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Las Vegas Timeshare

Discussion in 'US - Western States Timesharing' started by WVBaker, Apr 17, 2019.

  1. WVBaker

    WVBaker TUG Member

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    Once again I'm in need of all the opinions I can get as I know nothing at all about Las Vegas timeshares. :shrug:

    When not using it, the unit would be placed on the market as a rental.

    The resort is located about 6 miles outside of the "strip". It's a 1 bedroom, 1 bath. Unit features a separate living room, dining room and fully appointed kitchen, patio or balcony, heated pool, hot tub, barbecue grills, spa services, fitness center and business center.

    It's fixed week and the week is #52. Maintenance fees are $720.00 a year.

    I can only assume that Vegas, being what it is, is packed that time year so I'm hoping that renting it, even just to cover maintenance fees, would not be a problem.

    Any thoughts would appreciated and thanks! :thumbup:
     
  2. Luanne

    Luanne TUG Review Crew: Veteran TUG Member

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    Personally, if I was going to rent something to be in Las Vegas I would not rent 6 miles off the strip, especially if I were going to be there without a car.
     
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  3. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Las Vegas is loaded, even overbuilt, with timeshares. Renting out a timeshare there will not be easy. That week, with (arguably) the coldest weather of the year, people are going to want to be right on the Strip, or as close to it as possible. A one bedroom, one bath unit six miles away is not going to be in high demand, even at the best time of year. Rentals are everywhere for less than that. Checking RCI just now, I see a number of Extra Vacations available for less than $700.

    My advice would be to pass on this. Buy a timeshare you might want to use yourself, and then try renting it, or deposit it to an exchange company, only if you won't be using it that year.

    Dave
     
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  4. SteelerGal

    SteelerGal TUG Member

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    I would definitely buy on the Strip. We are staying off the Strip at a Family Resort. If it was our adult only trip, we would be on the Strip.
     
  5. geist1223

    geist1223 Guest

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    I agree with Dave. Six miles off the strip is too far. Las Vegas like Orlando is over built. Pass.
     
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  6. PigsDad

    PigsDad TUG Member

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    Also, I wouldn't assume that vacationers who want to go to Vegas for the NYE festivities would want to stay for a full week. Vegas is usually a 2-4 day vacation, not a week.

    Kurt
     
  7. WVBaker

    WVBaker TUG Member

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    Thanks everyone that helps. :thumbup:

    I figured the only this would work is if the other hotels close to the strip would sell out. That would leave the rest on the outskirts as the only available and most of them are down to just a few rooms left. You would have to hope to take this to the general public with a minimum of a 4 night stay that would cover the maintenance fee.
     
  8. Luanne

    Luanne TUG Review Crew: Veteran TUG Member

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    Good luck with that. There would have to be a VERY high demand for that week. As I recall there a LOT of properties on the strip, or within closer distance than 6 miles away.
     
  9. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Yeah, no, Dean. It's a fool's errand. Spend your money on something better. Las Vegas has more than 150,000 hotel rooms. https://www.worldatlas.com/articles/how-many-hotel-rooms-are-there-in-las-vegas.html

    Add to that all the timeshares (there are plenty of them), VRBO and AirBNB rentals of privately-owned condos, and whatever else, and you're facing enormous competition. Six miles off the Strip is a long, long ways in Las Vegas.

    Consider, also, if you bought that timeshare, and it turned out to not be all you want from it, you'll have a heck of a time unloading it, for all the same reasons it won't make a good rental.

    Dave
     
  10. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    Even on New Year's week, there will be enough rooms on the strip to satisfy supply. I would buy a timeshare at Las Vegas to stay or to trade but not to rent. It is going to be hard to cover your maintenance fees.
     
  11. PigsDad

    PigsDad TUG Member

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    Also consider this: on average, every 5.5 years there is a "week 53", so your week wouldn't even include NYE on those years. Plus, there are going to be years where NYE lands on the check-in or check-out date -- who would want to rent your week on those years? So in reality, your week 52 would only really be prime for NYE renters maybe 60-70% of the time, if that. And of course, since it is six miles from the strip, it will never really be a "prime" rental. I would definitely pass, unless it is a week that you want to use for yourself.

    Kurt
     
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  12. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Excellent points! :clap:

    Dave
     
  13. Sam333Jbh

    Sam333Jbh Guest

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  14. Sam333Jbh

    Sam333Jbh Guest

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    I am new to the group.
    Things have changed in Las Vegas. I bought at "The Cliffs at Peace Canyon" at Las Vegas, Resort ID: 6389, Week 39, Fixed in year 2002 consisting of 1 BR, 1 Bath, can sleep 2 adults and 2 chlidren. At that time there were hardly any property or shopping center. We lived in San Francisco Bay Area then. We shared vacation with friends as we had no children. We liked it and pan in cash. We get 2 weeks extra vacation with RCI membership.
    Just to give you an idea, 2013 maintenance fees was $639 whereas 2019 it is $798. I started with $350 maintenance fee in 2002. However, we enjoyed the Cliifs at peace. I like the free bus all the 7 days, they transport you to Bellagio (30 minutes ride) and staff are friendly.
    Now I am retired and moved to Las Vegas 2 years back. I do not travel for health reasons, however, rent for $120/ day (usually 5 to 7 nights for the past 4 years), however, the commission/ rental fees being charged is 38% (astronomically high at this technologically improved environment). Being managed by Daily Management resort.
    Rental hurts because of high maintenance of $798 vs net rental $548. However, at this time my option is limited.
    I like the resort but have no young children.

    Most of the families, I talked during my stay in week of November 14, 2018, had very good opinion. It can be easily rented for $150.00 per night (No resort fee like 20% on strip). Many activities for children like DVD, Books etc.
    My rating is 8.5 out of 10 (10 being excellent)
     
  15. WVBaker

    WVBaker TUG Member

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    The Cliffs at Peace Canyon is a prime example of a resort away from "the strip".

    Living in Las Vegas year round, what's your thoughts on New Years celebration and the availability, or lack of, rooms? It seems most would only turn to a resort that distance away from downtown because of that. Most everyone's first choice is to be in the middle of the action. There are those that do however, choose to have a place they can retreat to on the outskirts, so to speak.

    If your estimate of $150.00 per night is after any commission, that can be increased by simply handling the rental process yourself. Much like Orlando during Christmas and New Years, once supply dwindles, the private market prices begin to rise. It's basic supply and demand. Tourist, at least those that wait will instead of not going, simply pay more for their rooms.
     

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