Renting Wyndham Access Points

[Oldtimer1029]

Has anyone had experience with Extra Holidays by Wyndham renting your points through their program? I'm not going to use my points this year. I was told by Wyndham that they will post my reservations that I have for rent. I make the reservations, they sell them and I get 60%, they get 40%. If they don't rent these reservations, I can cancel within 15 days of the check-in date without any penalties. Any advice or problems in this program? I would appreciate anything that will help. I'm trying to get my maintenance dues paid and hopefully make a lit bit on this lousy timeshare ball and chain.

 

[vacationhopeful]

You are listening to the Sales staff BS. And the sales staff is NOT ALLOWED to rent units for YOU.

Did they tell you, your reservation for 7 nights might ONLY get rented for 1 night .. leaving the other nights UNRENTED and orphaned?

And that you have to buy a $99 guest certificate (or use your 'free' one).

And the info about cancelling your reservation at 15 days out ... Never heard that one before as others have reported that if a check arrives it would be 30 days after the checkout date.

And the best part is, Wyndham will issue a 1099. (the IRS form for Misc Income).

You could "gift" or "rent" vacation stays to family and friends ... use a vacation stay for a fund raising gift for a charity (as a contribution of its costs).

 

[vacationhopeful]

If the MFs are impossible to pay ... you can GIVE (for free) your ownership or part of your ownership back to Wyndham for FREE (if there is no loan outstanding). Their program is called "Ovations" ... there are other threads on TUG here with more details.

 

[Oldtimer1029]

vacationhopeful, thank you for your replies.
I talked to the staff at the Wyndham Extra Holidays number in Florida. Is this "rental" then considered a guest reservation because it won't be occupied by me? So they will steal another $99 from me for that?
I have 2 reservations, each listed for 2 bedroom, 3 nights. They never mentioned renting for less than what I booked, They assured me there are no fees, nor did they tell me that I would be issued a 1099 Int form. Just standard crooked Wyndham business practices, I should know better by now.
The contract is totally paid and I've contacted both Wyndhams' Ovation and buy back offices. I've asked about the Ovation and Pathways programs and I'm told that I cannot sell back, give away or donate this timeshare for 5 years from the purchase date. I'm also told that at that time, if we still want to be rid of it that Wyndham will buy it back for 20% on the dollar.
That means that I must pay ever increasing maintenance fees until July of 2019! (We bought this package of air in August of 2014.) They made me to also understand that, because of the Perpetuity clause, if I and my wife should die before this date that this timeshare would pass through our estate to our children and that they will be responsible for increased monthly maintenance fees to pay! Our children do not want any part of any timeshare.
Is any of this true? I'm sure that other people have had this same experience with Wyndham Access. Has anyone been able to get any relief from this burdensome load of garbage? If so, can you advise us as to how to do anything with it?

 

[Jan M.]

First of all your children have no obligation to accept the timeshare when you pass. They can decline inheriting it.

Second, you most certainly can sell your timeshare at any point.

Third there is a fifteen day window before the check in date that reservations can be cancelled without penalty and the points returned to your account. For instance today, March 17th would be the last day to cancel a reservation beginning on April 1st. If by that date anything you list with Extra Holidays or anyplace else hasn't sold you can cancel the listing and the reservation.

I'm not a fan of Extra Holidays but for many people who don't want to be bothered figuring out how to list and rent or have to deal with renters it is certainly an option. Typically the best reservation to try to rent through them is a weekend reservation, especially a 3 night holiday weekend stay. If you turn a 5-7 night reservation over to them to rent you do risk them only selling 2-3 nights of it and you just lose the remaining nights. Yes they get to keep the remaining nights and use them however and you get nothing for them so those 5-7 night stays are risky for you.

You didn't say how many points you own and I gather that you have Club Wyndham Access points. You may just need some help in figuring out how to book and use your points. Have you considered listing the stays you would like to sell here on TUG?

 

[Oldtimer1029]

We own 205,000 Club Wyndham Access points along with 205 housekeeping credits. I have seen that we can put these points up for rent on TUG and I'd like to, but I don't know how that works.
I'm also very spooked by the numerous crooks who have called me with a lot of "Too good to be true" proposals for them to sell, rent, etc.our points. The timeshare industry is heavily laden with these conmen and conwomen and I don't know who to trust. I think that if I could understand how TUG works, that I would find honest people to deal with. But, I just don't understand it. I'll keep researching and trying to get it. Thank you Jan M. your reply is appreciated.
I was made to understand that the contract that we signed tied the timeshare to the estate and that if we left anything of value to our children that the timeshare had to be accepted as a part of that estate. You sound to me as though you're one of those honest, knowledgeable people. Thanks again.

