rental payment transaction

I am about to list our week for rent for the first time. I am wondering about this new "timeshare escrow" vs. a private transaction for securing the rental agreement. Would appreciate any info others may have regarding experience in completing the transaction and is it advisable to use the timeshare escrow? Or is Pay Pal the best way to go? I have read through all the discussions on this thread and it looks like Phil was not happy w/Pay Pal... Thanks for any help! We are owners at the Maui Ocean Club and want to get our week up and posted asap...we are new at this and grateful for all the other info...just need some help with best way to secrue payment aloha, mccabin

mccabin wrote:

I am about to list our week for rent for the first time. I am wondering about this new "timeshare escrow" vs. a private transaction for securing the rental agreement. Would appreciate any info others may have regarding experience in completing the transaction and is it advisable to use the timeshare escrow? Or is Pay Pal the best way to go? I have read through all the discussions on this thread and it looks like Phil was not happy w/Pay Pal... Thanks for any help! We are owners at the Maui Ocean Club and want to get our week up and posted asap...we are new at this and grateful for all the other info...just need some help with best way to secrue payment aloha, mccabin

If you have been reading these discussion, you have probably seen some of the suggested contracts. Most do not seem to use escrow but you can if it makes you feel more comfortable. Don't put the week in the renter's name until you have the full payment in hand, however you choose to get it. Cashier's checks, postal money orders, etc. are usually good. Get them far enough ahead to have them clear before check in. Still, if it bounces while they are vacationing, you can bounce them, so would they take that chance? Just don't accept payment in excess of what you are asking and agree to send the change to someone! That really IS a scam! MD

mccabin wrote:

I am about to list our week for rent for the first time. I am wondering about this new "timeshare escrow" vs. a private transaction for securing the rental agreement. Would appreciate any info others may have regarding experience in completing the transaction and is it advisable to use the timeshare escrow? Or is Pay Pal the best way to go? I have read through all the discussions on this thread and it looks like Phil was not happy w/Pay Pal... Thanks for any help! We are owners at the Maui Ocean Club and want to get our week up and posted asap...we are new at this and grateful for all the other info...just need some help with best way to secrue payment aloha, mccabin

You've already been given some good advice which I need not repeat in response to your inquiry.

However, in specific regard to PayPal, my suggestion is NOT to make it a requirement for any renter to pay for the rental by PayPal. People are slowly (but correctly) learning (unfortunately, sometimes the hard way....) that PayPal affords the renter absolutely no protection whatsoever in a "non-tangibles" transaction. In a "non-tangibles" transaction (and a rental is indeed regarded as a non-tangibles transaction) PayPal guarantees that the recipient gets paid, but PayPal guarantees absolutely NOTHING for the person actually parting with their money --- except that their money is indeed GONE. Quite a one sided arrangement, which a smart renter should summarily refuse to accept.

My point is that if I was interested in renting a week and the owner insisted upon PayPal as the only accepted method of payment, my own reply to that requirement would be.... "No thank you, goodbye". I would (actually, I hereby openly do) recommend that a prospective renter NEVER agree to use PayPal to pay for ANY rental under ANY circumstances.

That all said, there are certainly alternatives to PayPal which can satisfy the protection and comfort levels of BOTH owner and renter, several mentioned here already. One benefit of an escrow service is that it places an objective third party in the middle of the transacation. The down side, of course, is that there are costs associated with employing that service. Good luck.

adahiscout wrote:

mccabin wrote:

I am about to list our week for rent for the first time. I am wondering about this new "timeshare escrow" vs. a private transaction for securing the rental agreement. Would appreciate any info others may have regarding experience in completing the transaction and is it advisable to use the timeshare escrow? Or is Pay Pal the best way to go? I have read through all the discussions on this thread and it looks like Phil was not happy w/Pay Pal... Thanks for any help! We are owners at the Maui Ocean Club and want to get our week up and posted asap...we are new at this and grateful for all the other info...just need some help with best way to secrue payment aloha, mccabin

