Velas Vallarta rental weeks

[genomicist]

Has anyone rented out their Velas Vallarta weeks? My wife and I purchased a studio at Velas last year and would like to rent out weeks we cannot use. I would like some guidance as to how to do this successfully if anyone on here is an owner and has experience doing this. I would think some people looking to stay at VV may not want to pay the all-inclusive fee and as an owner I'd like to offer that option in my rental ad. Can someone offer their wisdom here?

Thanks in advance!

 

[DeniseM]

Welcome to TUG! Unfortunately, the market for rentals in Mexico is mostly sales hype. One of the sales techniques that is very popular in Mexico is to tell prospective buyers that they can actually make a profit renting their timeshare - but it just ain't so. Right now with the price of airfare and the economy, the market is flooded with rentals. A studio will be especially difficult to rent.

Is the all inclusive fee mandatory at this resort?

You can actually buy, not just rent, a 1 bdm. at this resort on ebay for $1 - http://cgi.ebay.com/1BR-PUERTO-VALL...=39:1|66:2|65:1|240:1318&_trksid=p3286.c0.m14

 

[pammex]

Denise the AI is mandantory for exchangers or new contract owners.

I own 3 units at Velas all of them older contracts so the AI is optional for me as an owner.

Just wanted to let you know that info.

 

[DeniseM]

So would it be mandatory for someone who rents from an owner?

Thanks!
D

 

[california-bighorn]

Denise, the answer to your question is no. Renters renting from an owner have the same AI Option as the owner. We have rented our Velas Vallarta 1 bedroom twice (last time was last month) and both times the renters told us they elected NOT to go with the AI. However, if they did want the AI, the cost to them would be at the owners rate or about half of what RCI exchangers pay.

 

[genomicist]

California-bighorn,

Can you guide me through how you rent out your weeks? I also seem to remember that even though I bought a studio, I remember the sales guy saying that I could request a larger room. That may have been a sales lie, but that would be helpful in renting as well. Any input you can provide would be very much appreciated!

 

[california-bighorn]

Renting Velas Weeks

I advertised on TUG, Redweek and the last time on Craig's List where I rented to a couple who live just a few miles away. Never heard of upgrading to a larger room, although I won't be surprised if Velas will do it for a fee.
As mentioned above, studio units have very little demand. We originally had a studio then sold it and bought a 1 bedroom (all on ebay). We didn't plan on ever renting our unit , but a couple of years it just didn't work out for us to travel to PV.

 

[pammex]

So would it be mandatory for someone who rents from an owner?

Thanks!
D

No sorry should have explained better. If I rent one of my units, the renters have the same optional AI as I do, which means they can choose to do the AI, at a reduced price from the exchangers or choose not to do it at all. So in essence, they are like owners for the week.

 

[pammex]

California-bighorn,

Can you guide me through how you rent out your weeks? I also seem to remember that even though I bought a studio, I remember the sales guy saying that I could request a larger room. That may have been a sales lie, but that would be helpful in renting as well. Any input you can provide would be very much appreciated!

I personally have never rented out my weeks as I love Velas and well have the ability to vacation a lot. The studios are quite nice at Velas, though I prefer the one bedroom Villa Plus units, we like space. Two of our units are these and one is a studio.

Yes you can upgrade to a bigger unit for a fee, and it is quite hefty if I recall. You should have this info in your original paperwork I think, if not you can contact Velas reservations for quotes via email or telephone. ( JMHO, but I think the rate to upgrade would not be attractive to renting as the cost would be more than you could get to rent I think, not positive. I recall one of my friends who is an owner did an upgrade and it was expensive.)

We have exchanged our studio thru RCI though, and it seems to fare well at least in Mexico and even trades into bigger units. Actually for Mexico it trades better than my Mayan Regency 2 bedroom. Weird.

Anyway good luck in renting.

 

[buceo]

Welcome to TUG! Unfortunately, the market for rentals in Mexico is mostly sales hype. One of the sales techniques that is very popular in Mexico is to tell prospective buyers that they can actually make a profit renting their timeshare - but it just ain't so.[/url]

Unless of course you're referring to those "Mexican" Royal Resorts, likely some of the most profitable rentals around and for good reason. I think three or four are in TUG's top 10. My sales guy never even told me I could rent at a profit. This year we rented 7/7 of our winter weeks at a "profit" over the fees (not the purchase price)...we're heading to Belize instead. I make no predictions about next year (winter 2010), this may have been a good year in comparison.

 

[genomicist]

In your experience, when is the best time to rent out your weeks in PV?