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Multiple Questions About Renting and Selling My Timeshare [Vacation Village Parkway]

Discussion in 'Buying, Selling & Renting Timeshares' started by dschroed, Feb 9, 2019.

  1. dschroed

    dschroed TUG Member

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    I own week 13 of a 2-bedroom lockout at Vacation Village at Parkway. I have never been to the resort, and have had problems utilizing the RCI points each year. I got tired of paying RCI annually (plus fees to exchange, when I was able to travel), so I cancelled my RCI membership and converted the timeshare to just my ownership (on the hope that I could at least make the maintenance and advertising fees by renting my week). This is my first year trying to rent the unit, but unfortunately, haven't had any success yet. (I didn't know before that I would still have to reserve my fixed week unit, but I guess you learn things the hard way!)

    While trying to post on VRBO/HomeAway, I discovered that they would collect the 7.5% state tax and the 6% Osceola county tourist rental tax, but I would need to submit the Osceola county tax myself. After researching online, it appears that I should provide Osceola a monthly statement for every month of the year (with a $5 fee for processing), even the other 11 months of the year that I don't have a rental unit. I would probably have still gone forward to do that, but VRBO/HomeAway was unable to post my ad without collecting the mandatory $25 resort fee and the refundable $100 security deposit upfront (both fees that VV would collect upon checkin).

    While trying to post on AirBnB (who would not require the renter to submit the resort fee and security deposit upfront), I discovered that they didn't even collect the Osceola county tourist rental tax, only the Florida state tax. I would have to collect and submit the county tax myself. Then, I was told that one unit for one week in the year, would not be accepted. So they aren't even an option for me.

    I've searched a lot of the posts on this forum, but have not seen anything about the tourist rental tax. And, I haven't seen anyone have the issues I've had with AirBnB or VRBO/HomeAway. Am I missing something? (I do have an ad on Redweek, and will post in last-minute rentals on Tug next week.)

    If I go forward with selling this timeshare, since I no longer have RCI in the mix, is there anything special I would need to do?

    Any and all advice would be greatly appreciated!
     
  2. DeniseM

    DeniseM Moderator

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    Those websites are geared for full ownership vacation properties - not individual weeks.

    For timeshare rentals, I use:

    -The TUG Marketplace
    -Redweek.com
    -Craig's List

    Unfortunately, Florida is overbuilt with timeshares so you timeshare doesn't have high rental potential or high sales potential.

    If you are able to reserve a high demand week (New Year's week and Easter week are good) you may be able to rent it for enough to cover your maintenance fee.

    You probably can't sell it, (more supply than demand in Florida) but you may be able to give it away: https://www.tugbbs.com/forums/index.php?threads/how-can-i-give-away-my-timeshare-on-tug.132509/
     
  3. dschroed

    dschroed TUG Member

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    Thanks for the quick response, Denise! I'm not quite sure what you mean by the above, since I own week 13 (which is often around spring break/Easter). Are you suggesting I try to exchange my week for a later one, since Easter is 2 weeks after this year? (I've never asked VV if they can exchange the date.)

    Any insight on the tax issue?

    Thanks!
     
  4. DeniseM

    DeniseM Moderator

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    No - I didn't notice that you own a fixed week - you will have to rent that week, but it's really late to get started on that for this year.

    Yes - Florida has no idea that you are renting your timeshare - unless you tell them.
     
  5. dschroed

    dschroed TUG Member

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    Got it. I'm not telling Florida! Thank, Denise.

    Do you see an issue with selling/giving away the timeshare when it doesn't include RCI points? Or, do you know if the new owner will be forced to move it to RCI (as I was when I purchased it)? Or, how do I find out?

    Thanks so much!
     
  6. DeniseM

    DeniseM Moderator

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    If you have already left RCI, it's a moot point, because it would be very expensive to rejoin - so just advertise it as a deeded week. The new owner can do whatever they want with it.
     
  7. dschroed

    dschroed TUG Member

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    Great! Thank you so much for the information!!!
     
  8. silentg

    silentg TUG Review Crew: Expert TUG Member

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    Location:
    Central Florida
    Resorts Owned:
    Orange Lake, Calini Beach Club, Fitzpatrick's Castle Holiday Homes, The Pines At Aspen East, Oyster Bay
    VV has internal rentals with affiliated resorts you should check into that if you want to stay somewhere else. If you put it up for a last minute rental you can ask$700.00.
    Good Luck!
    Silentg
     
  9. dschroed

    dschroed TUG Member

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    Thanks for your response, Silentg. I plan to put it up for last minute rental in 5 days. I left RCI because I just can't travel much anymore, so exchanging might not be an option (however, Las Vegas might be a better rental, if they let me exchange and send a guest).

    Thanks!
     
  10. DeniseM

    DeniseM Moderator

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    Unfortunately, Las Vegas is not a very good rental because LV is overbuilt with timeshares (more than 50) and you are competing with all of the very inexpensive and free hotel rooms in LV.
     
  11. dschroed

    dschroed TUG Member

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    Thank you both for your help. Tomorrow I get to put the 2 bedrooms up for LMR on this site!
     

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