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The standard payment method for the rental proceeds is a check in US Dollars payable to all members of record. Members may change this standard payment method and one of the options for this change is to receive a wire transfer.
The requirements to receive your rental proceeds as a wire transfer are the following:
Any document that fails to adhere to the requirements will be refused acceptance and will be returned with no exception.
The following are examples of documents that will NOT be accepted:
Please take into consideration that it is mandatory to process a wire transfer that the Bank Account belongs to one of the members on the contract. No exceptions.
For accounts with a deceased member the wire transfer cannot be processed. Members can contact Membership Services at Panam Export Services LLC to process the corresponding Tittle Change to remove the name of the deceased from the account. Please ask for more details to one of our counselors in Membership Services.
Panam Rental Program (operated by Panam Export Services LLC.) offers Royal Resorts Caribbean members the opportunity to earn rental income when you are not able to use your property:
Panam Rental Program has the experience, professionalism and customer service needed when managing a vacation rental. We have been in business since 2001 and our leadership team has the management and hospitality experience needed to rent your unit effectively.
Royal Resorts Caribbean Members can enroll their unit online or completing and returning the Rental Enrollment Form. There is no upfront fees to enroll your unit in Panam Rental Program. We offer great flexibility for these enrollments, members may deposit:
The payment of the rental distribution proceeds for the Royal Resorts Caribbean Members will equal 70% of the net rental rate. Net rental rate is the total rental rate minus taxes and service fees as well as the cost of any other service, included in the rental rate which is not part of the occupancy value (meals, transfers, etc). Taxes and fees for the resorts are as follow:
Payment of rental proceeds are made in checks in US dollars payable to all Members of record and are mailed approximately 14 days after the end of the week enrolled in the program. Members also have the option to change the payment method to a check in US dollars payable to the primary name on the membership agreement or a bank transfer. This Rental Payment Form will need to be completed and returned to process this change.
Don't let your timeshare unit go unused if your vacation plans to the Caribbean are not possible for this year. Enroll your unit in Panam Rental Program and let us work for you.