Friday, February 13, 2009

But the law's in the way...

If you've been reading from the bottom up, then you're up-to-date on the hypothetical question of "What to do?" about being a really big overnight rental company that has lots and lots of money in escrow.

And, yeah, (sucking teeth). You need that juicy money, but there's a pesky law standing in your way. Tennessee Code Annotated, Title 47, Chapter 18 and Title 62, Chapter 13, Section 62-13-104(b)(3), Subdivision (D) ~ Prior to May 2003. 

Prior to 2003, the VLS rules were that a vacation rental management company was not entitled to any monies until the guests' departure.

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