Are you an existing timeshare member and want to know how to protect yourself from a potential timeshare rental scam? Do not fear as there are ways to avoid a timeshare rental scam from occurring. Rental scams could affect both owners who want to rent out their units, and it could also affect individuals who try to rent time for their vacations. Continue reading below to learn how you can prevent a timeshare rental scam from affecting you.
Timeshare Rental Scams: Renters At Risk
Do you want to rent a timeshare week for vacation since you have heard rave reviews about the award winning resort? The rental scam that could affect you if you try to rent from someone who says they are a genuine owner, but if fact they are misleading you. The rental scam occurs if you pay your money to book time at a timeshare, but then arrive to the resort for your vacation only to find the booking was invalid. To avoid this timeshare rental scam from occurring to you, it is recommended to only book vacation weeks using trusted and secure rental websites. Also, make sure to call the resort directly to verify the member’s name and membership number before you pay for the reservation. In addition, you should call the resort’s members services to ensure your name has been added as an authorized guest and that there is a reservation pending under your name to use the unit. This way, you can avoid a rental scam that could ruin your entire vacation.
Timeshare Rental Scams: Owner Advice
Another way a timeshare rental scam happens is when an existing owner tries to rent out their unit to vacationers. In the past, fraudulent timeshare rental agencies scammed owners by convincing them they had a valid renter for their property. However, there really was no renter and the fraudulent timeshare rental agency only charged the owner an upfront fee to use their rental services, but then promptly disappeared without providing a legitimate service. Never pay upfront fees for services not rendered, and only work with companies that charge a commission fee if they are able to rent out your unit. Rental agencies that charge an upfront fee are usually operating timeshare rental scams and should be avoided at all costs. It is always best to work with in-house services to rent out your vacation rental.
Timeshare Rental Scams: Identity Theft Scams
Another example of a potential timeshare rental scam includes identity theft and credit card scams. Never, ever share personal information such as credit card numbers, online bank account passwords and social security numbers to an unknown party. If you do that, you are putting yourself and your personal information at risk for scammers to scam you. A warning sign that you are dealing with a timeshare rental scammer is if you are asked to wire money directly to the renter, or make a cash deposit to secure your booking. It is always best to use reputable rental websites with trusted online security platforms for any financial transactions.
While there have thankfully not been many timeshare rental scams, it is always best to know the warning signs to protect yourself. Verify that you are renting a legitimate timeshare before you pay any money, and avoid rental agencies that charge upfront fees. Lastly, never share personal and financial information so you won’t become an identity theft victim. We hope these tips help you protect yourself from timeshare rental scams.