Lowballers

[DeniseM]

I would NOT use the personal tab on a timeshare rental. If you use the personal tab, you do not have Paypal's protection if there is a problem. I would not expect a renter to forgo that protection. Just include the 2.9% PP fee to your total asking price, and then you don't have to worry about it. (But don't list it separately - renters don't like separate fees.)

I don't accept checks except from friends and family. If someone refuses to use Paypal, I respectfully decline the rental. The time and security involved in accepting checks is just not worth it to me - even if it means losing a rental.

I have found that most people who are not sure about using Paypal just aren't very internet savvy, and if I take a little time to help them set up an Acct., and show them how it works and how it protects them, they almost always come around. With a new Acct. there will always be a delay of 2-4 days while Paypal verifies their Info. (unless the amount is low) so you have to prepare them for that and let them know that it's normal. With a new Acct., Paypal almost always puts any payments of over $2,000 on 24 hr. hold, so you should prepare your renter for that too.

 

[vacationhopeful]

If the renter offers $200-$300, they are not paying $94 for 7 days, they are paying $200 - $300. What you make on it after expenses is of no concern to the renter. What matters to them is what comes out of their parket.

As for your Disney example, how does the cost of Disney park tickets make whatever point you're trying to make? It's easier to say it makes the opposite. They may be budgeting for their lodging last, after all other expenses (yes, including Disney park tickets). If they can't have nice TS accommodations for $500, then perhaps they'll settle for Fleabite Suites if they have to in order to stick within their budget. But doesn't hurt them to test to see what the best they can get for their $500 is. If you don't like the offer, just keep it moving.

I HAVE to pay ANOTHER $99 to net $94 GROSS! Rather play the scratch and sniffs lottery tickets. At least I would have the HOPE to net more money. You also forgot the $6 I didn't collect in Paypal fees, too.

YOUR BLUE COMMENT. They was only offering me $200 for my week. If you are going to use an example, keep the figures the same. Paying $500 a day for amusement park tickets which limits their HOUSING BUDGET to $200 .... I will use the old French Queen's comment (slightly modified) "Let them sleep in their car!".


BASICLY, I have not interest in losing/throwing more money into a rental (MFs are a sunk cost).

 

[Beefnot]

I HAVE to pay ANOTHER $99 to net $94 GROSS! Rather play the scratch and sniffs lottery tickets. At least I would have the HOPE to net more money.

YOUR BLUE COMMENT. They was only offering me $200 for my week. If you are going to use an example, keep the figures the same. Paying $500 a day for amusement park tickets which limits their HOUSING BUDGET to $200 .... I will use the old French Queen's comment (slightly modified) "Let them sleep in their car!".

Let me help you out by pasting what you had originally written, below. (1) The renter would not be requesting to stay in your unit for $94. They would be paying $200-$300. Your post implied that it was insulting that a renter should expect to stay in a TS condo for only $94, which in your example the renter would not. (2) For the Disney example, I was using your figures. If there were a "Think, McFly!" emoticon, I'd be using it right now.

Dang --- it is already listed at $700 or less for the week. But to offer $200-300 for the week WHERE I have to pay $99 for a Wyndham Guest Certificate, is NOT worth it to me. The lowballers offer then nets out to only $100-200 and most likely they will want to pay via Paypal --- more money out of my pocket --- another $6 to $18 dollars of expense. I would LOVE to STAY in a timeshare condo for $94 total for 7 nights.

As for other's limited budgets for vacationing, I love the ones where they state, "I am taking my 3 kids to Disney for the week and we have only $500 to spend for your unit". How much are Disney park tickets per day?

 

[vacationhopeful]

I would NOT use the personal tab on a timeshare rental...

Paypal investigated a Personal Transfer on my account over the weekend. My first and only personal transfer. Guess too many people who regularly get paid or pay money are trying this loophole. I rather NOT risk my Paypal account.

 

[heathpack]

Bottom line, my offer wasn't intended to be an insult or a waste of the sellers time. I simply bid what it was worth to me. If the seller is interested in the offer, great, otherwise, they should just say no and move on. If I don't make the offer, how am I to know it is simply too low for the seller to accept. I must be doing something right, at least as far as my pocketbook is concerned, because some of my lowball offers are accepted.

