New VRI timeshare for free

[anthonycasta]

Hello All:

I know nothing about timeshares, which is why I'm here. My buddy has a timeshare that he wants to get rid of, he told me that I can have it for free if I'm willing to pay his current maintenance fees for 2020 which is approx $900 with the late fees.

Here's what I know / what he has told me....

It's a floating week (what does this mean)

It's a 1 bedroom in "High" season (again, no clue what this is)

The annual maintenance fees are $750

The home resort is the San Clemente Inn (VRI Americas) which is not too far from me. I'm really interested in joining Interval International and trading it for some more desirable destinations that I'd actually like to visit.

Does $900 sound like a good deal for a timeshare with a reoccurring annual fee of $750?

I'm currently lost in the timeshare world, looking forward to learning from the seasoned timeshare owners!!

 

[T-Dot-Traveller]

Hello All:

I know nothing about timeshares, which is why I'm here. My buddy has a timeshare that he wants to get rid of, he told me that I can have it for free if I'm willing to pay his current maintenance fees for 2020 which is approx $900 ........I'm currently lost in the timeshare world, looking forward to learning from the seasoned timeshare owners!!

start reading TUG and you will get an idea of terminology and trading thru Intervals .

I cannot give you a opinion on the specific ownership that your buddy wishes to give you .
Someone who knows SanClemente Inn will know more & may help give you answers.

You should ask him. what size unit he owns . ( studio - one bedroom - two bedroom. -etc)
That will also help give an idea of exchange options.

 

[Passepartout]

There is much to be said for this. VRI is well respected as a management company. Their resorts may not have the 'name recognition' of a Hilton or Marriott but they are very nice resorts, well located, there are something like (iirc) 71 that you have priority (early) booking priveleges at. That 'floating' business means that you can 'deposit' your deeded (owned) week with VRI (or for more $$) another exchange company for a week at a different resort.

Of you want basically 'pre-paid' nice resort vacations until you choose to sell or give this away (like your 'friend' is doing) you're on the hook for that annual fee like forever.

The good things about this one is the priority booking, the location of a home resort close by (they might have 'day use' for owners, and good management. The not-so-great, is the basically never ending commitment. Many of us own several (many) TSs and will tell you, they're a LOT easier to acquire than to unload.

Jim

Oh, yeah, that 'High Season' bit. That would be like a beach location during Summer, or a Ski resort in Jan/Feb. You don't want a beach location in Winter or a Ski resort in 'mud season'.
'

 

[TheTimeTraveler]

Hello All:

I know nothing about timeshares, which is why I'm here. My buddy has a timeshare that he wants to get rid of, he told me that I can have it for free if I'm willing to pay his current maintenance fees for 2020 which is approx $900 with the late fees.

Here's what I know / what he has told me....

It's a floating week (what does this mean)

It's a 1 bedroom in "High" season (again, no clue what this is)

The annual maintenance fees are $750

The home resort is the San Clemente Inn (VRI Americas) which is not too far from me. I'm really interested in joining Interval International and trading it for some more desirable destinations that I'd actually like to visit.

Does $900 sound like a good deal for a timeshare with a reoccurring annual fee of $750?

I'm currently lost in the timeshare world, looking forward to learning from the seasoned timeshare owners!!

Anthony; Welcome to TUG. Do consider becoming a member as it will be the best $15 you spend.

Regarding your interest in the San Clemente Inn? I can't tell you anything about it, but be sure that you are receiving title "free and clear", i.e. that the outstanding loan balance is fully paid off.

San Clemente is a nice area, but once you become an owner you may want to consider becoming a member of RCI or Interval International to allow you trading opportunities for travel all over the world.

Hope it works out for you!





.

 

[anthonycasta]

Thank you all for the replies, it looks like I still have a lot of research to do! The only thing that scares me, is that the management company, in this case, VRI controls my destiny. The thought of never-ending maintenance fees that will continue to go up scares me! However, if I'm understanding and reading all of these correctly, the $750 in maintenance fees that I'll be paying every year still gives me 1 week of vacation in a 1 bedroom room. Is it typical of most timeshare to charge more when you use your week, lets say for example an added resort fee of $40 / night upon check-in?

