World's worst renter

[OutSkiing]

I must be the world's worst renter .. have never had luck with renting out timeshare weeks.

I've very successfully rented physical property in the Midwestern town where I live for years but never have luck with timeshare weeks. Recently, we thought we stumbled on a good thing worth renting .. a 3 bedroom presidential at Bonnet Creek the week of January 28th popped up 2 months ago so we snagged it. But alas I just had to cancel my ads and cancel the reservation because we're coming up on the 15 day cancelation period without it rented. Perhaps a 3 BR presidential does not fetch any more interest than the 3 BR deluxe.

I know it's a little harder not being able to slash the price with cancel/rebook anymore but thought we might be able to still just beat break even. I started at about 24% over MF cost and then kept slashing price down to 10% over cost .. only had 2 nibbles and no actual renter.

Advertised on Tug2 and on Craigslist for Orlando area. Craigslist ad was comparable to the dozen or so others with slightly nicer pictures and better descriptions I thought. Mine was the only 3 BR presidential in the mix. The Tug2 ad was quite standard I thought.

Any suggestions for future tries would be very welcome either answering this thread or pm me. Not trying to make a living but thought a little offsetting income would help balance our points ownership level. Otherwise I might consider shedding about 210k points.

Bob

 

[am1]

What price were you asking? In past years I would rent that between $1099 - $1249. I would have 10-20 3 and 4 bedroom presidentials. Most likely not all would rent.

It is a slow time of year. I have no idea what the current market is now.

 

[Jan M.]

I must be the world's worst renter .. have never had luck with renting out timeshare weeks.

I've very successfully rented physical property in the Midwestern town where I live for years but never have luck with timeshare weeks. Recently, we thought we stumbled on a good thing worth renting .. a 3 bedroom presidential at Bonnet Creek the week of January 28th popped up 2 months ago so we snagged it. But alas I just had to cancel my ads and cancel the reservation because we're coming up on the 15 day cancelation period without it rented. Perhaps a 3 BR presidential does not fetch any more interest than the 3 BR deluxe.

I know it's a little harder not being able to slash the price with cancel/rebook anymore but thought we might be able to still just beat break even. I started at about 24% over MF cost and then kept slashing price down to 10% over cost .. only had 2 nibbles and no actual renter.

Advertised on Tug2 and on Craigslist for Orlando area. Craigslist ad was comparable to the dozen or so others with slightly nicer pictures and better descriptions I thought. Mine was the only 3 BR presidential in the mix. The Tug2 ad was quite standard I thought.

Any suggestions for future tries would be very welcome either answering this thread or pm me. Not trying to make a living but thought a little offsetting income would help balance our points ownership level. Otherwise I might consider shedding about 210k points.

Bob

You might have tried listing it on eBay too. You would have to increase the price by 10% to cover the eBay final value fee.

 

[CalGalTraveler]

I know nothing about Bonnet Creek rentals but logic tells me that a 3 bedroom during a non-school vacation week would not have great appeal. Most people traveling during such times are retirees and people without kids who don't need a 3 bdrm unit.

 

[Jan M.]

There are also a lot of people who home school, have kids who aren't in school yet or don't have a problem with their kids missing a week of school so the family can visit Disney World without the crowds they would encounter during any school break vacation. Tickets for a whole family to go to Disney isn't cheap so going when they can do the most at the Parks makes good sense for many families.

The larger presidential units are great for several retired couples to share and many want to get away from the colder temperatures in other parts of the Country.

 

[OutSkiing]

What price were you asking? In past years I would rent that between $1099 - $1249. I would have 10-20 3 and 4 bedroom presidentials. Most likely not all would rent.

I got down to $1600 for a unit that cost 289k points and no discounts. I would have reduced further but the 15 day mark crept up on me quickly.

Bob

 

[spackler]

Advertised on Tug2 and on Craigslist for Orlando area. Craigslist ad was comparable to the dozen or so others with slightly nicer pictures and better descriptions I thought. Mine was the only 3 BR presidential in the mix. The Tug2 ad was quite standard I thought.

Many prospective renters are leery of sending money to a stranger on Craigslist and 99% of the public doesn't know that TUG even exists.

Unfortunately, the higher-fee sites (like eBay and Redweek) will net you more inquiries/renters.

 

[Weimaraner]

I rented a Bonnet Creek renter on Ebay. Would have loved to have in a presidential unit. Prices were pretty competitive which was great for me. The advantage of Ebay is that I felt pretty confident with the rental since the seller had an excellent rating. As an owner, Redweek has worked great for me and coincidentally my last renter happens to live about 15 minutes from me.

 

[ronparise]

I got down to $1600 for a unit that cost 289k points and no discounts. I would have reduced further but the 15 day mark crept up on me quickly.

Bob

So you got down to $1600. See the post above from am1. He could rent these for just over $1000 and still, presumably, make a profit

I suspect your prospective renters have been spoiled by am1’s pricing. And are settling for 2 bedrooms or finding bargains elsewhere

 

[DeniseM]

I don't think regular owners can compete with the professional Wyndham owners on price. Also, I would add Redweek.com to your advertising sites.