Totally agree with this. I see LMR all the time for Palm Springs. For all I know, person with the listing is in a use-it-or-lose-it scenario. I might be semi-interested in a long weekend to Palm Springs but not a whole week. In such a scenario, I would offer what 3 nights are worth to me, probably $300. Not offering that as an insult or because I don't understand that Marriott DSVI (say) is a nice place or because I dont have an idea of what the MF are, but simply because that's all I'd be interested in spending for a weekend in Palm Springs.

IMO, don't be upset by offers like that, just tell people no if their offer makes no sense for you.

H

 

[vacationhopeful]

Let me help you out by pasting what you had originally written, below. (1) The renter would not be requesting to stay in your unit for $94. They would be paying $200-$300. Your post implied that it was insulting that a renter should expect to stay in a TS condo for only $94, which in your example the renter would not. (2) For the Disney example, I was using your figures. If there were a "Think, McFly!" emoticon, I'd be using it right now.

Thanks for your help in math. I was teaching ACCOUNTING.

My sunk costs are more than $700. To accept $200 as a rental figure, would require me to PAY another $99 in a Guest Certificate Fee and another $6 in PAYPAL costs. I would net ONLY $95.

Plus, my exposure to a CHARGE BACK from Paypal is $200 plus the additional sunk costs of the Guest Certificate fee of $99.

So, I am risking $99 additional dollars hoping that this unknown person does NOT attempt to get a refund from Paypal to net how much?

Business Class: This is a time sensitive product. .. Some product will go bad on the shelf (not be sold). Limiting the risk of chargebacks and limiting the additional sunk costs in selling last minute inventory is essential (as to not throw more money down the drain).

Pysch Class: If someone has budgetting to sleep their family in a flea bag for $200 for 7 nights (hoping for the moon in getting a timeshare condo instead) while spending $500 a day on Disney tickets, my guess is they are more likely to attempt a Paypal or credit card charge back.

 

[am1]

So $400 or $500 is okay on a prime week at Bonnet Creek in a 3 or 4 bedroom at 1-2 months out from check in? They regularly rent for much higher.

Do these people really think I will accept?

And yes the people who want a large unit for their family and another but can only spend $500 on accommodations because of the rental car, park fees, and airplane are the best. My resort is located inside the gates of Disney. So they can use a shuttle to the parks and save the parking fees. They have a full kitchen which they can use for all meals even trips back from the park for lunch or dinner. The resort amenities are very nice so they can take a day off from going to the park and enjoy the resort.

I have no doubt these people find accommodations in their price range but end up spending more in extras and have a less enjoyable vacation.

 

[Beefnot]

Thanks for your help in math. I was teaching ACCOUNTING.

My sunk costs are more than $700. To accept $200 as a rental figure, would require me to PAY another $99 in a Guest Certificate Fee and another $6 in PAYPAL costs. I would net ONLY $95.

Plus, my exposure to a CHARGE BACK from Paypal is $200 plus the additional sunk costs of the Guest Certificate fee of $99.

So, I am risking $99 additional dollars hoping that this unknown person does NOT attempt to get a refund from Paypal to net how much?

Business Class: This is a time sensitive product. .. Some product will go bad on the shelf (not be sold). Limiting the risk of chargebacks and limiting the additional sunk costs in selling last minute inventory is essential (as to not throw more money down the drain).

Pysch Class: If someone has budgetting to sleep their family in a flea bag for $200 for 7 nights (hoping for the moon in getting a timeshare condo instead) while spending $500 a day on Disney tickets, my guess is they are more likely to attempt a Paypal or credit card charge back.

You may have been teaching accounting, but apparently you fell asleep in English class if you think your accounting (which was very clear) was what I was calling into question. You ever watch that movie "Clueless"?

Oh, and as for your Disney example, you still haven't talked yourself out of that one.

 

[timeos2]

RCI helps set the rate and the market knows it

So $400 or $500 is okay on a prime week at Bonnet Creek in a 3 or 4 bedroom at 1-2 months out from check in? They regularly rent for much higher. .

They may but check the RCI rentals (which certainly help set the rate unfortunately - they pay nothing for the inventory so it's all profit to them!).

They regularly show weeks for $299 - $199 or even less - even at BC. So the amount is within the range of what is to be expected and hardly an unreasonable low ball amount.

The only thing that might make it worth another $100 or two is if it was really a 4 bedroom. Those are a little more rare and don't show up in RCI rentals often. But the extra two 2 bedrooms aren't worth more than simply renting two -2 bedrooms or 2x$199 = $398. Still what you seem to feel is a "low ball". It's not. What those cost in fees and purchase mean nothing to the renter (or RCI it seems). Reality sucks especially in timeshare.