=========

If you have been reading these discussion, you have probably seen some of the suggested contracts. Most do not seem to use escrow but you can if it makes you feel more comfortable. Don't put the week in the renter's name until you have the full payment in hand, however you choose to get it. Cashier's checks, postal money orders, etc. are usually good. Get them far enough ahead to have them clear before check in. Still, if it bounces while they are vacationing, you can bounce them, so would they take that chance? Just don't accept payment in excess of what you are asking and agree to send the change to someone! That really IS a scam! MD

ken1193 wrote:

mccabin wrote:

I am about to list our week for rent for the first time. I am wondering about this new "timeshare escrow" vs. a private transaction for securing the rental agreement. Would appreciate any info others may have regarding experience in completing the transaction and is it advisable to use the timeshare escrow? Or is Pay Pal the best way to go? I have read through all the discussions on this thread and it looks like Phil was not happy w/Pay Pal... Thanks for any help! We are owners at the Maui Ocean Club and want to get our week up and posted asap...we are new at this and grateful for all the other info...just need some help with best way to secrue payment aloha, mccabin

=======================================

You've already been given some good advice which I need not repeat in response to your inquiry.

However, in specific regard to PayPal, my suggestion is NOT to make it a requirement for any renter to pay for the rental by PayPal. People are slowly (but correctly) learning (unfortunately, sometimes the hard way....) that PayPal affords the renter absolutely no protection whatsoever in a "non-tangibles" transaction. In a "non-tangibles" transaction (and a rental is indeed regarded as a non-tangibles transaction) PayPal guarantees that the recipient gets paid, but PayPal guarantees absolutely NOTHING for the person actually parting with their money --- except that their money is indeed GONE. Quite a one sided arrangement, which a smart renter should summarily refuse to accept.

My point is that if I was interested in renting a week and the owner insisted upon PayPal as the only accepted method of payment, my own reply to that requirement would be.... "No thank you, goodbye". I would (actually, I hereby openly do) recommend that a prospective renter NEVER agree to use PayPal to pay for ANY rental under ANY circumstances.

That all said, there are certainly alternatives to PayPal which can satisfy the protection and comfort levels of BOTH owner and renter, several mentioned here already. One benefit of an escrow service is that it places an objective third party in the middle of the transacation. The down side, of course, is that there are costs associated with employing that service. Good luck.

Thank you so much MD for your response. Yes, I read way into responses to educate myself and will definitely do a rental agreement. There are some good ones here to choose from. Thanks for the GOOD idea to NOT put the renters name on the reserv. till all the money is clear...I have just added that to my notes! Lot's to learn but fun and so much good info out here on Redweek! mccabin

======== You are welcome. It occurs to me that one thing you need to be sure of is that the person you rent to understands the number of persons who may inhabit a particular unit. Some resorts are quite particular about this. Renters who want to "overstuff" are also not likely to be considerate of your unit. (And in the last analysis, you are responsible.) I liked a contract JayJay posted because it required them to enumerate the persons coming. In some cases, it is also helpful to know ages genders, and relationships even if you don't know names. It certainly helps YOU to make a realistic unit recommendation! Sometimes it is like pulling teeth to get all the necessary information out of people.

Folks looking for a place to rent may be dealing with a number of owners at the same time and you may be dealing with more than one potential renter. It is a good idea to put a time limit on offers and counter offers, so that you don't find yourself hanging on to your unit for someone who has rented elsewhere without letting you know.

