Renting Your Week

[WildCat45]

If you've been able to rent your week (or partial week), what have you been able to get per night for it? Please also post the location you rented out, the season, and the method you used (TUG, RedWeek, Craigslist, etc), and the year (this is so we can see what the most current rates are vs. rates a few years ago). I'm trying to figure out the cost-benefit ratio of renting out vs. converting to HH points, etc. when I can't use my weeks. Is there a "market rate" that you can expect for a platinum season rental (i.e., a rule of thumb that's similar to the $1/pt rate for a resale...maybe like $150-200/night for a platinum season rental)?

All help and insight is appreciated. Thank you!

 

[Mosescan]

I’m curious about this myself but I suspect it’s going to be very location dependent. I’m sure I can get a lot more for my Craigendarroch lodge week than I can for my Vegas week. Likewise for Hawaii vs anywhere else.

My learning so far from the others here on TUG is that if you want to know what you can charge for rent then you need to see what others are charging for the exact same thing. Apples to apples as it were. Much like in the resale market people are going to take the units with the best price first and above a certain price they’ll just go straight to the resort to rent for peace of mind.

So I guess the short answer would be “that depends “

Location, season, competition, etc

 

[1Kflyerguy]

I would suggest you check the TUG marketplace or Redweek for rental listings of the resorts your interested. I am not sure there are really any hard and fast / generic rules you can apply to something as dynamic as rental rates. It will definitely vary by location, season and what is happening in the bigger marketplace. i.e. hotel rates, and the availability of VRBO, air bnb units, etc.

 

[WildCat45]

I would suggest you check the TUG marketplace or Redweek for rental listings of the resorts your interested. I am not sure there are really any hard and fast / generic rules you can apply to something as dynamic as rental rates. It will definitely vary by location, season and what is happening in the bigger marketplace. i.e. hotel rates, and the availability of VRBO, air bnb units, etc.

Yes, but the problem with checking the listings (which I've started to do) is that you can't see what has actually rented. That's why I want to hear from people who have actually done it to start to get a feel for what is possible.

 

[SmithOp]

I set my rental price per point, that way season, size, etc is irrelevant. I encourage people to consider the cheaper point cost for weekdays vs weekends.

I am able to charge 25 cents a point and make a profit due to my low buy in cost and low maint fee per point cost. Here is the formula I developed.

Calculating point rental rates.
(Annual Maint Fee + ((Purchase cost - Resale Value) / expected usage years)) / number of points= Your cost per point


Sent from my iPad using Tapatalk Pro

 

[Talent312]

If you've been able to rent your week (or partial week)...

Rather than a grab-bag of other rentals, how about posting your size, season & resort for more specific results?

I trust you know that renting "your week" means you must make "home week" reservation (unless you own a fixed week)
... only home-weeks are rentable... which means you may reserve a holiday week and thus, increase it's value.

-------------------------------------------------------
You didn't ask, but rather than go thru the trouble, how about "saving" them for another year?
... After saving them, you can deposit them to the RCI program for another year.

 

[WildCat45]

I trust you know that renting "your week" means you must make "home week" reservation (unless you own a fixed week)
... only home-weeks are rentable... which means you may reserve a holiday week and thus, increase it's value.

Can I reserve outside of my home week through the club and let friends/family use the reservation?

 

[Arimaas]

Can I reserve outside of my home week through the club and let friends/family use the reservation?

Guest reservations (which is any reservation where you are not present to check in) are allowed, but cost a $69 (?) fee. I'm not sure if you need to have the guest's information input at time of the reservation, or if you can amend the reservation later and turn it into a guest reservation.

 

[Talent312]

Can I reserve outside of my home week through the club and let friends/family use the reservation?

As WildCat says, friends+family can use any booking [except OS], but they need a GC.
You're just not 'sposed use club bookings for rental, although reportedly some have.
.

 

[PigsDad]

As WildCat says, friends+family can use any booking, ...

Well, not any booking -- Open Season bookings are for owners only (but you knew that ).

Kurt

 

[Talent312]

Well, not any booking -- Open Season bookings are for owners only (but you knew that).

Slap me with a wet noodle.
I knew it, but I ploughed right over it anyway.

 

[Gryphoak]

If you have a floating week, eg. platinum season in ski resort, can you rent out any of the weeks if you make a home week reservation? You don't actually have to own that specific week?

 

[GT75]

If you have a floating week, eg. platinum season in ski resort, can you rent out any of the weeks if you make a home week reservation? You don't actually have to own that specific week?

