I’ll bet I had the highest MVCI maintenance fees for 2019..any takers?

[Dean]

I added up what I paid on Friday to MVCI and it’s astounding.

I own 1500 DC points and 10 weeks...

My maintenance fees were $17,186.33

With our recent 2 added weeks, we have a total of 17 weeks with two being EOY, plus 1000 Trust points. I would have been #11 since I didn't vote in Steven's poll.

 

[rickandcindy23]

I have all of you beat. I am not sayin' the exact amount, but we do have a vacation rental business with our daughter, so if that gives you any clues...

We own 10 million Wyndham points. We also own a lot of Vistana. I know BocaBum has/ had a thriving business and probably outdoes us by a lot.

Used to be you could rent as many additional points as you wanted, directly through Wyndham. Our daughter was doing that each year. I think one year she rented 20 million points at $5 per thousand. You can do the math on that.

But Wyndham changed the rules quite a while back and took that one off of the table.

 

[dansimms]

Here is another question. Who is Chairman and pays the least in maintenance fees? I got Grandfathered, so I am holding pat at the equivalent of 13,300 DPs, mostly legacy and with Interval Membership paid about $6500 this month. If and when Chairman moves up above 15,000, I have my fingers crossed that I will stay at Chairman and continue to enjoy those benefits without having to buy more.

 

[Sugarcubesea]

I own 4 weeks, two are flex weeks and two are fixed weeks and my total for 2019 in MF is $2,420

 

[Old Hickory]

This thread has "backdoor brag" written all over it.

 

[bizaro86]

My MF bill is well below the 5 figure numbers being bandied around here, and I think I have gotten 100% of the vacations I wanted, and I haven't had to rent anything for ~3 years, plus we are fully booked until mid-2020...

Imnsho, spending less on MF is better than spending more...

 

[jme]

My MF bill is well below the 5 figure numbers being bandied around here, and I think I have gotten 100% of the vacations I wanted, and I haven't had to rent anything for ~3 years, plus we are fully booked until mid-2020...

Imnsho, spending less on MF is better than spending more...

There are two schools of thought on this.

Yes and No.

and you've elucidated on the Yes.

If, however, you own a few weeks and decide one year you cannot (or wish to not) use them all,
and if each one rents for 2-2.5x the maintenance fee, then renting half of them pays all maintenance fees,
with some cash left over, AND allowing half of the weeks to be occupied for FREE.
Not a bad concept, imnsho.

And furthermore, I've heard tell of the occasional situation whereby a daughter gets married,
and the shrewd owner elects to rent them all.



.

 

[CalGalTraveler]

+1 The perspective is very different if you are renting out your timeshares to use the proceeds to cover your TS MF or as a small business. Lowest cost gives way to revenue to MF margin.

Which TS units offer the best revenue to MF margin in the Marriott and other hotel branded systems if one wanted to pursue a "rent to cover your MF on another unit" strategy? I am assuming it would be 2 bdrm or 3 bdrm lock-offs but where do you get the biggest bang for your buck?

 

[bizaro86]

There are two schools of thought on this.

Yes and No.

and you've elucidated on the Yes.

If, however, you own a few weeks and decide one year you cannot (or wish to not) use them all, and if each one rents for 2-2.5x the maintenance fee,
then renting half of them pays all maintenance fees, with some cash left over, AND allowing half of the weeks to be occupied for FREE.
Not a bad concept, imnsho.

And furthermore, I've heard tell of the occasional situation whereby a daughter gets married,
and the shrewd owner elects to rent them all.

.

That is definitely a valid school of thought as well. I tend to rent a few things I can't use, although nothing I own goes for 2.5x MF. That would definitely improve my thoughts on the matter. I'd probably have to spend more upfront for that though...

If you're covering all your MF (or more) then arguably your net MF cost is zero, which is obviously a pretty sweet place to be.

 

[MOXJO7282]

+1 The perspective is very different if you are renting out your timeshares to use the proceeds to cover your TS MF or as a small business. Lowest cost gives way to revenue to MF margin.

Which TS units offer the best revenue to MF margin in the Marriott and other hotel branded systems if one wanted to pursue a "rent to cover your MF on another unit" strategy? I am assuming it would be 2 bdrm or 3 bdrm lock-offs but where do you get the biggest bang for your buck?

From my experience without going into too much detail 2BDRM Maui OF in the new towers are number#1, followed by the same in the old towers in Maui, then its Myrtle Beach platinum OF that offer excellent rental value. I'd also group GO plat OFs on HHI and Aruba plat OF at that level.

Then there are also many others like Newport Coast and GO OF gold that rent for very good value but not quite like the top tier. Then there are many that rent for $300-$500 above MFs. I know a number of HHI gold weeks fall into this category.

Lastly, I haven't seen anyone on TUG claim that they rent winter weeks that I can recall but my hunch is several prime ski resorts during prime time rent like tier one as I describe above.

All in all there are many Marriotts that can be rented above MFs and some much more than others.