Last year I had a valuable Daytona week and sent a standard contract to a potential renter for her inspection and/or action. She had offered less than my asking price and I had made a counter offer. Time passed with no response in spite of e-mai queries from me and a looming check-in date. I finally gave up and accepted another bid. Thought it was common courtesy to let her know. AND SHE WAS MAD! Even though she never agreed to a price or even acknowledge having received the contract! (Were the contract and check in the mail? Heck, no, or I would have felt badly.) MD

adahiscout wrote:

Thank you so much MD for your response. Yes, I read way into responses to educate myself and will definitely do a rental agreement. There are some good ones here to choose from. Thanks for the GOOD idea to NOT put the renters name on the reserv. till all the money is clear...I have just added that to my notes! Lot's to learn but fun and so much good info out here on Redweek! mccabin

======== You are welcome. It occurs to me that one thing you need to be sure of is that the person you rent to understands the number of persons who may inhabit a particular unit. Some resorts are quite particular about this. Renters who want to "overstuff" are also not likely to be considerate of your unit. (And in the last analysis, you are responsible.) I liked a contract JayJay posted because it required them to enumerate the persons coming. In some cases, it is also helpful to know ages genders, and relationships even if you don't know names. It certainly helps YOU to make a realistic unit recommendation! Sometimes it is like pulling teeth to get all the necessary information out of people.

Folks looking for a place to rent may be dealing with a number of owners at the same time and you may be dealing with more than one potential renter. It is a good idea to put a time limit on offers and counter offers, so that you don't find yourself hanging on to your unit for someone who has rented elsewhere without letting you know.

Last year I had a valuable Daytona week and sent a standard contract to a potential renter for her inspection and/or action. She had offered less than my asking price and I had made a counter offer. Time passed with no response in spite of e-mai queries from me and a looming check-in date. I finally gave up and accepted another bid. Thought it was common courtesy to let her know. AND SHE WAS MAD! Even though she never agreed to a price or even acknowledge having received the contract! (Were the contract and check in the mail? Heck, no, or I would have felt badly.) MD

MD, Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin

mccabin wrote:

adahiscout wrote:

Thank you so much MD for your response. Yes, I read way into responses to educate myself and will definitely do a rental agreement. There are some good ones here to choose from. Thanks for the GOOD idea to NOT put the renters name on the reserv. till all the money is clear...I have just added that to my notes! Lot's to learn but fun and so much good info out here on Redweek! mccabin

========

You are welcome. It occurs to me that one thing you need to be sure of is that the person you rent to understands the number of persons who may inhabit a particular unit. Some resorts are quite particular about this. Renters who want to "overstuff" are also not likely to be considerate of your unit. (And in the last analysis, you are responsible.) I liked a contract JayJay posted because it required them to enumerate the persons coming. In some cases, it is also helpful to know ages genders, and relationships even if you don't know names. It certainly helps YOU to make a realistic unit recommendation! Sometimes it is like pulling teeth to get all the necessary information out of people.

Folks looking for a place to rent may be dealing with a number of owners at the same time and you may be dealing with more than one potential renter. It is a good idea to put a time limit on offers and counter offers, so that you don't find yourself hanging on to your unit for someone who has rented elsewhere without letting you know.

Last year I had a valuable Daytona week and sent a standard contract to a potential renter for her inspection and/or action. She had offered less than my asking price and I had made a counter offer. Time passed with no response in spite of e-mai queries from me and a looming check-in date. I finally gave up and accepted another bid. Thought it was common courtesy to let her know. AND SHE WAS MAD! Even though she never agreed to a price or even acknowledge having received the contract! (Were the contract and check in the mail? Heck, no, or I would have felt badly.) MD

MD, Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin ========== You should probably make it clear to the inquirer that you will accept the first bid that meets your advertised price. Therefore, they should let you know by phone or e-mail if they are putting the contract and payment in the mail so that you can hold it for them. If you have agreed to a reduced price, this goes double in spades! MD

adahiscout wrote:

mccabin wrote:

adahiscout wrote:

Thank you so much MD for your response. Yes, I read way into responses to educate myself and will definitely do a rental agreement. There are some good ones here to choose from. Thanks for the GOOD idea to NOT put the renters name on the reserv. till all the money is clear...I have just added that to my notes! Lot's to learn but fun and so much good info out here on Redweek! mccabin

========

You are welcome. It occurs to me that one thing you need to be sure of is that the person you rent to understands the number of persons who may inhabit a particular unit. Some resorts are quite particular about this. Renters who want to "overstuff" are also not likely to be considerate of your unit. (And in the last analysis, you are responsible.) I liked a contract JayJay posted because it required them to enumerate the persons coming. In some cases, it is also helpful to know ages genders, and relationships even if you don't know names. It certainly helps YOU to make a realistic unit recommendation! Sometimes it is like pulling teeth to get all the necessary information out of people.

