Marriott Grand Residence Club Lake Tahoe Resale Questions

[vikingsholm]

Thank you both for the input. I have a feeling if you rent out 5 out of 13, it should more or less covers the MF. Curious if you go with Tim Golobic, do they always rent? I've seen someone complained that Go-Koala don't rent at all. RW might work but I don't see much traffic there either. The enrollment can cost from 50k to 100k for 5000+ points purchase so guess I plan to do it opportunistically later and makes renting more important if go this route at all but I do like this idea for ultimate flexibility.

You'd want to think about how you allocate, considering points vs. rental weeks.

Rent out high value/high demand weeks for direct occupancy that are more sure to be taken (high season summer and winter), and will command a higher price.

The points you rent out (or sell for that year only, not sure what the correct term is for letting others use your points) could be off season, because then they can be used at any time, and you don't have to worry about whether the unit would be rented by somebody for a particular week (that might be lower demand/off season and unlikely to find a renter). Or if the points are from high season weeks, you'll be allocated more points to rent out and thus make more money off them.

 

[iftravel]

You'd want to think about how you allocate, considering points vs. rental weeks.

Rent out high value/high demand weeks for direct occupancy that are more sure to be taken (high season summer and winter), and will command a higher price.

The points you rent out (or sell for that year only, not sure what the correct term is for letting others use your points) could be off season, because then they can be used at any time, and you don't have to worry about whether the unit would be rented by somebody for a particular week (that might be lower demand/off season and unlikely to find a renter). Or if the points are from high season weeks, you'll be allocated more points to rent out and thus make more money off them.

Yeah, points are way more flexible to rent or to use but it requires a significant front investment of 75k and there is also a potential risk of GRC Tahoe leaving Marriott.

So if I do it, I may buy it mainly for renting out without the enrollment, with the flexibility of depositing weeks into II for trading. I just don’t have the confidence of venturing into a renting business.

 

[WBP]

We love the Grand Residence Club, Lake Tahoe. Our passion for the property goes back to the American Skiing Company Grand Summit days.

For someone looking for an alternative to second home ownership at Heavenly, I believe that GRC ownership may make sense.

I offer you one word of caution: read the reports, carefully, about the extent to which the structure, systems, fixtures, furnishings, and grounds of GRC, Lake Tahoe, have been capitalized, over the years, and their need for capital, in the very near future. Last I read, there was a lot that needed to be capitalized, in the very near future, at a potentially significant cost to the owners.

 

[igopogo]

Three things to factor in to your cost analysis if you are thinking of renting your weeks:

The HOA takes 10% of rental income.
The city takes 14%
There is a housekeeping fee per stay that can range from about $100 to about $300 depending on room size

A route to consider if you are more interested in one season is a winter or summer five week share. The MF is the same per week as a 13 week share but you don’t have to pay for weeks that you are unlikely to use or rent.

The issues that @WBP mentions in terms of deferred maintenance are real and will need to be reckoned with.

With all that said we are happy owners and spend probably 1/6 or our life at the resort. The staff is great and we honestly feel like family when we stay there.