 

[jme]

From my experience without going into too much detail 2BDRM Maui OF in the new towers are number#1, followed by the same in the old towers in Maui, then its Myrtle Beach platinum OF that offer excellent rental value. I'd also group GO plat OFs on HHI and Aruba plat OF at that level.

Then there are also many others like Newport Coast and GO OF gold that rent for very good value but not quite like the top tier. Then there are many that rent for $300-$500 above MFs. I know a number of HHI gold weeks fall into this category.

Lastly, I haven't seen anyone on TUG claim that they rent winter weeks that I can recall but my hunch is several prime ski resorts during prime time rent like tier one as I describe above.
All in all there are many Marriotts that can be rented above MFs and some much more than others.

Great insight on those, Joe, and of course you nailed them all. I'd say Hawaii resorts (especially Maui Ocean Club) and Park City Ski weeks are tops (Mountainside especially). I know those ski weeks garner astronomical rental fees. I'd venture to say the ski weeks might even win out more consistently, but I'd have to check the numbers, and frankly I have no idea how to properly research it quickly other than to check Redweek prices asked, and then extrapolate what I thought happened in real life. After all, the ski weeks were popular enough to cause Marriott to sell them as Platinum Plus weeks at $50,000 per week. I have a good friend who bought one and I thought him insane.

You can bet those are rented as much as they are occupied, perhaps more(?). A ski week in Utah to many families is the ultimate vacation, and they are highly prized and tough to get, as Utah reputedly has the finest powder in the world, and having stayed there 6 years in a row for skiing with my family when our kids were teens, I'd vouch for that. We never visited during those Platinum Plus weeks, but we did stay during ski season, and it was Nirvana. Aruba weeks during winter & especially New Years also are top rental cash producers. Our Grande Ocean weeks are positive cash flow rentals, but NOTHING like Park City, Hawaii, and Aruba.
In the words of that great and renowned Holiday philosopher, "Good grief".

 

[vol_90]

From my experience without going into too much detail 2BDRM Maui OF in the new towers are number#1, followed by the same in the old towers in Maui, then its Myrtle Beach platinum OF that offer excellent rental value. I'd also group GO plat OFs on HHI and Aruba plat OF at that level.

Then there are also many others like Newport Coast and GO OF gold that rent for very good value but not quite like the top tier. Then there are many that rent for $300-$500 above MFs. I know a number of HHI gold weeks fall into this category.

Lastly, I haven't seen anyone on TUG claim that they rent winter weeks that I can recall but my hunch is several prime ski resorts during prime time rent like tier one as I describe above.

All in all there are many Marriotts that can be rented above MFs and some much more than others.

Which sites are best for advertising a week for rent? I have used Redweek with some success.

 

[TXTortoise]

For a relatively painless experience VacationCandy.com works well and presents a more commercial/trusting experience to some renters. Customer Service is also outstanding. Their listings tend to price a bit higher than Redweek, so that covers some of the commission and you get paid 50% up front and balance at 60(?) days out. Doing it as the agent will maximize your return, as the $500 minimum commission on a low value VC listing can be significant.

 

[TravelTime]

Which timeshares are the worst rentals to own?

 

[SunandFun83]

A much better question is what multiple of value do you derive from your annual maintenance fees? We get typically 5x value for our $9000 annual maintenance fees... We can deal with that...

Hi SEADOC.... Nice to see you around. I think double value is enough, and easier to accomplish.

I never rent retail anyway because my daughter works for Marriott.

 

[billymach4]

Which timeshares are the worst rentals to own?

Too many to mention. Take your pick. Orlando, Poconos, las Vegas, Atlantic City.

 

[Dean]

Too many to mention. Take your pick. Orlando, Poconos, las Vegas, Atlantic City.

The ones most overbuilt with timeshares that are otherwise popular destinations include Orlando, Williamsburg, Branson and LV. And this correlates to a degree to exchange power realizing that Marriott to Marriott exchanging is a special situation.

 

[pec@ssp]

I pay the lowest. Sold my HGVC and gave my Wyndham points back in exchange for 3 years usage. Will rent from you guys if needed in the future. This all happened because I moved to Myrtle Beach.

 

[bcancelliere]

We are at Sky Valley GA mountains in a free standing mountain 2br, 2ba cabin for 4 weeks in the month of August. We Timeshare owners as a group, hire all the management and maintenance personnel. As a result, our maintenance fees run just under $500 per week.

 

[Fredflintstone]

Wow. I just can’t fathom 45 k or more in maintenance fees. But, I guess it’s all relative. If you are making high 6 figures or low 7 figures, it’s mere pocket change. A juicy trust fund would also make this pocket change too I suppose.

It’s nice to associate with the upper crust on TUG .


Sent from my iPad using Tapatalk

 

[RLS50]

Wow. I just can’t fathom 45 k or more in maintenance fees. But, I guess it’s all relative. If you are making high 6 figures or low 7 figures, it’s mere pocket change. A juicy trust fund would also make this pocket change too I suppose.

