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verified and protected
I had to post my 2 bedroom oceanfront in Maui this year at just under 60 days due to a family problem. I have used Redweek for years but am not very happy about their new system. Originally you paid to join then could post to rent your unit or find a rental.Now you pay to join, pay again to post a listing, then pay AGAIN to verify. I must admit I didn't look at the 'fine print' until after posting. My problem with REDWEEK"s system now: As a owner, I am NOT protected if the renter cancels ahead of 60 days. Also, even though verifying my unit I did not get paid until days after the renter entered my unit. I needed the cash to rent elsewhere and do not feel this system is OWNER FRIENDLY!! I will NOT verify again if i have to rent. The old system worked fine and I think it is just a cash grab by redweek as they get to hold monies until 2 days later.
klalaw
Hi April,
Thanks so much for your comments! I wanted to start by saying that the RedWeek verification enhancement is totally optional. We don't require that owners purchase it and while it can be added at any time (as is the case in your posting), we will never require that owners add it to their posting. It's a service that we have had so many requests for, by both owners and renters and both RedWeek Payments and RedWeek verified came to fruition, simply because of the number of requests we were receiving. It has nothing to do with holding anyone's money for our own gain, but we do believe that it can certainly increase the chances of a successful rental, because renters are protected.
As far as protection for the owner, we do actually protect the owner in a number of ways:
1. When booking with RedWeek Payments, our cancellation policy is " Renters who cancel at least 60 days prior to the check-in date can receive a 50% refund. There are no refunds for cancellations within 60 days." Barring any material disputes, the owner would receive the applicable disbursement, should the renter cancel. We do also make ever effort to re-rent the unit.
2. We provide provisions in the rental agreement to hold the renter responsible for any damage to the unit.
3. With online booking, especially Full Service Rentals, we do deter inquiries from visitors who just aren't serious, as well as visitors who have less than scrupulous motives.
While we do understand that our options won't work for everyone, the reality in the timeshare rental industry is that scams and scammers are out there on so many sites. Not only do they target the renters, but they target the owners as well. RedWeek's Full Service Rental option and the RedWeek Verification enhancement are our first steps to make our community safer for everyone.
RedWeek Support
RedWeek.com
Last edited by redweek_support on Jan 08, 2019 01:03 PM
Tom A: If you choose to have your posting RedWeek verified ($14.99 for a rental posting), then you would also automatically be able to utilize RedWeek payment. The renter would pay RedWeek directly by credit card, and the owner is then sent the money two days after the renter checks in. If you have any further questions, please use the Contact Us link at the bottom of any page.
RedWeek Support
RedWeek.com
You mentioned in your replay that the renter can cancel within 60 days of the rental start date. That is wholly inadequate protection for the lessor, as it is very unlikely that the lessor can re-let with such little time left; 50% cancellation fee is thus not enough.
Do I understand your website to say that there is also now an option for "strict" no cancellation/refund? Also, under what types of circumstances could a renter check in and dispute payment?
Jerome L.
Jerome L.: Yes, the owner is now able to choose the cancellation policy for their rentals. RedWeek Payments currently supports these three cancellation options:
Flexible: 100% refund if canceled at least 60 days before check-in. No refund thereafter. Moderate: 50% refund if canceled at least 60 days before check-in. No refund thereafter. Strict: No refunds given on cancellations
This page provides all the information about disputes: Renter Disputes (www.redweek.com/resources/ask-redweek/renter-disputes-redweek-payments)
RedWeek Support
RedWeek.com
phyl21 wrote:Flexible: 100% refund if canceled at least 60 days before check-in. No refund thereafter. Moderate: 50% refund if canceled at least 60 days before check-in. No refund thereafter. Strict: No refunds given on cancellations
I am a timeshare owner of multiple weeks, but only on occasion am I a timeshare "landlord". I fully support (and I practice) an owner being able to choose a "no refunds on cancellations" option. This has always been (and will remain) my own practice in my rental transactions; it is very clearly and very specifically stated within my rental contract. Tenants know that policy well in advance and willingly accept it, under signature. Tenants can always choose to purchase their own trip cancellation insurance, or they can just decline to proceed with the rental at all -- it is entirely their own decision and choice.
Every timeshare owner pays $800 -- $1,500 annually (sometimes more, rarely any less) in maintenance fees for each and every individual timeshare week owned. That fee must be paid, in full, usually at the very beginning of the calendar year, regardless of whether that timeshare week gets used (or rented) or just sits there empty. If a tenant bails out before the occupancy date, regardless of the reason, a late cancellation will often mean that the owner will simply not have sufficient time or opportunity to advertise again, find a new tenant, and execute a new rental agreement.
In short, there is risk on both sides of a timeshare rental transaction --- certainly not just for the tenant.
KC
Last edited by ken1193 on Mar 02, 2024 09:23 AM
I am new to the Redweek site. What exactly is the difference between "verified and protected" versus a regular posting? I want to rent one of the units, but I'm hesitant to make a selection unless there is a "verified and protected" shown on the listing. Thanks for your help.
Mary G.
Mary G.: If the posting has a verified flag, it means the owner has paid an additional fee to have RedWeek verify all the details of their week with the resort. "Protected" means the owner has agreed to use RedWeek payments, so you can make your payment directly to RedWeek with a credit card. We do not distribute the money to the owner until two days after you check into the resort.
If you have any further questions, please use the "Contact Us" link at the bottom of any page. Thanks!
RedWeek Support
RedWeek.com
If you are not using RedWeek Online Booking, then you should take steps to make sure your transaction is safe. One way is to use a rental escrow service like First American Title: Escrow
If you choose not to use an escrow company, then you will find steps for staying safe here: Stay Safe
If you have further questions, please use the Contact Us link at the bottom of any web page. Thanks!
RedWeek Support
RedWeek.com
Last edited by phyl21 on Jun 16, 2020 09:16 PM
Tracy: We provide the information to help you stay safe in our Resources section: Stay Safe
Although we do not vouch for or recommend any person using our website, if you send the posting number you are inquiring about to support@redweek.com, we can let you know how long the owner has been a member and if there are any complaints on their account.
RedWeek Support
RedWeek.com