I accept personal checks - prefer them
I do year-round vacation rentals - and rent out my timeshares in the same area. I prefer personal checks - as long as there is enough time for the check to clear. I trust a personal check MORE than a money order. This way I have their bank account number and there is an address on the check too. That would match up with the address they gave me. You can also check the name of the bank that is printed on the check by using the routing number to verify. You can even check if they actually have a checking account with the bank - by phone. I've never actually done that though (grin). I always do business with a rental contract.
It's also less hassle for the renter to write a personal check and makes it easier for them to take care of things (with a money order they'd have to go out and buy one with cash).
I also get payment first. About 1/3 to 1/2 with the contract and the rest is due 8 weeks before check-in. I don't ask for ANY money until they have received a written and signed contract from me. Only then do they send money - with the signed contract. Short notice rentals are handled through e-mail attachments with Priority mail for sending money if necessary.
One thing about rentals is that most renters don't even CARE how you hold title to a property. They're not looking to rent A TIMESHARE. They want a week for vacation. In our year-round place I wouldn't even have any 'proof' about a reservation confirmation for the week they want. You should forget that you are renting out a TIMESHARE. You are renting out a week that starts on a specific date and ends on a specific date. If someone is hesitant (understandable) I give them the resort phone number (on our year-round place) and tell them they can confirm that I own there. This hardly happens. I realize there is a huge trust factor involved with ANYTHING you don't handle in person (like buying something at Kmart - you see it, you carry it to the check-out, you pay, you take it with you).
Once the renter is good with the resort and week, then I mention that this is a timeshare building but they are not required to go on any 'tour' - they are 'required' to enjoy their vacation! I have a standard write-up I send with the confirmation and authorization for them to use our timeshare instead of us. The write up warns them of the tour (just say no), how 'tempting' the salesman makes everything sound, yadda, yadda. I then tell them that if they DO go on the 'tour' and end up buying they have 10 days to rescind. I also tell them that they will save thousands if they buy a timeshare on the resale market and I'd be happy to talk to them about how to do that if that's what they want to do (I also mention that they should talk to me about buying a timeshare at the resort they stay at if they fall in love with it - because I have one there - grin). I also tell them that if they get harrassed to take the tour, they should call me and I would take care of that. I've never gotten a call about that. Most of the people just so 'no' to the tour, or if they take it, they know they don't have to buy.
Until I get final payment on a rental I NEVER change the name on the reservation.
With my craigslist rentals, I only accept PayPal or a USPS money order. I usually get the payment first, but if the renter insists on a reservation confirmation first, I get it to them. I can always cancel it if the payment doesn't come through.
Also, beware of the scammers requesting to rent your unit. They're pretty easy to spot...they don't mention specifics and they're usually some captain of industry in another country wanting to rent it as gift for a relative.