 

[chapjim]

They never mentioned renting for less than what I booked, They assured me there are no fees, nor did they tell me that I would be issued a 1099 Int form. Just standard crooked Wyndham business practices, I should know better by now.

Failure to inform you that a 1099 would be issued hardly a crooked business practice. Rental income, like any other income, is reportable. Anyone, other than an employer, who pays you more than $600 must issue you a Form 1099. But, income is reportable whether or not you get a Form 1099 or whether the income exceeds $600. Banks will provide a 1099 reporting interest income regardless of the amount.

Yes, I am an attorney. No, you are not my client so no attorney-client relationship exists.

 

[ronparise]

Failure to inform you that a 1099 would be issued hardly a crooked business practice. Rental income, like any other income, is reportable. Anyone, other than an employer, who pays you more than $600 must issue you a Form 1099. But, income is reportable whether or not you get a Form 1099 or whether the income exceeds $600. Banks will provide a 1099 reporting interest income regardless of the amount.

Yes, I am an attorney. No, you are not my client so no attorney-client relationship exists.

you mean that advice I got from a timeshare salesman, that if there is no 1099, there is no tax obligation, is bad advice...

 

[Oldtimer1029]

Thank you to the folks who've responded to my posts. I didn't make myself very clear, I do understand that a 1099 will be issued for any rental income. However I did not even imagine that Wyndham could rent out like 1 or 2 nights of a 3 night booking and I'd lose the "orphaned" nights. I'm just terribly overwhelmed by all of the outright lies and subtle deceptions that the timeshare industry can get away with. The more I know the more I regret the day that I accepted a "free vacation" from them.
Can anyone explain the "In Perpetuity clause" and how I can legally make sure that none of my children get saddled with any of this?

 

[Jan M.]

Thank you to the folks who've responded to my posts. I didn't make myself very clear, I do understand that a 1099 will be issued for any rental income. However I did not even imagine that Wyndham could rent out like 1 or 2 nights of a 3 night booking and I'd lose the "orphaned" nights. I'm just terribly overwhelmed by all of the outright lies and subtle deceptions that the timeshare industry can get away with. The more I know the more I regret the day that I accepted a "free vacation" from them.
Can anyone explain the "In Perpetuity clause" and how I can legally make sure that none of my children get saddled with any of this?

I think you are letting the "in perpetuity" part worry you needlessly. It means you own it forever unlike some other timeshare systems like Disney or those in Mexico where your ownership ends in certain number of years, most of them are 25 years I believe. If it will make you feel better and you have a will, make your Wyndham ownership a separate bequest from the rest of your assets and property and the named individual has the option of refusing it.

I think it is very unlikely that you will make back your maintenance fees renting through Extra Holidays and suggest you credit pool this year's points if that is still an option. I don't own Club Wyndham Access as I prefer to have deeded ownership so I'm not familiar with how the credit pool works for CWA. The fee is $39 and it would extend the points for three more years. If you call in a vacation counselor can help you figure out if you are still able to do it for this use year.

 

[vacationhopeful]

Wyndham employs some real 'operators' in the sales group. Remember, they only get paid when they con you into buying more timeshare stuff from them. They are not lawyers ... and in real estate law, it must be in writing. Verbal promises are not enforceable. Just refuse to go to any more presentation or to get you free gift ... there is no such thing as an owner's update or them teaching you how to use your timeshare .. if their lips are move, they are lying.

205K is a smallish ownership. A week in a 1bdr unit (around 140-154) or 2bdr week (around 189-203). $125-135 MFs monthly?

If you can't CREDIT POOL this years points, credit pool USE YEAR 2018 points for a vacation THIS YEAR (2017). Credit pool moves points either in future years or back to this year. USE YEAR 2018 .. use what YOU need, then use the leftover points in 2018 after Credit pooling 2019.

 

[bendadin]

I'm sure that if you listed it on the Bargain board for closing/transfer that it would be claimed within minutes although the clause about not transferring for 5 years seems a bit foreign to me. If a contract is paid in full, how can they do that?

 

[chapjim]

you mean that advice I got from a timeshare salesman, that if there is no 1099, there is no tax obligation, is bad advice...

Worth every penny you paid for it!