Q. I want to rent out my unit/week. What do I do?
A. Click here to download a rental agreement in .pdf format, or call us and we will fax or mail a form to you. Fill the form out completely (two pages) and return it to us by mail or fax. We will then make your unit/week available for rent.
Q. Why do you need my Social Security Number (SSN) (on the rental agreement)?
A. Rental income, even from a timeshare, is considered income by the IRS. We have to report this income to them, and therefore we need your SSN. If you are outside the U.S. and do not have a SSN, we will withhold 30% of your rental for F.I.T. (Please don’t ask me what this is – I just know we have to withhold it for foreign owners who rent their unit/weeks!)
Q. What are the rental rates?
A. Click here to see the current rates.
Q. Do you take out a commission?
A. The Association does not take a commission, but the Management Company, per our contract with them, takes 27%. This is outlined in the Rental Agreement.
Q. Will you call me and let me know if my unit/week rents or not?
A. No. It wouldn’t be feasible for us to keep track of the unit/weeks that are available for rent, and contact all the owners. If your unit/week rents, you will receive a check, less the 27% commission, about 6-8 weeks after the end of your week. If it does not rent, you will not hear from us. You can always contact us, whether it be by mail, fax, phone, email, or smoke signal (kidding about that last) and check on the rental status of your unit/week. However, please do keep in mind that even if your unit is rented, guests can always cancel. If the reservation is cancelled within 14 days of the arrival date, the deposit (equivalent to one night’s room and tax) is forfeited. The owner of that unit/week does receive that forfeited deposit, but it does occasionally happen that a unit is booked for an entire week, then cancelled, and the owner receives only that one night’s rent because the rest of the week isn’t re-booked.
Q. I put my unit/week up for rent, but now I want to let (fill in the blank) use it. What do I do?
A. Call, fax, or email us right away and let us know you want to cancel the rental agreement. This is key, because once we’ve rented the unit/week, we can’t cancel the renter. Assuming we haven’t rented it, after you’ve cancelled the rental agreement, send us something in writing (you can send this by mail or fax, as long as it’s signed) that lets us know who’s going to be using the unit/week. (If you yourself are going to use it, you don’t have to do anything but cancel the rental agreement.)
Q. How late can I put my unit/week up for rent?
A. You can wait until the day the week starts if you want to, but keep in mind that there’s no guarantee that we can rent the unit at all during your week, and the longer you wait to make it available, the more you reduce your chances of our being able to find a renter. We advise putting your unit up for rent as soon as possible. In fact, if you own a unit in January, February, or March, we HIGHLY recommend putting it up for rent at least a year ahead of time. (This can be done by paying estimated maintenance in advance.) We often see units go un-rented during that time, when they could easily have been rented if they’d only been made available sooner.
Q. Can I rent my unit/week out myself, like to someone I work with?
A. Absolutely. If you let someone else use your unit/week, whether it’s because you’re a nice guy or because they’re paying you $4,000 a night, that’s between the two of you. All you need to do is let us know that someone else will be using your unit/week — again, we need this in writing, with your signature. You can find a form for just that here.