Manhattan Club - Sell, Rent, ?

[carolsut]

I have had a Manhattan Club floating week for 6 years now and we have always used every single day at that property. With increasing MF and kids growing up and losing interest, we were considering selling. I joined TUG and have been reading everything I can on the subject, concluding that this may not be the time to sell. So, I'm considering renting. My questions to you with more experience are, can I expect to cover my MF by renting? What's my first step? Should I book up a particular week and try to rent that specific week? or should I offer single nights and try to book them when interested parties show up? Would appreciate hearing from anyone who has experience with Manhattan Club or has had similar situation. Is this a property that people will be interested in buying or renting?

 

[DeniseM]

Welcome to TUG!

Your first step is to read the "How to rent your timeshare" article, at the top of this board.

I think if you just want to cover your MF that renting is a good option, but be aware that the whole travel industry is depressed in this economy, and rental rates are down.

If it is easy to change your reservation at this resort, I'd reserve a popular holiday week, but also advertise that other weeks/days are available upon request.

 

[Jennie]

I know some owners and am familiar with the successes and frustrations they have had trying to rent their weeks.

A major complaint of owners, even those planning to use the time themselves, is the chronic lack of availability of desired nights and weeks unless you make a resevation way in advance, preferably one year ahead of the desired check-in date. Call at 9:00 a.m. sharp!

By all means choose a very desirable week such as Christmas week, and most any week in July or the first half of August. As already suggested, state in your ad that other dates may be available, and offer to check for availability of other dates. But do not cancel the desirable week until you receive at least a 50% non-refundable deposit. Most people who are successful in renting the week, usually receive several hundred dollars less than the maintenance fees they paid for the year but it's better than nothing.

Do not place an "open-ended" ad with no dates reserved because by the time you get an inquiry, you probably won't be able to get the dates.

You should consider placing a free ad here at the TUG Marketplace, and also at www.redweek.com . Some people have also had success with free ads on Craig's list but be careful there because it is rife with scam artists.

I'd recommend that you join the Yahoo Manhattan Club owners group--it's free: http://groups.yahoo.com/group/manhattanclubowners/
Once in awhile an owner will post a message that he is looking for an extra week to rent. They also discuss many complaints about the ever-increasing maintenance fees and deterioration in the upkeep of the units, and especially the difficulty encountered in trying to book their time. Last summer they mounted a telephone and Email campaign trying to get the NY Attorney General's Office to investigate the problems. I'm not sure what the current status is.

Manhattan Club weeks are not selling well, even at rock bottom prices on Ebay. There are hefty closing fees too if a buyer is found. Most owners feel it's better to hold onto their week instead of accepting pennies on the dollar unless they desparately need the money, or relief from the high maintenance fees.

To get an idea of what your type of week package is selling for, you can contact Seth Noch, a broker who specializes in Manhattan Club and other high end timeshare properties: (212) 677-7636 www.sellingtimeshares.net

Good luck!

 

[e.bram]

Ads on the BB

I thiught ads for a commercial enterprise were not allowed on the BB. I guess I am wrong. Must be you ghave to know somebody.(like IL ond NJ)

 

[Blondie]

Last year I tried to rent from two owners. They cound not get the June 08weekend I needed even 9 mos out. I found what I needed at the Manhattan club on hotels.com if that is any indication of where the weeks are. Do reserve something asap and list it.

 

[DeniseM]

I thiught ads for a commercial enterprise were not allowed on the BB. I guess I am wrong. Must be you ghave to know somebody.(like IL ond NJ)

It is absolutely fine to recommend a timeshare service that you are not affiliated with.

It is not OK to recommend a company that you are affiliated with.

If you ever see a post that is not appropriate, please click on the red triangle and report it.

 

[e.bram]

DeniseM:
How can one tell if a promoter is doing it for themselves, promoting something in which they do have an interest or if its a legitimate recommendation based on personal expierence?

 

[DeniseM]

DeniseM:
How can one tell if a promoter is doing it for themselves, promoting something in which they do have an interest or if its a legitimate recommendation based on personal expierence?

If a post is reported, and it's not immediately clear if it violates TUG rules or not, the TUG Admins. investigate the source. If it's an honest mistake, the post is just edited and the person gets a warning or just an explanation of the rules. If it's obviously a spammer, they are permanently banned. I am sure a few slip through, but Tuggers are great about reporting suspicious posts, so not too many.

 

[#1 Cowboys Fan]

Did you get the PM I sent?

I have had a Manhattan Club floating week for 6 years now and we have always used every single day at that property. With increasing MF and kids growing up and losing interest, we were considering selling. I joined TUG and have been reading everything I can on the subject, concluding that this may not be the time to sell. So, I'm considering renting. My questions to you with more experience are, can I expect to cover my MF by renting? What's my first step? Should I book up a particular week and try to rent that specific week? or should I offer single nights and try to book them when interested parties show up? Would appreciate hearing from anyone who has experience with Manhattan Club or has had similar situation. Is this a property that people will be interested in buying or renting?

I sent you a Private Message (on TUG)---did you get it?