Timeshare rentals allow people to stay at some of the best and most popular resorts in the world during their vacations, simply paying part of the rental without buying the property or paying high resort rental prices. Timeshare owners can rent out their property by advertising through websites such as timesharerentals.com, Yahoo.com, tug2.net, Lycos, and HotBot that charge a commission on the annual maintenance fee for providing this service, while rentals they can generally be one or two times the annual maintenance fee.
The typical timeshare rental procedure includes seven steps. The renter should check with the timeshare owner whether the particular dates he wishes to visit are available or not. If the dates are available, then both parties will come to an agreement on the rent to be paid.
Once the price is finalized, the renter must pay at least 20-50% of the total rent to the owner, either through the Pay pal system or by opening an escrow account. Both parties then sign the rental agreement. After paying part or all of the rent, the owner contacts the timeshare complex to reserve the unit in the renter’s name. If the timeshare is owned by one of the exchange companies like Interval International, the owner must send a copy of the rental agreement to the company.
The renter then contacts the resort to verify that the unit has been reserved in their name for the specified dates. Once the resort confirms the timeshare, the renter will pay the remaining portion of the rental payment if a partial payment was made earlier. The check-in and check-out of the tenant will follow the agreed time. Ideally, the detailed and transparent rental agreement will be clear and easy to understand.