Renting Your Week

[heisenberg815]

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

Yes, I have used homeaway/vrbo with good success. The fees are kind of steep but they make it really convenient so I have used them for the last few years to rent one or two of my weeks.

 

[CalGalTraveler]

Thanks @heisenberg815. Congrats on your success. Have you been able to charge a higher price to offset the VRBO/AirBnB fees?

 

[brp]

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

W 57th has been known to get something like 40 cents/point (and no reservation fee- just the $52 GC). At least so I've heard

Cheers.

 

[Cyberc]

W 57th has been known to get something like 40 cents/point (and no reservation fee- just the $52 GC). At least so I've heard

Cheers.

I guess it depends on if you pay the higher club dues or not. The higher club dues gives you free reservations the “normal” does not.

 

[brp]

I guess it depends on if you pay the higher club dues or not. The higher club dues gives you free reservations the “normal” does not.

True. Well worth every (additional) penny to me to be able to make, change, cancel as many reservations as I want for no additional (beyond the higher club dues ) fee.

Cheers.

 

[heisenberg815]

Thanks @heisenberg815. Congrats on your success. Have you been able to charge a higher price to offset the VRBO/AirBnB fees?

I previously haven't been successful in getting coverage for the VRBO fees but I am still working on fine tuning everything (listing wording, listing price, timing on starting to advertise, etc.) to get the best price. Just this weekend I rented one of my 3br units for closer to $0.25 per point so maybe I am getting closer to getting the fees covered.