What is the process of renting a MROP week? I wanted to give it away and/or sell, however I ran into conversations about renting the weeks out, but I have no idea how to do this. This maybe a redundant question, sorry if it is.
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How to rent/sell/give away MROP
- Thread starter WCorrine
- Start date
bogey21
TUG Member
I'm not sure how things work today. I owned an all Red MROP Week many years ago. Back then they had a week or two period called something like "Annual Reservation Period" during which all the Owners got a shot at all the inventory during the next year. What I did was go in during this Period and try to get the best Week at the best Resort I could either deposit with RCI or rent. Once the Week you selected was assigned to you, you were free to use it, exchange it or rent it. If you waited until after the "Annual Reservation Period" was over you could still get a Week but usually they were less desirable.
Selling it was a breeze once you have a buyer. My recollection is that there is no Deed to record. All you have to do after you have a Buyer is get a form from MROP, fill it out and send it to them with a relatively small fee...
George
Selling it was a breeze once you have a buyer. My recollection is that there is no Deed to record. All you have to do after you have a Buyer is get a form from MROP, fill it out and send it to them with a relatively small fee...
George
You reserve a week at a MROP resort (preferably a desirable week at a nice resort) and find a renter. It's that simple. Then get a guest cert. for the renter. MROP does have a mechanism to return their weeks. iirc it costs 2 or 3 MFs.
Jim
Jim
OK dumb question, what is the best method of finding a renter?
You can list it here on TUG in the appropriate sub-forum, Craigslist, Redweek, etc. TUG has several threads on how to rent out a week, it will work the same for a MROP week. Just reserve the best week you can (best rental value) and advertise that specific resort and week. You can reserve weeks up to 18 months out, my week actually has priority at one resort allowing reservation up to 20 weeks out.
Reservations can now be made through the VRI owner's portal on vriresorts.com
I have rented out my MROP reserved week 3 times in the past decade. You can call VRI (who provides management for MROP) and add the guest's name to the reservation; there was no charge for that back then. After my renters signed the rental contract that I provided, I sent the renter the reservation with their name as guest (with my membership number blacked out).
What you net in rental charge should cover your maintenance fee for high demand weeks, prime weeks may even get you more than that ... although with rising MFs neither is as 'automatic' as in years past.
VRI does offer a program to 'rent out' your reserved week but I have no idea how that works or if its a reasonable deal.
Reservations can now be made through the VRI owner's portal on vriresorts.com
I have rented out my MROP reserved week 3 times in the past decade. You can call VRI (who provides management for MROP) and add the guest's name to the reservation; there was no charge for that back then. After my renters signed the rental contract that I provided, I sent the renter the reservation with their name as guest (with my membership number blacked out).
What you net in rental charge should cover your maintenance fee for high demand weeks, prime weeks may even get you more than that ... although with rising MFs neither is as 'automatic' as in years past.
VRI does offer a program to 'rent out' your reserved week but I have no idea how that works or if its a reasonable deal.