Am I missing something regarding rental of Manor Club units?

[WelcomeHome]

I'm considering buying a platinum 2 bedroom Manor Club timeshare but I wanted to look at the viability of renting either all or part of it on certain years.

So I looked at Redweek and all the summer rentals for a complete 2 bedroom are going for $1,000 to $1,100. If it possible that the profit on a rental is that low or am I missing something?

If monthly maintenance is $845 and then there's time and expense of executing the rental on Redweek PLUS the optional $100-150 escrow fee to protect buyer and seller, that leaves NOTHING for profit!

What's the story?

Best wishes,
Dave

 

[Steve]

As a Manor Club owner, my opinion is that Williamsburg is overbuilt with timeshares. It's very easy to exchange into the area, even for peak summer weeks. What's more, there are lots of rentals available. Often weeks are offered for extremely low rental rates (less than the maintenance fees) at the last minute...even during June, July, and August.

Manor Club is a beautiful resort, and it exchanges very well in II. However, I would not buy this resort if your goal is to get top dollar on the rental market. There are a few Tuggers, including Brian (Powershift), who rent out Manor Club weeks on a regular basis. He'll probably respond with his experiences.

I think, though, that you would be much better off with a beachfront resort if you are looking to rent it out. In today's economy, I'm not sure I would even want to do that.

Steve

 

[Michigan Czar]

I'm considering buying a platinum 2 bedroom Manor Club timeshare but I wanted to look at the viability of renting either all or part of it on certain years.

So I looked at Redweek and all the summer rentals for a complete 2 bedroom are going for $1,000 to $1,100. If it possible that the profit on a rental is that low or am I missing something?

If monthly maintenance is $845 and then there's time and expense of executing the rental on Redweek PLUS the optional $100-150 escrow fee to protect buyer and seller, that leaves NOTHING for profit!

What's the story?

Best wishes,
Dave

I do not own there but I am sure the economy is a big factor.

 

[gmarine]

$1100 is in the area of 50% of what Marriott charges for a typical summer two bedroom rental. Thats about right for a private rental. I would guess that for July 4th week you could get in the $1300-$1400 range if Marriott's prices are higher that week. There are also so many timeshare units for rent in that area which makes it difficult for MC to command a large premium rental price over other properties.

And as Steve said, MC and Williamsburg in general are easy to trade into.

 

[Big Matt]

To add to what Steve stated above, you will get next to nothing for a rental in Williamsburg outside of the busy seasons which are summer, Christmas week, and late April. The rest of the year you can get a week for under $500 easily. I stayed in a Powhattan Plantation week once for $200 in September.

Williamsburg is not really overbuilt for the high season, but hotel occupancy rates during the low seasons are less than 20%. Very similar to places like Cape Cod and the Outer Banks.

 

[pedro47]

The best selling point about Williamsburg, VA from May to August is it location you are in driving radius or about 250 milies from Maryland,Washington, DC and Northern Virginia.

The Manor Club is the number t/s "1" in the Commonwealth of Virginia.

 

[CMF]

I don't think exchanging into Williamsburg is as easy as some say.

I looked for a flexchange week most of the summer for a neighboor and found very little. Something finally did come up in August, but they had given up and booked hotel rooms at Hershey park for a short getaway.

Charles