Hi People, Hope someone can give us some guidelines..... We have found a villa/condo we want to rent (in Sarasota) for two weeks in May and by email, the owner has confirmed that they would 'hold' the property, and would begin the reservation process. Their agent then mailed us the reservation documents. They want half of the rental now, followed by the other half (total over $2,000) 30 days before we arrive. Is this usual??? We live in Ireland and are not familar with the US procedure for these things. It seems a little crazy to send all this money before getting there, would totally understand having to send a deposit (maybe $500), and the rest on arrival! We would be VERY GRATEFUL for some advice from someone whose done this before or who knows how these things work!!! Thankyou Orla

When we have done vacation rentals directly from owner, and also from agency, we have had to pay half to "hold" the property and the other half upon arrival. I have always felt more comfortable doing this with an agency rather than directly with an unknown person.

Any chance they will accept your money on a credit card - that way you can always dispute it with the credit card company if there is a problem.

Collecting half the rent is usual, especially when coming to Florida. I have a vacation rental, but not in FL, and I collect only the security deposit in advance in order to hold the dates, which is also refundable after check-out, and the balance is due no later than two weeks prior to check in. Since you are renting in FL though, collecting half the rent seems to be the norm and paying the balance in full one month in advance is also normal. Lots of places where my rental is also require full payment NLT 30 days before check-in. That way, if you cancel, the owner has time to re-rent it out. I don't think you have to worry about renting from an individual ("by owner") vs. a management company or real estate agency. Also, renting from an individual most of the time will be cheaper, because the owner does not have to pay the manageent company or real estate agency a commission, therefore, rents can be cheaper. If renting from an management company/real estate agency, they charge an extra 25%+ of the rents received to the owner, and sometimes the owner will "up" the rent to make up for having to pay the commission to the management company. You could also probably pay the deposit by credit card like the other poster suggested if that would make you feel more comfortable. Renting by owner is a big thing nowadays, and you can find yourself some good deals going that route. I personally will never rent from a management company/real estate agency again, or ever stay at a hotel again for that matter. I have had many, many happy guests who have rented from me in the past, as well as "repeat" guests. At what website did you find this rental?

If the owner won't accept a credit card (many don't since it is an expense - I don't - it isn't worth the expense and it's more work for me at this time), you could always pay on your credit card through Western Union (if you have access to Western Union in Ireland), and maybe that way you would still be able to dispute later on if needed, but not sure on that.

Best of luck to you, don't worry, things should work out fine for you. Just be sure this is the rental you want to rent before sending so much money, and read carefully what the cancellation policy is, just in case you have to cancel due to emergency, etc.

If you have any other questions about this, please don't hesitate to email me and I'll try to help you out.

Linda in St. Pete, FL
[email protected]

This doesn't sound unusual Orla. As others have said, this payment schedule gives them time to rent to someone else should you cancel. Having said that, I'd make sure it's exactly what you want & that you've seen lots of pictures on line. I've never been to Sarasota so don't know the going rates, but this sounds like a lot of money to me for 2 weeks. Anyone else agree??

Thank you very much, Gail and Linda and mclaurie! I'm inclined to agree with what you said Gail, about paying half up front and the balance on arrival. That would seem fairer to me. I doubt that many people would pay that amount and then not turn up! But Linda, it is reassuring to hear that, it is kinda the way things are done. We actually found the place through the local tourist office in Sarasota - we were there last year and had picked up some brochures on rental places. We liked the look & location of this one, so we just looked up their website and contacted the owner through that. It was only when we confirmed by email with him that we wanted to place, that his 'Agent' took over. I don't have the rental agreement with me at the moment but I think the property might be on www.vrbo.com. We really do like the place (we drove past it last year), location wise it's exacly where we want to be, and the rooms look nice on the website, but I can't imagine paying out $2,400 for something I have actally set foot in! Do you know what I mean? I can't foresee any problems when we do get there and (though I know the owner doesn't know this) we are reliable/honourable people and woundn't dream of booking something and not turning up (short of a serious emergency)! Thank you all for your help - we'll have a think about it and hopefully it will work out! Orla

I've just had a quick look on vrbo.com (vacation rental by owner) & there are rentals in Sarasota at around that price but there are also a fair amount lower. Many rent for much more than $1,000/wk "in season" but are $690-950/wk in May. May is no longer a PRIME time in Fla. (it will be beautiful there then though) because by that time it's already nice in the rest of the country so people are not as desparate to get away. Just a "heads up".

Orla we were posting at the same time. I'm afraid I don't agree with your logic. You're from outside the country. If the owners wait til you arrive to get the rest of their payment, how do they know the checks will clear etc.? And from your perspective I think it's probably just emotional (rather than rational) that you don't want to pay it all up front. I suppose if you got there & it was terrible you might consider forfeiting the 1/2 you'd paid...

Anyway, I still think it sounds like too much money for May unless it's something really spectacular. Have you looked to see if there are other units in the same development? Have you tried to negotiate price? It's common practice here-although not always successful.

Yes Mclaurie you're right, there are cheaper places, but we really liked the look & location (Longboat Key) of this one! It's just what we want!

