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No luck renting out our Marriott Ko Olina week

TravelTime

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I advertised a rental of one week in an ocean view studio at Marriott Ko Olina. I placed the ad on TUG and Redweek about one month ago for a late September reservation. No one even inquired. So I ended up depositing the week into II for a trade before 60 days out and exchanged for a week next summer in the US Virgin Islands. I was only asking $1400 for the studio for one week. I priced it very competitively. I am wondering if many Tuggers find it hard to rent out your extra weeks that you can’t use? I wonder if I just advertised it too late given it was about 3 months before the check in date?
 

CalGalTraveler

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I can't speak for the property, but Fall is one of the slowest seasons for travel. Might have a different outcome if July or whale season.
 

Fredflintstone

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I advertised a rental of one week in an ocean view studio at Marriott Ko Olina. I placed the ad on TUG and Redweek about one month ago for a late September reservation. No one even inquired. So I ended up depositing the week into II for a trade before 60 days out and exchanged for a week next summer in the US Virgin Islands. I was only asking $1400 for the studio for one week. I priced it very competitively. I am wondering if many Tuggers find it hard to rent out your extra weeks that you can’t use? I wonder if I just advertised it too late given it was about 3 months before the check in date?
Hi, I rent timeshares often but I do look at Airbnb for comparison. I shoot for between 700 to 1000 per week and that includes Hawaii for a full condo. Although the Marriotts are awesome, you can still get unbranded nice places in Hawaii for between 700 to 1000 for a week on Airbnb. This is especially true when the dates are determined by you versus determined by the specific times I want.


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TravelTime

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Hi, I rent timeshares often but I do look at Airbnb for comparison. I shoot for between 700 to 1000 per week and that includes Hawaii for a full condo. Although the Marriotts are awesome, you can still get unbranded nice places in Hawaii for between 700 to 1000 for a week on Airbnb. This is especially true when the dates are determined by you versus determined by the specific times I want.


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It sounds like we are better off using the time or exchanging it on II. We are happy with the St John exchange. It rents for about $2500 for a studio so that is worth a lot more to us than getting $1400, or $700-$1000, esp since rental income is taxable but exchanges are not.
 

DeniseM

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September is very off-season, and also, 3 months before check-in, is late to start advertising. You will do much better with a mid-summer reservation, or February.

*Be aware that Westin St. John is still closed from last year's hurricane season, so keep an eye on the re-opening date, and the weather.
 
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Fredflintstone

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It sounds like we are better off using the time or exchanging it on II. We are happy with the St John exchange. It rents for about $2500 for a studio so that is worth a lot more to us than getting $1400, or $700-$1000, esp since rental income is taxable but exchanges are not.
Yes, you certainly can do that. Yes, the rental income is taxable but once you claim the income you can now write off all fees like maintenance, guest certificate if needed, etc. Leaving you most times with a negative balance.

I don’t know about ll but RCI charges ridiculous amounts for extending points or weeks and exchange fees are outrageous in my opinion.

I do know I have had no problem getting very nice accommodations for between 700 and 1000 a week so that is my limit. However, I am sure other folks have higher limits than I.


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TravelTime

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September is very off-season, and also, 3 months before check-in, is late to start advertising. You will do much better with a mid-summer reservation, or February.

*Be aware that Westin St. John is still closed from last year's hurricane season, so keep an eye on the re-opening date, and the weather.
Thanks Denise. Our exchange is for the Grande Bay Resort, which opened in February.
 

TravelTime

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BTW, I had little choice with reserving September since our plans changed. I know it was not optimal. I had a July reservation before but we had to change it and moved it out a few months. We wanted to change it in June but it was already to late to get another date for this year. I also asked if I could use the lock off to get 2 weeks but MVC said there was no space for weeks owners, only points owners. Originally we had planned to use the 2 bedroom but now we are traveling as a couple instead.
 

brianfox

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BTW, I had little choice with reserving September since our plans changed. I know it was not optimal. I had a July reservation before but we had to change it and moved it out a few months. We wanted to change it in June but it was already to late to get another date for this year. I also asked if I could use the lock off to get 2 weeks but MVC said there was no space for weeks owners, only points owners. Originally we had planned to use the 2 bedroom but now we are traveling as a couple instead.
At that point, rather than moving the reservation to September, it may have been better to rent out your July week and rent into a September week. You probably would have come out ahead financially.
 

TravelTime

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At that point, rather than moving the reservation to September, it may have been better to rent out your July week and rent into a September week. You probably would have come out ahead financially.
I do not have a July week anymore. I switched it to late September, thinking I would need the entire 2 bedroom in September. But now we only need a 1 bedroom. If I could have switched back to July, I would have done that but it was too late as Marriott Ko Olina was completely booked for week owners. There is availability for points owners, though.

The good news is we did get a couple inquires to rent out our September studio lock off week. We did not know because the emails from Redweek weren't going through. By the time we discovered there was interest, we had already exchanged our studio week for St John. Live and learn!
 

janej

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I have been renting out my Barony Beach Club July weeks for the past few years. I did not have to pay Red Week last year or the year before. But this year it still did not rent early June. I put it on Red Week and it rented right away by a 3rd party agent. Afterwards, I got several inquires from VRBO before I could remove the listing. There are many last minute renters, but it would be too much stress for me.
 
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