Folks looking for a place to rent may be dealing with a number of owners at the same time and you may be dealing with more than one potential renter. It is a good idea to put a time limit on offers and counter offers, so that you don't find yourself hanging on to your unit for someone who has rented elsewhere without letting you know.

Last year I had a valuable Daytona week and sent a standard contract to a potential renter for her inspection and/or action. She had offered less than my asking price and I had made a counter offer. Time passed with no response in spite of e-mai queries from me and a looming check-in date. I finally gave up and accepted another bid. Thought it was common courtesy to let her know. AND SHE WAS MAD! Even though she never agreed to a price or even acknowledge having received the contract! (Were the contract and check in the mail? Heck, no, or I would have felt badly.) MD

MD, Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin

MD,

MORE good info and things to consider in our rental contract! I do have a ?....once the agreement is under way, $$ paid...I will call the MOC and put our renters on as our guests, correct...I am NOT going to just remove our name from this recerv in case they bail later on, right? Also, I can easily email/send them the reservation info, but I am just not comfortable giving out the conf. # until all the $$ is paid. A LOT can be done to a reserv. w/a conf.#!! Thanks for any thoughts, mccabin

mccabin wrote:

Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin

MD,

MORE good info and things to consider in our rental contract! I do have a ?....once the agreement is under way, $$ paid...I will call the MOC and put our renters on as our guests, correct...I am NOT going to just remove our name from this recerv in case they bail later on, right? Also, I can easily email/send them the reservation info, but I am just not comfortable giving out the conf. # until all the $$ is paid. A LOT can be done to a reserv. w/a conf.#!! Thanks for any thoughts, mccabin ====== Hmmmmmmm. I have sometimes sent the rentee (?) a copy of the reservation in my name to prove that I have it. This is especially important in the case of a hard to get week like the Daytona 500. They go for well above maintenance fees and I really don't expect some stranger to just take my word that I have it. When payment is made in two parts, the first half is usually not refundable. When the final payment come, I have the unit confirmed in the guest's name and sent to him directly if the resort will do this. Now and then you get into a last minute situation with lots of e-mail and FAX flying around!

Remember, you are in less danger of being scamed than the renter is. If he uses your week, you know exactly where to find him! MD MD

adahiscout wrote:

mccabin wrote:

Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin

========== You should probably make it clear to the inquirer that you will accept the first bid that meets your advertised price. Therefore, they should let you know by phone or e-mail if they are putting the contract and payment in the mail so that you can hold it for them. If you have agreed to a reduced price, this goes double in spades! MD

MD,

MORE good info and things to consider in our rental contract! I do have a ?....once the agreement is under way, $$ paid...I will call the MOC and put our renters on as our guests, correct...I am NOT going to just remove our name from this recerv in case they bail later on, right? Also, I can easily email/send them the reservation info, but I am just not comfortable giving out the conf. # until all the $$ is paid. A LOT can be done to a reserv. w/a conf.#!! Thanks for any thoughts, mccabin ====== Hmmmmmmm. I have sometimes sent the rentee (?) a copy of the reservation in my name to prove that I have it. This is especially important in the case of a hard to get week like the Daytona 500. They go for well above maintenance fees and I really don't expect some stranger to just take my word that I have it. When payment is made in two parts, the first half is usually not refundable. When the final payment come, I have the unit confirmed in the guest's name and sent to him directly if the resort will do this. Now and then you get into a last minute situation with lots of e-mail and FAX flying around!

Remember, you are in less danger of being scamed than the renter is. If he uses your week, you know exactly where to find him! MD MD

MD...the good info from you keeps flowing in. I have been working on our rental agreement. Our son suggests we have our attorney look the agreement over for final tweaking. What do you think about this? Yes, and expense, but perhaps worth it in the long run.

