Renting your timeshare.....people often change their minds once you've made the reservation.

A lot of time spent working for others with no return. Should I give up? I feel discouraged.

if you make a reservation for a renter, you should ask for some sort of deposit before making a reservation. Some owners require that, before a reservation is made, the renter pays the full amount (usually via Pay Pal).

I know the timeshare market can be discouraging but make sure you are pricing your rental competitively. And do not fall for those scam operations that claim they can get you big bucks for your rental.

I use a graduating scale to -0-. Most generally you can size a person up(not always) by correspondence or talking to them on the phone. I prefer the full amount up front, but have in a few instances demanded 1/2 down with no return after 30 days. I don't place the unit in their name either way until I have received all monies or check or what ever clears and the cash is in my account.

Most generally someone who would give you 1/2 down knowing full well there won't be any monies returned will follow thru. If they do pay in full I make sure that they understand that after a certain time there will be -0- monies returned after a certain amount of time, usually 30 days. At 30 days it's hard to rent, but I have their money, and I can convert to points.

Lance is right, Don't fall for the people who rent it for you. I have seen one thread where a company will rent it for you but what happens if they don't? You are out your money, can't convert, and can't use it ! It does take perseverance, and time, but if you have a high demand TS it works out most of the time.

First everybody starts off with trust issues till you start getting repeat renters. We need to rent our places, they need a place to rent. Trust goes both ways. You are putting trust in the renter here, doing all the work finding out they backed out or found a better deal. It cost me $94 to make a reservation. I have done this myself only to get burned.

Renting from a place like Redweek is pretty safe. If somebody wrongs somebody, it will be brought up in the forums. Redweek pushes escrow service, I see the choice on every inquiry. I don't do this. My assessments and taxes are due now for next years reservations. If escrow is used, you don't get paid till the vacation begins. I reserve prime spots 10 months out if you want these vacations.

I get a 20% deposit upfront by PayPal to reserve the vacation and change the reservation name. This is non-refundable after 12 hours giving the new renter a chance to look over the reservation, call the front desk to confirm name on the reservation. The reservation needs to be paid in full 60 days before the vacation. I require 50% of balance paid within 5 business days by check non-refundable. Balance paid within the 60 day start date. PayPal can be used, many are more comfortable using this method, so I offer a 3% up-charge to compensate the PayPal fee. If I do not get paid as noted, the reservation will be canceled or revert back to my name till rented again. This would be the only reason to change the reservation is non-payment. I do not allow renter change reservation name once it has been rented.

You have to get money up front and non-returnable to assure the commitment for your vacation you are offering. Insurance is available for renter to protect vacation investment for unforeseen reasons to cancel and I note this would be a good protection plan. You can adjust the plan to fit your needs.

Good luck , we are working with a lady now for a Hawaii trip to book. She wants to book it before we pay anything. I am trusting her she will do this for us but I would have felt better paying a deposit. In my mind would assure reserving our stay.

Dave

Thanks for all of the information. I have never had anyone pay up front any fees before they get the confirmation letter in their name. They are not willing to send me a deposit but from now on I will ask. I do spend time getting there reservation and I provide a lot of local information to make their trip more enjoyable. I know I would appreciate this myself. I agree that the deposit would make me feel better if I was renting like you are in Hawaii. I have used a contract in the past and that has worked well. It provides peace of mind for the renter and the owner.