Renters late with payment...

[Mark099]

Hi people,

A payment for a rental was due today. Obviously, it has not arrived. I sent an email reminding them and extending the due date to Sept 3rd.

What would be a reasonable grace period?

It's a rather large rental (210 pts) and I had to borrow points to do it. I have protected myself by getting a non-refundable deposit. I don't want to be a jerk, but I do not want to be taken advantage of either.

Input welcome!

 

[Dean]

Call them if you have the number. Give them a number of days. If things don't move the way you need, offer it for rental again pocketing the non refundable deposit if you rent it extra. As for what is an appropriate grace period, that depends on how far the rental is away. If it's 90 days or more, I'd give them a couple of weeks. If it's closer, less time might be appropriate. Of course if you hear from them, the info they provide might affect the reasonable options. Hopefully this works out for you and the rentee.

 

[DVCconvert]

what's your "feell" about the renter up to now??

I'd say a one week extension is appropriate from the "deadline".

 

[RobDoc]

When does day 31 before arrival come? I'd give them an extension, but you need to protect yourself to make certain you have ample opportunity to rent the points again- if necessary.

I know of one member who rented points (within 30 days of arrival and withou even asking for a deposit), waited for the payment to arrive (even up until arrival day) and never cancelled the reservation.

... that renter enjoyed the reservation, without ever making a payment and the member never took any steps to protect himself. In this case, you have even borrowed points to make the reservation and will be penalized if you have to cancel- even if beyond 31 days.

Make sure the contract you offer the renter is clear about deadlines and what will happen if the deadlines are not met. Be sure to protect yourself- first and foremost. Since you, the member, are in COMPLETE control of the reservation (AT ALL TIMES), you have the opportunity/obligation to make sure that your renter lives up to all terms of the contract to which you have agreed .

Good luck!

 

[Mark099]

I have lots of time... reservation isn't until January. Originally, there was a bigger down payment, but they wanted to use Paypal. I opted for a smaller downpayment because I would prefer to keep as much of the rental monies in USD. Paypal converts my withdrawals to Canadian and keeps a few points for themselves. The second half of the down payment (via a money order) was due today.

Like I said before, I do not want to be a jerk, but they are my points and I do not want to lose control over the situation either.

 

[dianeschlicht]

Do you have a written agreement with them? If so, I would give them at least until after next Monday to respond, since it is a holiday week, and they might be gone. Then I would send a second message about the passage of the date, and cancel from there when you feel they are not intending to respond to you.

 

[weluvwdwbwv]

Are they mailing the money order? It could be delayed in the mail. If you don't receive it by Friday, which was your extension date, I would call them or send a registered letter (if you have not heard from them in the mean time) requesting the payment with a specific firm due date. I would state that you will re-rent the points if you do not receive payment by that date and that you will be keeping the deposit.

 

[vernon]

As the reservation isn't until Jan you have plenty of time.

I would give them the opportunity to respond to your email. If you don't hear anything back before Sept 3rd, I would try another email giving them a week. If nothing then do you have another means of contacting them? If so I would use that.

Personally I wouldn't cancel the booking until at least mid October and after I had done everything that's reasonable to contact them and give them the chance to give a reason as to what the delay is. There are a number of valid reasons for the delay and you'll not be out any $$ if you give them another 3 or 4 weeks to contact you. JMHO

 

[LisaSt]

Mark as a fellow Canadina who rents points every now and then I would wait till the end of Sept at the latest if no money cancel the reservation and keep the money. I would not go later than the end of Sept though.

 

[Johnnie Fedora]

Since you have lots of time, I would be sure your party not going to pay before canceling. You have some money already and will be ahead of the game if you do need to cancel and re-rent the points. Do you have further contact info besides e-mail, even snail-mail or the dreaded phone call. I know I have had some trouble sending e-mails due to spam blockers or sometimes people may change e-mail addresses, etc. Mid October seems like good advice.

Good luck.

 

[Mark099]

Payment was sent late and arrived yesterday.

 

[idratherbeinwdw]

Originally posted by Mark099
Payment was sent late and arrived yesterday.

Yay a happy ending!