• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $23,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $23 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Rental Success?

hcarman

TUG Review Crew: Veteran
TUG Member
Joined
Jan 30, 2010
Messages
779
Reaction score
182
Location
Tamarac, FL
In years past we haven’t rented out our vacation clubs very much. However, with new jobs and less time to travel as well as the ever increasing cost of maintenance fees we are finding we need to rent more. We own some popular resorts and we book during peak travel times but we are finding it harder and harder to rent - even with competitive pricing (often the lowest). We are actually losing money trying to rent these things. Just wondering what others experience is? I know some are successful and maybe we are doing something wrong. Is there just too much competition from VRBO and AirB&B. Are younger generations just not interested in renting vacation clubs? Wondering if these vacation clubs are becoming an endangered species as maintenance fees increase at 5-7% a year and rental costs have to cover.
 

SteelerGal

TUG Member
Joined
Mar 8, 2019
Messages
1,758
Reaction score
835
Resorts Owned
WKV, SDO, HPP, Bay Club
It truly depends on where and when. I continue to just use RedWeek because haven’t had luck on VRBO or HomeAway.
 

WVBaker

TUG Member
Joined
Mar 19, 2015
Messages
2,487
Reaction score
2,087
I don't understand how vacation clubs would differ from timeshares.

Airbnb is my go to choice for renting, with Homeaway/VRBO in second place. Keep in mind that popular resorts doesn't always equate to popular tourist areas. Orlando, Daytona Beach and Las Vegas are of course popular tourist areas. Knowing the absolute peek tourist times of the year is just one key. Understanding your competition and how they price their units is also vital. ;)
 

goaliedave

Guest
Joined
Jan 5, 2019
Messages
1,298
Reaction score
855
Resorts Owned
Raintree, Diamond (bought by Hilton), Shell (bought by Wyndham), Sheraton (bought by Marriott), Palace Resorts, a few independants
I have never rented my ts... but i would like to understand the steps. Do I book the week in my name then get a guest certificate in the renter's name? When do they pay? What if they cancel or don't pay?

Sent from my SM-A505G using Tapatalk
 

chapjim

TUG Review Crew: Veteran
TUG Member
Joined
Jan 10, 2010
Messages
6,613
Reaction score
4,192
Location
Fairfax County, Virginia
Resorts Owned
Wyndham VIPF & PresRes, HVC/DRI (Gold), Quarter House (4), Resort on Cocoa Beach (2), HGVC Tuscany Village, HGVC South Beach-McAlpin, HGVC Parc Soleil
1. Book a week (or weekend) you think will sell.
2. List it wherever you want (RedWeek.com, craigslist.org, TUG LMR (if within date and price limits), TUG2 (but don't expect much), ebay (but remember there are final value fees if it sells). I don't use Air B&B, VRBO, or SMTN. At the suggestion of a TUGger, I posted on Kijiji (Canadian site) this winter. Never had a nibble.
3. Put the reservation in the guest's name.
4. Get paid. (Some do 4 before 3. I normally don't except for ebay but that because ebay works that way.)
5. What if they cancel? What kind of terms did you have either in a rental agreement (which I don't use) or in email correspondence?
6. What if they don't pay? Take the reservation out of their name (or don't put it in their name). As the owner, you have the "last word."
7. Don't get greedy. Be happy to cover or come close to covering your maintenance fees. Fixed weeks are different than floaters or points-based reservations.

This afternoon, a renter canceled a 3BR unit at Ocean Walk for Bike Week. She had deposited $300. I refunded it, even though I had sent a guest confirmation. I may have to pay for a guest confirmation if I run out later in the year but I have a happy and probable future renter because I treated her right. She'll remember and will probably be back. Except for the guest confirmation, I'm no worse off because of the cancellation. I have time to re-rent the unit and if I don't, I'll get a lot of points back when I cancel the reservation fifteen days before check-in. No biggie.
 

goaliedave

Guest
Joined
Jan 5, 2019
Messages
1,298
Reaction score
855
Resorts Owned
Raintree, Diamond (bought by Hilton), Shell (bought by Wyndham), Sheraton (bought by Marriott), Palace Resorts, a few independants
1. Book a week (or weekend) you think will sell.
2. List it wherever you want (RedWeek.com, craigslist.org, TUG LMR (if within date and price limits), TUG2 (but don't expect much), ebay (but remember there are final value fees if it sells). I don't use Air B&B, VRBO, or SMTN. At the suggestion of a TUGger, I posted on Kijiji (Canadian site) this winter. Never had a nibble.
3. Put the reservation in the guest's name.
4. Get paid. (Some do 4 before 3. I normally don't except for ebay but that because ebay works that way.)
5. What if they cancel? What kind of terms did you have either in a rental agreement (which I don't use) or in email correspondence?
6. What if they don't pay? Take the reservation out of their name (or don't put it in their name). As the owner, you have the "last word."
7. Don't get greedy. Be happy to cover or come close to covering your maintenance fees. Fixed weeks are different than floaters or points-based reservations.

