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How to Verify if a Timeshare Rental is Legit?
May people are leery about Timeshare Rentals and the ability to be scammed, this article gives you some basic tips on how to verify what you are renting is legitimate!

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How to Verify if a Timeshare Rental is Legitimate?
Written by: TUGGER DeniseM 8/2010

First step - ALWAYS ask if they are renting an exchange. RCI* and II do not allow exchanges to be rented, and if you get caught, you can lose the rental and your $$$. You can tell if it is an exchange, when they send you a copy of their confirmation, because it will be a confirmation from the exchange company, not directly from the resort.

*One exception to this RCI rule is if an RCI points owner uses their points to make a reservation at their own home resort - this may be rented. If they use points to make an exchange to a resort where they don't own - it may not be rented. If the confirmation is from RCI, ask the owner to document that the reservation is at their own home resort.

(See this sticky to see the rules for all the major exchange companies - Which Exchange Companies Allow Exchanges to be Rented? - some exchange companies DO allow exchanges to be rented.)

Then - I would do no more than 2 or 3 of the following steps.... I do only #3 and #5 when I rent. If the person is not a TUG member, I would do one more step.

1. Talk to the owner on the phone - get a feel for who they are.
2. Rent from a TUG member.
3. Ask the owner to email or Fax you a copy of their original reservation confirmation.
4. Ask the owner to set it up with the resort so you can call and confirm the reservation.
5. Ask if you can pay a $100 deposit, get the confirmation in your name, and then pay the Bal.
6. Ask the owner to send you a copy of their deed, with their personal info. blacked out.
7. Ask for references.
8. Request a notarized rental contract.
My suggestion - don't ask for escrow - it protects the renter, but not the owner, and using escrow means that the owner doesn't get their money until after the trip, and after they have had to pay their MF. The fact that the owner won't accept escrow doesn't mean they aren't completely legit - an owner with a popular week for rent will not accept escrow, because they can just move on to someone else, who doesn't ask for escrow, and get their money sooner. I do several rentals every year, and I would never agree to use escrow.





Ok TUG, where do I find legitimate Timeshare rentals?

Glad you asked!  We actually have a huge Timeshare Marketplace that has thousands of Timeshares for sale and for rent each and every day.  You can contact the owner directly through each ad!  Below are some other useful links for reading up on Renting your Timeshare!

How to Verify a Timeshare Rental: Original Article

Buying Selling and Renting Timeshares: Online Forum Discussions

We hope this will provide you some basic guidelines for the safe renting of a Timeshare from an existing owner, it truly is a fabulous way to go on vacation and save a fortune!


  


Why become a TUG member?

There is an extended TUG resort reviews database here on this web site available only to TUG members. There are over 4000 resorts covered by this database now and growing weekly. The reviews also include pictures of the resorts, general resort information and a list of owners' email addresses who are willing to answer additional questions regarding the resorts not covered by the detailed reviews.   This is a quick way to see how our members rate the resorts which they have actually stayed at. It has become a valuable source of information to use when planning for exchanges.
 

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