RedWeek Marketplace for Timeshare owners
Timeshare owners can make use of a variety of simple online tools to sell or rent their timeshare, and participate in forums to discuss the essential problems of the owners. At RedWeek.com, you can find reviews, ratings, prices, availability, and complete resort description for all timeshare resorts worldwide.
Redweek a Marketplace for timeshare owners
RedWeek.com is the largest online marketplace for timeshare rentals and resales, boasting more than 2.3 million subscribers and an A+ Better Business Bureau Rating, what makes them the most-trusted community on the Internet. Their service provides fast, easy and secure transactions for owners and renters.
Becoming a member of Redweek community provides valuable benefits.
Well, it depends on your needs. First of all, you can join the RedWeek Community with a register as a guest for free. Becoming a guest allows you to enjoy the following benefits:
– View available rentals and resales
– Get custom alerts when new weeks are added by RedWeek
– Join in on discussion forums
– View resorts amenities, features, and additional photos
– View timeshare availability and pricing
If, on the other hand, you are looking for a full service, the site offers you becoming a RedWeek Member. You’ll be able to:
– View timeshare availability and pricing
– View resort amenities, features, and additional photos
– Request notification of new timeshare postings
– Participate in discussion forums
– Receive our monthly newsletter
– Post timeshare for rent or sale (posting fees required)
– Read and post reviews
So you want to rent your Timeshare? well, RedWeek is perfect for you. The site offers some guidelines to help you. Here are the steps of the procedure:
1. You need to contact your resort.
Each resort has different policies and procedures you should be aware of before trying to rent your timeshare. Take a few minutes to call your resort with a few quick questions to avoid any surprises along the way.
Also, Redweek recommends you to ask the following questions:
– Am i free to rent my timeshare however I please, or are there any restrictions?
– If i rent my timeshare myself, will you charge me any fees to make the transfer (i.e., commissions, guest certificate fees, transfer fees)?
– How do you recommend I go about transferring the use of my timeshare week into a guest’s name? Will you send them a confirmation directly? Do i need to give you a certain amount of lead time?
– What weekly rate do you charge renters for the week and unit size that I own?
2. Post your timeshare for rent on RedWeek.com
For this step, you have two options for posting your rental on RedWeek. You can do it yourself, or you can have RedWeek Full Team Assist. You can see their side by side comparison to take the best option for your needs.
However, there are some details of the services the site offers:
With the full-service rental option — you apply with your reservation details and send us your confirmation letter. We will verify your details, add your posting for you, and manage your inquiries. Most importantly, your rental will include RedWeek Payment Protection – it will be finalized using our online rental agreement and credit card processing, so you don’t have to handle those details.
Before you start, please review their posting dos and don’ts, and take a look at What’s Your Timeshare Worth tool to guide your pricing. With the DIY rental option, you control the entire process. Members interested in renting your timeshare will e-mail you directly through your posting page to arrange the purchase. All you need to do is answer e-mails and move forward on finalizing the transaction when you’ve found your renter.
A copy of each inquiry you receive will also be stored in your Messages section on RedWeek.com. Even if you do not choose to reply to questions through the Messages section, be sure to check it regularly to make sure you haven’t missed any inquiries due to e-mail filters.
3. Finalize the rental agreement and payment
The full-service rental option includes the building of the rental agreement and payment collection and disbursement. When you have a renter, you will need to approve the offer, call your resort to make the name change, and request a new confirmation.
If you chose DIY, RedWeek isn’t involved in the actual transaction, but the site suggests one of the following methods for finalizing your rental:
Use this unique vacation escrow service to bring a secure third-party into your transaction. First American Title will handle the collection and transfer of rental funds to ensure Redweek protects both parties’ interests.
Coordinate your rental transaction directly with another RedWeek.com member, taking your security precautions.