This afternoon, a renter canceled a 3BR unit at Ocean Walk for Bike Week. She had deposited $300. I refunded it, even though I had sent a guest confirmation. I may have to pay for a guest confirmation if I run out later in the year but I have a happy and probable future renter because I treated her right. She'll remember and will probably be back. Except for the guest confirmation, I'm no worse off because of the cancellation. I have time to re-rent the unit and if I don't, I'll get a lot of points back when I cancel the reservation fifteen days before check-in. No biggie.
Thanks! In your example you talked about a deposit. So step 4 is the deposit... when do they pay the balance ... before the date to get my points back? Would renters ever agree to pay in full on booking?

Sent from my SM-A505G using Tapatalk
 

chapjim

TUG Review Crew: Veteran
TUG Member
Joined
Jan 10, 2010
Messages
6,613
Reaction score
4,192
Location
Fairfax County, Virginia
Resorts Owned
Wyndham VIPF & PresRes, HVC/DRI (Gold), Quarter House (4), Resort on Cocoa Beach (2), HGVC Tuscany Village, HGVC South Beach-McAlpin, HGVC Parc Soleil
Thanks! In your example you talked about a deposit. So step 4 is the deposit... when do they pay the balance ... before the date to get my points back? Would renters ever agree to pay in full on booking?

Sent from my SM-A505G using Tapatalk

I don't always take a deposit but I do try to work with people. In the example I gave, the renter asked if I would accept payments for this fairly expensive week. She proposed a payment schedule which I accepted.

You have to negotiate terms but yes, you want full payment before your drop-dead date.

I can't help you with terms other than that. Is the week something you need to sell or is it a desirable reservation?
 

goaliedave

Guest
Joined
Jan 5, 2019
Messages
1,298
Reaction score
855
Resorts Owned
Raintree, Diamond (bought by Hilton), Shell (bought by Wyndham), Sheraton (bought by Marriott), Palace Resorts, a few independants
I don't always take a deposit but I do try to work with people. In the example I gave, the renter asked if I would accept payments for this fairly expensive week. She proposed a payment schedule which I accepted.

You have to negotiate terms but yes, you want full payment before your drop-dead date.

I can't help you with terms other than that. Is the week something you need to sell or is it a desirable reservation?
Thank you that's great. I've no specific plans to rent but it might come up in fall, so just starting to think. Also I've got 3 weeks in Kauai starting later this month, but might rent them in 2021 as they're desirable weeks.

Sent from my SM-A505G using Tapatalk
 

brianfox

TUG Member
Joined
Apr 14, 2007
Messages
796
Reaction score
446
Location
Thousand Oaks
Resorts Owned
Marriott Waiohai x3
I will add one missing yet very important step: Have both parties sign a rental agreement!
 

chapjim

TUG Review Crew: Veteran
TUG Member
Joined
Jan 10, 2010
Messages
6,613
Reaction score
4,192
Location
Fairfax County, Virginia
Resorts Owned
Wyndham VIPF & PresRes, HVC/DRI (Gold), Quarter House (4), Resort on Cocoa Beach (2), HGVC Tuscany Village, HGVC South Beach-McAlpin, HGVC Parc Soleil
I will add one missing yet very important step: Have both parties sign a rental agreement!

Not important to me and since I'm an attorney by education, I'm supposed to love written agreements. I don't. I did a rental agreement several years ago because a guy from NYC insisted on it, but none since.

One exception. If a rental agent takes one of my reservations for a client, I'll sign their standard form agreement. Invariably, they only require an e-signature.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,621
Reaction score
4,499
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Not important to me and since I'm an attorney by education, I'm supposed to love written agreements. I don't. I did a rental agreement several years ago because a guy from NYC insisted on it, but none since.

One exception. If a rental agent takes one of my reservations for a client, I'll sign their standard form agreement. Invariably, they only require an e-signature.
I like a Rental agreement because I’m not a broker, I’m just a guy trying to pay maint fees. So I like having a signed contract that states my refund policy. I’ll make changes and allow them to make changes but it would be subject to program rules and availability but that money is going toward maint fees and I’m not going to be stuck with points that are restricted because of cancellation time. So I prefer a rental agreement...... must be a NY thing I guess. But everyone I’ve ever rented from had me sign an agreement. It’s also good to put down that they are liable for any charges incurred at the resort. I recently saw a post on here that a renter wanted the owner to pay 40 bucks because the resort charged the renter for not going to an update? Idk, wouldn’t be my issue since they signed an agreement.
 

