Renting Timeshare. How Do I Prevent Being Ripped Off?

[glenh Junior Member Find all posts View Profile Close glenh]

I have never rented a timeshare from a private party before. How can I be sure that I am not scammed by someone who doesn't own the timeshare that they are trying to rent to me? How can I protect myself from other scams when it comes to renting timeshares?

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

The most effective way is to insist on using a respected escrow agent for your rental transaction. The cost is normally relatively minor (most charge around $100). The escrow firm will hold all funds until the check in day.

Another option is to purchase a travel insurance policy that protects you from supplier default. This can often be difficult to find when you are dealing with a rental from an individual rather than a company, but many of the most active timeshare rental companies can provide you with a trip insurance policy from a third party company.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Unfortunately, after 40 years this is the state of the industry.

The first thing, or near the top, associated with timeshare is getting ripped off.

I believe that's why so few respond to my offerings. I have a luxury condo available at less than cheesey motel prices, but the general public opts for the cheesey motel first. The general public is scared to death a timeshare owner will do to them what the timeshare industry does to the timeshare owner.

They are also scared to death someone will hound them to buy if they set foot on a timeshare resort, ala Wastegate, and others..

Sad.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

It helps to rent from someone with a good reputation in timeshareworld. Though the first time I rented from someone it was on ebay, and we liked the place so much we bought one (resale). You can always ask for a copy of the owner's reservation before sending payment. Some owners may agree to put a reservation in your name upon receipt of a small deposit (or signed agreement). I don't know of anyone I can think of who got ripped off being a renter. A different world than buying/selling. I have been renting my Hawaii week out for MFs the last few years, with no trouble. Just be sure you are renting an owned week and not an RCI exchange - those aren't allowed, RCI monitors the ads and cancels rented exchanges.

[brother coony Senior Member Find all posts View Profile Close brother coony]

Redweek.com does escrow service, both party I think pays $50.00 I have been renting out my unites for the past 6 years and never use a escrow service and never have a problem with a renter or them with me,
You can Always call the resort and check on ownership, most resort will give you info such as yes he or she owns week so and so

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Redweek itself does not operate as an escrow agent. First American Title is the escrow agent associated with that website. Most timeshare closing agents offer a similar product.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Redweek.com does escrow service, both party I think pays $50.00 I have been renting out my unites for the past 6 years and never use a escrow service and never have a problem with a renter or them with me,
You can Always call the resort and check on ownership, most resort will give you info such as yes he or she owns week so and so

I am with brother - I do not use an escrow service - I give my renter a written confirmation of the reservation with their name on it.
I get full payment upfront and the renter and I sign a rental contract that says there is no refund. I recommend strongly that the renter take an accessamerica.com policy (about $60) to cover their rental if they have to cancel because of illness, death or work situation.

When u rent from an owner, you are getting the accommodations for half if not less then renting thru the resort. There are risks you have to take but if you get everything in writing and confirm with the timeshare there should be no problem.

I would not rent to someone who wants to use an escrow service as I do not get paid before the rental and the renter can back out at the last minute & get their money back - leaving me with a unit I can not rent or deposit in an exchange company.

If you want/need the security of last minute cancellation, use the hotel/timeshare website and pay full price - it is a trade off and it is entirely your choice..

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

I am with brother - I do not use an escrow service - I give my renter a written confirmation of the reservation with their name on it.
I get full payment upfront and the renter and I sign a rental contract that says there is no refund. I recommend strongly that the renter take an accessamerica.com policy (about $60) to cover their rental if they have to cancel because of illness, death or work situation.

When u rent from an owner, you are getting the accommodations for half if not less then renting thru the resort. There are risks you have to take but if you get everything in writing and confirm with the timeshare there should be no problem.

I would not rent to someone who wants to use an escrow service as I do not get paid before the rental and the renter can back out at the last minute & get their money back - leaving me with a unit I can not rent or deposit in an exchange company.

If you want/need the security of last minute cancellation, use the hotel/timeshare website and pay full price - it is a trade off and it is entirely your choice..

I agree with this.

[HassieRiver Member Find all posts View Profile Close HassieRiver]

Rental protection

I list my rentals with RedWeek and use the escrow service to protect both parties. I just rented one of our timeshares using the Escrow service and two weeks later the renters backed out. The rent had been placed in escrow so we did not lose our rent payment as there was only 3 weeks to re-rent the unit. We re-listed it with RedWeek at a lower rent and rented it two days before the arrival date. We get our full rental back the and first renter gets back what we rented it for which was $200 less than the original rent. From now on I will always use the Escrow service to protect both parties. The small escrow fee of $50 was money well spent.

Don A.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

There are some things you can do to establish confidence with the other party. A lot of it is common sense and gut feeling, knowing when someone's jacking you around.

For instance, you can call the resort to confirm that they have the right to rent the week. I would not hesitate to ask someone I am renting from for that phone number, nor would I be offended if someone asked me for that information.

I and others I know who rent their weeks have to sorta do a little dance with those who respond to our ads to establish whatever confidence they need in us. It may be nice to use a written rental agreement, but thusfar I have found it sufficient to ask those who renting if they want a written agreement or if the entirety of our correspondence, email or otherwise, will suffice. If it does, I make sure I put all the important stuff in the next email I send back.

I am not a professional timeshare rental person, but I did stay at a Holiday Inn Express once.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

The small escrow fee of $50 was money well spent.

Don A.

Wow! Highroller. A week's rent around here isn't much more than that.

[HassieRiver Member Find all posts View Profile Close HassieRiver]

No far from being a "High Roller" just could not use 2 of our 3 four and five star timeshares in 2011, so we decided to rent them for this year. Both RedWeek and the Escrow Service, First America Title were very helpful when the first renter decided they could not go 2 weeks before the rental began. They got $800 of their $1,000 rental back and the second rental got a super deal for $800 in Breckenridge, CO. Best thing for a renter is make when you make a reservation and pay your money is to be sure you can go and get rental insurance. I do not mind at all waiting two weeks after occupancy is done to get my rental payment and my escrow fee is always included in my advertised rental. I also specify when I advertise on RedWeek, I will be using the escrow service and no one has objected to date.