 

[am1]

I don't think regular owners can compete with the professional Wyndham owners on price. Also, I would add Redweek.com to your advertising sites.

Price at least before but also repeat business and referrals. No doubt someone would have and probably many did pay the asking price for what was being rented at Bonnet Creek or a similar room elsewhere but they had no idea this room was for rent or were not confident in the renter. Listing rentals on ebay as an auction never works as there is not enough people wanting the same think and people want to lock in their rental and not have to wait for an auction to close.

Timeshare rentals is a very inefficient market. I had an idea to make it more efficient at least for some properties but never acted on it.

 

[ronparise]

T

I don't think regular owners can compete with the professional Wyndham owners on price. Also, I would add Redweek.com to your advertising sites.

what you say was the case before the new rules and website. Wyndham has done a pretty good job putting most of the pros out of business

 

[Sandi Bo]

I'm late to the game, but wanted to add a few comments.

I've had the same thoughts as OP (I could be world's worst #2). It's so frustrating when you have something really good and can't get it rented. You know someone is out there, but just don't done how to connect.

I remember when I very first started this, 5-6 years ago. I was on the Disney Board and someone posted their rental had fallen through. They were desperately, so they said, looking for a large rental unit. I was thrilled with excitement when I saw a 4BR Presidential at Bonnet Creek and offered it to them. I don't remember what for, but at that time I bet it was my cost (50% off, doubtful I understood upgrades yet). We were right at the 15 day mark (I didn't realize how the cancellations came back at that time) They weren't interested (didn't even respond) and I got flagged on the board for soliciting. Lesson one, lol, not to advertise on the Disney board (I was clueless).

Fast forward, just this Christmas, I had a 3 BR Presidential Reserve over New Year's Ever at Bonnet Creek. I picked it up a while back so it was full price. I knew it wouldn't come back if I cancelled as WYN held pretty much all of BC for Christmas week. I offered it to several people at my cost (because I'd rather give it to someone else (anyone else) than Wyndham). No takers. I cancelled it and it never came back. I don't think it gets much better than a presidential unit at BC over NYE - but (most) people don't want to pay full price for things.

Different resorts market differently Craigslist seems better in the Northeast, ebay in Florida. People want cheap, they don't care what your cost is, they don't care if it prime or value season. I have places I know well, and I (hope I) know how the market works for those particular resorts. At those resorts, I can do okay. If I rent other places, it's because a repeat customer or relative has specifically requested it. Otherwise I stick to what I know and do my best to follow closely what goes on there (marketing as well as issues with inventory, etc). And even so, will end up with a hot ticket (presidential over new year's) that I relinquish back to Wyndham cause I can't get it rented.

 

[chapjim]

<snip>

I have places I know well, and I (hope I) know how the market works for those particular resorts. At those resorts, I can do okay. If I rent other places, it's because a repeat customer or relative has specifically requested it. Otherwise I stick to what I know and do my best to follow closely what goes on there (marketing as well as issues with inventory, etc). And even so, will end up with a hot ticket (presidential over new year's) that I relinquish back to Wyndham cause I can't get it rented.

I operate pretty much the same. I have a relative handful of resorts that I keep coming back to -- different resorts at different times of year. Some (Emerald Grande and Panama City Beach come to mind) are so expensive during prime time that I don't even mess with them but I will and do off-season. I rarely make a reservation at a resort I've never seen.

I'm facing the same dilemma -- I have Bike Week reservations at Ocean Walk and Spring Break 4BR units at Bonnet Creek made a year ago. Can't sell them at full price, but if I cancel them, I'll never see them again. I already lost one Bike Week reservation playing around (detailed in an earlier post). Over a million and a half points tied up in those reservations.

Wyndham's changes were very effective at doing what they wanted to do. And, they are able to spin it as "enhancements."

 

[Roger830]

Perhaps the problem is the product, Wyndham.

When looking for rentals, I now avoid Wyndham. Who wants to pay top dollar, then risk having the reservation cancelled or be harassed by sales weasels.

A Wyndham January week in Pompano was ok at $629-699 on ebay, but no way would I pay $1099, then be treated like a schmuck at checkin.

 

[Sandi Bo]

True that! I just had someone who wanted Grand Desert and told him I was not comfortable renting there right now due to the lockout/overbooking issue. I avoid resorts once I hear there are issues.

 

[vacationhopeful]

I am sure Wyndham has more daggers up their pants' legs to effect Wyndham product owners large and small. I am not posting any 'could be future targets' ...

But I will be happy to point out to Wyndham... smaller families are the normal (studios and 1bdrs travellers), grandparents have no pensions or nestegg of cash to spend on the (grand)kiddies, Wyndham ain't DVC, waterfront property suffers SALT WATER damage & seasonal BIG storms, and your little resorts require TOO much onsite labor and staff (24hr desk for a 90 unit building ... 18 units of 2/2; 36 units of 1/2, 36 studios) for with stays of 1 night to 7 nights.

