How can I rent a timeshare?

John, shouldn't there also be some sort of contract written up between the renter and the rentee? Do you offer a rental contract that both parties sign?

If the renter does not care to use an escrow company he can download a rental contract from www.tstoday.com that includes instructions on how to proceed.

john1671 wrote:

This is a situation where you want to use an escrow company for holding the money. My timeshare closing company provides this service for rentals (as well as escrow for sales).

Our fee is a flat $69 and rent moneys are kept in an escrow account maintained by a local FDIC-iinsured bank. Our conduct with this escrow account is strictly dictated by New Jersey State laws and regulations.

Contact me if I can be of assistance:

Faeth Closing Services Inc. Attn: John Faeth 168 Gould Avenue North Caldwell, NJ 07006 973-699-4118

There is another company that has a deal with redweek.com and is listed on this site. I think they charge $100 for that service.

Thanks!

John

davida102 wrote:

I just contacted an owner about hiis week which I'm intersted in. The owner wants me to pay upfront for his time share week.

I have no problem to pay and the owner should be paid for my use of his week but, it feels uncomfortable to send a check to someone who I don't know. What if he will not keep his word?

What if he does not even own the week? He good vanish as soon as he cash my check....

Please advise how to deal with this situation because I would like to rent his week from him but will not want to cick myself if I lost over $1K.

Regards,

John,

Do you charge $69.00 for the transaction, or $69.00 to each parties ?

Thanks,

jayjay wrote:

John, shouldn't there also be some sort of contract written up between the renter and the rentee? Do you offer a rental contract that both parties sign?

If the renter does not care to use an escrow company he can download a rental contract from www.tstoday.com that includes instructions on how to proceed.

john1671 wrote:

This is a situation where you want to use an escrow company for holding the money. My timeshare closing company provides this service for rentals (as well as escrow for sales).

Our fee is a flat $69 and rent moneys are kept in an escrow account maintained by a local FDIC-iinsured bank. Our conduct with this escrow account is strictly dictated by New Jersey State laws and regulations.

Contact me if I can be of assistance:

Faeth Closing Services Inc. Attn: John Faeth 168 Gould Avenue North Caldwell, NJ 07006 973-699-4118

There is another company that has a deal with redweek.com and is listed on this site. I think they charge $100 for that service.

Thanks!

John

davida102 wrote:

I just contacted an owner about hiis week which I'm intersted in. The owner wants me to pay upfront for his time share week.

I have no problem to pay and the owner should be paid for my use of his week but, it feels uncomfortable to send a check to someone who I don't know. What if he will not keep his word?

What if he does not even own the week? He good vanish as soon as he cash my check....

Please advise how to deal with this situation because I would like to rent his week from him but will not want to cick myself if I lost over $1K.

Regards,

jayjay wrote:

If the renter does not care to use an escrow company he can download a rental contract from www.tstoday.com that includes instructions on how to proceed.

Has anyone purchase the rental contract document kid from www.tstoday.com before? Is it user friendly?

Thanks,

Soon

Jennie has stated that she has used the rental agreement from www.tstoday.com with all her rentals.

soonn

Quote:

Has anyone purchase the rental contract document kid from www.tstoday.com before? Is it user friendly?

Thanks, Soon

Hmmmm. Curious as to why John has not responded again! Anybody have any experience with his Faeth Closing Services ? I have a tendency to distrust someone who does a "post and run" kind of thing, especially if they do business out of North Caldwell, New Jersey! LOL!

Thanks!

jennie wrote:

stanleyf5 wrote:

davide81 wrote:

Hi Jennie,

I took your advice and called RCI about the two banked weeks and the possibility to pay for an extension like you said. They told me no dice that they do not offer that and I was out of luck, needless to say I might be done with them. In the meantime if I loose those weeks, I take that as a learning experience. I was also told that my banked weeks were "blue week" points so my options were limited anyway. With the points which I currently have which are about 700,000 for the year thru Wyndham Resorts. I cannot use all of them and will like to rent what I cannot use. I need advice on the steps to follow if I do this myself.

For instance I am assuming the first step will be to call Wyndham, reserve the weeks I do not need and then place the ads.

How do you deal with paperwork in terms of contracts, security deposits(in the event of damage or whatever else).

Since you are dealing with someone you do not know (renter), how do you handle the transfer of name to this person for when the person goes to check in at the resort.

Please help, I am very "green" at this and looking forward to the challenge.

David

You can extend the experiation date of your RCI banked weeks. The person to whom you spoke at RCI is uninformed. Ask to speak to supervisor, or call the RCI corporate offices and complain. You can go to the frequently asked question on the RCI website and see that you can extend your banked weeks, and what the fees are.

Yes, you can DEFINITELY extend the expiration of weeks deposited with RCI. But why don't you wait until it is much closer to the expiration date. Who knows, they may come up with a match for you before then. If not, have no fear. They will bombard you with Emails, regular mail, and Email messages touting the benefits (and costs) of extending weeks that are about to expire.

