Owners want money up front first?!

Hello All,

I am brand new to Redweek as a timeshare renter. So far, I have backed out of one transaction because the owner wanted me to Venmo $1600 first, without a written agreement/contract of any kind. She did send me a picture of her first name only, unit number, blurred-out confirmation number on a reservation from the resort. Was this sufficient info prior to sending $$? I wasn't sure, so I backed out. Now, I again find myself in talks with another owner who wants $1800 via Venmo first before adding my name to the reservation. Quite a leap of faith, no? So I ask owners: Do you ask renters to send money first? And if so how do you assure renters that you are legit? Thank you.

There is some degree of risk when online transactions of any kind involve two parties entirely unknown to each other. RedWeek is generally a "safe" site, since only paid members can advertise on it, but it is still always wise to protect yourself as best you can. I will offer below my thoughts and opinion based upon my own direct experience and personal preferences over a few decades now as someone who occasionally rents out weeks that I own and who also occasionally rents a week from someone else. My advice follows, for whatever it's worth:

1. Always first look for listings that are “RedWeek Verified” in your geographic area / time frame / resort of interest to you. This verification provides assurance that the advertiser actually owns what they are advertising for rent and that fact has already been independently confirmed by RedWeek personnel in the "RedWeek Verified" process. Since it costs an advertiser only $10 extra to get their listing "RedWeek Verified", I cannot even begin to understand why advertisers would choose to NOT provide that simple reassurance to prospective renters. That's just being cheap and it is both selfish and inconsiderate, in my personal opinion.

2. If a listing is not a “full service” or “verified” or “verified and protected”, make sure that you at least obtain the name, address and phone number of the person you are dealing with. If all you have from an advertiser is a first name and a redacted copy of an (alleged) "reservation" document of unknown origin and unknown legitimacy, don’t send that person a penny!

3. If the advertiser is unwilling to provide (and sign) a formal rental agreement with all pertinent details of the rental, including a specific cancellation / refund policy, and clear personal identification of the owner / advertiser, unit details, etc. ask yourself why not. Then ask them why not! In my view, if there is no formal rental agreement then you should not proceed with that particular rental at all.

4. I would never send money by Venmo or Zelle to anyone outside of my family. Once sent by Venmo or Zelle, that money is GONE. Ask yourself why the advertiser wants money sent by Venmo or Zelle --- and with no rental agreement! Ask the advertiser to provide an answer to that question too -- before you move on to seek a more responsible, clearly identified and verified owner offering a rental. There are plenty of responsible, communicative owners renting out their weeks, so why get involved at all with unverified advertisers providing far too little information and making unreasonable payment demands?

5. Most owners want to receive full payment for a rental before the actual occupancy. That is an entirely reasonable expectation. However, anyone who wants full payment by Venmo or Zelle without even bothering to provide and sign a rental agreement, fully and clearly identifying themselves as the owner and providing the unit info and cancellation / refund policy in writing is simply NOT someone with whom I personally would ever choose to conduct any business in the first place. Your mileage may vary, as the saying goes.

Just my own views and opinions (which directly reflect my own personal practices over the years --- I "practice what I preach"). To each their own choices and decisions. Proceed with caution and good luck!

Thank you, Ken, for your response.

I've always heard that doing business without a contract is simply bad business. I'm not sure why owners think that this doesn't apply to renting their timeshares.

I agree with this 100%! Why an owner would not spend $10 to get their listing redweek verified is beyond me; however, unfortunately, there are hundreds of listings on red week that are unverified.

Just yesterday, I had an uncomfortable exchange with an owner regarding a property in Aruba. I emailed her and asked why she was not verified as it would make me feel much more comfortable moving forward with the transaction. Her response was flippant to say the least, and she said, "are you going to pay for it?" and told me to stop wasting her time as if I had offended her. Wow! Needless to say, I won't be renting from this person and will use the verified filter in the future.

