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[emoji106]gotta love those short term rentals[emoji106]

Discussion in 'TUG Lounge' started by Fredflintstone, Jan 12, 2019 at 6:41 PM.

  1. Fredflintstone

    Fredflintstone TUG Member

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    As I rent only, I gotta say those 45 days or less no more than 700 for a week timeshare rentals are awesome deals!

    The owner recoups at least some of their maintenance fees costs, I get a nice place cheap and the resorts gets the fun of trying to book me into a OWNERS UPDATE (not).

    Hey Brian, why doesn’t TUG set up a pick up and go section where the booking is no more than 2 weeks ahead and the maximum charge is 400? Fire sales are for me!


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  2. Ken555

    Ken555 Tug Review Crew: Rookie TUG Member

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    Glad to hear you’re enjoying the last minute rentals.

    In many cases, the max allowed TUG limit of $700 IS a fire sale price. Perspective.


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  3. Fredflintstone

    Fredflintstone TUG Member

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    I would agree. I have been in some where the MF alone was 2500. A true gift!


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  4. LannyPC

    LannyPC TUG Member

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    And timeshare companies wonder why so many owners are either desperate to get out, defaulting, or hiring these relief/exit/cancel companies (or all of the above).
     
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  5. Fredflintstone

    Fredflintstone TUG Member

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    Very true. and maybe that’s why timeshare companies are starting to create exit programs themselves. They are slowly learning that refusing to help those who want help results in added costs to other owners in the end (bad debt expense) and a further risk to them of spiraling defaults.

    I believe that’s why many states have non judicial, anti deficiency laws. It makes foreclosure faster, cheaper and easier and protects the defaulted owner from deficiencies.

    Personally, I am amazed how much a resort needs to maintain a unit. Even at 1000.00 a week, that’s 52 k a year. To me, it just should not cost 52 k a week to maintain a 1000 square foot condo. Many TUGGERS disagree with me on that point. They argue that maintaining all the facilities costs at least that. They are entitled to their opinions.

    I am just grateful I get the opportunity to rent a nice timeshare for a week for 700.00. I know many eat the costs somewhat thru their maintenance fees. I suppose that’s a cost they accept as being an owner in a contract.


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  6. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

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    You are NOT just maintaining the unit, you are maintaining the unit PLUS, the facilities (pools, lazy rivers, and all kinds of other things), you are planning for long term big projects and furniture replacements by putting money into reserved so that soft and hard updates happen regularly, you are covering the front office and activity staff, the lawncare, flowers, landscaping, trash removal, recycling, security, snow removal if you happen to be in that area, insurance, blah , blah blah.....

    It is NOT just maintaining a unit that goes into the cost. If that were all it would be cheaper, but if you needed a new roof on a building OOPS, special assessment.

    People who expect 2 and 3 BR unit in Hawaii, or New York or at the Beach or over Holidays, and will only pay $400 is part of problem too. You have learned to expect someone else to supplement and pay for part of your vacation. And some people do it because they are desperate. I don't and other here don't. More power to you if you can find what you need, but that is why many people who have premium units will not put them on LMR or will only put them on LMR if things are indeed dire.

    If my MFs are $1500 for a 2 BR Hawaii Holiday week, I certainly do not want to put it on LMR to lose more than half of my MF costs. I have even been harassed by people how have found my For Rent ad but only want to pay the LMR price and call and email for 6 months to "just give it to them because they know I am going to have to in the end". NOT this person.
     
    Last edited: Jan 12, 2019 at 11:52 PM
  7. Fredflintstone

    Fredflintstone TUG Member

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    Yes Sandy. I am aware of the arguments and your comments fall in line with many. I respect people’s views on it. Let’s just say we can agree to disagree.

    Again, I am just glad to rent out units at 700 a week from generous TUGGERS who eat the balance of the costs thru their maintenance fees. Some of the ones I have rented were 2500 a week (one in Maui) and I was happy to rent it for 700.


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  8. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

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    We can agree to disagree, but you won't be renting a unit from me is all I am saying.
     
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  9. Fredflintstone

    Fredflintstone TUG Member

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    That’s fair. I have many that do.


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  10. sue1947

    sue1947 TUG Member

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    I'm with Sandy. You want a decent place to stay, then pony up the money to maintain the building and the support staff. You want cockroaches and dirty toilets, go for the $400 rentals but then don't whine about the condition or the fact that bargain isn't there in a few years when the assessment and bankruptcy happens.
    And coming on a timeshare forum and telling us we are stupid to own while you mooch off of us by renting below MF rate; just wow. I have a low tolerance for pompous and arrogant. Done.
     
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  11. Fredflintstone

    Fredflintstone TUG Member

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    No where did i say or imply you or any one is stupid. I am simply grateful for the rental. Thats all. Sorry if you are taking it badly as i am simply thanking others for their generosity. Many have said they would rather rent it for 700 then leave the unit unoccupied. I think thats nice of them.


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  12. LannyPC

    LannyPC TUG Member

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    Hence, the reason why TUG has the LMR board on these forums.
     
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  13. LannyPC

    LannyPC TUG Member

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    Again, hence the LMR board for owners who are trying to recoup some money rather than zero.
     
  14. Chrispee

    Chrispee Tug Review Crew: Rookie TUG Member

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    Your choice of words is unfortunate. Tuggers posting in the LMR aren't being "generous", they have an unforeseen issue that has forced them to rent their units out for less than their cost. Great that you get a deal, but raving about the financials is in poor taste IMO when you're riding on a member of the community's back.
     
