How do you 'rent' out your extra points/home week reservation?

[Wolfgheist]

I bought more than I need and figure I better start thinking about how to do something with the extra points.

23,000 annual points for Christmas Week at the Grand Waikikian in a 2 bedroom premium. I will only use this every other year, so what can I do with the year I do not use? Is there a way to rent this week out?

 

[ljmiii]

I bought more than I need and figure I better start thinking about how to do something with the extra points.

23,000 annual points for Christmas Week at the Grand Waikikian in a 2 bedroom premium. I will only use this every other year, so what can I do with the year I do not use? Is there a way to rent this week out?

I've always used Redweek and had no problem finding renters. Though in my case this means just a few times to get rid of weeks we couldn't use.

Many owners on TUG who rent out weeks more frequently are unhappy with RedWeek's shift from DIY listings to protected and verified. But in my mind it's not as if there is a better option for the casual (or semi-casual) owner.

 

[GT75]

You can only rent out your HW. You can list on Koala for free.

 

[elaine]

That's a prime week. I'd think it'd easily rent. You could also check to see if your resort has a FB group. I rented my HGVC Marco week to a fellow owner.

 

[WaikikiFirst]

Christmas Week at the Grand Waikikian

that should be prime material to rent EOY, but you MUST reserve a Home Wk to do so. Press that "Home Week" button when it is "lit".
By "prime material", I mean if you list it to rent for net-net just enough to cover MFs, it will rent instantly. If you think you can make 100% more than your MFs, you may wonder where the demand is.

 

[Wolfgheist]

that should be prime material to rent EOY, but you MUST reserve a Home Wk to do so. Press that "Home Week" button when it is "lit".
By "prime material", I mean if you list it to rent for net-net just enough to cover MFs, it will rent instantly. If you think you can make 100% more than your MFs, you may wonder where the demand is.

I told it auto-reserves on Jan 1st, was that not true? on Jan 1st, each year, I will need to click a reservation button?

Is it not normal, that all of the Christmas weeks currently listed on Redweek are $6,000? I had thought they would be cheaper and was surprised they were that high.

 

[ljmiii]

I told it auto-reserves on Jan 1st, was that not true?...

My understanding is that GW Penthouse weeks (and certainly a GW Penthouse Event week) will auto-reserve and you would have to explicitly cancel it if you didn't want to use or rent it out. But I can't speak from personal experience.

 

[Wolfgheist]

This is 3 years old, but this post says they are auto reserved.

Here's How Owning an Event Week at Hilton Grand Vacations Works

Consider taking your holidays to the next level and discover why one Owner enjoys owning an Event Week in Las Vegas.

www.hiltongrandvacations.com

 

[GT75]

If you own a fixed week, it will auto-reserve. Ours at Craig auto-reserve about two years out.

 

[WaikikiFirst]

If you own a fixed week, it will auto-reserve

yeah, I was wondering cuz it seems there are N owners for N weeks and they paid extra to get that week, so putting it on auto makes sense. Make them Opt-OUT instead of Opting-IN. I doubt many here own HGVC event wks, some ski, ...

 

[WaikikiFirst]

all of the Christmas weeks currently listed on Redweek are $6,000? I had thought they would be cheaper

It is a LONG time til Christmas. The owners can ask for whatever & rdwk now has the power over the owners to basically herd tham all to a small range of "Asks". Why would any owner drop his/her Ask far below the rest this far in advance.
What is the MF? I mentioned asking for 2x the MF above. I don't know the # but I didn't pick 2x randomly. Is MF about $3000/yr? Though given the "scarcity value" of the event wk, I'll guess MF is below $3000 and the default is to ask for, idk, 2.25x the MF?

 

[Wolfgheist]

It is a LONG time til Christmas. The owners can ask for whatever & rdwk now has the power over the owners to basically herd tham all to a small range of "Asks". Why would any owner drop his/her Ask far below the rest this far in advance.
What is the MF? I mentioned asking for 2x the MF above. I don't know the # but I didn't pick 2x randomly. Is MF about $3000/yr?

Well, what the deed/agreement says is $2400 annual.

 

[WaikikiFirst]

is $2400 annual

Makes sense. I had edited my post above. They're asking 2.5x MFs where the scarcity value of the Event Wk adds maybe $2000 (or slightly more) to the "Ask".
$6000 Ask. See where the Bid is over the next 6 months.