Mclaurie - Another overlap there I think. Surely we could pay the balance with American Express Traveller Cheques or Bankers Draft, both are as good as cash? Orla

I have a vacation rental in Florida that I acquired a couple of years ago. Having had only yearly house rentals before, I was unsure how to proceed. So when I found a Canadian renter who wanted to rent for 6 mos. the next year, I asked him what he generally does, as he'd been doing this for years. He said that he ordinarily paid half up front as a deposit, then paid the rest when he arrived, as well as a damage deposit. Based on what he told me I opted to take only a deposit, but I now think I'd rather take the larger amount because it's easiest to book a rental the year before. If I don't book it now then I could lose a 6-month rental and have to rent monthly, which costs an outrageous amount for advertising.

Your case of renting in May for this year is similar. People visiting Florida now are looking for places for the next months. If you don't book it, then someone else might. If you want it, I'd do what they're asking. The fact that they've sent documents suggests they're up and up, legit.

May is not THE season but it's not the low season either. Keep in mind that it's not been this cold in the NE in a long while. Tourism is already up this year in Florida. You could take your chances and wait until you're here, but if you've found a place you like, I suggest you tie it up so you have it taken care of. Or risk losing it.

Orla, I just have two tidbits to add to the excellent advice above:

1. Call the owner on the phone. I've rented over a dozen private homes, in the US and Caribbean, and I'm a big believer in "gut feeling". Ask some questions (what kind of coverings are on the bedroom windows? what age range are your neighbors?), and you should get a feeling of pride from the owner. If you get a bad vibe, stay away!

2. I have without exception prepaid for all properties. It does feel weird, but that's the way it is. I'm looking at a property in the Bahamas right now, and they want 50% deposit, and the other half 90 days ahead! No worries!

P.S. As a Gulf coast florida resident, that IS a high rent. That condo better be waterfront, or huge...or you're overpaying. Do a google search using the name of the condo complex in quotes, and see if you can find a ballpark rent for other units in the same place. While you're on the phone with the owner, you might ask why there's an agent involved if it's a VRBO listing...that's the point of vrbo, lower prices with no agent commission (I thought).

Thanks Joan, for your good advice and reassuring info! It is pricey, but it's a 2 bed, 2 bath, in a nice small complex with pool, and is just accross the road from the Gulf (drove past last year). Thanks again, Orla.

If you want to look elsewhere, try VRBO.com. Or vacationrentals.com. See what's going on. This might help you confirm that you have the best deal available.

Thanks TandooriGirl, I 'll do that!

Both times when I've rented a self-catering cottage in England, I've been asked to pay part of the amount up front as a deposit, and the remainder 4 weeks before arrival. This was the stated policy on the owners' website. I don't think it's that unusual to ask for the balance prior to arrival.

Just an FYI on why someone would list on VRBO then use a management company. Some people who live out of state and can't take care of managing it themselves, use a management company. This would include having a housekeeper to clean, etc., as well as security. It is basically rented by the owner, but the management company handles everything. And the owner will again have to pay a commission to the management company. I considered doing this when I started out, but when I found out that whoever rented, whether they were gotten from a by owner website, the management company or by me (friends, family, coworkers), I would still have to pay the 25% to the management company, which I wasn't too happy about. So I am managing it by myself, even though I am 600 miles away from my cabin. I befriended a neigbhbor who is a young stay-at-home mom, who is now my housekeeper, and she takes care of the cleaning, and her husband takes care of security/yard maintenance, etc. I pay him a very small amount per month to take care of that, and my housekeeper is paid by the cleaning fee I charge the renters. Some people have more than one rental property and want someone to take care of everything and money may not be a factor for them, they are willing to pay the fees to the management company. But with me right now, money is a factor. I've only owned the place less than 2 years and wanted to try it out, and so far it's working (knock on wood).

And, full payment prior to check-in is a must, especially when receiving personal checks, as they have to clear before the guests check-in, which is usually no more than 10 days. If someone pays me with a cashiers check, money order, etc., I forward them all their documents to get to and in our place as soon as I receive payment. Owners are also taking chances renting their places to individuals, because we have no idea who these people are or what they may do to our place. So far, I have only had one family in my place that, unfortunately, trashed the place in one week's time. After that nightmare, I still have to trust everyone going in, I have no choice. The bad thing is, I only collect a $100 security deposit, and it cost me more than that to cover the extra cleaning, changing the telephone number, etc. So us owners are taking a chance too, just as you are taking a chance on getting what you expect out of a rental.

I also advertise on VRBO.com, vacationrentals.com, among various other sites. If available, always check out the "past guest comments," and if those people leave their email addresses or phone numbers, by all means contact them, and they can give you the real scoop.

Hope this helps you, and happy renting!

Linda

That makes alot of sense...thanks Linda!

OrlaWall, keep in mind that Florida's landlord/tenant laws are slanted in your favor. The condo can't keep your deposit you pay to hold the property and use it for any damages that you do to the property, for instance. They have to take a damage deposit for that. And they would then have to provide receipts to show proof of their expenses that you caused to justify any deductions in the money they return to you. Lisa has listed some valid reasons why owning and renting property in Florida is not the dream you might think it is. On top of all those, Florida's laws are set up to protect the tenant. Be sure to question the landlord if you think you've been wronged -- you have more rights than he/she does.

Thanks Tandoori-Girl & Linda, It's really wonderful to get this level of help & advice. We're going to call the owner this evening and hopefully put our minds at ease. We really don't want to let it (the property) go, we're so looking forward to the vacation! Also it would seem, from all that you guys have told us, we would have exactly the same situation if we wanted t rent any other property! Thanks again, Orla