Preferred Rental Agreement and Method of Payment

[SkyBlueWaters]

Newbie here in renting. Listed on redweek for a checkin within a week. Is there a standard form for rental and a preferred form of payment? Trying to get a feel for customs in the marketplace. Thanks for any help.

 

[ronparise]

I dont use a formal agreement, rather I provide the confirmation which gives the renter the "house rules" like check in and check out times. no pets, age requirements and occupancy limits. and I add some notes to the paypal invoice. like these
Notes
This is not a hotel, and there will be no daily maid service.

This reservation guarantees only the specified room category and no specific room/view is guaranteed or implied.

While rare, there may be a maintenance issues while you are occupying the unit. If this happens, you will need to resolve the issue with the resort. . I will not issue any refunds based on maintenance issues with the room.

Valet parking is available at $25 a day. paid at the resort.

The resort will ask for a credit card authorization for a damage deposit. If there is no damage they will not charge the card.

Terms and Conditions
no cancelation no return

 

[SkyBlueWaters]

So you use paypal exclusively? I like the idea of sending a copy of the confirmation.

 

[SkyBlueWaters]

Pardon my questions but I feel so dumb doing DIY online rentals. I am clueless.

 

[MuranoJo]

For samples of rental agreements, go to the top dark navigation bar and select 'Advice.' You'll find a section for rental advice and at the lower portion of that you'll see a few samples of contracts.

Seems people use a variety of rental processes on the BBS--some use no contract at all, some email a summary, some include Ts & Cs in a Paypal invoice, etc. I usually use a simple, two-page rental agreement, and send along a copy of my confirmation as well--just to reassure the renter I truly have the week reserved in my name. And I always use Paypal--it's just quick and easy and so far all of my renters have used it.
Good luck!

 

[TheTimeTraveler]

Pardon my questions but I feel so dumb doing DIY online rentals. I am clueless.

It's not a difficult thing to do. The really difficult part is convincing the potential tenant that you are who you are, and that you are offering what you are offering. Today scams are a real issue and many folks want to be sure that you are not ripping them off.

Now Redweek does offer a service for $79 or so (don't quote me) in which they do all the legwork and handle all the monies for you. I believe it is called "Redweek Verified Service". If the potential tenant feels more comfortable with going that route then let them and try to build the $79 fee into the rental price.

Best of luck!




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[Saintsfanfl]

It's not a difficult thing to do. Now Redweek does offer a service for $79 or so (don't quote me) in which they do all the legwork and handle all the monies for you. I believe it is called "Redweek Verified Service". If the potential tenant feels more comfortable with going that route then let them and try to build the $79 fee into the rental price.

Best of luck!

You are describing Redweek Full Service but it is $180, not $79. It is $79.99 up front and then another $99.99 when it is rented. You also do not get paid until after the rental is completed. To me it's a ripoff

Redweek verified is $14.99 and all they do is take your confirm and call the resort to confirm.

 

[TheTimeTraveler]

You are describing Redweek Full Service but it is $180, not $79. It is $79.99 up front and then another $99.99 when it is rented. You also do not get paid until after the rental is completed. To me it's a ripoff

Redweek verified is $14.99 and all they do is take your confirm and call the resort to confirm.

Thank you for clarifying that! However, $180 may still be a bargain for a novice who doesn't want to deal with it on their own.



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[ronparise]

Its a hard thing to get used to... You are known by the company you keep. and if you deal in timeshares you will be known as a scam artist. Your first order of business is to overcome that reputation and put your customer at ease

I include my name and phone number and email address in my ads, I am a licensed real estate salesperson and I have a website and an online presence that folks can see.. all that builds credibility, and without it its really tough to ask folks to send me their money. Now when I go into my "Im a good guy and can be trusted speech, Im often interrupted with a "dont worry, Ive already checked you out" comment.

 

[Saintsfanfl]

Thank you for clarifying that! However, $180 may still be a bargain for a novice who doesn't want to deal with it on their own.

I guess it depends on what is being rented. Some rentals may only go for $500. The novice also still has to deal with some of it. They have to answer questions from renters that Redweek will relay. They have to answer offers. They have to call the resort and add the renter names and provide confirmation. Redweek can't do those things so there is very little that the novice does not have to deal with. Sending a PayPal money request takes the click of a button. Literally 5 seconds.

The most difficult thing to swallow is not getting paid until after the renter checks out. It gives the renter an opportunity to make a case that they didn't get what they thought they paid for. If the novice is renting out a week 52 that means they won't get paid until a year after they paid the maintence fee. There is also a chance that they won't get paid at all. To me that is crazy.

Prices have to be higher to compensate for these issues and so far I haven't seen renters willing to pay more for these full service rentals. Is it really full service anyway? Not really. It's a service that gives the advantage to the renter but the negatives outweigh the positives for the owner.

 

[MuranoJo]

You are describing Redweek Full Service but it is $180, not $79. It is $79.99 up front and then another $99.99 when it is rented. You also do not get paid until after the rental is completed. To me it's a ripoff

Redweek verified is $14.99 and all they do is take your confirm and call the resort to confirm.

++ Excellent points, including your follow-on message in this thread. The 'newbie' renter will quickly find he/she could have just as well done it all on their own with minimal additional work and not have to pay the Full Service. (And the $14.99 charge to make you 'Redweek Verified' is a joke--it's simple to send them a copy of your reservation to prove this on your own.) As mentioned before in a few posts, there are easy ways to assure a renter that you are honest and will honor your commitment.

I'm not a high-volume renter as some on this BBS, but I have rented for over 15 years now, and not once have I had a renter question the legitimacy of my rental. One guy did say he looked me up on LinkedIn, and I'm sure others have done the same--and good for them.

 

[SkyBlueWaters]

Thanks everyone for your tips. I have advertised in several channels and set up my PayPal and Shoppify accounts.

 

[Sandy VDH]

I do use Paypal for those folks who have to pay by credit card, but as of late I have been using the Banks epayments offerings.

The Canadian Banks has had this for years, called Interact, it works for any bank to any bank.

But finally US networks are finally forming. I belong to Chase which uses ClearXChange. It also includes BofA, Wells Fargo, US Bank, and a few others. There is another called popmoney, but I have only ever received a payment on it once. That is how I discovered it. Turns out it was some linked to my US TD Bank Account.

Now this hasn't been an issue because my primary source of rentals are friends, family and referrals only. I do not advertise and rarely post weeks for rents, only 3 or 4 a year. I usually just fill requests, if possible. But does anyone see any issues using this new form of payment option. There must be some level of trust, because unlike charging it to a CC you can't just call and dispute the charge. But if you remove any trust issues.

I use it with my friends for stuff and love it. Lately I have been using it for those people who know me well who rent units from me. Lower dollar units, not high dollar ones.

 

[TUGBrian]

are a number of free sample rental agreements here:

http://tug2.net/timeshare_advice/tug_timeshare_advice.shtml#renting

 

[MOXJO7282]

I give the renters my name, address, phone number, website, the Marriott reservation number and Marriott's phone number to call to confirm my ownership and the validity of the week and I encourage them to call me. Most don't call me but assume they call Marriott and that almost always suffices. In my 100+ rentals I've only lost 2 because even with this info the renter insisted on Escrow and I said no so they moved on.