When renting a timeshare stay, a rental agreement is essential to protect both the renter and the property owner or broker. In this article, we discuss the critical terms and conditions that should be included in a rental agreement.
Specifying all of these elements in a rental agreement will prevent confusion and future issues and secure a smooth vacation and experience.
The following elements are critical and should be laid out in the rental agreement:
Let’s explore each element in detail to give you some insight on what to expect from reviewing a well-crafted timeshare rental agreement.
This section of the rental agreement should specify all of the details for the unit being rented. This includes the following information:
Ensure the specific check-in and check-out dates are specified in the rental agreement. In addition, it is ideal to add the resort check-in and check-out times. Many resorts have, for example, a 4:00 PM check-in time and a 10:00 AM or 11:00 AM check-out time.
Early check-in or late check-out is typically not available for timeshare condos due to the amount of time it takes to turn over the condos to housekeeping for cleaning. In most cases, the front desk will hold luggage and allow vacationers to enjoy property amenities while their villa is prepared for check-in.
The rental price should be specified with the currency in which the price is expected to be paid. Method payments such as check, PayPal, credit card, Zelle or Venmo could be specified optionally.
It is also essential to include the terms of the payment. Is full payment due before a specific date? Is there a deposit followed by partial payments due on particular dates?
It is often the case that renters must pay separate charges at checkout time, which are not included in the rental price paid upfront to the owner. Such charges may include:
In this case, the rental agreement should specify these charges.
A rental agreement should specify the terms and conditions under which the reservation can be changed or canceled. It is not uncommon for timeshare rental stays to have strict cancellation policies, due to the resort or timeshare developer policies.
It is essential to have clarity about the terms and conditions of changing or canceling. Please rest assured that even when our rentals are strict, we work with the owners to help them re-rent their stay if they cannot go, or to change the reservation to another family member’s name, provided sufficient advance notice!
Finally, please consider other important disclaimers in the rental agreement. This section may specify amenities that may or may not be available at the resort during the stay. Some resorts include specific amenities, such as golf or water park access, that may be important to the guest.
Another important aspect is who incurs liabilities / has responsibility in case of damages that occur during the guest’s stay.
A rental agreement is the best way to protect guests and owners. Making sure to include all these critical elements in the rental agreement will provide an enhanced vacation and transaction experience for all parties.
If you want all the best vacation experiences while keeping an eye on costs and safety, consider booking with us for your next vacation. Take a moment to browse our website for optio ns for your next vacation. You’ll find plenty of premium destinations at more affordable prices. Dream vacations don’t have to break the bank!
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