WBC rental agreement - is this standard?

[sksjasams]

Well, I can't believe I am giving up on finding the perfect hotel and likely going with Bonnet Creek. I just can't justify the price/space difference.

I have never rented a timeshare before. Can anyone please tell me if this section is standard? Thank you!

1.1 The renter must make an initial deposit of 50% of the rental fee at the time of reservation. This deposit is nonrefundable.
1.2.1 The remaining balance of the rental fee is due no later than 21 days prior to the rental period Check In date.
1.2 Failure on the part of the renter to pay the remaining balance of the rental fee prior to 21 days of the Check In date will be grounds for the owner to terminate this agreement. There will be no refunds made of the initial deposit in such situations.
1.3 The only type of refund that would be allowed is if the this unit is uninhabitable on or before the date the term starts, by reason of flood, fire, storm, or for any other reason, the owner shall refund the rent forthwith and will thereafter have no further liability to renter.
1.4 Confirmation will be sent to the renter by either email or USPS mail 15 days prior to the Check In date.

Thanks for your help. I am nervous about making this commitment..

 

[Brian Noble]

Many timeshare owners require full non-refundable payment at booking, so this is actually a little more liberal than that. Some owners will have even more liberal terms (smaller deposit and/or later final payment date). Because they are individuals, it can vary. But, I don't think that these terms are at all unusual.

Part of the reason this is so much less expensive is that you are also taking on the risk that your plans change, rather than leave that risk with the owner. If you book it through Wyndham, you will have "hotel-like" cancellation terms, but you will also pay "hotel-like" prices.

 

[sksjasams]

Thank you, Brian! I was hoping you would answer

 

[shalom]

Just seconding Brian that it looks reasonable and typical. The "refundable if uninhabitable" clause is new to me; generally, it's much more of a "your money for the reservation, done" kind of thing.

The only thing I would add is that, if you're renting, and it'd be a disaster to lose than rental, then get trip insurance. Odds are, everything will be fine, but it is a tad riskier than renting from a hotel.

 

[sksjasams]

Thanks Shalom! I'm glad to hear its typical - very reassuring.
We will definitely be getting trip insurance. I am a worrier and it is worth the peace of mind to me.

 

[Brian Noble]

The "refundable if uninhabitable" clause is new to me

Essentially, if the resort burns to the ground, or for some reason cannot take guests, the "landlord" will refund the rental.

 

[shalom]

Essentially, if the resort burns to the ground, or for some reason cannot take guests, the "landlord" will refund the rental.

Yah, I understood what it meant, but a lot of the contracts I have seen specifically deny that possibility ("landlord not responsible in case of whatever"). Some resorts reimburse owners when that happens, and some don't, or the reimbursement isn't money and may or may not be usable, so I think it's fairly standard for the owner to take the money and let the people renting the unit take their chances.

 

[swilshire]

That looks pretty similar to the contract I use when I rent my timeshare. The non-refundable deposit is because there is little I can do with the week if the renter doesn't pay the last payment 21 days prior to check-in. Even though those are my terms, I've worked with renters when they had a really good reason, like the family struck by a hurricane one year a month before their vacation.

Sheila

 

[Brian Noble]

a lot of the contracts I have seen specifically deny that possibility

I'm going to guess it depends on what the underlying resort does---some landlords are willing to forward on the "refund" if it happens, others might not be.

 

[JimMIA]

In the case of Wyndham, if you canceled inside of 15 days from arrival the owner would forfeit all of the points for the reservation. That is undoubtedly the reason for the 21 day deadline,

I have to say payment of 50% less than a month before arrival is about the most lenient terms I've seen. And frankly, I'm not sure it provides the owner with as much protection as they think it does.

I don't rent points, but if I did, I'd want payment in full 60 days out or so. I think that is much more "normal" than the terms you've been offered.