine listings that interest them.

 

[OldGuy]

Craigslist once was a viable advertising medium however, I think this has changed.

Works great for me.

Use CL for lots of things. I just looked at my account, hundreds of ads, and I refresh ads every two days, and they go back to today's page. I've done everything from a part-time, spare-change business for many years to a $75,000 single sale. it's a great place to find what you want and get ride of what you don't want.

Not the least of which was getting rid of five weeks of timeshare.



But, thanks for the warning.

I trust that people who are smart enough to be on TUG are smart enough to buy and sell things on the Internet.

 

[DeniseM]

If you know the ropes, Craigslist works well for inexpensive rentals, but for a newbie, the scammers can be tricky. For a first time rental, it's best to stay with safer sites.

 

[OldGuy]

It might be smart to use multiple sites, and then cull out what works best.

 

[DeniseM]

For a newbie with one rental, it's better to stick to the safer sites.

Also - there is no site that is the "best" for timeshare rentals, because it really depends on the rental. For example, high dollar rentals at the top resorts don't do well on Craigslist. On Craigslist shoppers are looking for "deals."

 

[OldGuy]

Some other things I've used/done.

1. I've used the owners' rental programs at two resort, which is good if you are concerned about doing it yourself, but not so good if you like to be in control.

2. I done quite a few to acquaintances, same as I do Extra Vacation and Last Calls for others.

3. If you wind up renting on an ongoing basis, your prior tenants are a great source. They "get" a regular timeshare week without having an ongoing obligation, and you get someone willing a pay, or help pay, your annual fee.

I've done all those at the same time sometimes. For instance, an acquaintance that I had rented to, and gotten an RCI week for, rented from a resort where we own in Florida. So, I bought that week, and rent it directly to them, and save them the commission the resort was earning when they rented from the resort.

Renting timeshares has not been a business for me like it is for some people; it has been a necessity to recoup fees.

 

[OldGuy]

In real life, my grammar ain't this bad.

 

[chapjim]

I wouldn't despair that the week is in August. I don't consider late June too late to be listing it.

You only need one party that wants to to go to the beach in August. Last fling before school starts, etc.

 

[OldGuy]

I wouldn't despair that the week is in August. I don't consider late June too late to be listing it.

You only need one party that wants to to go to the beach in August. Last fling before school starts, etc.

Yeah, like, after all, it just barely qualifies as a Last Minute Rental, if it does. Late money spends as good as early money.



Just curious for the details . . . resort, unit size, dates . . . there have been numerous posts here from people wanting FL summer beach weeks.

You just never know . . . we have a Week 28 for rent and not long ago, in the text of a thread, a new person here was looking for exactly that week in exactly that location, and we made a connection.

That was done June 13 for a July 13 check-in.

 

[OldGuy]

For a reference, RCI Extra Vacations there in August are running $650 to $880.

 

[maryk]

The unit for rent is for BG SeaBreeze in Daytona Beach. Aug 18 to Aug 22 2Bdrm/2Bath Oceanfront (one king, one queen + softa sleeper).

I really love this resort. Right on the beach, and pool overlooks the ocean.

maryk

 

[OldGuy]

https://daytona.craigslist.org/vac/d/daytona-seabreeze-oceanfron/6922520787.html

RCI has one Extra Vacation for that week (full week), it is a 1-bedroom, and it is $650.

 

[HudsHut]

Mary:
I would place an ad on CraigsList similar to the one posted above, but make sure you have pictures. Daytona - Ocean Front!! in the title. Describe all the amenities of the resort/unit.
Pictures of the ocean, pool, and a nice area of the resort (lobby, front, or view from balcony.)
This ad is well-done: (it's for a 1br)
https://daytona.craigslist.org/vac/d/daytona-beach-reduced-5-nights-1br/6922350330.html
If you get a "one line response", such as "is this still available?", ignore it. They are only trying to get you to reply to get your email, for sale to spammers.
I usually put:
reply by text, and/or emails without a phone number will not receive a reply.
Also place the ad in the TUG classifieds.
Nextdoor.com to advertise to your neighbors.
At work, if you have a bulletin board or classifieds forum.

 

[OldGuy]

Mary:
I would place an ad on CraigsList similar to the one posted above, but make sure you have pictures. Daytona - Ocean Front!! in the title. Describe all the amenities of the resort/unit.
Pictures of the ocean, pool, and a nice area of the resort (lobby, front, or view from balcony.)
This ad is well-done: (it's for a 1br)
https://daytona.craigslist.org/vac/d/daytona-beach-reduced-5-nights-1br/6922350330.html
If you get a "one line response", such as "is this still available?", ignore it. They are only trying to get you to reply to get your email, for sale to spammers.
I usually put:
reply by text, and/or emails without a phone number will not receive a reply.
Also place the ad in the TUG classifieds.
Nextdoor.com to advertise to your neighbors.
At work, if you have a bulletin board or classifieds forum.

Maryk:

I'd be happy to share my CL ad(s) with you, as I'm pretty sure they are all saved. Let me know by PM.

Once I get a sincere inquiry, I ask for a name and home address, then do a few simple things on the Internet to verify the person/people. For those I have not rented to before, it is money order, except in the last one I accepted a personal check because it was far enough in advance and the people checked out well.

Sure, in the 5 timeshare weeks I sold/gave away, there were some easily recognizable flakes, but I still managed to do what needed to be done . . . over time.

OTOH, I am days away from closing a $75,000 sale via CL, and we are down to the money part, and even with all we've gone through, and all the parties have had a chance to get to know each other, that part is still a concern, until it's done and everyone's happy