In order to make a Home Week Reservation, you must own the season, unit type in that resort and you book it for 7-days (non-changeable reservation). So yes, even if it is floating week but you make a home week reservation.

 

[Mosescan]

In order to make a Home Week Reservation, you must own the season, unit type in that resort and you book it for 7-days (non-changeable reservation). So yes, even if it is floating week but you make a home week reservation.

I think it also has to be between 12 and 9 months in advance as well. Otherwise if it is closer than 9 months it is a Club reservation and not a home week even if it meets all of the other criteria.

 

[Talent312]

I think it also has to be between 12 and 9 months in advance as well. Otherwise if it is closer than 9 months it is a Club reservation and not a home week even if it meets all of the other criteria.

Actually, you can make a HW reservation after the 9-month mark, but you don't get the exclusive hunting license that you do during the 12-9 month window. The Rules spell it out...

"After the Home Week Priority Reservation Window ends, Members will no longer have an exclusive window to book their Home Week, however, they may still make a Home Week reservation, subject to availability."
-- In the Travel Section

IIRC, this clause is fairly new. A few years ago, a poster related an argument he'd had with the call center over this issue and they ultimately caved.

.

 

[Cyberc]

I’ve not been able to rent my home week even though I tried. I own Vilamoura which is tough to get into but still no takers. Iirc I’ve listed it at both 0.20 and 0.25$ per point.

Problem is not bigger than I just canceled my home week and used the points for something else.

My DVC on the other hand, very easy to rent.

I think that you shouldn’t count on getting your home week rented out. If you can perfect but don’t count on it.

I’d talk to friends and family and ask them if they would be interested. To them you could book home or club season.

 

[WildCat45]

I’ve not been able to rent my home week even though I tried. I own Vilamoura which is tough to get into but still no takers. Iirc I’ve listed it at both 0.20 and 0.25$ per point.

Problem is not bigger than I just canceled my home week and used the points for something else.

My DVC on the other hand, very easy to rent.

I think that you shouldn’t count on getting your home week rented out. If you can perfect but don’t count on it.

I’d talk to friends and family and ask them if they would be interested. To them you could book home or club season.

Good info...thanks. What venue do you use (Redweek, etc.)?

 

[heisenberg815]

I own July 4 week at Ocean 22 in Myrtle Beach and get 24,000 points per year which equates to 2 three-bedroom oceanfront units and one 1 bedroom oceanfront unit per year. I rented two of the three last year and used the other. I didn't know the $0.20 - $0.25 rule of thumb but I was able to rent a three bedroom and a one bedroom for just under $0.22 per point each so that rule of thumb seems appropriate. I listed on VRBO.com so after fees I took home less than the $0.22 per point.

 

[Cyberc]

Good info...thanks. What venue do you use (Redweek, etc.)?

I’ve listed here on tug and redweek.

 

[jehb2]

"After the Home Week Priority Reservation Window ends, Members will no longer have an exclusive window to book their Home Week, however, they may still make a Home Week reservation, subject to availability."
-- In the Travel Section

So do you have to pay the $59 reservation fee or is it free since it is still considered a home week reservation?

 

[seagila]

So do you have to pay the $59 reservation fee or is it free since it is still considered a home week reservation?

I've reserved my Home Week at less than 9 months from check-in a couple of times now and have not had to pay the Club Reservation Fee. I really appreciate having the benefit to book my Home Week at anytime during the use year as long as I find availability, specially given the increase in Club Reservation Fee (now $65 online, $80 by phone).

The question of booking your Home Week throughout the use year has been discussed before -

https://tugbbs.com/forums/index.php?threads/home-week.205180

Glad HGVC finally made the rule unambiguous in both letter and practice.

 

[CalGalTraveler]

Has anyone had luck renting their unit through sites such as VRBO, HomeAway, or AirBnB?

 

[jehb2]

...increase in Club Reservation Fee (now $65 online, $80 by phone).

Seriously!...Seriously!!! What, are computers people too. Are computers demanding equal pay for equal work.

 

[Talent312]

Seriously!...Seriously!!! What, are computers people too. Are computers demanding equal pay for equal work.

Hey, it takes talented, highly-paid IT geeks to load all those nifty resort pictures into the system, and cleverly design their webpages to look like they were put together by a 4-year old.
.

 

[Tamaradarann]

Hey, it takes talented, highly-paid IT geeks to load all those nifty resort pictures into the system, and cleverly design their webpages to look like they were put together by a 4-year old.
.

I don't mind the pictures and webpages looking like they were put together by a 4 year old, they could be put together by no one for all I care. I just which they would test the system and let the owner/members test the system and fix it before they release it instead of making us struggle.