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OMG...I have an offer to Rent or Sell my Suite.
Now what the heck do I do?

As Webmaster of this site this is a repeated question that I receive from Owners. So I will relate to you how we have handled both the rental and the sale of some of our weeks.

I am not a lawyer and these comments are not instructions on how to handle your dealings. These comment are how we have handled our transactions.

Renting

Our Children come to the Inn every other year, so one year we are renting extra space from other Owners, and then the following year we have extra space for rent. This is the practice we follow on both sides of the rental process.

I, the Lessee am renting a unit from you, the Lessor. After we have agreed on the deal then the Lessee will mail you a check, or pay you by PayPal*. Upon the Lessors receipt of funding he will then contact the Inn's Guest Service's Office,

The Lessor will give them the Lessees contact information and have them extend "Guest Privileges" to the Lessee for the week/s in the deal. They will issue to the Lessee by email the authorization for the use of that time. The Lessee will need to make a copy of this communication and have it to present to the front desk when checking in.

This same process works if i were the Lessor offering my time and you are the Lessee. I do practice having the Reservation Office copy me on the issuance of the authorization email. This just keeps all parties in the communication loop.

The procedure has worked for us and in the 5 or so years we have use the Web Site for the facilitation of rentals we have not experienced any problems.

* PayPal maybe a more secure way of paying the rental fees, as it does protect the buyer, but we have use this vehicle.*

Sale:

This is a different animal and we are probably talking a greater exposure, considering funds transfer, and handling the Title Transfer Fee.

In this case I am relating the experience of dealing with a stranger that we did not know. We had week for sale and from the listing on the Owners Web Site received a call from a gentleman in Chicago. He offer to pay our asking price, and asked that I send the Title to his attorney in Chicago who had the funds in escrow for payment. I was leery of sending an endorsed Title to his attorney or for that matter any attorney, especially in Chicago

I approached a local Title and Escrow Company and for $125.00 they would handle the transaction. I returned with this information to the Buyer and emailed him the Escrow agreement to sign, and offered to absorb 1/2 the $125.00 Escrow Fee. This prospect never answered any communication after that point. The Ole adage of following one's "Gut Feeling" works most of the time.

We have successfully used this arrangement on the sale of this property in a later deal. It was clean and both parties were protected under the umbrella of the Title Escrow Company.

Caution:

1) The Title must be signed and notarized by both parties. Then forward to the Inn's Guest Services for reissue.

2) Note that many options that a Owner may have paid for are not transferable. i.e. Acceleration, Prepaid Maintenance Fees, etc. If you have these amenities be certain that they are transferable prior the sale.

2) Ownership Expiration Date: if you have accelerated then your expiation date may not be 2039.

3) There are suggestions on the mailing of the Title, and these are shown on the Guest Service's Office page:

I hope this may be of assistance to you, and we welcome any other suggestions that you might want to share with all Owners. The rental and sales system is somewhat fool proof and to my knowledge in the 6 years of the web assisting Owners in making rental and sale transactions, we have NOT ONE COMPLAINT.

WOW! What a Statement on Ethics of the Owners at the Inn At MZT.

Copyright © 2009 by The Inn At Mazatlan Owners, Elephant Butte, NM.
All Rights Reserved.

Revised November 28, 2015 10:35 AM