If you’re considering renting your timeshare, there are a few things you can do to make the process a success with potential renters while protecting yourself from any liabilities.
- Create a rental agreement – Your rental agreement should outline terms and conditions, such as payment deadlines, cancellation policies, and liability for damages, to ensure the renter is held accountable when booking your timeshare unit.
Not how to write your agreement? Timeshare Users Group provides Free Timeshare Rental Agreements for anyone to download and use.
- Clearly define your payment requirements, as well as refund and cancellation options – The last thing you want when renting your timeshare is to have renters change their minds and leave you high and dry. Before allowing any renter access to your timeshare, make sure you receive their payment and that they understand any restrictions or limitations on refunds or cancellations.
- Request a security deposit – Having the renter pay a fully refundable security deposit (to be refunded post-check out) can prevent damage to your timeshare unit. Reach out to the resort after the renter has checked out to confirm if there has been any damage and if the renter has been charged with the credit card they provided at check in.
- Contact the resort before check-in – Make sure your renter will have no problems accessing the resort, the specific unit, and any other requests they’ve made before they arrive.
Our advice: Ultimately, you are responsible for anything that occurs in your timeshare unit. Always vet renters and have them sign a rental agreement with clearly defined rental terms before allowing them to stay in your timeshare.
If you’re considering renting your timeshare, there are a few things you can do to make the process a success with potential renters while protecting yourself from any liabilities.
- Create a rental agreement – Your rental agreement should outline all of the important terms and conditions of the rental, such as the price, when payment is due, cancellation policies, check in an check out procedures, and who is responsible for damages if something goes wrong before the rental begins or the unit gets damaged during the rental itself.
Not sure how to write your agreement? Timeshare Users Group provides Free Timeshare Rental Agreements for anyone to download and use.
- Clearly define your payment requirements, as well as refund and cancellation options – The last thing you want when renting your timeshare is to have renters change their minds and leave you high and dry. Before allowing any renter access to your timeshare, make sure you receive their payment and that they understand any restrictions or limitations on refunds or cancellations.
- Request a security deposit – Having the renter pay a fully refundable security deposit (to be refunded post-check out) can prevent damage to your timeshare unit. Reach out to the resort after the renter has checked out to confirm if there has been any damage and if the renter has been charged with the credit card they provided at check in.
- Contact the resort before check-in – Make sure your renter will have no problems accessing the resort, the specific unit, and any other requests they’ve made before they arrive.
Our advice: Ultimately, you are responsible for anything that occurs in your timeshare unit. Always vet renters and have them sign a rental agreement with clearly defined rental terms before allowing them to stay in your timeshare.