Hi, New here with questions on [renting/selling] my unit

[mikshyle]

Hi, We own in the lakes at the vistana resort. We called one of the places that periodically calls us about renting or selling. "Global resort management"
Has anyone heard of them or used them before. They told me about some merger in orange county last year where they have like 80 conventions coming up in the next year and its more cost effective to put up execs. in time share units verses hotels. Said that we could get up to 17,000 minimum of 14. And rent the two weeks we have banked with II for 2,100 each. Should I not be excited, thinking this is to good to be true. Also asked for a $795.00 refundable fee upfront. REDFLAG?

Any feedback would be greatly appreciated
Thanks in advance, Kim

 

[DeniseM]

Welcome to TUG!

Your instincts are right on - it's a ripoff! Florida is the most overbuilt timeshare location in the world. There is always more supply than demand. Once they have your money you will never hear from them again - after all they HAVE your money, so what's their motivation to actually DO anything? DON'T DO IT!

BTW - you cannot rent weeks you have banked with II. Those weeks no longer belong to you, and it's strictly against II rules to rent exchanges.

If you can tell us a little more about your reason for wanting to sell, we can give you more advice, but you should be aware that the resale value of your resort is minimal - maybe 10% of what you paid. Maybe we can make suggestions about how you can get more out of it by keeping it.

 

[gmarine]

I agree with Denise. Dont pay any upfront fee.

Unfortunately you would be lucky to rent your unit for enough to cover your maintenance fees. Units for sale rarely go for over $1000 for two bedroom units. Check completed listings on EBAY and you will see many that sold for a few hundred dollars.

Denise is also correct that Interval prohibits the rental of exchanges.