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Timeshare Information

What is the Liability of a Timeshare Renter?

While many people buy timeshares to use for their own vacation time, some individuals buy timeshares specifically for the purpose of renting them out.  In addition, those people who buy timeshares for personal use may find that they do not always have the time or airfare to use their yearly allotted weeks, and renting the timeshare out may be the only way to offset yearly maintenance costs and fees.

No matter the reason, any timeshare owner who considers renting also needs to consider the liability involved.  The main liability associated with renting out your timeshare is the potential of property damage inflicted by renters.

One way to avoid damage liability is by leaving the rental process up to your resort.  Your resort will create a contract between itself and the renter and all liability will be between them.  The negative aspect of this option is the rental commission that your resort will charge you – You will only receive a portion of the nightly income from the renter and the resort may not even be able to rent your full week.

If you want to keep more of the rental income and ensure that your entire timeshare week is rented, you can consider handling the rental process yourself.  The disadvantage to this option is the fact that any rental contract signed is between only you and the renter.  Therefore, even if the rental contract states that the renter is responsible for all damages to the unit, the resort is in no way required to abide by this contract – The resort will come after you alone for any damage costs and it will then be up to you to pursue the enforcement of the contract between you and the renter.

If you do decide to take the rental process into your own hands, one of the best techniques for personal protection is to make sure that the resort takes an imprint of a credit card in the name of the renter upon their check-in.  While this may not be meaningful to the resort in the case of unit damage, it is a deterrent to renters if they believe that their credit card may be charged for damages inflicted to the property.

Cash For Timeshares can help you determine the value of your timeshare – contact us today to get started

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