Marriott and Redweek come through again. ebay ineffective

[MOXJO7282]

Was getting worried because my last few GO gold weeks weren't getting much interest, and I thought my ownership/rental plan was going to start to suffer because of the economy.

Well I'm please to report that things aren't as bad as they appear. It was Redweek again that came through for me, and actually on the same day no less. And the next day someone express serious interest in my Maui week.

What I'm seeing is people are waiting longer to pull the trigger on rentals, but are still planning on taking one no matter what the economy. I just purchased two NCV for usage and rental purposes. Let's see how they fit into my portfolio.

As a sidenote, Ebay again proved to be ineffective for sellers as it is just a low-baller's market in my opinion. I was panicking alittle and lowered my price on ebay to try to rent and only got low ball offers. I listed them severals times. I almost took $700, but didn't bite.

Then on Friday, bang two serious renters from Redweek surfaced, and we agreed by Monday on prices $450 more than any offer I received via ebay.


Marriott and Redweek is a good combination!!

Regards.
Joe

 

[ownsmany]

Was getting worried because my last few GO gold weeks weren't getting much interest, and I thought my ownership/rental plan was going to start to suffer because of the economy.

Well I'm please to report that things aren't as bad as they appear. It was Redweek again that came through for me, and actually on the same day no less. And the next day someone express serious interest in my Maui week.

What I'm seeing is people are waiting longer to pull the trigger on rentals, but are still planning on taking one no matter what the economy. I just purchased two NCV for usage and rental purposes. Let's see how they fit into my portfolio.

As a sidenote, Ebay again proved to be ineffective for sellers as it is just a low-baller's market in my opinion. I was panicking alittle and lowered my price on ebay to try to rent and only got low ball offers. I listed them severals times. I almost took $700, but didn't bite.

Then on Friday, bang two serious renters from Redweek surfaced, and we agreed by Monday on prices $450 more than any offer I received via ebay.


Marriott and Redweek is a good combination!!

Regards.
Joe

Good to know. I normally don't rent my weeks - don't want the headaches if the renter damages the property, etc. Figure if I have to rent them out - I have too many. JMO Sounds like it works well for you though. Good for you.

 

[tombo]

E-bay is the worst place to rent your weeks for a decent price, however it is better to receive a last minute offer than totally waste a week you can't rent or use yourself. I will rent on e-bay last minute next year if I am stuck with any rental weeks last minute. Something beats nothing every time.

I am glad that your last minute rentals came through. My rentals this year were way off from last year. I received less money this year than I received last year for the same weeks, when I did rent my weeks it was often very close to the check-in dates, and I had to deposit several weeks with the exchange company at the 14 day mark just to not lose them. I went on 2 vacations this year I was convinced would rent and didn't deposit in time, so I ended up traveling for 2 long weekends myself just to not totally lose the weeks.

 

[MOXJO7282]

E-bay is the worst place to rent your weeks for a decent price, however it is better to receive a last minute offer than totally waste a week you can't rent or use yourself. I will rent on e-bay last minute next year if I am stuck with any rental weeks last minute. Something beats nothing every time.

I am glad that your last minute rentals came through. My rentals this year were way off from last year. I received less money this year than I received last year for the same weeks, when I did rent my weeks it was often very close to the check-in dates, and I had to deposit several weeks with the exchange company at the 14 day mark just to not lose them. I went on 2 vacations this year I was convinced would rent and didn't deposit in time, so I ended up traveling for 2 long weekends myself just to not totally lose the weeks.

When I first started renting out units, ebay was a great resource. I remember a few times bidders got caught up and I got a really high number for my Maui studios. Gradually bidders got smarter and ebay became useless. Now its just a bunch of low-ballers. I mean a guy actually offered me $150 for the week. When I rejected, he never made another offer. Another guy $300 and never another bid. There were alot of guys probably, 15 people that made low ball offers of less than $500. I had everything auto rejected but it was ridiculous how many just low-balled me. I never did get a legitimate from any bidder. I'm so glad it didn't work out because I could have rented for considerably less than what I got from Redweek.

The fact is, I don't think Redweek has ever failed me. I should have kept the faith with RW, because it cost me an extra $30 to do a few auctions. I don't think I'll ever use ebay again to rent my units.

Regards.
Joe

 

[Cathyb]

Joe: Is it really worth it to buy timeshares for the main purpose of trying to rent them? As an average, how much percent over your costs do you average per timeshare if you don't mind answering.

We were landlords in California real estate and it had so many problems! However we enjoyed the appreciation that most timeshares don't have.