 

[buzglyd]

Thank you all for the replies, it looks like I still have a lot of research to do! The only thing that scares me, is that the management company, in this case, VRI controls my destiny. The thought of never-ending maintenance fees that will continue to go up scares me! However, if I'm understanding and reading all of these correctly, the $750 in maintenance fees that I'll be paying every year still gives me 1 week of vacation in a 1 bedroom room. Is it typical of most timeshare to charge more when you use your week, lets say for example an added resort fee of $40 / night upon check-in?

No. As an owner there should be no resort fee. Sometimes non-owners will get charged.

 

[Passepartout]

Thank you all for the replies, it looks like I still have a lot of research to do! The only thing that scares me, is that the management company, in this case, VRI controls my destiny. The thought of never-ending maintenance fees that will continue to go up scares me! However, if I'm understanding and reading all of these correctly, the $750 in maintenance fees that I'll be paying every year still gives me 1 week of vacation in a 1 bedroom room. Is it typical of most timeshare to charge more when you use your week, lets say for example an added resort fee of $40 / night upon check-in?

Research is good. Have you looked at VRI's website www.vriresorts.com/ it will give you an overview of resorts you can exchange into internally- which means no (or smaller) cost for the exchange. You mention Interval. The two major exchange companies are II and RCI. The membership in either of those is roughly $100/yr on top of the VRI fee. PLUS each exchange costs nearly $300 today. You can use VRI's internal exchanges MUCH cheaper- AND with VRI- you can usually upgrade to larger units- 2-or even 3 bedrooms for an upcharge depending on availability. The key here is to deposit your week early and put in a request for an exchange as soon as possible- as much as a year before move-in.

Jim

 

[anthonycasta]

My understanding is the best benefit to joining II is their getaway packages, I have heard a lot of people rave about how much cheaper the resorts are when you book those packages.

I'm going to thumb through the VRI site now, maybe I'll just deposit internally. This may sound stupid, but, does renting out your week generally cover the cost of the maint fees?

 

[Passepartout]

My understanding is the best benefit to joining II is their getaway packages, I have heard a lot of people rave about how much cheaper the resorts are when you book those packages.

I'm going to thumb through the VRI site now, maybe I'll just deposit internally. This may sound stupid, but, does renting out your week generally cover the cost of the maint fees?

VRI also has 'getaway' low cost rentals. Bear in mind that those are often off-season times of low owner occupancy. Think mud season ski resorts or less desirable locations- think parking lot or dumpster views. Personally I don't think they are worth paying membership fees for access. Ymmv.
I've never covered my MF by renting. But I don't treat it like a business. I've only tried offering my weeks for rent if it becomes apparent I won't be able to use it myself. And my thinking is that IF a given unit can regularly net above the cost of operation (MF), why wouldn't the management company just be in the rental business and not have to put up with pesky owners?

Just my customary $.02 worth.

Jim

 

[jd2601]

We own the Resort on Cocoa Beach a VRI resort. We have rented our week multiple times through the resort and covered slightly more then the MF.

We have been pleased with VRI. Not quite Marriott quality but very nice resort and a good value. I am not sure if all VRI resorts will rent out your week. Full rental is not guaranteed but we have had good luck.

 

[buzglyd]

A summer week in San Clemente would probably cover fees. VRI resorts use Trading Places now as a no membership fee exchange company. RCI or II would be at your expense.

 

[turkel]

The San Clemente Inn is a three star timeshare at best. Not on the beach and not one I would be willing to own. My mother lives close by and knows an owner .
If you really want it your friend should pay you to take it. All fees current, transfer fees and to put it in your name.

Good luck

 

[easyrider]

Does VRI have only weekend check in ?

Bill

 

[RX8]

Why don’t you offer to pay the 2020 maintenance fee (let him pay the late fee) and take the time timeshare for a test ride. If after research and spending a week there you decide that timesharing, and this resort in particular, is for you then you will have plenty of time to get the timeshare transferred before the next maintenance fee. I took it slow as I spent a year and half researching and reading TUG before I pulled the trigger.