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First Time Renter

LA_Transplant

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This is the first time I am attempting to rent my unit and would like feedback from more experienced renters.

After listing my unit on Redweek, I have been contacted by a company in Utah called StayPC.com asking about the unit's availability and communicating they had a renter. When I informed them that the unit was still available, they quickly sent me a TimeShare Owner's Agreement listing the parameters of the agreement including an immediate deposit and the rest of the payment made at the end of April for a early July rental. Here are my questions:
  • Has anyone rented through StayPC.com before? What was the experience like?
  • Is it typical for a company like this to send their own rental agreement outlining the payment agreement?
  • Where can I find any samples of rental contracts I might use for this rental? Would you use your own rental agreement as opposed to the company's
  • They also claimed that I could avoid receiving a 1099 from StayPC if a use PayPal or accept credit card payments. Is this typical?
Any additional advice you might provide would be greatly appreciated.
 

VacationForever

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StayPC is a well known rental broker and widely used by folks for rentals and yes, they do have their own rental agreement. I cannot comment on the question of 1099. I haven't done rentals but I am aware of several people who have used them.
 

DeniseM

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I have done many rentals with StarPC and they are very professional and great to work with.

It is completely normal for rental companies to use rental agreements and I always use their's.

  • They also claimed that I could avoid receiving a 1099 from StayPC if a use PayPal or accept credit card payments. Is this typical?
The rent is taxable income - this means that if they issue a check to you, they will issue a 1099. Feel free to choose which ever payment method you are the most comfortable with. The responsibility to report the income on your taxes is your decision.
 

LA_Transplant

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The financial arrangements they outline included final payment 90 days before the rental. Could that ever become a problem?
 

DeniseM

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You should ask them for specifics, but my experience has been that if their renter backs out, they will put the week in their inventory and rent it to someone else.
 

MOXJO7282

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I've also worked with StayPC many times successfully and from my perspective as someone who rents more than 20 + TSs each year I always insist on checks from them because Paypal has the 3% fee to accept their money and that would add up for me to accept those terms. Besides all that gets me is the money a few days to a week faster and is just like paying 3% more in taxes. So check and the money in my account a week later works just fine for me. If I owned one week and this was a one off rental then I'd probably say what Uncle Sam don't know about won't hurt him and use paypal.
 
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