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Last minute rental section proposed change to 65 days vs 45 days

tschwa2

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The last minute rental section currently (and always) has been limited to 45 days or less from travel.
I would like to see that extended to 65 days.

For those who own traditional weeks and even float weeks that you typically have to reserve 6-12 months in advance, the cut off to deposit with full trading power unrestricted deposit is really 60 days or greater.

If the limit were extended by 20 days it would let tugbbs members advertise for 5 days before they would have to make that deposit decision. It would also give members a little longer to plan for their vacation rental through the forum.

I think the current system is slightly biased toward those who can still cancel without losing anything which are not traditional weeks owners.

Just a throwing out a thought. I don't see it exploding the LMR but maybe I am wrong.

Also wanted to add that normally, depositing when I fail to rent at 60 days isn't a big deal but because of Covid and the depression of the rental market last year, I have way more deposits than I need.
 
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bnoble

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the cut off to deposit with full trading power unrestricted deposit is really 60 days or greater.
This is true in II. It is not true in RCI. In RCI full trading power is at 9 months or greater prior to use. For a fee, that can be extended to as little as 15 days prior to use. So, for RCI, 65 days makes zero difference vs. 45 days.

Either way, I would be opposed to this change. I think of LMR as exclusively for distressed inventory. There is a classified section for everything else.
 

dioxide45

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This is true in II. It is not true in RCI. In RCI full trading power is at 9 months or greater prior to use. For a fee, that can be extended to as little as 15 days prior to use. So, for RCI, 65 days makes zero difference vs. 45 days.

Either way, I would be opposed to this change. I think of LMR as exclusively for distressed inventory. There is a classified section for everything else.
It mostly isn't being used for distressed inventory though. You see a lot of Wyndham listings because VIP owners can cancel up to, something like, 14 days in advance and get a 100% refund on points. So you see a lot of Wyndham listings in LMR. They aren't necessarily distressed.
 

tschwa2

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This is true in II. It is not true in RCI. In RCI full trading power is at 9 months or greater prior to use. For a fee, that can be extended to as little as 15 days prior to use. So, for RCI, 65 days makes zero difference vs. 45 days.

Either way, I would be opposed to this change. I think of LMR as exclusively for distressed inventory. There is a classified section for everything else.

With Rci I can almost extend deposits indefinitely without restrictions using combine. Unfortunately not the case with II resorts.

Trying to rent in 5 days is distressed. Also 70% of the current regular posters are renting non distressed wyndham and other systems with more generous cancellation policies.
 

bnoble

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It mostly isn't being used for distressed inventory though.
Also 70% of the current regular posters are renting non distressed wyndham and other systems with more generous cancellation policies.

That's true---and I'd be fine with a further restriction on LMR, though I don't know off the top of my head what it would be. IMO, the fact that LMR is broken isn't a compelling reason to break it further.
 

rickandcindy23

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I don't think it's broken and don't think it needs fixed. What I find a bit annoying is the LM Wyndham rentals for dirt cheap. You can really cheapen the Wyndham product that way, and it's a great product.
 

escanoe

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This is a market. The seller is willing to list at that price. A buyer is willing to pay it. If Wyndham or anyone else thinks the price is too low, start buying and drive up the price. I don't find it annoying when I look at eBay and find some of the stuff around my house doesn't sell for as much as I think the market should value it.


I don't think it's broken and don't think it needs fixed. What I find a bit annoying is the LM Wyndham rentals for dirt cheap. You can really cheapen the Wyndham product that way, and it's a great product.
 

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I think the current system is slightly biased toward those who can still cancel without losing anything which are not traditional weeks owners.

How do you figure that? Diamond point owners are unable to cancel without loss of some/all points at 91 days out. Any closer and there are penalties. So how is the current system biased in favor of point owners?? I'm surprised that any company, on the whole, allows one to cancel 45 days out without penalty.

To note: it is a violation of policy for a Diamond owner to even advertise their points for rent but that's another story.
 

dioxide45

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I'm surprised that any company, on the whole, allows one to cancel 45 days out without penalty.
Wyndham allows certain owners to cancel at 15 days or something close to that. Thus why the LMR board has so many Wyndham rentals.
 

tschwa2

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How do you figure that? Diamond point owners are unable to cancel without loss of some/all points at 91 days out. Any closer and there are penalties. So how is the current system biased in favor of point owners?? I'm surprised that any company, on the whole, allows one to cancel 45 days out without penalty.

To note: it is a violation of policy for a Diamond owner to even advertise their points for rent but that's another story.
Diamond is probably one of if not the most restrictive of points systems, in terms of their cancellation policy. Do they have any insurance that owners can buy either for a single reservation or for the year? If so that is an option that fixed week owners outside of a points system don't have. On the other end Wyndham with its 15 day cancellation and 24 hr within 14 days is probably one of the most liberal in terms of cancellations without penalty.

My glut of deposits is from Covid so it isn't a huge deal for me, I just thought I would throw the 65 day idea out there. It would help me and it might help other TUG members but if it isn't meant to be then so be it. So say we all.
 