Still have a ?? about this reservation confirmation. If the renter wants a copy of it (we can understand why they might ~ to make sure we are legit) BEFORE the final payment is made, I would agree to send it to them with the conf. # blacked out....just feel unsure about giving them the whole thing before they pay for it...more secure to not give out the conf. # till they make final payment. Thanks for input! mccabin

mccabin wrote:

Still have a ?? about this reservation confirmation. If the renter wants a copy of it (we can understand why they might ~ to make sure we are legit) BEFORE the final payment is made, I would agree to send it to them with the conf. # blacked out....just feel unsure about giving them the whole thing before they pay for it...more secure to not give out the conf. # till they make final payment. Thanks for input! mccabin

Repeat info from same question on another forum:

After your renters have made a deposit on your rental property, and if you feel comfortable with the communication (vibes) from your renters, I don't see any need to withhold reservation/confirmation information from them.

If, for some reason, they do not follow through by paying the balance 60 days before the check-in date, you can then cancel the reservation that's in their name and explain why you did so to the resort.

mccabin wrote:

adahiscout wrote:

mccabin wrote:

Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin

========== You should probably make it clear to the inquirer that you will accept the first bid that meets your advertised price. Therefore, they should let you know by phone or e-mail if they are putting the contract and payment in the mail so that you can hold it for them. If you have agreed to a reduced price, this goes double in spades! MD

MD,

MORE good info and things to consider in our rental contract! I do have a ?....once the agreement is under way, $$ paid...I will call the MOC and put our renters on as our guests, correct...I am NOT going to just remove our name from this recerv in case they bail later on, right? Also, I can easily email/send them the reservation info, but I am just not comfortable giving out the conf. # until all the $$ is paid. A LOT can be done to a reserv. w/a conf.#!! Thanks for any thoughts, mccabin

Remember, you are in less danger of being scamed than the renter is. If he uses your week, you know exactly where to find him! MD MD

MD...the good info from you keeps flowing in. I have been working on our rental agreement. Our son suggests we have our attorney look the agreement over for final tweaking. What do you think about this? Yes, and expense, but perhaps worth it in the long run.

Still have a ?? about this reservation confirmation. If the renter wants a copy of it (we can understand why they might ~ to make sure we are legit) BEFORE the final payment is made, I would agree to send it to them with the conf. # blacked out....just feel unsure about giving them the whole thing before they pay for it...more secure to not give out the conf. # till they make final payment. Thanks for input! mccabin

Why not use a Vacation Rental Escrow Service? http://www.redweek.com/help/rental_process/escrow/. It would cost both you and the renter $50 each and would give each of you piece of mind.

Thanks, Marty

marty8084 wrote:

mccabin wrote:

adahiscout wrote:

mccabin wrote:

Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin

========== You should probably make it clear to the inquirer that you will accept the first bid that meets your advertised price. Therefore, they should let you know by phone or e-mail if they are putting the contract and payment in the mail so that you can hold it for them. If you have agreed to a reduced price, this goes double in spades! MD

MD,

MORE good info and things to consider in our rental contract! I do have a ?....once the agreement is under way, $$ paid...I will call the MOC and put our renters on as our guests, correct...I am NOT going to just remove our name from this recerv in case they bail later on, right? Also, I can easily email/send them the reservation info, but I am just not comfortable giving out the conf. # until all the $$ is paid. A LOT can be done to a reserv. w/a conf.#!! Thanks for any thoughts, mccabin

====== Hmmmmmmm. I have sometimes sent the rentee (?) a copy of the reservation in my name to prove that I have it. This is especially important in the case of a hard to get week like the Daytona 500. They go for well above maintenance fees and I really don't expect some stranger to just take my word that I have it. When payment is made in two parts, the first half is usually not refundable. When the final payment come, I have the unit confirmed in the guest's name and sent to him directly if the resort will do this. Now and then you get into a last minute situation with lots of e-mail and FAX flying around!