And your OLDER resort buildings are just that .. OLD. And require more maintence where wood is used as the outside finished siding. And do some tree trimming and removal ... wait til a GOOD STORM takes out buildings, cars and injuries a few guests.

 

[cayman01]

I must be the world's worst renter .. have never had luck with renting out timeshare weeks.

I've very successfully rented physical property in the Midwestern town where I live for years but never have luck with timeshare weeks. Recently, we thought we stumbled on a good thing worth renting .. a 3 bedroom presidential at Bonnet Creek the week of January 28th popped up 2 months ago so we snagged it. But alas I just had to cancel my ads and cancel the reservation because we're coming up on the 15 day cancelation period without it rented. Perhaps a 3 BR presidential does not fetch any more interest than the 3 BR deluxe.

I know it's a little harder not being able to slash the price with cancel/rebook anymore but thought we might be able to still just beat break even. I started at about 24% over MF cost and then kept slashing price down to 10% over cost .. only had 2 nibbles and no actual renter.

Advertised on Tug2 and on Craigslist for Orlando area. Craigslist ad was comparable to the dozen or so others with slightly nicer pictures and better descriptions I thought. Mine was the only 3 BR presidential in the mix. The Tug2 ad was quite standard I thought.

Any suggestions for future tries would be very welcome either answering this thread or pm me. Not trying to make a living but thought a little offsetting income would help balance our points ownership level. Otherwise I might consider shedding about 210k points.

Bob

No, I am th worst as I have two Mardi Gras reservations I failed to rent. I guess there’s a learning curve to it. I have no problem renting to friends and relatives who see the value in what they get. But the Marketplace and Craigslist have been a mystery to me.

I will try again but I think eBay May be the way to go for me. Reach more people. I also wonder if we had a rental board in this same format ( like the last minute board) if we would have more luck with rentals. Just seems so much easier to go they that the Marketplace.

 

[DeniseM]

Just a note on terminology:

As the owner, you are the rentor, and the person who is renting from you is the renter, or rentee.

 

[OutSkiing]

Just a note on terminology:

As the owner, you are the rentor, and the person who is renting from you is the renter, or rentee.

Rentor is not officialy in the dictionary but there is a note on it’s origin here:
https://forum.wordreference.com/threads/renter-rentor.1325769/

It seems lessor / lessee are both in the dictionary.

Rentor and lessor do seem more powerful like director or aviator .. maybe thats my problem .. I haven’t properly identified myself as head honcho.

Then again janitor ends in ‘tor’ so that’s probably a more appropriate comparison.

Bob

 

[chapjim]

Rentor is not officialy in the dictionary but there is a note on it’s origin here:
https://forum.wordreference.com/threads/renter-rentor.1325769/

It seems lessor / lessee are both in the dictionary.

Rentor and lessor do seem more powerful like director or aviator .. maybe thats my problem .. I haven’t properly identified myself as head honcho.

Then again janitor ends in ‘tor’ so that’s probably a more appropriate comparison.

Bob

Does that mean there is a janitee?

 

[Wolf&Sprite]

Does that mean there is a janitee?

Yes, that's the person or thing that gets janited.

 

[chapjim]

Yes, that's the person or thing that gets janited.

Ew! Sounds awful!

 

[rickandcindy23]

I have just recently rented some weeks that are float weeks I reserved a year out, and it was tough to get those rented. I also own oceanfront Maui, not fancy at all, and we own 3 weeks but only use two. Renting it for just maintenance fees and taxes has been ridiculously difficult, even when I book whale season.

I find it ironic that people who live in ordinary houses, not fancy (just ordinary like my own house) will only stay in Westin or Marriott accommodations when vacationing, no matter what the cost or view. I don't need fancy, I just want clean and comfortable and oceanfront, when I can get it.

 

[OutSkiing]

Perhaps the problem is the product, Wyndham.

When looking for rentals, I now avoid Wyndham. Who wants to pay top dollar, then risk having the reservation cancelled or be harassed by sales weasels.

A Wyndham January week in Pompano was ok at $629-699 on ebay, but no way would I pay $1099, then be treated like a schmuck at checkin.

Yes .. prior to the 'upgrade' and new rules, there was a 'circle of life' symbiotic relationship between 1) VIP owners, 2) rentors, 3) renters and 4) Wyndham sales. This was because VIP owners could get more value for their points than non-VIP owners, rentors could make a buck, renters could get something affordable and Wyndham Sales would get a fresh supply of wide-eyed prospects to visit their sales office. Now I know as a fact that groups 1 and 2 are not getting their value and are extremely upset, I'm pretty sure group 3 gets less satisfaction and I'll just bet group 4 is thwarted,frustrated and less successful as well. I truly hope this does not spell the "beginning of the end" of Wyndham as a growing / thriving vacation ownership company. It seems they are throwing away the 'secret sauce' that made this formula work so well in the past.

Bob