 

[Ridewithme38]

Thanks for your help in math. I was teaching ACCOUNTING.

My sunk costs are more than $700. To accept $200 as a rental figure, would require me to PAY another $99 in a Guest Certificate Fee and another $6 in PAYPAL costs. I would net ONLY $95.

So from a business standpoint it is better to lose ALL of your sunk costs then lose $95 less then your sunk cost?

 

[Beefnot]

So from a business standpoint it is better to lose ALL of your sunk costs then lose $95 less then your sunk cost?

On top of poor English/communication, must you now also pile on by insulting her logical reasoning skills? For shame!

 

[california-bighorn]

They may but check the RCI rentals (which certainly help set the rate unfortunately - they pay nothing for the inventory so it's all profit to them!).

They regularly show weeks for $299 - $199 or even less - even at BC. So the amount is within the range of what is to be expected and hardly an unreasonable low ball amount.

Excellent point!!!!! Looking at RCI rentals I've realized it is almost impossible for a private individual to be competitive in renting their unit at many resorts including many upscale resorts.

 

[vacationhopeful]

So from a business standpoint it is better to lose ALL of your sunk costs then lose $95 less then your sunk cost?

Called RISK of a chargeback amount (the amount of the sale) if the sale costs you have any additional sunk costs. In this case, the sale is $200. Your additional SUNK costs are $99 plus a "cost" of $6.00 in Paypal fees. You would net out $95 dollars ($200-99-6=95).

You have already LOST/SPENT your original sunk costs of the MFs. You would be OUT additional dollars ($99 more sunk costs).

Plus, if you had a chargeback, you would spend several hours fighting it and/or just be royally pissed!

Like I said, the original MFs are sunk. How much is the risk/reward worth to YOU?

 

[Ridewithme38]

Called RISK of a chargeback amount (the amount of the sale) if the sale costs you have any additional sunk costs. In this case, the sale is $200. Your additional SUNK costs are $99 plus a "cost" of $6.00 in Paypal fees. You would net out $95 dollars ($200-99-6=95).

You have already LOST/SPENT your original sunk costs of the MFs. You would be OUT additional dollars ($99 more sunk costs).

Plus, if you had a chargeback, you would spend several hours fighting it and/or just be royally pissed!

Like a said, the original MFs are sunk. How much is the risk/reward worth to YOU?

I guess i'm starting to get it, the risk of a charge back is equal no matter the reward...But you'd rather risk losing $2500 for a rental then $95

 

[am1]

They may but check the RCI rentals (which certainly help set the rate unfortunately - they pay nothing for the inventory so it's all profit to them!).

They regularly show weeks for $299 - $199 or even less - even at BC. So the amount is within the range of what is to be expected and hardly an unreasonable low ball amount.

The only thing that might make it worth another $100 or two is if it was really a 4 bedroom. Those are a little more rare and don't show up in RCI rentals often. But the extra two 2 bedrooms aren't worth more than simply renting two -2 bedrooms or 2x$199 = $398. Still what you seem to feel is a "low ball". It's not. What those cost in fees and purchase mean nothing to the renter (or RCI it seems). Reality sucks especially in timeshare.

No 3 or 4 bedrooms available at rci.com. Especially not at your dream prices. Possibly 3 bedroom deluxe units at wyndhambonnetcreek.com. Please report back on those prices. A 4 bedroom presidential has more value than 2 2 bedroom deluxe units.

Ride, $95 is a waste of time and you give up the opportunity of renting for a higher amount.

This thread seems to have run its natural course. The lowballers disagree that lowballing exist.

 

[am1]

I guess i'm starting to get it, the risk of a charge back is equal no matter the reward...But you'd rather risk losing $2500 for a rental then $95

Vacationhopeful has stated she believes the risk of a charge back is not equal. Even if the risk is the same the reward is different.

 

[Ridewithme38]

No 3 or 4 bedrooms available at rci.com. Especially not at your dream prices. Possibly 3 bedroom deluxe units at wyndhambonnetcreek.com. Please report back on those prices. A 4 bedroom presidential has more value than 2 2 bedroom deluxe units.

Ride, $95 is a waste of time and you give up the opportunity of renting for a higher amount.

This thread seems to have run its natural course. The lowballers disagree that lowballing exist.