Since the deposits you have made are of "blue weeks" it may not even be worth paying any more to seek an exchange. Unless you are willing to accept off season weeks in locations with low demand, you will probably not receive anything you can use. Your best bet is to learn how to do your own on-line searches at the RCI web site. You may see something available that you would not have thought to enter as an on-going search.

I hope I'm correct in assuming that you have entered "on-going searches" for the weeks you want. don't ever rely upon sporadic phone calls to accomplish a dessired trade.

Jennie,

I have a question and I hope that you can help me. I am in the process of posting an ad. I was wondering if you could help me with a standard or rough draft copy of a contract which I can use between myself and the renter. I am thinking something that reflects a deposit before service, security deposit for damages, etc. Something that protects myself and the renter. If you have an idea as to where I can get this, I will be very grateful.

Thanks

I'm not Jennie, but you can download or have snail mailed a rental contract from www.tstoday.com for a small fee.

This is the same rental contract that Jennie uses.

jayjay wrote:

I'm not Jennie, but you can download or have snail mailed a rental contract from www.tstoday.com for a small fee.

This is the same rental contract that Jennie uses.

------------------------------------------------------------------ I, Jennie here. I have used the Timesharing Today Magazine "Document Kits" for years. It contains three complete sets of fill-in-the-blanks lease forms, with worksheets, detailed instructions, and model letters to send to the renter, and notifying the resort. These forms were prepared by the owner of the magazine, who is a practising attorney in New Jersey.

When you arrive at the home page at www.tstoday.com look in the left hand column and you will see "Document Kits" (bright green box). Click on the link to the rental kit there, or go directly to: https://tstoday.com/shop/docKits.aspxand

The cost, if delivered by regular mail, is $10. for 3 kits. The price is even lower if you choose to download it instantly.

(Timesharing Today also sells a "Resale Kit" for $35.00 Use the same link: https://tstoday.com/shop/docKits.aspx)

While you are at the website, you can order a free trial issue of their magazine, which is published 6 times a year. They have great articles that you will not find anywhere else. Their logo is: The Trusted Independent Voice of Vacation Ownership since 1991."

Better yet, consider ordering a one year subscription, which comes with a 100% satisfaction refund guarantee. If you become a subscriber, you will receive a user name and password (which changes every 2 months) that will give you on-line access to all of the articles they have published over 10 plus years.

I have no financial or other connection to this company. I have just been a happy subscriber for 12 years.

Hi All,

Sorry to disappear, made the mistake of forgetting I'm not 18 anymore and the back has been killing me since Saturday afternoon.

Yes, we will do a rental escrow for a total of $69.

The TS today rental forms are good and are fairly worded for all. I too recommend them.

Proably the biggest value we add is taking a few minutes to make sure that the renter FULLY understand what is being rented, understands their obligations, and their expectations match reality. Frankly, spending the extra time to verify the details makes life easier as we avoid escrow disputes.

I have rented units I own since 2002 and find this "full disclosure" approach to be the way to make sure both parties are very happy at the end of the day.

Thanks for reading !!!

John

jennie wrote:

jayjay wrote:

I'm not Jennie, but you can download or have snail mailed a rental contract from www.tstoday.com for a small fee.

This is the same rental contract that Jennie uses.

------------------------------------------------------------------ I, Jennie here. I have used the Timesharing Today Magazine "Document Kits" for years. It contains three complete sets of fill-in-the-blanks lease forms, with worksheets, detailed instructions, and model letters to send to the renter, and notifying the resort. These forms were prepared by the owner of the magazine, who is a practising attorney in New Jersey.

When you arrive at the home page at www.tstoday.com look in the left hand column and you will see "Document Kits" (bright green box). Click on the link to the rental kit there, or go directly to: https://tstoday.com/shop/docKits.aspxand

The cost, if delivered by regular mail, is $10. for 3 kits. The price is even lower if you choose to download it instantly.

(Timesharing Today also sells a "Resale Kit" for $35.00 Use the same link: https://tstoday.com/shop/docKits.aspx)

While you are at the website, you can order a free trial issue of their magazine, which is published 6 times a year. They have great articles that you will not find anywhere else. Their logo is: The Trusted Independent Voice of Vacation Ownership since 1991."

Better yet, consider ordering a one year subscription, which comes with a 100% satisfaction refund guarantee. If you become a subscriber, you will receive a user name and password (which changes every 2 months) that will give you on-line access to all of the articles they have published over 10 plus years.

I have no financial or other connection to this company. I have just been a happy subscriber for 12 years.

Hi Daddyd,

We have lots of happy references that we are eager to share.

We also do all the title work for a large Wyndham resort's homeowners association.

Are you familiar with my town or is that a Jersey joke? - either is perfectly fine :)

Thanks!

John

daddyd wrote:

Hmmmm. Curious as to why John has not responded again! Anybody have any experience with his Faeth Closing Services ? I have a tendency to distrust someone who does a "post and run" kind of thing, especially if they do business out of North Caldwell, New Jersey! LOL!

Thanks!

