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[ 2007 ] SVO Rental Thread

DavidnRobin

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I send the renter a signed rental agreement - so they are clear on the T&Cs. I do not require they sign, but can if they want.
 

DavidnRobin

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bumpity bump bump...

Inform:
I generally use PayPal for rentals - one big advantage is that the renter can use a credit card to pay. But... recently I was renting our 2012 WKV villas to the same person I have rented to for the last 2 years (also using credit card PayPal). However, this time when they went to use their credit card and were denied (nothing has changed on their part). I called PayPal to inquire why and a supervisor told me that it was out of their hands and it was credit card processing security software program that denied usage. The renter called their credit card provider (AMEX) and they were told that there was no problem with using their card from their side. So... PayPal says it is beyond their control, and AMEX states there is no issue with their credit card. Leaving us with no way to accept a credit card payment. Of course - we can use an alternate method (eCheck via PayPal, or personal check) which is fine with me, but may be of concern for the renter.

Just a heads-up. btw - Costco offers credit card payment services and if you are an Executive member - fees are waived. Of course, for whatever reason, this credit card payment still could have been denied, but it does offer an alternative to using PayPal for credit card payments.
 

DavidnRobin

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update for those who care...

It turns out that the computer security software was preventing the user from paying by credit card via PayPal while on the road. They got home and the PayPal payment went through without a hitch.

I have now rented our 2 WKV weeks (1Bd Plat/Prem) for 6 years straight and have recouped approx 1/2 of our resale purchase price (and probably could have rented for slightly more with increased effort). This is why WKV Plat has value in my not so expert opinion... ;)
 

tomandrobin

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I have now rented our 2 WKV weeks (1Bd Plat/Prem) for 6 years straight and have recouped approx 1/2 of our resale purchase price (and probably could have rented for slightly more with increased effort). This is why WKV Plat has value in my not so expert opinion... ;)

Congrats!

And agree.
 

Ken555

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I have now rented our 2 WKV weeks (1Bd Plat/Prem) for 6 years straight and have recouped approx 1/2 of our resale purchase price (and probably could have rented for slightly more with increased effort). This is why WKV Plat has value in my not so expert opinion... ;)

Excellent! It's also a relatively cheap way of visiting the other resorts... I just made a reservation today for later this year using the rest of my 2011 SOs from WKV. :)
 

DavidnRobin

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I forgot (and before I get corrected...) - we did use 1 WKV week to get a 1Bd at WKORV. I use the proceeds at WKV to offset our large MFs at our other SVO resorts - makes it sting a little bit less.

I have rented WKV to the same people for 3 years straight.
 

DavidnRobin

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I have been renting 1Bd Prem (large) for $1650/week during Spring Training.
 

vacationtime1

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I have been renting 1Bd Prem (large) for $1650/week during Spring Training.

You're renting cheaply, David. I have rented mine for $1,800 or more each of the past five years. The small side goes for about $1,300.

Some of the rental sites advertise rentals for $1,000/week more than I charge; I have no idea how many weeks they actually rent at those prices.
 

DavidnRobin

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You're renting cheaply, David. I have rented mine for $1,800 or more each of the past five years. The small side goes for about $1,300.

Some of the rental sites advertise rentals for $1,000/week more than I charge; I have no idea how many weeks they actually rent at those prices.

Robert - I do tend to rent low as to make it quick and easy. What site are you using to rent? And what lead time are you getting the rental? I have listed higher on RedWeek, but get no hits until I have dropped it. I was renting one of the villas to same person for 3 years - so I cut them a cost break. Last March - I was getting very few inquiries and was getting nervous as the 60-day cut-off was approaching.
 
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vacationtime1

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Robert - I do tend to rent low as to make it quick and easy. What site are you using to rent? And what lead time are you getting the rental? I have listed higher on RedWeek, but get no hits until I have dropped it. I was renting one of the villas to same person for 3 years - so I cut them a cost break. Last March - I was getting very few inquiries and was getting nervous as the 60-day cut-off was approaching.

RedWeek and MyResortNetwork -- no surprises.

I have been lucky to have repeat renters also. One of my March 2014 units is already rented.

I have no ability to command above market rents which is why I attributed the price differential to you renting below market.

I once had an problem with the small side unit not renting and the 60 day deadline approaching. I cancelled 62 days in advance and used the StarOptions to go to WKORV later that year (off-season). A nice thing about renting March weeks at Kierland is that should you need to bail, you have the rest of the year to use the StarOptions.
 

DavidnRobin

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I have no ability to command above market rents which is why I attributed the price differential to you renting below market.

But I have (in the past) put them up for $1850, and had to drop. Also to compete with other renters on rental outlets (like RW). Maybe your ads are just better than mine?

I generally reserve for 2nd week in March (or so) - is there a better time?
 

vacationtime1

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But I have (in the past) put them up for $1850, and had to drop. Also to compete with other renters on rental outlets (like RW). Maybe your ads are just better than mine?

I generally reserve for 2nd week in March (or so) - is there a better time?

