I don't think I've seen a tougher rental year than this.

[skimble]

Resorts are offering nightly rates on their home websites. Savvy renters can compare your rental asking price to the rental rate at the resort. And, sadly, I've been finding rental prices through the timeshare websites that beat maintenance fees.
Timeshare resorts are also advertising rentals through discount outlets like Groupon. I have seen a few of my resorts advertising rates that crush maintenance fees on these sites.

I'm offering a prime week at a nightly rate of $130. The resort offers M-Th for $155/night (for the smallest unit.) Or, they have a special stating you can stay for as little as $89/night. Even though I have more days to offer and a larger unit at an overall lower rate, It devalues the rental that I'm offering because of the perception.
In most cases, we are offering 7 consecutive nights that need to be blocked in accordance with the dates we offer. Our own resorts are competing with our pricing, and they offer more flexibility. As a renter, you may be willing to spend 20 to 40 percent more just to get the flexibility.

I think I may be losing some renters because of this.

 

[csxjohn]

We all complain that the HOAs and resorts don't do enough about peeps who can't keep their ownerships. We now see resorts offering rentals below MFs. I think this helps part of the problem and at the same time hurts owners who try to rent out their weeks

When rentasl are below MF I think the resorts are in a downward spiral and sooner or later MFs increase and rental decrease. We can't win IMO.

 

[suzannesimon]

We all complain that the HOAs and resorts don't do enough about peeps who can't keep their ownerships. We now see resorts offering rentals below MFs. I think this helps part of the problem and at the same time hurts owners who try to rent out their weeks

When rentasl are below MF I think the resorts are in a downward spiral and sooner or later MFs increase and rental decrease. We can't win IMO.

It's also a matter of supply and demand. If you are in an area with a lot of timeshares, there is a continuous price war between owners to get rental income.

 

[donnaval]

Bad year for me, too. No takers on good Outer Banks weeks, and tossed back a couple to Wyndham at the 15-day mark. Last year at this time I'd already rented four times as many as this year, and I've kept my asking prices the same as last year even though my fees have gone up.

 

[skimble]

We all complain that the HOAs and resorts don't do enough about peeps who can't keep their ownerships. We now see resorts offering rentals below MFs. I think this helps part of the problem and at the same time hurts owners who try to rent out their weeks

When rentals are below MF I think the resorts are in a downward spiral and sooner or later MFs increase and rental decrease. We can't win IMO.

HOA's, management companies and developers are all trying to stay two steps ahead of us, figuring out ways to trump us before we find the crack in the system-- it's been like this since TUG first started.

It's a new(ish) era in timesharing when owners can legitimately rent out weeks that are not directly attached to their deed. (And, I know Wyndham owners get touchy about the nuances of language here.) I the past, an owner could only rent one week-- the week on his/her deed. Now, owners have shares in a conglomerate, and smart owners are using larger quantities of primes for profit.

There are a glut of rentals on the market, and maybe we are in a cycle like you say, csxjohn. But, we are also seeing low offering prices that beat M Fees. I am wondering if it's all perfectly organic. Developers and Exchange companies have been known to do things to stifle trends in timesharing.

 

[klpca]

I know that someone said it earlier, but I think that the impact of airbnb can't be underestimated. My "kids" are mid 20's to early 30's. Airbnb is the *first* place that they and their friends look for vacation lodging. The flexibility that it offers, plus the price, is very tempting. In the long run, I think that the airbnb business model will change - many places in San Diego county are looking to limit short term rentals in residential neighborhoods for example - but for now it's a disruptive player in the market.

 

[skimble]

I know that someone said it earlier, but I think that the impact of airbnb can't be underestimated. My "kids" are mid 20's to early 30's. Airbnb is the *first* place that they and their friends look for vacation lodging. The flexibility that it offers, plus the price, is very tempting. In the long run, I think that the airbnb business model will change - many places in San Diego county are looking to limit short term rentals in residential neighborhoods for example - but for now it's a disruptive player in the market.

I just looked at this site, and it's amazing.
1. I'm finding places I want to rent!
2. Do you know if we can rent our timeshares through this site?

 

[vacationhopeful]

I know that someone said it earlier, but I think that the impact of airbnb can't be underestimated. My "kids" are mid 20's to early 30's. Airbnb is the *first* place that they and their friends look for vacation lodging. The flexibility that it offers, plus the price, is very tempting. In the long run, I think that the airbnb business model will change - many places in San Diego county are looking to limit short term rentals in residential neighborhoods for example - but for now it's a disruptive player in the market.

The owners who are renting on airbud are living a simple life style ... sort of like letting friend hot-sheet your dorm room. It has been growing fast (like hippie flop pads of the 60's and early 70s).... until kids came along or they got tired of missing or broken possessions. Just add some bedbugs into the mix ... and a few personal injury claims .... guests who change the locks, etc.

In my state, if you are NOT zoned as transtiant housing and you want to evict someone, you have to have the people named on a Landlord License and have proof of having obtained a Certificate of Continued Occupancy from the local town in those people names.