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  15. Fredflintstone

    Fredflintstone TUG Member

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    Yes most have said they are renting it out due to unforeseen circumstances. They decided to place it in last minute rentals and 700 is less than their MF. They could just let the unit go unoccupied. I am grateful for the last minute rentals and do appreciate people sharing their space even when it is at a loss. I am perplexed at why people think i am mooching. I am gladly paying the rental amount and appreciate that people are being generous to let me rent it even at a loss. Look I may not be a believer of ownership but respect those who choose to be owners. I suppose renting a week at a loss is a sore point with some. I am simply renting at the amount requested and appreciate it. I really dont get all the animosity.


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  16. regatta333

    regatta333 TUG Review Crew: Veteran TUG Member

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    Perhaps from your suggestion that a new forum be started with max rentals of $400 for one week stays within two weeks of check-in.
    If you are already grateful for a great deal, why try to squeeze sometimes desperate owners for even more savings to your benefit
    and their detriment? You are always able to offer less in the LMR forum.
     
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  17. am1

    am1 TUG Member

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    In poor taste. I always thought the lmr should have a higher limit so it is not full of mud weeks and low quality resorts. But at this point no longer an issue for me either way. If $700 is such a good deal maybe offer to kick in a little more send a gift card as a thanks afterwards to show your appreciation.
     
  18. bluehende

    bluehende TUG Review Crew: Veteran TUG Member

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    I am not sure why all the animosity over a transaction that is willingly entered by both parties. It would be great if we could all rent out our units for more than MF but that is not the reality. If you have the same animosity about RCI last calls then I am guilty also. Since I have used the LMR board too I guess I am multiple moocher.
     
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  19. SmithOp

    SmithOp TUG Member

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    There have been a few lately where a low ball offer was made as a post for all to see, IMO these are poor taste and should be send privately as a direct message.

    If you dont want to accept the $700 limit there is always the Distressed board to break even.


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  20. Fredflintstone

    Fredflintstone TUG Member

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    I agree.

    Think of it this way. I am sure everyone at some point in their lives recognized a great deal and bought it up. Did any of you think about that poor desperate seller and say to them, “Look...I know this price is less than what you paid. Why don’t I throw in a bunch more money so you can break even or make some money?”

    How many of you got a smokin timeshare resale deal? You know the seller paid thousands more for that timeshare. How many of you see your resale deal as taking advantage of someone and feel you mooched? I doubt any of you.

    I should add I have seen many posts of people bragging about their resale deal. I never saw that to be in poor taste. I saw that as simply a smart buy.


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    Last edited: Jan 13, 2019 at 11:07 AM
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  21. klpca

    klpca TUG Review Crew: Veteran TUG Member

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    Most of my units are more than $700/year in maintenance fees and replacement reserves (lets not forget about both parts of the annual cost). If I can't use it, even at almost the last minute I can still make a late deposit somewhere - I made one at RCI about 10 days out. I will recover some of my cost that way. Otherwise, I am giving it to someone - a friend or family member - so that someone can benefit. It won't be showing up in the LMR board that's for sure.

    Besides, I think that a lot of the last minute rentals are exchanges anyway. My personal thought is that those illegal rentals keep the LMR board going. If it was just owned units, there would be a lot fewer rentals imo. Of course that is all speculation on my part so I could be wrong, but when doing searches for short stays on II, I have seen quite a few gems show up on the LMR board a few hours later - with the exact same 6 day dates.
     
  22. PamMo

    PamMo Tug Review Crew: Rookie TUG Member

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    Fredflintstone, I think you might underestimate the general sense of community here on TUG.
     
  23. LannyPC

    LannyPC TUG Member

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    By one stretch, I get what you're saying. OTOH, I will add to what others have said about where the MFs go. For one thing, not all units have 52 weeks owned. Some might be shut down for a week or two for maintenance of some sort. Hence, only about 50 owners. Then some units will have delinquent owners so that reduces the amount paid in to maintain the unit.

    Then there are property taxes which are put into the MF bills. Property taxes are beyond the control of the resort. Then there are furniture and fixtures replacement costs which, in most cases, are done more often than at residential homes.

    I could go on but I think you get the point. I don't know if you used to own one but if you did, you could probably read your archived MF bill which should break down where your MFs go. You will see that they are not all directed at the one interval or unit you own.
     
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  24. LannyPC

    LannyPC TUG Member

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    This argument comes up quite a lot too regarding these low-cost, no-frills airlines.
     
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  25. Fredflintstone

    Fredflintstone TUG Member

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    I hear you. I suppose I’m not a fan of being locked in to anything. I know many owners feel the MFs are quite reasonable for many of the points you outlined and many feel they get great value for their MF because their resorts are very nice.

    It’s just my math in my head. I just can’t get over 50 k a year and up is needed to maintain a condo and 1/50 of the common areas. That’s just me though and perhaps it’s because I relate my costs to my home and it’s doesn’t cost that much.

    Yes, I used to own timeshares and frankly rising MF was why I dumped all of them. I found it was better to rent them when I wanted one and have better selection of location, etc.

    That said, I did enjoy my timeshare years and still enjoy some of the timeshare resorts I have rented. There are many beautiful resorts out there.

    The reason I engage in TUG is I find the owners here wonderful people. I learn a lot about different places and do get great rental deals. The forum is engaging which is nice too.



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