TRI West Timeshare - Viccie Mac's Timeshare Rental Tips - Tip 7

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Tip 7 - Rental Trust Account

Payment

Trust

Regardless of how you are able to rent your timeshare (on your own, a friend, a referral, the resort, the developer or thru a rental broker) always make sure that the traveler's money is placed in a trust account until after the rental is completed. A rental is considered complete after travel dates have passed.

Likewise, if you are the traveler always make sure your money is placed in a trust account on your behalf until after the transaction is complete.

The trust account will assure:

1. That the transaction is properly documented

2. Funds will be available after the rental to make proper disbursements

3. An audit trail will be available if needed

4. Disbursement of net rental proceeds to owner

5. Protection for the travelers if "acts of god" or overbookings occur and different accommodations need to be secured

6. Ability to refund or reimburse to either party depending on the details of rental-travel agreements

FINAL NOTE: TO PROTECT ALL PARTIES INVOLVED ANY RENTAL MONIES SHOULD BE PLACED IN A TRUST ACCOUNT UNTIL FINALIZATION OF YOUR RENTAL TRANSACTION.