And if you don't have proof of a breakin ... the police won't help.

 

[suzannesimon]

You can rent timeshares on airbnb. In fact someone here on TUG said it was one of the best sources of renters he had. I looked into and passed because you don't get your money until the renter checks out.

 

[vacationhopeful]

You can rent timeshares on airbnb. In fact someone here on TUG said it was one of the best sources of renters he had. I looked into and passed because you don't get your money until the renter checks out.

That is so funny ... motels take the money via a HOLD on checkin ...

 

[bogey21]

I just looked at this site, and it's amazing.
1. I'm finding places I want to rent!
2. Do you know if we can rent our timeshares through this site?

I also checked out the site. If I were younger and still traveling solo, I would use them in a heartbeat. I would probably shorten my trips to 4 or 5 carefully selected days which would save even more money.

George

 

[krj9999]

Ok, to summarize, it's certainly a combination of factors depending on location.

Airbnb/vrbo/homeaway impact. High airfare costs (especially for certain destinations, like Hawaii, St. Thomas, St. Kitts for example). Strong dollar (Americans increasing visits to Europe, but more expensive for foreigners to come to the US). Competing against the resorts themselves, who may provide more flexibility. Holidays falling on less desirable days of the week.

CA - how about the water/drought issue, as well as San Andreas?

Perhaps too many timeshare purchasers purchasing with the intention of renting instead of using?

 

[WinniWoman]

Our resort is very concerned because rentals are down big time and they suspect it is because of the internet. I suspect it is also because of Wyndham coming in a few years ago and Wyndham owners renting out their points and also coming or renting to others for shorter stays.

It is also affecting the full-time owners and fractional owners (1/4 and 1/2 share) rentals as well in terms of their agreements with the resort. Supposedly they are coming up with some new rules for club owners (weeks and RCI points owners) who want to rent their units starting this winter. We are all edge waiting for this one.....

 

[icydog]

Agreed - plus, people want to be AT their destination for the 4th of July - not traveling to or from. I knew the 4th of July was going to be an awkward rental this year.

*Hawaii rentals have been excellent.

I agree. I have a 4th of July rental at the Marriott Fairways up for rent with no nibbles. I think it's the Satuday that's included in a three day weekend that's making it impossible to rent. I think had I listed July 3-10 I might have done better. Or maybe I should have reserved another week this summer? In any case, if I don't rent it, I'm going to use it myself.

 

[skimble]

Ok, to summarize, it's certainly a combination of factors depending on location.

Airbnb/vrbo/homeaway impact. High airfare costs (especially for certain destinations, like Hawaii, St. Thomas, St. Kitts for example). Strong dollar (Americans increasing visits to Europe, but more expensive for foreigners to come to the US). Competing against the resorts themselves, who may provide more flexibility. Holidays falling on less desirable days of the week.

CA - how about the water/drought issue, as well as San Andreas?

Perhaps too many timeshare purchasers purchasing with the intention of renting instead of using?

I tried getting exchanges to fulfill my big vaca this year, and I could not get them through RCI, so I've been immersed in the rental market as a renter this year.
I've been searching Redweek, TUG, Ebay, Resortime, Craigslist, and all the timeshare exchange companies. I'm seeking the bargain-- rental prices that rival my exchange values. And, I've had pretty good success thus far.
Observation: There are TONs of rentals available from Wyndham. Get on Redweek, and you'll see a glut of listings for July 4th week. This tells me people are using points to profit from the primes.
And, landlords are not acting rationally. There are huge fluctuations in competitive pricing.

 

[suzannesimon]

I've pretty much stopped exchanging altogether. I rent my weeks and rent from other owners. I want to try to live dangerously sometime and book my flights first and then wait until the last minute to get a deal on a rental. It certainly looks like a sure thing when you check the last minute deals here and on Redweek.

 

[skimble]

As a landlord, I've seen irrational competition.
I had a guy list his week by mine on Redweek and undercut my offering price by $300. This made no sense whatsoever.
I had four separate units to rent, and through the various sites I used, I had them all rented by the time this guy posted, luckily. (And, I had inquiries still pouring in.)
So, I emailed the guy telling him I closed my listing, as it had been rented, and asked him to bring his rental price up to $895 like mine. I even offered to forward all inquiries on to him. Again, I had three inquiries in two days wanting my unit that I had to turn away.
This was a high demand location, high demand time period. There is a ball tournament in the area and a major festival for this week. It makes no sense to price his unit for $130 less than maintenance fees, $300 less than me.
The guy emailed me back with a rude reply: "I don't see where any of this is your business."

 

[billymach4]

Rented this year. No problems

Listed on Craigslist. Got a few looky lous, and made some potential future customers. Nice local folks that just can't deal with the II exchange nonsense, and Marriott's DC points system.

I plan to rent out my units, use my units where I like to vacation, and rent to vacation, and as a last option exchange if I must.