tschwa2

TUG Review Crew: Veteran
TUG Member
Joined
Dec 19, 2008
Messages
16,157
Reaction score
4,775
Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
I like a Rental agreement because I’m not a broker, I’m just a guy trying to pay maint fees. So I like having a signed contract that states my refund policy. I’ll make changes and allow them to make changes but it would be subject to program rules and availability but that money is going toward maint fees and I’m not going to be stuck with points that are restricted because of cancellation time. So I prefer a rental agreement...... must be a NY thing I guess. But everyone I’ve ever rented from had me sign an agreement. It’s also good to put down that they are liable for any charges incurred at the resort. I recently saw a post on here that a renter wanted the owner to pay 40 bucks because the resort charged the renter for not going to an update? Idk, wouldn’t be my issue since they signed an agreement.
Problem with that is unless you have a 30+page agreement a renter is going to find an issue that isn't covered in a standard 1-2 page agreement.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,621
Reaction score
4,499
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Problem with that is unless you have a 30+page agreement a renter is going to find an issue that isn't covered in a standard 1-2 page agreement.
It ain’t that serious ha. Im fine with covering the basics. Check in check out dates, times, fees and resort charges and refund status etc, and anything else that they would want protection from. If i cancel of if reservation is somehow cancelled for some odd reason by the resort etc. it’s generic but I find it puts a renter at Ease.
 

Ski-Dad

TUG Member
Joined
May 18, 2019
Messages
571
Reaction score
483
Location
East Coast - Canada
Resorts Owned
Sheraton Desert Oasis
Marriott Grande Vista - Florida Club
Grandview LV - Vacation Villages
Not important to me and since I'm an attorney by education, I'm supposed to love written agreements. I don't. I did a rental agreement several years ago because a guy from NYC insisted on it, but none since.

One exception. If a rental agent takes one of my reservations for a client, I'll sign their standard form agreement. Invariably, they only require an e-signature.

Me too. This is exactly my experience. I also own a beach house (real house, not timeshare), and I have been renting weeks for 15 years. I don't use a rental contract, other than a few lines of email. Used a contract once as a guest insisted. Email says "$X or Y% of rent on confirmation with the balance due 30 day prior to check-in. Deposit is non-refundable"

If you have trouble, good luck with enforcing any judgement in another jurisdiction. It is straight forward, but it takes time and work and rarely represents in money in your pocket.

I have had success on VRBO and TUG in renting spare SDO weeks at a small profit. The easy thing about renting a timeshare is the resort will take credit card deposit as security deposit. Damage at your personal home is tougher to charge back.

Ron
 

chapjim

TUG Review Crew: Veteran
TUG Member
Joined
Jan 10, 2010
Messages
6,613
Reaction score
4,192
Location
Fairfax County, Virginia
Resorts Owned
Wyndham VIPF & PresRes, HVC/DRI (Gold), Quarter House (4), Resort on Cocoa Beach (2), HGVC Tuscany Village, HGVC South Beach-McAlpin, HGVC Parc Soleil
I like a Rental agreement because I’m not a broker, I’m just a guy trying to pay maint fees. So I like having a signed contract that states my refund policy. I’ll make changes and allow them to make changes but it would be subject to program rules and availability but that money is going toward maint fees and I’m not going to be stuck with points that are restricted because of cancellation time. So I prefer a rental agreement...... must be a NY thing I guess. But everyone I’ve ever rented from had me sign an agreement. It’s also good to put down that they are liable for any charges incurred at the resort. I recently saw a post on here that a renter wanted the owner to pay 40 bucks because the resort charged the renter for not going to an update? Idk, wouldn’t be my issue since they signed an agreement.

I'm not a broker either. Like you, I'm just a guy trying to cover maintenance fees and other expenses, perhaps on a different scale, that's all.

(Don't tell anyone but I'm originally a New Yorker, but now a Virginian.)
 

RNCollins

TUG Lifetime Member
Joined
Jan 2, 2016
Messages
3,336
Reaction score
1,202
Location
Borscht Belt
Resorts Owned
Tradewinds, Quarter House, Casa Ybel
@hcarman, I use TUG2, Redweek and MyResortNetwork to advertise my rentals. I have also used the Facebook group: Timeshare & Resort Vacation Rentals. Other places to post rentals could be Facebook Marketplace and Nextdoor.

Once I have found a suitable renter, I have my guests sign a simple rental agreement. I’ve had renters pay by payments, pay in full, by check, or PayPal. Each rental is unique.

This link below has helpful articles about renting your timeshare and lists examples of Rental Agreements:
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
23,298
Reaction score
9,096
Location
Florida
and our how to rent guide which is an overview of renting your timeshare yourself! https://rent.tug2.net
 
Top