2020 Maintenace and should I give up my timeshare?

[dagger1]

Which VIP will rent you 13 months out for $6/1000? Unless he's your uncle! Keep dreaming! I want the max I can get in the discount window! I am averaging $19/1000 so far! All in the discount window!

The market decides the price, not the cost!

Do you mind telling me some of the resorts/timeframes that rent in the $19/1000 range?

 

[SNA27]

Sorry but that is just factually wrong.
If an owner makes a reservation that equates to $300 a night with CWA points
A Canterbury owner makes that exact same reservation but it only cost them the equivalent of $210 a night
Why? Canterbury MFs are $3 per 1k points less than CWA MFs,
That’s why low MF resale contracts are higher priced than high MF contracts on the resale market

I was talking about the market price and you're talking about the cost of points. Two different things. The market decides the price. Your cost determines the profit.

In the example you cited where a CWA owner and a Canterbury owner make identical reservations, Canterbury owner makes a greater profit than the CWA owner.

Btw, imputed costs based on MF alone without taking into account Capital costs doesn't present a complete picture. A retail buyer obviously has a much higher capital cost than a resale buyer. Hence lower profit.

 

[SNA27]

Do you mind telling me some of the resorts/timeframes that rent in the $19/1000 range?

It's an average based on 4 different rentals (5 GCs) I made via Airbnb in 2019. 3 at National Harbor and 1 at Grand Desert.

The highest I have ever gotten is ~$28.5/1000, when my son and his colleague stayed at NY45 for 8 nights and it was billed to his company (2x$275 per night). He actually stayed 6 more days on unbilled points but I am not counting that for this calculation. Anyway, he and his colleague had the best accommodation (2BR Presidential) while others from his company stayed at Hotels and Airbnb paying big bucks and got lesser digs. So, I am happy I had the Wyndham available for him. I wasn't on TUG and didn't know anything about rentals then. In retrospect, I could have made a killing accommodating some of those others at NY45. But my son was reluctant to push that at that time and I missed a golden opportunity to pay off several years of MF.

But recently my son stayed at Canterbury for 4 nights, billing 2 weeknights to his company but that got me only $350 for 36000 points. So ~$10/1000. Not so good. I think my son forgot the tax on top of the allowed limit of $175 per night. (I bet he made the same mistake in NY.) Canterbury costs too many points to be a good rental and very hard to get upgrades.

Grand Desert is a good location when LV has a big conference but there's way too much competition from other Wyndham owners and there are lots and lots of choices right on the strip.

I haven't really figured out this rental stuff, so don't go by experience. There are much more savvy renters out here.

I am not in the rental business and I don't have any resale points. I am not satisfied with just recovering my costs based on MF. I want to recover my capital costs too. So, I will try to rent at~$20/1000 or not rent at all. I am not going to join the race to the bottom. At least not until I face the pressure of too many points left unused.

 

[dgalati]

It's an average based on 4 different rentals (5 GCs) I made via Airbnb in 2019. 3 at National Harbor and 1 at Grand Desert.

The highest I have ever gotten is ~$28.5/1000, when my son and his colleague stayed at NY45 for 8 nights and it was billed to his company (2x$275 per night). He actually stayed 6 more days on unbilled points but I am not counting that for this calculation. Anyway, he and his colleague had the best accommodation (2BR Presidential) while others from his company stayed at Hotels and Airbnb paying big bucks and got lesser digs. So, I am happy I had the Wyndham available for him. I wasn't on TUG and didn't know anything about rentals then. In retrospect, I could have made a killing accommodating some of those others at NY45. But my son was reluctant to push that at that time and I missed a golden opportunity to pay off several years of MF.

But recently my son stayed at Canterbury for 4 nights, billing 2 weeknights to his company but that got me only $350 for 36000 points. So ~$10/1000. Not so good. I think my son forgot the tax on top of the allowed limit of $175 per night. (I bet he made the same mistake in NY.) Canterbury costs too many points to be a good rental and very hard to get upgrades.

Grand Desert is a good location when LV has a big conference but there's way too much competition from other Wyndham owners and there are lots and lots of choices right on the strip.

I haven't really figured out this rental stuff, so don't go by experience. There are much more savvy renters out here.

I am not in the rental business and I don't have any resale points. I am not satisfied with just recovering my costs based on MF. I want to recover my capital costs too. So, I will try to rent at~$20/1000 or not rent at all. I am not going to join the race to the bottom. At least not until I face the pressure of too many points left unused.

Grand Desert is a great location if you book during large conventions ( 3/7-14/2020) Conexpo will attract over 150,000 attendees and exhibitors. Resorts on strip are charging $20 a day resort fee plus $150 minimum per night. I like a 1 bedroom condo rented from another owner at under $100 per night with no taxes or additional fees. Some add in the $150 gift for attending a WOW and the cost is even lower.

 

[joestein]

So, just an update....

I started this process during the 2nd half of December. I received the docs from Wyndham to give back my timeshare around the 10th of January. I had them signed and notarized and sent back fed ex immediately. I didn't hear anything back, so I called them last week and they informed me that my timeshares were officially given back on 1/24. Subsequently, I tried logging into Wyndham's website and I was denied access.

So the process was painless and it took a little over a month.

Meanwhile I turned around and rented a timeshare for this Summer that I wouldn't be able to get through RCI. A 2-bedroom unit at Wilderness Lodge at Big Cedar (I occasionally see studio units) for around the same amount I would spend on annual maintenance plus an exchange fee. So for 2020 I would call it break even. We will see how it goes in the future.

 

[kaljor]

I'm glad it worked out well for you. Thanks for sharing the thoughts that led to your decision and for keeping us posted as to how the process went.