Once you have agreed to a price to rent a timeshare from an owner, you will need to get that price and the specifics of the agreement in writing. Most owners will have paperwork for you to fill out which will confirm the details of the rental such as the physical location of the resort, check-in/check-out dates, number of bedrooms and bathrooms, unit number, and the type of kitchen facilities.
An agreement should also explain any possible damage liability involved, responsible parties, cancellation policy, terms and conditions, full contact details of the parties involved and any additional fees which may be incurred.
Payment terms should also be clearly explained, such as deposit amounts, balance due and the dates at which the amounts should be paid. Many owners require a deposit before they will even make the reservation - so they know the renter is serious about the booking. To process payment, we suggest the establishment of a rental escrow account for the disbursement of funds. A reputable company experienced with processing timeshare rentals, First American Title Vacation Ownership Services, is one of the leading companies in the country and they can receive and distribute funds, organize the agreement and manage the entire process.