Remember, you are in less danger of being scamed than the renter is. If he uses your week, you know exactly where to find him! MD MD

MD...the good info from you keeps flowing in. I have been working on our rental agreement. Our son suggests we have our attorney look the agreement over for final tweaking. What do you think about this? Yes, and expense, but perhaps worth it in the long run.

Still have a ?? about this reservation confirmation. If the renter wants a copy of it (we can understand why they might ~ to make sure we are legit) BEFORE the final payment is made, I would agree to send it to them with the conf. # blacked out....just feel unsure about giving them the whole thing before they pay for it...more secure to not give out the conf. # till they make final payment. Thanks for input! mccabin

Why not use a Vacation Rental Escrow Service? http://www.redweek.com/help/rental_process/escrow/. It would cost both you and the renter $50 each and would give each of you piece of mind.

Thanks, Marty

We will consider that as an option and thank you for your input! mccabin

mccabin wrote:

adahiscout wrote:

mccabin wrote:

Once again thanks for your helpful input. I have been working on a rental contract for a couple days now...looked over several found on these forums and we have typed one up we feel pretty comfortable with. I did put and area in there for MAX # of guests, but now with your suggestion may need to ask for age groups...how many adults, how many children, etc. The Maui Ocean Club does have restrictions on # of occupants...the 2BR 3Bath has a max of 8 or there will be penalities!

Also, we like the idea of a time clause for completing the rental....maybe give 'em 2 weeks to get the agreement signed and back to us or it is off?? We have put a date when the final payment is due...60 days b/4 rental time.

We have owned there for 6 yrs and love it...this is our first time for renting out a unit! yikes it can be scary! mccabin

========== You should probably make it clear to the inquirer that you will accept the first bid that meets your advertised price. Therefore, they should let you know by phone or e-mail if they are putting the contract and payment in the mail so that you can hold it for them. If you have agreed to a reduced price, this goes double in spades! MD

MD,

MORE good info and things to consider in our rental contract! I do have a ?....once the agreement is under way, $$ paid...I will call the MOC and put our renters on as our guests, correct...I am NOT going to just remove our name from this recerv in case they bail later on, right? Also, I can easily email/send them the reservation info, but I am just not comfortable giving out the conf. # until all the $$ is paid. A LOT can be done to a reserv. w/a conf.#!! Thanks for any thoughts, mccabin

Remember, you are in less danger of being scamed than the renter is. If he uses your week, you know exactly where to find him! MD MD

MD...the good info from you keeps flowing in. I have been working on our rental agreement. Our son suggests we have our attorney look the agreement over for final tweaking. What do you think about this? Yes, and expense, but perhaps worth it in the long run.

Still have a ?? about this reservation confirmation. If the renter wants a copy of it (we can understand why they might ~ to make sure we are legit) BEFORE the final payment is made, I would agree to send it to them with the conf. # blacked out....just feel unsure about giving them the whole thing before they pay for it...more secure to not give out the conf. # till they make final payment. Thanks for input! mccabin =======

I don't think knowing a reservation number will get the renter anywhere if it has not yet been put into his name. And only the owner can do that. MD

adahiscout wrote:

Thank you so much MD for your response. Yes, I read way into responses to educate myself and will definitely do a rental agreement. There are some good ones here to choose from. Thanks for the GOOD idea to NOT put the renters name on the reserv. till all the money is clear...I have just added that to my notes! Lot's to learn but fun and so much good info out here on Redweek! mccabin

======== You are welcome. It occurs to me that one thing you need to be sure of is that the person you rent to understands the number of persons who may inhabit a particular unit. Some resorts are quite particular about this. Renters who want to "overstuff" are also not likely to be considerate of your unit. (And in the last analysis, you are responsible.) I liked a contract JayJay posted because it required them to enumerate the persons coming. In some cases, it is also helpful to know ages genders, and relationships even if you don't know names. It certainly helps YOU to make a realistic unit recommendation! Sometimes it is like pulling teeth to get all the necessary information out of people.