I think you are doing everything right (most of us would be surprised if you weren't). That you started at $1,850 and had to drop your price in the face of competition suggests too many of that particular week were for rent at that particular time. In other words, poor luck.

The only time I rented anything other than a March week at Kierland was when I reserved Super Bowl weekend a year in advance; I believe it was 2008 when they played in Phoenix. Because people don't reserve Super Bowl accommodations until their team is in the Super Bowl, no one rents more than two weeks in advance. Although I ended up renting the two units for a total of $3,200, it was a nightmare of last minute eBay auctions and the like. I will never do that again.
 

Mauiwmn

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I had the exact same experience with Superbowl weeks in 2008. I will never rent that week as well. Few people plan a Superbowl trip until the teams are decided. Way too stressful.
 
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stocktones

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1st time post from a newbie...

Hello & thank you in advance for any assistance you can provide!

My wife & I have a 2BR Lockoff every other year at the Westin Mission Hills in Palm Springs. We've historically used half of it and banked the other half with Interval so the family could take a vacation each year.

As many of you undoubtedly have experienced, maintenance fees have more than doubled since we first purchased it. :annoyed: We've been exploring the possibility of selling, but (after finding TUGBBS while searching timeshare resellers) it seems that perhaps rental is a better option.

I feel like when we first bought, they informed us that we weren't allowed to rent or sell...but I assume that's not how things work in practice? Additionally (and I might not be remembering correctly), I recall usually being asked to provide a picture ID at time of check-in...if that's the case, does that present a problem if I rent out our unit?

Thanks for any illumination! :)

Blessings- Norm
 

vacationtime1

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You may rent your WMH week -- your home resort -- during your ownership season. You simply add your tenant's name to your reservation and they can check in (with their picture id and credit card). You can actually add your tenant's name using the MyStarCentral website.

You are not permitted to rent an StarOption exchange (per SVN rules) or an external exchange -- at least an Interval or RCI exchange. That is probably the basis of your confusion.
 

DavidnRobin

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Reviving an important thread...

You can rent and sell your WMH. As you have probably found, WMH is not worth much on resale market, but at least has some value if Plat.

For renting - you need to reserve a popular week. Then use info this thread for process.

WMH MFs have doubled? didn't know that...
 

bobpark56

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Renting out a unit with date yet to be determined

We are interested in renting out a WSJ studio unit in 2017...date still to be selected. Are there any special hoops we would need to jump through when doing this?

If we do select a week on our own, could we cancel that and select another if our renter wants a different date (subject to availability, of course)?

When selecting a week on our own (before finding a prospective renter), we have been advised that selecting Thanksgiving week might be a good idea. Do you concur?

(We have found several postings in this thread that have been quite helpful, but have not seen one that deals with date TBD...Thanks all!)
 

DeniseM

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I do not think Thanksgiving is a good week for a rental - there are other timeframes that have much higher demand. Weeks [1-14*] have the highest demand. *corrected dates

When you make a reservation that you intend to rent, it is exactly like making a reservation for yourself - the same Starwood reserve/cancel/change rules apply. (Starwood does not get involved in owner's rentals at all - you simply make a reservation for yourself, as you normally would.)

Once you have a renter, you simply call Starwood Owner Services, or go online, and request a confirmation in the guest's name. Starwood will email you a new confirmation within 48 hours, with the guest's name on it. You also need their info. as listed on their ID: first and last name, address, phone number, number of adults, number of children.

I collect a $100 non-refundable deposit first, send them the confirmation, and then the balance is due in full. No cancellations - no changes - no refunds.

Generally, by the time a renter contacts you and asks for a different date, the best dates are gone, so it's better to start out with a strong date, and advertise that date, because the majority of the time, you aren't going to be able to move it.

Travel Demand Index: [Changed TDI to correct one]

tdi-71.gif
 
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Kildahl

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Bump
Although this was discussed (briefly) years ago in this thread, is anyone renting their unit(s) using Airbnb?
 

DavidnRobin

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wow! flash from the past!

Is Airbnb conducive to renting a typical VSE ownership? iirc, I thought the fee is high, and perhaps the conditions challenging (except maybe for a fixed week).
 

suzannesimon

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I’ve rented My Lagunamar fixed Christmas week on AirBnb. Also rented 2 Marriott weeks last year there.
 

suzannesimon

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I have never made a Star Option reservation, but now I seem to have an abundance of restricted Options. Is it still true that we cannot rent SO reservations?
 

pacman777

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I have never made a Star Option reservation, but now I seem to have an abundance of restricted Options. Is it still true that we cannot rent SO reservations?

Yes it is totally illegal to rent out StarOptions reservations. They will prosecute and take-away your ownership. There has been recent cases of owners getting caught and being sentenced to 10 years in prison without parole.
 

suzannesimon

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Yes it is totally illegal to rent out StarOptions reservations. They will prosecute and take-away your ownership. There has been recent cases of owners getting caught and being sentenced to 10 years in prison without parole.
Well that seems a little excessive.
 
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