rental payments

[wrighty]

hello all,
Still waiting to complete on our place near ti Soverato in Calabria, i was wondering what would be the best way to take payments. My thoughts were to take a deposit of around 25% then the remainder 6-8 weeks before, with the euro being particularly poor at present i thought it may be more benificial to ask for payment in euro rather than pounds and ask for it to be paid electronicaly into the bank account. I would welcome any advice on the subject.

Thanks in advance

[Mouse]

hi Wrighty...there's a thread concerning the euro v pound debate running at the moment.

As for deposit, I take 50% but that's the norm here so it may depend on what other places in your area are doing. I agree with the 8 wks for final balance (inc damage deposit if you're taking it). I used to do 4 weeks but some people took ages so now I do 8 wks which is plenty of time even with slippage

Mousie
x

[Musetta]

I take the damage deposit upfront and then 50% 60 days prior to check-in and 50% 14 days prior.

I love it when people give me Euros right now I take payments via paypal in Euros or USDollars and then transfer them myself (becasue I have no online banking access - been trying for over a year and I don't really trust things getting into my account in Italy...I NEED to see that they have actually paid and it went through to take a booking!)...

be warned though (and I don't know your situation or who you will maket too...been away myself for a few weeks and not nearly caught up on all the new threads!!) that Americans will NOT like to do wire transfers AT ALL...it is VERY, VERY expensive from here and they do not trust them - all my US guests have paid by credit card (and one personal check). I say this becasue, for some reason, most of my bookings are Americans...only two weeks booked by someone from the UK this season...'course I think that is, in part, becasaue I am American and they have picked up the phone and called me and feel more comforatable renting from me...so that could explain it (must be my charming phone manners )

Also...and I actually am TOTALLY the WRONG person to ask about this becasue I am still trying to figure it out myself!! but...I think you are suppossed to registar your property in Italy as a rental if you are planning on renting it a certain number of ays and/or making "x" amount of profit...don't know the limits...and, of course, pay taxes on your profit...and all payments must officially go through your Italian bank....just throwing that out there...don't know any details though and I'm not able to do that at the moment.
Good luck!

[paolo]

Americans will NOT like to do wire transfers AT ALL

They would certainly prefer to pay by credit card, but if you only offer wire transfers they will pay this way too, or at least some will. Until the dollar nosedived I was renting mostly to Americans and they were mostly paying by wire transfer. It does mean a visit to the bank for them and costs can be quite high. Despite this though, it is possible to successfully take bookings this way.

I take payments as you are thinking of doing: 25% to book and the balance 8 weeks before.

[Musetta]

good point. I should not generalize...

ok, ok already...I admit it...I don't like to do wires from the US costs me $25 per transfer to send and I get a rotten exchange rate...also...and ok...another BIG generalization, I know..but a browse through US-based forums (i.e. fodors, frommers, etc.) and you will see that many Americans feel a bit more secureby using a credit card as they are not used to wires as forms of payment as much as Europeans. (and yes, the dollar is so awful right now...so I'm sure cost-cutting is on every US traveler's mind at the minute)

Sunny Calabria may attract Europeans more than my spot though...so may be totally irrelavant what Americans think anyway