Every dollar matters in the long run....i certainly wouldn't walk by $95 on the street and not pick it up because it was a 'waste of time'....i agree if there was an opportunity for renting for more, i wouldn't take $95, but i don't think that's what being discussed in this thread...this thread is mostly about weather people will take a reasonable offer(You guys are calling them lowball offers) for their week, or let it go to waste...

IMO, its more unreasonable to let it go to waste then take a reasonable(Lowball) amount of money for it....

 

[am1]

Every dollar matters in the long run....i certainly wouldn't walk by $95 on the street and not pick it up because it was a 'waste of time'....i agree if there was an opportunity for renting for more, i wouldn't take $95, but i don't think that's what being discussed in this thread...this thread is mostly about weather people will take a reasonable offer(You guys are calling them lowball offers) for their week, or let it go to waste...

IMO, its more unreasonable to let it go to waste then take a reasonable(Lowball) amount of money for it....

Picking up money on the street is a lot different than renting timeshares. If you accept the lowball offer you no longer have a chance to rent it for higher. Possible the lowballer will do some research and offer more. Lots of of requests come in at the last minute.

None of this takes it to account that I will just cancel the reservation and try again with a week further out.

 

[vacationhopeful]

....i certainly wouldn't walk by $95 on the street and not pick it up because it was a 'waste of time'......

Picking up money on the street has almost NO RISK. It is in your pocket and you are walking down the street.

Now ask about the guy who saw and pickup the gold Rolex at FLL airport TSA security check point. That was a NOT FOUND gold Rolex, he was on film, and is sitting in jail or out on bail on theft charges. He was arrested wearing the watch.

 

[timeos2]

The ultimate answer is that the weeks that get so called low balled often go unused. That speaks volumes as to what the true market value is vs what the owners think it should be.

Remember not too far back there was a DVC fanatic that was trying to raise the price on his ownership and rentals by browbeating others to raise their "low" advertised rates! Today those rates are top of the line as overall prices have eroded by about 50% or more. So I guess the "I think it's worth..." idea just doesn't fly with the actual buyers. They will only pay what it's worth to them - not the owner - and not a penny more.

 

[am1]

They will only pay what it's worth to them - not the owner - and not a penny more.

Unless they want the unit and have to pay more than they wanted to to get it.

 

[Beefnot]

The ultimate answer is that the weeks that get so called low balled often go unused. That speaks volumes as to what the true market value is vs what the owners think it should be.

Remember not too far back there was a DVC fanatic that was trying to raise the price on his ownership and rentals by browbeating others to raise their "low" advertised rates! Today those rates are top of the line as overall prices have eroded by about 50% or more. So I guess the "I think it's worth..." idea just doesn't fly with the actual buyers. They will only pay what it's worth to them - not the owner - and not a penny more.

Preach, brother, preach. It is pretty damn dumb to let a rental go unused because "it's worth more than what I was offered". I will say, though, if I encounter someone who has a poor attitude, I will cut off my nose to spite my face. I would never rent or sell to holish individuals.

 

[tschwa2]

I think there is some difference with a fixed or floating week reservation that can't be rescheduled and a reservation made with points that can be cancelled relatively last minute. The non cancel-able reservation holder is more likely to consider very low offers last minute while one with a reservation that can be rescheduled won't lose anything by not accepting especially earlier in the year.

The problem is the renter doesn't always know which kind of reservation is being offered. The renter often doesn't know that some reservations require a $99 guest cert which the one renting is required to pay before putting a reservation in someone else's name.

The other problem is some people use the LMR board to make money on their rentals (although maybe slightly less than when rented earlier) and others are just trying to make whatever they can from something they couldn't rent or use anyway. Again you never know.

I don't think either needs to go into long explanations or upidy "how dare you offer so low, or how dare you not rent to me for my price which is much lower than yours- you should be happy with what ever you get." Just use "No thank you, I can't let this reservation go at that price"

 

[Beefnot]

Unless they want the unit and have to pay more than they wanted to to get it.

Ah, negotiation.

 

[vacationhopeful]

The first offer does NOT have to be accepted. The counteroffer may not be accepted.

Bargaining is called a meeting of the minds. And yes, I have bargained my rental prices.

But the hard decision is if my inital asking is $700, should I take the $550 offered or ask for the $600? Not if I should take the $300 ==> I will lower my offer offline to my lowest and firmest number, calling it MY bottom and final offer.

I have also given over units to the resort to rent.