My wife and I have purchased a resale timeshare at Christmas Mountain Village in Wisconsin Dells, WI, owned by Bluegreen Corp. It is a UDI-type ownership, which entitles us to reserve 3 weeks at a time (actually 4, I guess, under some circumstances), which is far more than we could ever use. So, I want to rent out our excess weeks to offset the annual fees, and I am wondering what is the best way to do this. Redweek? I know I can also reserve a week and then place it for rent directly through Bluegreen, in return for a portion of the rental fee--if they are successful in renting the week. I will appreciate any information anyone may have. Thanks. Mark

Hi Mark I recommend trying to rent it on your own through Redweek, craigslist.org, VRBO or another one I just found that was very user friendly called VacationsFRBO.com. If you get it listed on all these sites well in advance of your deadline, my guess is you would be okay. Then, if it gets close and you don't have it rented you can give it to the realtors at Bluegreen but they will typically charge a huge chunk. Fees are usually 25-35% and it's just highway robbery and inflating rentals for all of us. If you have the time, you can do it yourself. You may also list on the exchange portion of this site for free until March 1. I would get it on asap.

Also, don't discount word of mouth. I have generated lots of interest in renting my condo simply by asking friends and family if they want it. For them I give a really good deal but it's worth it to me; they get to share a piece of my paradise and know why I love it there and they love being there. You can mention it to just about everyone you know at work, at home etc. It felt a little strange at first but most people were quite interested to hear about it and it worked out for me a couple of times. If you have a tight knit neighborhood you could even write up an informal flyer and drop it off to neighbors or put in mailboxes, etc. I hope this helps. Mary

to davida102 - I understand your reluctance but if you think it over, there are several ways you can confirm the information. Have the person fax you their maintenance fee bills showing them as owner, the deed or anything they can to prove they own it. Instead of or preferably in addition, call the resort management office and explain that you are in the process of a private rental and need to confirm that John Doe owns unit X for week Y or whatever.

WIth all due respect to John from NJ (I lived there too for many years and loved it) I have read repeatedly to avoid escrow firms unless you know them. There is a section on craigslist.org titled"avoiding scams & fraud and it says to AVOID escrow services. As an owner I wouldn't see the need for an escrow service for a rental, but probably for a sale.

When I have rented to people in the past, I write up a simple agreement spelling out the terms. I've had my lawyer bless it and it's really very simple and common sense. As the owner, he should treat you as if he is a host and put you in touch with the management company even if you have already made that call. You could download renter's agreements mentioned above and insist that your owner use yours or a comparable one but there must be a contract of some sort. In some states, it's the law that there must be a contract covering any type of real estate transaction or it's null and void.

I hope this helps you. Feel free to put up more specific questions and everyone here is very helpful. Mary

Don't be surprised if when you check in they ask for your credit card to cover damages or long distance calls. That is pretty standard, I think.

maryd108 wrote:

to davida102 - I understand your reluctance but if you think it over, there are several ways you can confirm the information.

When I have rented to people in the past, I write up a simple agreement spelling out the terms.

I hope this helps you. Feel free to put up more specific questions and everyone here is very helpful. Mary

Don't be surprised if when you check in they ask for your credit card to cover damages or long distance calls. That is pretty standard, I think.

Hi davida102,

I am new at this also. I recently rented out two of my Blue Bay Getaway Cancun weeks, just by sending my emails of confirmaiton from the resort when I paid my MFee as prove of ownership. Both renters, one from Canada, and the other is in Taxes, do not have any problem sending me the rents up front.

Hi Mary,

Please share your short simple rental agreement with me, I need it as a templat for my agreement.

I'm having trouble finding how to rent out my timeshare weeks. When I click on timeshare rentals, I get search for rentals. What do I do? thank you.

Edwin Hecker

soonn wrote:

maryd108 wrote:

When I have rented to people in the past, I write up a simple agreement spelling out the terms.

I hope this helps you. Feel free to put up more specific questions and everyone here is very helpful. Mary

Hi Mary,

Please share your short simple rental agreement with me, I need it as a templat for my agreement.

Hi Maryd108,

Please share your short simple rental agreement with me, so I can use it as example (copying yours) for writing one.

Thank you in advance,

Soonn ssng000@yahoo.com

Edwin go here to place your rental ad:

http://www.redweek.com/browse?post=1

edwin103 wrote:

I'm having trouble finding how to rent out my timeshare weeks. When I click on timeshare rentals, I get search for rentals. What do I do? thank you.Edwin Hecker

We have a person interested in renting our timeshare exchange week that we are unable to use. How can we rent it out when your Forum said that it is against RCI's rules? Howard Harshbarger

want to go for 5 days in april/ does any one have royal service included. marv

It's against all exchange company rules to rent/sell an exchanged week. The best thing to do is cancel your exchange (losing your exchange fee) getting your week back into your account for a future trade.

howardh7 wrote:

We have a person interested in renting our timeshare exchange week that we are unable to use. How can we rent it out when your Forum said that it is against RCI's rules? Howard Harshbarger