New owner- need help with renting out points and understanding my contract

[bnoble]

To be fair, Cindy's activity was unusual--and she's the first to say so, as she's explained in the past what she was doing. The vast majority of owners who share a stay here or there have had no issues.

But most of the TUGgers who have been open about running a side business with Wyndham have drawn Wyndham's ire. Almost all of those either got out of the business, or at least got a lot quieter about what they were doing.

 

[DTKENT1]

Thank you so much for the advice! I did not purchase anything more from them. I was thinking the same thing, that my payments shouldn't change if I let the vip status fall off. They just kept telling me that my package is worthless without the upgrade to VIP. As far as I know, there was no special interest rate for 2 years or anything like that.
Do you have any tips or advice for using unused points on Extra Holidays rental program?

Vip is almost as worthless as buying more points thru wyndham directly in my book. unless you are retired and have lots of points. But not once have I been in a situation where I said "dang I wish I was vip!" lol kinda like you said no use to you. Plus when selling your package VIP does not go with it and really carries no value. I chuckle when I see them listed forsale including gold vip. Pay it off use it and enjoy it the best you can. My understanding is you can rent lightly just not a super renter but with your point amount idk if ypu would make enough for it to be worth it.

Good luck and try to enjoy it!

 

[RENTER]

I don’t understand what you mean by can no longer rent.

PM sent

 

[RENTER]

Last year, I wrote Wyndham Corporate to ask for clarity on the issue of an owner renting their timeshare to help offset maintenance costs. I received the following answer in writing from an Owner Resolutions & Strategy Executive Case Specialist:

“The only rental option we permit owners to utilize when it comes to rental is the option provided through Extra Holidays directly. Within the terms and conditions associated with any Club Wyndham contract- it discloses that purchases are to be for personal use and not rental by owner for a profit. If an owner is caught renting outside of Extra Holidays, their account can be flagged for commercial use.”

I sent you a PM

 

[tumy87]

Vip is almost as worthless as buying more points thru wyndham directly in my book. unless you are retired and have lots of points. But not once have I been in a situation where I said "dang I wish I was vip!" lol kinda like you said no use to you. Plus when selling your package VIP does not go with it and really carries no value. I chuckle when I see them listed forsale including gold vip. Pay it off use it and enjoy it the best you can. My understanding is you can rent lightly just not a super renter but with your point amount idk if ypu would make enough for it to be worth it.

Good luck and try to enjoy it!

Thank you for the advice!!

 

[JSteveW]

I purchased a new timeshare package (124,000 pts) in July 2022 that gave a bonus of (176,000 pts), totalling up to 300,000 points and making us VIPs for 2 years. We were of course lied to and pushed into buying, then eventually ghosted by all of those we interacted with leaving our questions unanswered. I thought about getting rid of the timeshare, but kept it because I wanted to get this for my young kids' future vacationing pleasures. I was financially more stable at the time I was buying, but now I am unemployed and have a mound of medical bills to pay.

We recently went to a meeting on NYE at the Great Smokies Lodge where they told us that once my VIP status is up, I have to pay more on the mortgage and the maintenance fee. They then told me that I'm losing VIP benefits (which I've never had or been able to enjoy in the first place) and it would be harder for me to get rid of or sell my timeshare later as it doesn't have the VIP status. They presented me with a $980.81/month amount, which is tripled what I'm paying now and can barely afford. I declined due to my current financial and health condition, so they offered to freeze my VIP status until the end of 2024 to give us more time to catch up financially then decide. They also mentioned in passing about being able to sell or rent out my points to help with my monthly payments and eventually offset my payments, but did not give much detail.

Can someone please help and explain to me is this correct? Do I need to upgrade to a VIP status? I was not receiving any discounts or benefits as described by the VIP program.
How do I rent out points? They mentioned using Extra Holidays and I checked it out, but it's still unclear to me. Do I book through Wyndham or EH? Do I have to ensure that the property has availability on both the Wyndham and EH sites? I've checked multiple properties and none of them had the same availability on both sites. Also, will the buyer have to buy all of the dates I've purchased or can they buy just some of the dates? Do I still get paid for this? If you could walk me step by step on this, I'd really appreciate it.
If I have unused points, what's the best way to get money back on it to help with monthly payments?

Someone please help!! I apologize for the many questions but this is the only place I know to turn to for help.

I haven't read all the responses. But I have one thing that may not have been mentioned. The Wyndham Extra Holidays is a legitimate rental operation, using your points. Whatever they get for a rental, they get 40% and you 60%. Call them first and they will advise you what properties to rent and maybe what days. For instance, a four day weekend. You then make a reservation in you name. Then there is a process of turning that rental over to Extra Holidays. They will explain how to do that. It's not complicated. If they don't rent it by the 15 day cancellation period you should be able to cancel it and get your points back. My experience is they don't get a lot of money for the rentals. But it will help with maintenance fees. I have also first searched resort rentals on Extra Holidays to see which ones are renting for higher dollar amounts. But I haven't had a chance to try to rent one of those. Finally, don't wait to the last minute to put something up for rent. Do it early. One more thing. You can make a booking for a guest. There is an extra charge for that but reasonable. So you might be able to rent to family or friends and have them pay you directly rather than go through EH. You could also rent on line to strangers. I believe TUG has posted guidance on how to do that properly. A lot more work.

 

[tumy87]

I haven't read all the responses. But I have one thing that may not have been mentioned. The Wyndham Extra Holidays is a legitimate rental operation, using your points. Whatever they get for a rental, they get 40% and you 60%. Call them first and they will advise you what properties to rent and maybe what days. For instance, a four day weekend. You then make a reservation in you name. Then there is a process of turning that rental over to Extra Holidays. They will explain how to do that. It's not complicated. If they don't rent it by the 15 day cancellation period you should be able to cancel it and get your points back. My experience is they don't get a lot of money for the rentals. But it will help with maintenance fees. I have also first searched resort rentals on Extra Holidays to see which ones are renting for higher dollar amounts. But I haven't had a chance to try to rent one of those. Finally, don't wait to the last minute to put something up for rent. Do it early. One more thing. You can make a booking for a guest. There is an extra charge for that but reasonable. So you might be able to rent to family or friends and have them pay you directly rather than go through EH. You could also rent on line to strangers. I believe TUG has posted guidance on how to do that properly. A lot more work.

Thank you so much!

 

[Jan M.]

Read some of the other threads regarding Extra Holidays.