I am new to RedWeek as well. As an owner looking to rent my week out, I want to be verified. Verified and secure also provides that the payment goes through Redweek and all parties involved are better protected. The fee to the owner is actually $99 for that service, but in my opinion well worth it for the safer transaction.

Hey Cleo!

It's totally normal to be skeptical with the relatively large amount of cash that is being exchanged in a transaction like this! I was too at first. But, this is why we like to buy the "Verified" weeks and our simple rules we follow when renting on Redweek.

Many people don't realize that a "Verified" week is about $300 cheaper than the "Verified and Protected" week. Redweek charges you (the buyer) a big fee for that protected part. We are usually looking for the best deal we can get and that fee counts! What we do is look for a seller that has a long relationship with Redweek. It's listed right there on the rental page. (ie. Member since 2018)

Also, you will get a confirmation within a few days with your name on the reservation so using a payment form that includes a credit card adds another layer of protection. Meaning we don't use Zelle or a payment type that comes straight out of your checking account. Use Paypal or Venmo with a credit card.

Hope that helps!

Hello Cleo, I provide a lease which both the renter and I sign, then I collect the money. The reservation is then made with the resort. Once I transfer the reservation to the renter, I don't control it anymore, so it's important to get the money first. I hope this helps. Cathy, email Lakeliving@charter.net, Royal Haciendas week 6 & 7.

I am having the same issue. I am looking to rent a few nights and they are asking for 50% of payment before seeing any documents. I wish there was a way to verify owners.

bryanl161 wrote:

As an owner looking to rent my week out, I want to be verified. Verified and secure also provides that the payment goes through Redweek and all parties involved are better protected. The fee to the owner is actually $99 for that service, but in my opinion well worth it for the safer transaction.

"Verified" only (i.e., not "verified and "protected") is just $14.99 more than the basic rental listing fee, with NO additional cost to the tenant.

"Verified and protected" however involves additional fees to the tenant, above the rental cost. Additionally, with "verified and protected", no rental payment is released to the owner until 2 days into the actual occupancy dates, something which many owners find unacceptable; YMMV. In short, that "protection" component comes at a cost to the tenant in additional fees and to the owner in timely receipt of payment.

I use the Redweek full service (verified and protected) because it protects both the owner (seller) and buyer (renter). Takes a lot of stress out of the situation as previously mentioned regarding owners wanting money upfront. I don't mind waiting to go get paid because I am confident I will receive the funds as agreed to with Redweek. In addition, Redweek offers a great service (portal to rent timeshares) and I have no problem with them making money on that service especially if they can offer safe predictable transactions for all participants. A win win proposition.

However, if you want flexibility to update your postings (change the dates, days, ....) the full service does not work.

Safe travels

Something else to keep in mind. Sometimes, plans change and the owner can;t use the week. If it is less than 60 days from the reservation date, Redweek will NOT verify that week due to "processing time." They are happy to take your money and let you post your week. It is just the do it yourself option.

Does Redweek provide a rental agreement?

Hi Cathy. Thank you for sharing. Your process makes sense, and I wish the owners I have encountered offered something in writing rather than a mere verbal agreement. I did end up going to Aruba last week but rented via AirBnB instead. It was still fabulous!

Follow these steps and you should be good.

1. sign the rental agreement 2. only purchase the red week verified units 3. or demand that they get it redweek verified before you send the money. 4. Send the money (credit card /paypal/ no wired funds) 5. Owner changes the name on the reservation. You can call the resort to confirm. Enjoy your vacation.

I sold 2 units. I did the owner DIY plan but had the unit verified. It's cheaper I did request the money -- but I have a stripe business account set up for invoicing as I have other businesses. Otherwise your protected with the steps above. In reality -- owners have to worry about chargebacks etc. so sign the rental agreement as the contract is binding.

What i did realize is that if you do full service --- it eliminates a lot of 'lookey lou's' and those who want to negotiate the price...

Sadly that verified only option is now gone too. If you want it verified you are automatically tied into the verified and protected which involves a $99 fee once it is rented and you don't get the rental fee until 2 days after guests arrive. I liked the verified only option for an additional fee.....