It’s nice to associate with the upper crust on TUG .


Sent from my iPad using Tapatalk

Actually that is what might be most impressive about what Joe has done. He isn't some blue blood from the Hamptons. He just took the right risks at the right time and focused on not only a high quality brand (Marriott) but owning the best of the best inside the Marriott system. Over the years he has built up a very impressive portfolio.

 

[suzannesimon]

I have 10 timeshares (5 Marriotts, 4 Vistana and 1 Hyatt). Maintenance on them is over $23,000 but I rent what I don’t use to cover it. If I rented all of them, I could clear $20,000 plus. I own 2 vacation homes and neither of them ever cleared a profit and they were money-losers if I had a mortgage. At least with timeshares, you don’t have to support them in the off-season. I’ve found the 3 bedrooms and the Christmas weeks give me the best bang for the buck. I get triple the maintenance at Westin Lagunamar, $3000 over maintenance at MFC for a 3-bedroom Christmas week, $2000 over maintenance at Aruba Surf Gold 3 bedroom and Harborside at Atlantis 3 bedroom Gold. Harborside are the scariest ones because the maintenance is $3500 each and I stress every year that they won’t rent. I don’t trade anymore because I rent what I want from other owners. Cash works better than Points or Interval.

 

[MOXJO7282]

Actually that is what might be most impressive about what Joe has done. He isn't some blue blood from the Hamptons. He just took the right risks at the right time and focused on not only a high quality brand (Marriott) but owning the best of the best inside the Marriott system. Over the years he has built up a very impressive portfolio.

I don't want this to be about me but I will add some insight because I do think it is a pretty good story for someone who really did come from modest means.

I do think when people see my portfolio they do assume I am rich kid from the Hamptons that had major resources but there is only one thing true about that, I am from the Hamptons, but not blue blood but from a military family of 9. My father was a great man who had a physical deformity but still managed to serve his country for 30 years (he had polio as a child and had one leg that was small and short and hid it to enlist) and raise 7 kids. My favorite vacation story as a kid was one drive from NY to Disney when we all had to sleep in the station wagon one night because we ran out of money. This is what made me so obsessed with giving my family great vacations because I never had them as a kid.

I started with one MOC 2BDRM OV in 2002 using a 0% credit card and just kept moving it around from one 0% card to another using the bank's money to pay for it. Back then they didn't even charge a balance transfer fee so it was literally free money. I didn't have a thought about renting TSs back then but was just obsessed with Maui. It was really a foolish thing to do because we just had our first kid and a mortgage so paying for it was tight.

I decided to rent it for 2003 and that is when the light bulb went off in my head when I ended up renting my unit for over $3k profit (MFs were $999 and I was able to rent on ebay for over $4k) I played the 0% to perfection and started acquiring one MOC after another the same way. Then I traded into the GO on HHI and we fell in love with the prime Marriotts on HHI and expanded into the area.

It was really quite easy because I did stick with high demand areas and resorts that i knew would rent very successfully. At no point could I have maintained my portfolio if my units didn't rent for profit to allow us to pay MFs and take a few nice vacations every year. Now it has truly mushroomed into a major revenue stream that literally put my daughter through college and now doing the same for my son.

An amazing experience that I took a risk on and built week by week without money in my pocket using the bank's money to fund my plan. Now the project is self-sustaining and getting into the Marriott TS program really was the best decision I made for my family bar none, not only for the profit but for the amazing quality family time that we've been able to experience. We've been to Maui 7 times and many other great trips around the world, NONE of which would've been possible if i didn't take the risk with Marriott TSs.

 

[DWellser]

I added up what I paid on Friday to MVCI and it’s astounding.

I own 1500 DC points and 10 weeks...

My maintenance fees were $17,186.33

I have 10 MVC units, 492k Vistana Village StarOptions, 1 Paradise Village, and 1 Vail Run timeshare unit. My total maintenance (incl taxes) is $26,340. But, for retirement purposes, that is cheaper than owning a 'winter' home in Palm Desert or Scottsdale and paying mortgage interest, untilities, prop taxes, maintenance, furniture, security, cable, etc. The comparison of a house to a timeshare: I would pay $26k for non-equity expenses annually, and would not have all the benefits of a resort, getting to chose my winter vacation spot, having facility updates every 5 and 10 years, and getting to take advantage of any new resort locations.

 

[DeeCee]

I didn’t include my Disney Vacation Club maintenance fees ($5200, but I always rent them out for 3X myfees) or my incredibly reasonable Grandview ($845)
I also rent out my Marriott weeks but my DVC points are so much easier to rent that there’s no comparison.

We also own Marriott and DVC. I’ve only rented DVC twice and recently. Never the Marriott. I’m curious as to how you rent, we used that guy in Canada. However, I’d like to be able to rent myself, confidently. Do you have a rental agreement that you use? If so, may I ask that you share it with me or provide some specific pointers as to how best to rent out without using a third party? Any info would be greatly appreciated.

Dee