Folks looking for a place to rent may be dealing with a number of owners at the same time and you may be dealing with more than one potential renter. It is a good idea to put a time limit on offers and counter offers, so that you don't find yourself hanging on to your unit for someone who has rented elsewhere without letting you know.

Last year I had a valuable Daytona week and sent a standard contract to a potential renter for her inspection and/or action. She had offered less than my asking price and I had made a counter offer. Time passed with no response in spite of e-mai queries from me and a looming check-in date. I finally gave up and accepted another bid. Thought it was common courtesy to let her know. AND SHE WAS MAD! Even though she never agreed to a price or even acknowledge having received the contract! (Were the contract and check in the mail? Heck, no, or I would have felt badly.) MD Could you let me know where the post is that Jay Jay had in regards to a rental agreement

Thank you

geraldinek9[Could you let me know where the post is that Jay Jay had in regards to a rental agreement. Thank you[/Q]

SAMPLE RENTAL AGREEMENT

RESERVATIONS - Upon mutual agreement of unit rental, a ____% deposit must be made to confirm your reservation. Balance is due upon written confirmation or no later than _________, 2007. Payment is to be made with a bankcheck/draft (or a personal check if you accept that mode).

CANCELLATIONS - No cancellation allowed once a reservation has been made.

CHECK-IN/OUT - Check-in time is _____ P.M. on arrival date of __________, 2007. Check-out time is _____A.M. on date of departure of_________, 2007. Any exceptions must have prior approval from the owner and/or resort. The agreed upon rental price for the above stated timeframe or week of ______, 2007 is ________$ for unit number ____ at _________ (resort).

RULES AND REGULATIONS - Upon check-in, you must present a credit card to the front desk personnel, just like when you rent a hotel room. YOU are responsible for any damage, loss or theft incurred while renting this property. Any damage, which is not considered normal wear and tear, loss or theft caused by you, the renter, may be charged to your credit card. In order to reserve the integrity of the unit, we ask that it be occupied in a quiet and dignified manner. As guests of ______________(resort), you are expected to respect the premises and its contents and guard against damage, loss or theft. You are expected to adhere to all of _______________(resort) rules and regulations. The _____________ (resort), its employees and property owners will not be held libel for any claims, suits, damages, costs, losses and/or expenses arising from injury to any person or property occurring on the premises resulting from/relating to rental of this property. The renter must be at least 21 years of age and agrees not to sub-rent this unit. The rental rights acquired from this rental agreement are non-transferable.

TELEPHONE - All telephone calls, toll calls etc. will be billed to your credit card. NO PETS ALLOWED AT______________ (RESORT) AND NO SMOKING ALLOWED IN THE UNITS. A copy of this rental agreement is hereby acknowledged by both parties.

_________________ _________________ Signature of renter Signature of owner

Name, address, phone Name, address, phone __________________ __________________

Thanks Jay Jay, I really do appreciate it and thanks everyone for all the information. I just bought resale a HGVC Flamingo 5000 points gold season. It came with points from 2007 and so in viewing things available there was a week available at the HGVC at the Las Vegas Hilton on Karen Dr. 1 block from the strip for New Year's Eve, 1 bedroom. So I reserved using the 2007 points. So I'm thinking about renting it out, if not no big deal, I'll go, but prefer to rent it. Again, thanks for everyone's input

geraldinek9 wrote:

Thanks Jay Jay, I really do appreciate it and thanks everyone for all the information. I just bought resale a HGVC Flamingo 5000 points gold season. It came with points from 2007 and so in viewing things available there was a week available at the HGVC at the Las Vegas Hilton on Karen Dr. 1 block from the strip for New Year's Eve, 1 bedroom. So I reserved using the 2007 points. So I'm thinking about renting it out, if not no big deal, I'll go, but prefer to rent it. Again, thanks for everyone's input

You shouldn't have any problem renting your New Years week in Vegas, depending on your asking price.