[2008] Renting our Timeshare

[klconley]

We are considering buying another 308,000 points used from ebay and renting them out every year. Is anyone currently doing that? How much could I expect to make each year on rentals (I realize it depends on where I rent them out). Where are the best places to rent, besides Florida or hawaii of course? What is the best way to advertise rentals?

Thanks. Kelly Conley

 

[legalls]

Renting Points

Effective 3/1/09 you will not be able to rent your points, so I don't think this is a good idea.

 

[garmich]

Effective 3/1/09 you will not be able to rent your points, so I don't think this is a good idea.

After 3/1/19, you will still be able to rent your points. After 3/1/09, you will no longer be able to transfer rented points from your account to another owner's account. If you rent points (to owners and non-owners), the renters will be "guests" and you will need to use a guest certificate. If you no longer have any "free" guest certificates, you will have to buy one at $129 each.

 

[klconley]

Thanks

So, is that $129 per reservation? So, if you rented 70,000 points to owner or non owner for a week it would now cost $129? It sounded as though people were saying we can't rent points at all? Thanks. Kelly

 

[Jya-Ning]

So, is that $129 per reservation? So, if you rented 70,000 points to owner or non owner for a week it would now cost $129? It sounded as though people were saying we can't rent points at all? Thanks. Kelly

$129 is per reservation since you are adding a guest. If you use web to do that, it is $99 instead of $129. You will have to make a reservation and rent it out. You do get 1 free transaction for now. So how much you can get from the reservation is all depends on where you get and when is the trip date but you are looking at the cost which is how many points it cost you, plus the guest certificate, potential transaction cost, advertise cost, potential housekeeping credit .... You can rent that reservation to anyone.

Before 3/1/2009, you can rent out the points to another owner by transfering the point to them, it is asking around $5 per 1K, I herad it range from $3 to $6.5 per 1K range. I doubt it will cover your MF and all the trouble. You can only transfer the points to another owners.

Jya-Ning

 

[klconley]

Renting points

I'm back in 2010 asking if we can still rent points out to "guests" and pay $99.00 on line per reservation? Is it worth it to buy another 308,000 points resale and rent out the 308,000 points. We would want it to cover our current MF plus the second maintenance fee. That's about $3000. Is that unreasonable? I have been reading and it looks like the owners are responsible for damages? Not sure if this would be the best idea. thanks. Kelly

 

[DeniseM]

Right now the market is flooded with cheap rentals - I would definitely not buy to rent!

 

[WeLovetoTravel]

I agree with Denise. If you check the posts here or go to Redweek.com and check out the rentals available there it looks like you would have a tough time making $3000. There are alot of people renting weeks really cheap. Also, as the owner, you are held responsible for damage.
-Deb

 

[jjmanthei05]

I think it depends on where you are able to get for your rentals. We live by Glacier Canyon in the Wisconsin Dells and see rentals for it quite frequently on Craigslist and EBay. They are going for about twice maintenance fees or about $10/k not counting any VIP discounts. Generally the Guest cert is included so you would have to factor the 99$ guest certificate fee.

I believe the 2 main reasons for the profit margin at this particular resort is 1) they are advertising on mediums that don't only attract timeshare owners who already have an idea of costs associated with them. People on redweek and wyndham sites know what the MF are and aren't willing to pay that price when someone else is selling points for at or below cost. 2) Since this is attached to the Wilderness resort, the resort sets the price point. When we stay there our MF of our points cost about 30-40% of what it would cost if we booked the same room through the resort it self. For example next month we are staying in a 4 bed pres for 4 nights for 106K points. At 5$/K that would put my room cost at $530. If we were to book a 3 bedroom condo (it sleeps the same number) through the Wilderness itself it would cost $1,553. So as you can see I could try and rent my reservation for $1,100 or so still being well under the resort itself and be making double my cost. I think if you are able to get certain weeks it may work out for you but you would have to find highly in demand resorts and plan 10 months out which is quite a while to hold inventory.

Jason