Renting Owned Weeks

[ACP]

I am hoping to rent out two different weeks which I own in October next year, one in Paris the other in Spain. It looks as if I have secured interested parties. I made reservations through Marriott but obviously they are in my name.

Can you please advise what, if anything I need to do now, I assume I have to transfer the weeks to the people who are staying, if so how is this done and is there a charge please.

 

[DeniseM]

You have to call Marriott reservations, with your guest's name, and request a new confirmation. They will email it to you, and you can forward it to the guest.

If the rental falls through, you can put the reservation back in your own name.

I'm only saying this because there are a lot of rental scams out there - what method are you using to accept payment?

 

[ACP]

You have to call Marriott reservations, with your guest's name, and request a new confirmation. They will email it to you, and you can forward it to the guest.

If the rental falls through, you can put the reservation back in your own name.

I'm only saying this because there are a lot of rental scams out there - what method are you using to accept payment?

Thanks for the advise. One is to a friend so I feel confident about the payment, the other will pay via PayPal, at least six months before the rental starts, so hopefully will all be OK

 

[DeniseM]

Thanks for the advise. One is to a friend so I feel confident about the payment, the other will pay via PayPal, at least six months before the rental starts, so hopefully will all be OK

That is a good plan - scammers don't usually want to use Paypal.

 

[jme]

I know you mentioned payment already, but I wanted to reiterate that it's important to get payment immediately before you do anything further, ensuring a commitment from your renters (whether friend or stranger). Highly suggest a signed contract expounding YOUR terms (whether renter is friend or not).

Also suggest full price now (non-refundable), but other reasonable option is half now and other half 1-2 months prior to check-in, with first half-payment non-refundable. Stuff happens, and you don't want to be found lacking.

No one who is genuinely interested and trustworthy should be opposed to a contract, as it protects both parties. Good luck, we've always had good experiences renting (to and from).

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EDIT: thanks Denise, you're exactly right...... in hindsight, 1-2 months before check-in is indeed too long to wait. I was thinking of the one time I did do that---- one time due to extenuating circumstances of a friend, all others were full price up-front. I do insist on contracts though, as it does have the effect on the renting party that it mentally reminds them that it's "enforceable", and that is a good deterrent to defaulting, and prompts payment in a timely manner as specified in the contract by a definite date (usually a week or so away from initial verbal commitment). thx


.

 

[DeniseM]

I certainly would not wait 1-2 mos. before check-in to get the final payment. If they default on the rental, you may not have enough time to re-rent it.

I collect a $100 deposit, send the confirmation, and then the final payment is due in full.

I absolutely agree that you need to have clear rental terms, but a contract really doesn't really provide any protection unless you would be willing to sue the other party to enforce the contract.

 

[suzannesimon]

I get 50 percent upfront, put the reservation in the renter's name and get the balance 90 days before occupancy. If the balance never comes in, I can try to re-rent it for a couple weeks and still have the option to deposit it in II before it gets to the 60 days deadline there. I use the TUG rental agreement.