Rental advice

[tinkerbell2]

I am thinking of renting my week ( staroptions ) on Redweek , yet I am unsure of the procedure... Is it best to reserve the week first in my name , then make the change or post as "if available" ? I was thinking the first way so to pick a high demand week at Lagunamar using my SVV SO . Is it possible ?

 

[ronparise]

I am thinking of renting my week ( staroptions ) on Redweek , yet I am unsure of the procedure... Is it best to reserve the week first in my name , then make the change or post as "if available" ? I was thinking the first way so to pick a high demand week at Lagunamar using my SVV SO . Is it possible ?

My experience is not with staroptions or with Redweek (i own Wyndham and advertise on Craigslist). Ive had the best luck reserving a high demand/low supply event weekends and advertising them

 

[tinkerbell2]

So you reserve in your name with the company and then change it to the renter?

 

[LisaRex]

This has been a hot button issue here for awhile. It has always been technically against the rules to rent an SO exchange, but Starwood has recently added language to reservations reminding owners that it is against the rules to profit from SVN. I believe this was in direct response to owners who complained to Starwood about this practice, because SVN exchangers were flooding the market and suppressing rental rates, making it more difficult for owners at that resort to rent out their week.

However, to the best of our knowledge, this rule is not actively being enforced. It is very easy to change the name on reservations (you can do it online now), and no Tugger has ever reported being questioned by an agent re a name change or having that rule read to them. There is plenty of evidence that SVNers are either unaware of this rule, or they are actively ignoring it, as there are literally thousands of Starwood rental ads out there that are clearly SVN exchanges. (How can you tell? Ads for WKORV/WLR/WPORV will not list a specific view. Ads for HRA or WSJ won't indicate a particular phase.)

Clearly, Starwood could take additional steps to prohibit rentals if they wanted. How hard would it be to put more clear language on the name change form? "Note: SVN RENTALS ARE PROHIBITED!" But they haven't.

Personally, I don't imagine SVO will ever actively spend time and effort to enforce this rule, mainly because it's no skin off their back. People who rent exchanges are paying their fees, so what difference does it make to Starwood if they are personally using the week? But, can I guarantee that Starwood will continue this laissez-faire approach? No. Can I ensure that you won't be caught? No. So my advice is to not do this, but if you choose to, proceed with caution.

 

[ronparise]

So you reserve in your name with the company and then change it to the renter?

Yes, Thats what I do.

 

[DeniseM]

I am thinking of renting my week ( staroptions ) on Redweek , yet I am unsure of the procedure... Is it best to reserve the week first in my name , then make the change or post as "if available" ? I was thinking the first way so to pick a high demand week at Lagunamar using my SVV SO . Is it possible ?

The others are correct - the best practice is to reserve a high demand week, and advertise that week. If you wait until a renter makes a request, everything will be long gone. The prime resorts/weeks book up right at the 8 mo. mark - as soon as reservations open.

I would not make the reservation at Lagunamar. Mexico has more supply than demand, so it's not a strong renter.

Maui and Harborside have the strongest rental demand, but I hope you are talking about 2016, because 2015 is booked solid until late in the fall.

 

[grgs]

There is plenty of evidence that SVNers are either unaware of this rule, or they are actively ignoring it, as there are literally thousands of Starwood rental ads out there that are clearly SVN exchanges. (How can you tell? Ads for WKORV/WLR/WPORV will not list a specific view. Ads for HRA or WSJ won't indicate a particular phase.)

I agree with much of what Lisa said, but I don't think the lack of a specific view or phase in a rental ad necessarily indictates that it is an SVN exchange rental. I do believe most WKORV owners will list a view since that's such an important feature to renters. Does WPORV even have specific deeded views? WLR has a small number of Ocean Side deeded views, but I believe the rest of the resort is labeled ocean view with most units having great to good views, and a few units not having very good ocean views at all. If I was going to rent out WLR (I own there), I would probably list the view as "varies" to avoid a disgruntled renter who didn't believe their ocean view was acceptable.

For HRA, I wouldn't list a phase. As a renter, I would be focused on unit size. I suppose at WSJ, that would be more important, since the phases are apparently quite different.

Glorian