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I strongly agree with extending to 65 days.
-It would increase the potential usage. Many like me have to book flights for a family, and airfares go up less than 60 days out.
- Also, most working people need to plan their vacations with more advance notice. It seems mainly only retirees can benefit from a 45 day window.
-Vistana and many others have restrictions in cancellations less than 60 days, so it would help to have a last ditch rental attempt here before that.
-gives both parties more time to verify the proof of the reservation.

And overall, why not? What’s there to lose with an extra 20 days? It’s still limited by the $800/week
 

T-Dot-Traveller

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The last minute rental section currently (and always) has been limited to 45 days or less from travel.
I would like to see that extended to 65 days.
Just a throwing out a thought. I don't see it exploding the LMR but maybe I am wrong.
My thoughts are :
1)- I cannot think of any negative for a potential renter.

2)- It likely expands the number of rental options & listings .

3)- It expands the window for owners wishing to post rentals.

4) I do not think an extra 20 days creates an overlap with TUG Marketplace rentals
 
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Fried_shrimp

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Diamond is probably one of if not the most restrictive of points systems, in terms of their cancellation policy. Do they have any insurance that owners can buy either for a single reservation or for the year? If so that is an option that fixed week owners outside of a points system don't have. On the other end Wyndham with its 15 day cancellation and 24 hr within 14 days is probably one of the most liberal in terms of cancellations without penalty.

My glut of deposits is from Covid so it isn't a huge deal for me, I just thought I would throw the 65 day idea out there. It would help me and it might help other TUG members but if it isn't meant to be then so be it. So say we all.

Yes. RPP (Reservation Protection Plan) but from my experiences, most members do no purchase it. Platinum owners get free RPP on reservations under 5,000 points, all others (or Platinum if over 5,000 points) must pay. Cost if based on status level with the program being higher for higher status members (I assume due to the possibility of canceling more reservations if one owns more points). But RPP is only good for 31 days or more before check in date. RPP used to be very good when it allowed penalty free cancellations up to 24 hours before check in but that changed about 2.5 years ago, supposedly due to owners abusing it (according the the VP I had a conversation with).
 

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Maybe a 65 day LMR thread in the Vistana Forum? I know I’d like to try and rent out LMR at day 63 instead of ending up with restricted options.
 

theo

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If there is a change in the LMR rental time frame, it should be consistent and "right across the board" for any and all timeshares.
With no offense intended to CPNY above, neither Vistana nor any other "system" should get its' own "special" LMR time frame.
 

rapmarks

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No opinion. Never had even a question let alone a rental from that forum
 

Quimby4

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How can the Wyndham LM Rentals be so cheap? Are owners using points to book and then renting out the units or are they booking some cheap last minute Wyndham Vacations? Has me thinking i need to look into Wyndham...
 

rickandcindy23

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How can the Wyndham LM Rentals be so cheap? Are owners using points to book and then renting out the units or are they booking some cheap last minute Wyndham Vacations? Has me thinking i need to look into Wyndham...
Some Wyndham owners seem to have a lot of points they have to use. Something you can do in Wyndham is book inventory within 15 days and cancel it at the end of the day with no cancellation penalty, as long as you remember to cancel it. At least that is how it once was.

So I think the really last-minute stuff you see on this forum are just a shot in the dark to see if someone will rent.

There are so many rules to Wyndham, added to stop mega renters, including the inability to book overlapping reservations in one person's name. So if you are a couple, you can each have a reservation in your own name, but you cannot have a 3rd reservation. So that is a rule that really hurts mega renters. Now there is inventory sitting online for early June in Bonnet Creek, but you cannot add a guest to anything that week because it's listed as one of the weeks that you cannot add a guest. So that also hurts mega renters (and anyone who needs to rent their units because they aren't using them at this time).

The rules have changed so much, it's almost ridiculous. And more are going into place all of the time.

I find the new search to be very non-user friendly. Our daughter mostly deals with it, but I was looking today for a week at Shearwater for us in July and had a terrible time with it.
 

dioxide45

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How can the Wyndham LM Rentals be so cheap? Are owners using points to book and then renting out the units or are they booking some cheap last minute Wyndham Vacations? Has me thinking i need to look into Wyndham...
From what I understand, VIP Platinum and Founders get a 50% and 60% discount, respectively, when making a reservation inside of 60 days. They also get up to 15 free guest certificates. To further on that, I think they can also cancel up to 15 days before checkin and get all the points back without penalty.


It is hard to compete against the higher level of VIP owners. If you can book inside of 60 days, it doesn't make sense to really own Wyndham, just rent from them instead. You can even score an upgrade if they pass on the upgrade perk. We rented a 2BR Deluxe at Bonnet Creek but are in a 3BR because of this.
 
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Quimby4

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Great info Dioxide & RickandCindy!! Thank you both!
 

eschjw

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I rent using LMR several times a year for myself and retired friends. Extending it an additional 15 or 20 days would be helpful to plan ahead to book airfare if needed. I currently only rent were I can drive in a day.

I also use LM rental wanted to solicit rentals from owners and an extension there would also be helpful to plan ahead. The flexibility that some Wyndham owners have is great and it has enabled me to make conditional deals based on upgrades coming thru.

I don't own Wyndham but some of the nicest owners that I have done business with on TUG do.
 
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