Best and highest use of WKORVN OF

[CalGalTraveler]

I was going down this track on another thread but thought I would start a new one.

We own a WKORVN 2 bdrm OF EOY which we have always used. We are tiring of Maui and the high MF. It is enrolled in Abound. Instead of using all of it we are considering options to get more use out of this to offset MF instead of selling.

What is the best, most cost effective alternative to get the most out of this?

1) Convert to Abound. Rent half of points out to pay MF and use rest of points in Abound. How long do we get to use these points? How hard is it to rent out points at the going rate?

2) Lock-off and rent studio directly for a high use week. Use the one bedroom or associated SOs. An advantage of this approach is that we can combine with our other WKV SOs rather than having to buy another unenrolled WKV or Orlando unit.

3) Other Idea?

 

[rickandcindy23]

Abound can be a good value, if you use it for off-season weeks. I was talking to another TUGger on Kauai at Westin this past August about the thrifty use of Abound points. I had posted on TUG that I was watching II for a fall week (mid-October) for our son, daughter-in-law and our grandkids at Marriott's Mountain Valley Lodge in Breck. It's a beautiful week to be in Breck.

I was hoping for an exchange. She showed me on Abound that the week was available, and the total cost for the week with our Westin (because our fees are so low per Abound point) would be about $300, or even less. You can look at the chart to see what it would be. I didn't have any Abound points to use but found that intriguing, started looking at charts and availability, and I think this is the way to go with some of our available Abound points at chairman level.

I am still a person who could never be talked into Abound. No matter how hard they try, it's never going to happen, but getting it happenstance, as we did, it seems like a good value. The points they gave for our two OF weeks is what makes the value worthy. Nothing we own in Marriott is going to touch those low fees per Abound point, so enrolling with a hefty purchase is not going to happen.

 

[CalGalTraveler]

Thanks @rickandcindy23 This is very helpful.

I believe you rent out your studio KORN units. Any tips?

 

[EnglishmanAbroad]

Thanks @rickandcindy23 This is very helpful.

I believe you rent out your studio KORN units. Any tips?

Historically studios do not rent well and since the fire all rentals at WKORV/N have been far more difficult with 10x more inventory available for 'prime' weeks. OF naturally attract more attention and do list as higher prices but even these seem to have been struggling more recently. I've seen 'fire' sales on Redweek with people offering last minute 2BR OF at around or even under $2000 (50% of currents MFs) that were probably originally listed at $5,000-$7,000.

 

[rickandcindy23]

Thanks @rickandcindy23 This is very helpful.

I believe you rent out your studio KORN units. Any tips?

We own KOR oceanfront center. I have only rented successfully using RW verify/ protect. People seem to expect it. I do have my own ads, but not once have I rented without the verify/ protect. I get more money that way, whale season is very popular. I discovered that March is not as popular as February, but it's still better to price your week lower than everyone else.

I did rent our studio for 2/23 for $2,200 through RW verify/ protect. I was originally asking $3,200 but it just wouldn't move, so I reduce my price and rented it that very day. Maybe it was too cheap?

My early February dates rented very early on, and for my full asking price, but I advertised immediately after booking the weeks because RW's verify/ protect is good for the full year, well, right up until about 15 days before the rental starts.

Redweek will not add any language into the ad, detailing deeded view, and they have stupid warnings about units having obstructed views, $88 housekeeping fees, and parking fees, none of which are true for our owned weeks. It's really annoying.

If Maui really does take control of the VRBO and Airbnb rental business, like they keep saying they are planning to do, this will benefit timeshare greatly. The thing with these rental homes is locals own most of them. How will Maui County stop them without losing votes of entire families who make a significant income on these homes. Already they said that people out of state cannot run a business on Maui like that, which hurt local management companies who hire people to clean and maintain the units for guests. It's probably not going to slow anytime soon.

 

[vacation dreaming]

Take a look at the Abound points requirements for locations you might visit. I have found converting my OF unit to abound is a good value if I plan ahead and can get the reservations.

 

[Red elephant]

I was going down this track on another thread but thought I would start a new one.

We own a WKORVN 2 bdrm OF EOY which we have always used. We are tiring of Maui and the high MF. It is enrolled in Abound. Instead of using all of it we are considering options to get more use out of this to offset MF instead of selling.

What is the best, most cost effective alternative to get the most out of this?

1) Convert to Abound. Rent half of points out to pay MF and use rest of points in Abound. How long do we get to use these points? How hard is it to rent out points at the going rate?

2) Lock-off and rent studio directly for a high use week. Use the one bedroom or associated SOs. An advantage of this approach is that we can combine with our other WKV SOs rather than having to buy another unenrolled WKV or Orlando unit.

3) Other Idea?

I replied to you on the other thread . I have homeoptions in Nanea and so I can split them and use staroptions for a portion and convert to Abound points with the other portion. Or book 1 week in a one bedroom in Maui and convert the other to Abound. I am not sure you can do that with lockoffs though.
Renting is not my thing.
As chairman you have 2 years to use banked points.
I just booked today OF at Monarch HHI in March for 1775 points. Which is driving distance for me. So look at the Abound chart.
I decide on the places I want to go and keep a log of points required during off season. Then book when the time comes .
I have also decided to try the other Hawaiian islands that Marriott has using my Maui Abound points.
For the higher point resorts I just use interval to trade into. ie HHI in summer which is 5700 points!!

 

[CalGalTraveler]

Thanks. Abound is all or nothing for our interval. That's why SOs are more attractive because I can lockoff and use half. But if I deposit all in Abound there is nothing that says I can rent out part and use part of the points AFAIK. I just cannot keep and use one side of the lockoff when deposited in Abound.

 

[Red elephant]

Thanks. Abound is all or nothing for our interval. That's why SOs are more attractive because I can lockoff and use half. But if I deposit all in Abound there is nothing that says I can rent out part and use part of the points AFAIK. I just cannot keep and use one side of the lockoff when deposited in Abound.

Well if you convert all to Abound points then you can book 1 bedroom in any Hawaiian island for a week or 2 and or take a trip somewhere else with the rest.

 

[SChiam]

For me, electing Abound points for my WKORN OF is the best value, MF is about $0.44 per point. I get 12N 1B at KoOlina for 4700 points (or 1775 points for 5N weekday, 2925 points for 7N). 1500 points for 5N weekday at Marriott Newport 2B Oct-May, 750 points for 5N weekday at Marriott Timber Lodge 1B low seasons, Marriott San Diego Pulse is also a good value. If you’re Chairman and Presidential level, reservations made within 60 days has 30% discount on point. I am thrilled to get 8325 abound points for WKORVN OF. I utilized my Chairman’s benefit for banking and discounts.

 

[rickandcindy23]

For me, electing Abound points for my WKORN OF is the best value, MF is about $0.44 per point. I get 12N 1B at KoOlina for 4700 points (or 1775 points for 5N weekday, 2925 points for 7N). 1500 points for 5N weekday at Marriott Newport 2B Oct-May, 750 points for 5N weekday at Marriott Timber Lodge 1B low seasons, Marriott San Diego Pulse is also a good value. If you’re Chairman and Presidential level, reservations made within 60 days has 30% discount on point. I am thrilled to get 8325 abound points for WKORVN OF. I utilized my Chairman’s benefit for banking and discounts.

There's my expert I met on Kauai at Westin in August.