4. Deactivate your rental posting, or post next year’s dates
Make sure to take your posting off RedWeek.com when the unit is no longer available for rent. You can do this through the My Postings section of your Account page. If you have time left on your DIY rental posting, feel free to edit the availability dates to advertise your rental at the same resort for next year.
What does RedWeek verified means?
RedWeek verifies postings by asking the owners to send a copy of their reservation (for rental verification), deed or certificate of ownership, purchase agreement, and current maintenance statements (for resale verification) to verify that they do have the timeshare unit or points available to rent or sell. They confirm and clarify the information provided with the resort and management company as necessary.
The RedWeek Verified flag means that the site has independently confirmed critical details of the posting so you can feel confident in your transaction. Everything you see in the green RedWeek Verified box on a posting page has been professionally verified.
Besides, a “Verified & Protected” flag on a rental posting means it has been verified and also uses RedWeek Payments, allowing you to pay online with a credit card – with built-in payment protection. On these, we do a second verification that the reservation is in your name, and funds are held until two business days after your check-in, so you can ensure you get what you paid for.
So, what is the difference between “RedWeek verified” and “Verified & Protected”?
“RedWeek Verified” means we have confirmed key details of the owner’s offering, but the contract and payment arrangements are undefined and determined between the two parties. Rental postings marked “Verified & Protected” have gone through the same initial verification, but also have the benefit of using RedWeek Payments, the new payment system on RedWeek with built-in payment protection. There is a defined rental agreement, online credit card payment, and a second verification that the guest name has been updated. Funds are held until two business days after check-in to ensure the renter gets what they paid for.
Moreover, what does verification guarantee?
Verification confirms the unit was available as described at a point in time – likely when the owner first purchased the posting. RedWeek does not take ownership of the week at that point, and the owner or resort can make changes to reservations without our knowledge. When renting or buying a timeshare, the site always recommends taking all safety precautions, such as using an escrow service to handle the transfer of funds if RedWeek Payments is not available.
Why should owners add verification to their postings?
Trust is critical for success in a by-owner marketplace. The Verified flag provides renters and buyers with an additional measure of trust in the offering. They can move forward with the transaction confident that they will get the unit described, and that they are sending money to someone with rights to transfer the week. RedWeek Payments is now available to all owners (owners: see the RedWeek Payments FAQ for more info).
What is the RedWeek Calendar for?
Timeshares are available in one-week intervals, numbered 1 to 52. The calendar on RedWeek lets you look up a week number to see its check-in date for a particular year. Click here to see how it works.
RedWeek is safe for many reasons mentioned before. However, one of the reinforcement to trust in the reliability of this site, besides the support of millions of users, can be RedWeek Payments, as is cited in the article of PR Newswire. “With this service, members can now get a complete rental contract and pay right on the site with a credit card, knowing their funds aren’t released until we are sure they got what they paid for.
Renters get the low by-owner rates on timeshare rentals without having to worry about getting scammed; owners don’t have to worry about setting terms and requesting payments. They simply approve an offer when it comes in, and we send them the funds after the renter has checked in.
RedWeek also provides similar fraud-prevention for owners who advertise their timeshares for sale on the site. Owners can have their resale week verified – meaning RedWeek confirms their ownership – and even more weeks are managed by RedWeek’s full-service team, where licensed real estate brokers work to handle the transaction from start-to-finish, using legal and escrow services to protect both parties.”
It all depends on your needs as a timeshare owner and willingness to pay for the different types of services offered by the site. The benefits and professional support provided by the Site are an aspect that should be taken into account when renting your timeshare through this site, as well as the number of potential buyers to whom your timeshare publication is exposed.
As mentioned before, the owners have two options to rent, they can do it themselves (DIY), or they can request help from the full-service team of RedWeek (full service). Several sites offer similar services to RedWeek, more expensive or cheaper, in the end, it, all is up to you.
There are several sites in which RedWeek users have shared their experiences on the site offering, selling and buying a timeshare, both positive and negative.