Are you a timeshare member? Do you want to know how you can protect yourself from a timeshare rental scam? You can avoid a timeshare rental scam from happening to you by knowing the warning signs to look out for. Timeshare rental scams can affect both owners and people wanting to rent vacation time at a resort. Read below on how you can prevent a timeshare rental scam from happening to you.
Beware Timeshare Rental Scams: Renters
Are you interested in renting a timeshare week for a vacation, because you have heard wonderful reviews about the resort? You should beware of timeshare rental scams as it can occur when you are trying to rent a vacation week from someone who claims that they are the owner, but they really aren’t. You will pay the money to book the vacation accommodation, but when you arrive at the resort to enjoy your vacation you learn that the vacation booking is not confirmed. You should only book timeshare vacation weeks from a secure rental website, and this will prevent you from being scammed. You should also call the resort yourself to make sure that the timeshare member has a reservation set up for you, and you are already authorized as a guest for that particular reservation week. Doing this will prevent a timeshare rental scam from happening to you.
Beware Timeshare Rental Scams: Existing Owners
Existing owners can be involved in another type of timeshare rental scam when they are trying to rent out their unit. Timeshare rental agencies that are fraudsters have scammed existing owners in the past by telling them that they already have an interested renter for their unit, but there really isn’t one. They then charge the existing owner a large upfront fee, then disappear with their money without providing an actual renter. This is why you should never pay any upfront fees for any services that are not provided, and you should only work with a legit company that will only charge a commission fee once the unit has been rented. Most of the rental agencies that charge an upfront fee are usually operating a timeshare rental scam. When you are interested in renting out your unit, you should do it in-house.
Beware Timeshare Rental Scams: Identity Theft and Credit Card Scams
You should also be aware of timeshare rental scams that involve you giving out any of your personal information, banking information, and credit card numbers. You will be putting yourself at risk for a scam if you do that. You will notice you are dealing with a timeshare rental scammer when they ask for a cash deposit or ask you to wire money to them. You should only use trusted online websites for all financial transactions.
Thankfully, there have not been a lot of timeshare rental scams lately. You can protect yourself when you look for the warning signs. You should avoid paying any upfront fees from rental agencies. And, most importantly, you should never give out any of your personal information. Always beware of timeshare rental scams! They are out there waiting for you to become their next victim.