Timeshare rentals allow people to stay at some of the world's nicest and popular resorts on vacation by just paying some rent without buying the property or paying expensive resort rental prices. The owners of timeshares can rent out their property by advertising through websites like timesharerentals.com, Yahoo.com, tug2.net, Lycos, and HotBot that charge some commission on the annual maintenance fee for providing this service, while the rentals generally may be one or two times the annual maintenance fee.
The typical timeshare renting procedure includes seven steps. The renter should check up with the timeshare owner as to whether the particular dates that he wishes to visit are available or not. If the dates are available, then both parties will come to an agreement regarding the rent to be paid.
Once the price is finalized, the renter needs to pay at least 20-50% of the total rent to the owner either through Pay pal system or by opening an escrow account. Both parties then sign the rental agreement. After the payment of either a portion or full amount of the rent is made, the owner contacts the timeshare resort to reserve the unit in the name of the renter. If the timeshare is owned by one of the exchange companies like Interval International, the owner is required to 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 his or her name for the specified dates. Once the resort confirms timeshare, the renter will pay the remaining portion of the rent payment if he or she made a partial payment before. The renter's check-in and checkout will then follow the agreed upon schedule. Ideally, the detailed and transparent rental agreement will be clear and easy to understand.