Rental process? Do I have it right?

[tinkercat]

Ok, I've been reading my eyes out and I think I've got this sort of figured out. I am hoping people who have rented their points out before will chime in and let me know if I'm missing anything.

Step 1 - Post points for rent on R/T board

Step 2 - If a renter is found, exchange info such as names, emails, phone numbers, names for ressie, etc.

Step 3 - Call MS or get online and make the ressie for the requested dates, putting the room into the renters name. Add dining or other requests to ressie as needed.

Step 4 - Send confirmation and contract to renter. Renter must return signed contract with a % down on the rental.

Step 5 - Stay in communication with renter, changing ressie or adding info for things like dining or ME as needed

Step 6 - Renter must pay for remainder of trip by XX days before rental is set to begin.

Step 7 - Once all money is paid in, remain in communication, etc.

Is that the rental process, in a nutshell? Should I add anything or is there something I'm missing?

I want to make sure I have an idea of how this all works before I offer the points for rent, and figured this would be the best way to do so. Thanks!

 

[msabol01]

As a fellow rental novice I think you pretty much sum it up. I would add one very important step. Have potential renter read and sign a rental agreement/ contract. Be sure to specify all potential scenarios to inlcude but not limited to:

Renter misses payment
Cancellation prior to 31 days
Cancellation less than 31 days
Change requests
Communication timeline (ie confirmation etc)


I remember seeing some good examples on the Rent / Trade boards. This will protect both you and your renter.

Good luck!

 

[CarolAnnC]

Ok, I've been reading my eyes out and I think I've got this sort of figured out. I am hoping people who have rented their points out before will chime in and let me know if I'm missing anything.

Step 1 - Post points for rent on R/T board

Step 2 - If a renter is found, exchange info such as names, emails, phone numbers, names for ressie, etc.

Step 3 - Call MS or get online and make the ressie for the requested dates, putting the room into the renters name. Add dining or other requests to ressie as needed.

Step 4 - Send confirmation and contract to renter. Renter must return signed contract with a % down on the rental.

Step 5 - Stay in communication with renter, changing ressie or adding info for things like dining or ME as needed

Step 6 - Renter must pay for remainder of trip by XX days before rental is set to begin.

Step 7 - Once all money is paid in, remain in communication, etc.

Is that the rental process, in a nutshell? Should I add anything or is there something I'm missing?

I want to make sure I have an idea of how this all works before I offer the points for rent, and figured this would be the best way to do so. Thanks!

Glad to see you found some of our renting info useful here on the DIS!

Did you decide what methods of payment you will be accepting - personal checks, credit card, paypal?