Not sure why some folks are having problems

 

[skimble]

One more observation as a renter this year...
Redweek is difficult to use. I do not know the East coast well. So, I need to research areas and know the area that I want to book.
When I punch in Myrtle Beach, Redweek gives me a bunch of computer generated geographic locations that don't help me. I don't know if I want East Myrtle, North Myrtle, South Myrtle.... I just want something close to Myrtle, and there's not an option to choose "something close to Myrtle" or "something on the Carolina/Virginia coast. I don't know the area. I want to see everything available within 60 miles of Myrtle, or everything on the Carolina coast... or a map (like RCI) and then I can make an informed decision.
Maybe it's just me, but I'm finding Redweek difficult to use. As a landlord, I've seen my least traffic from this site.
Redweek is using a new format this year.

 

[suzannesimon]

Totally agree. My 2016 spring break week in Key West is already rented. I really believe my problem is 4th of July and Christmas are falling at the wrong time this year. It's a good learning experience for me to be careful when I reserve holiday weeks in the future.

 

[csxjohn]

One more observation as a renter this year...
Redweek is difficult to use. I do not know the East coast well. So, I need to research areas and know the area that I want to book.
When I punch in Myrtle Beach, Redweek gives me a bunch of computer generated geographic locations that don't help me. I don't know if I want East Myrtle, North Myrtle, South Myrtle.... I just want something close to Myrtle, and there's not an option to choose "something close to Myrtle" or "something on the Carolina/Virginia coast. I don't know the area. I want to see everything available within 60 miles of Myrtle, or everything on the Carolina coast... or a map (like RCI) and then I can make an informed decision.
Maybe it's just me, but I'm finding Redweek difficult to use. As a landlord, I've seen my least traffic from this site.
Redweek is using a new format this year.

Have you tried this map right here on TUG? Just click on Southeast USA and start zooming in. http://tug2.com/tsmaps/TimeshareMaps.html

As a landlord, I've seen irrational competition.
I had a guy list his week by mine on Redweek and undercut my offering price by $300. This made no sense whatsoever.
I had four separate units to rent, and through the various sites I used, I had them all rented by the time this guy posted, luckily. (And, I had inquiries still pouring in.)
So, I emailed the guy telling him I closed my listing, as it had been rented, and asked him to bring his rental price up to $895 like mine. I even offered to forward all inquiries on to him. Again, I had three inquiries in two days wanting my unit that I had to turn away.
This was a high demand location, high demand time period. There is a ball tournament in the area and a major festival for this week. It makes no sense to price his unit for $130 less than maintenance fees, $300 less than me.
The guy emailed me back with a rude reply: "I don't see where any of this is your business."

He does have a point. I know you were trying to help him and yourself but he is right.

 

[am1]

Although you gave him good advice and it really is none of your business it seems you priced your units too low as well.

In timeshare rentals some are looking for salvage value while others are trying to put kids through school.

As a landlord, I've seen irrational competition.
I had a guy list his week by mine on Redweek and undercut my offering price by $300. This made no sense whatsoever.
I had four separate units to rent, and through the various sites I used, I had them all rented by the time this guy posted, luckily. (And, I had inquiries still pouring in.)
So, I emailed the guy telling him I closed my listing, as it had been rented, and asked him to bring his rental price up to $895 like mine. I even offered to forward all inquiries on to him. Again, I had three inquiries in two days wanting my unit that I had to turn away.
This was a high demand location, high demand time period. There is a ball tournament in the area and a major festival for this week. It makes no sense to price his unit for $130 less than maintenance fees, $300 less than me.
The guy emailed me back with a rude reply: "I don't see where any of this is your business."

 

[LisaH]

when this thread was first created, I was sitting on an early Aug week in SoCal. Not one inquiry was received then and I was also worried. Since then, I have received three inquires which led to the rental to one of them in full asking price. This year is a bit slow but people are still renting, just a bit later than usual. All is well at the end.

 

[chapjim]

As a landlord, I've seen irrational competition.
I had a guy list his week by mine on Redweek and undercut my offering price by $300. This made no sense whatsoever.
I had four separate units to rent, and through the various sites I used, I had them all rented by the time this guy posted, luckily. (And, I had inquiries still pouring in.)
So, I emailed the guy telling him I closed my listing, as it had been rented, and asked him to bring his rental price up to $895 like mine. I even offered to forward all inquiries on to him. Again, I had three inquiries in two days wanting my unit that I had to turn away.
This was a high demand location, high demand time period. There is a ball tournament in the area and a major festival for this week. It makes no sense to price his unit for $130 less than maintenance fees, $300 less than me.
The guy emailed me back with a rude reply: "I don't see where any of this is your business."

He's right.

 

[WinniWoman]

I am in marketing and when I go around to different offices I have been asking the staff if they have any plans for vacation this summer. I am always shocked that many people have not made plans-YET! Being a timeshare owner, it is a foreign concept to me that in mid-June someone would not have their vacation plans wrapped up by now! Sure- there are some that are doing day trips or staycations, but many people said they just haven't decided what they're doing or booked yet!