Rental TS weeks, is there a way to see actual "sold" price?

[flatiron]

In the TUG Marketplace I see what TS owners are listing their rental weeks for, is there a way to see what it "SOLD" for?

Also, in the property I'm researching I see owners offering only a small discount (-15%) vs. what I could go to the property direct today and book it for.
Any reco for what percent off moves a week? (for example -40% off website price). This is for a future holiday week, not a bargain priced unit 45 days out.

Thanks!

 

[bogey21]

At times I owned both Marriott Weeks and Weeks at Independent HOA Controlled Resorts. I found that Management at most of my Independents were way more willing to negotiate Rental Rates. At some if you were an owner at the Resort and wanted to rent another Week it was an automatic 50% off their posted Rental Rate. I never saw Marriott flexible at all...

George

 

[The Colorado Kid]

Different way to research.....I have found Redweek.com timeshare week rental listings helpful in that they show "sold" rented weeks greyed out for a period of time which gives you a "market value" idea of your rental week. Plus the listings for rentals offered often go out a year so again....a bit of a market-value look.

 

[chapjim]

Different way to research.....I have found Redweek.com timeshare week rental listings helpful in that they show "sold" rented weeks greyed out for a period of time which gives you a "market value" idea of your rental week. Plus the listings for rentals offered often go out a year so again....a bit of a market-value look.

I list rather frequently on RedWeek.com and when I de-activate a listing for a reservation that has been rented, I NEVER change the price to the actual sale price unless the sale price was greater than the price on RedWeek.com.

Why would I?

 

[Eric B]

So that we can tell if you’re the VIPP renting out usage at below your costs with discounts and upgrades that someone is constantly bragging about renting from in the Wyndham forum....

 

[flatiron]

Different way to research.....I have found Redweek.com timeshare week rental listings helpful in that they show "sold" rented weeks greyed out for a period of time which gives you a "market value" idea of your rental week. Plus the listings for rentals offered often go out a year so again....a bit of a market-value look.

That's helpful thanks, (though with a grain of salt that some owners may not report the actual sales price). I've also been looking on eBay, as there is a way to search for only "sold" items. Any other tips? I'm trying to figure out why I see so many units for rent with hardly any discount! Those are the ones not selling I guess...

 

[sjsharkie]

That's helpful thanks, (though with a grain of salt that some owners may not report the actual sales price). I've also been looking on eBay, as there is a way to search for only "sold" items. Any other tips? I'm trying to figure out why I see so many units for rent with hardly any discount! Those are the ones not selling I guess...

There's no incentive for sellers on any platform to report the agreed upon rental price. For me: (1) It is extra time I don't have, (2) It doesn't benefit me to list the final rental price and (3) I generally list my units close to what I need to get for a fair deal. Of course YMMV, but I don't see a scenario where it hugely benefits sellers to do this -- all it will do is potentially lower the value for future rentals, and create unrealistic "list" rental prices.

In your example, if you see lots of listings for the week you need, then I'd just offer away. I don't take offense to people offering a lower price -- I just say "pass - too far apart" or don't respond if the offer is unrealistic. No harm no foul!

-ryan

 

[bnoble]

in the property I'm researching I see owners offering only a small discount (-15%) vs. what I could go to the property direct today and book it for.

If the property offers an attractive cancellation policy, there is no reason to go through an owner. You could try to make lower offers on the rental, but that will take time and that time has value too.

 

[theo]

OP does not mention geographic location / season / week sought, but IMO that missing info is important and relevant if / when comparing developer "rack" rental rates (the highest end of the possible range) to owner-advertised rental figures.

In the "supply and demand" timeshare world (I'll use Snowbird weeks in coastal Florida, at least in non-COVID times, as just one example with which I have personal experience), owners have little or no incentive to heavily "discount" a rental for a week which may very well not be available at all resort-direct, rack rate notwithstanding. Those owners simply don't have to consider heavy "discounting", since demand consistently exceeds supply (except perhaps in these COVID times) in that geographic area during that particular time frame.

Owner maintenance fees also figure into the mix, at least for me. Speaking only for myself, on the rare occasions that I rent out a owned fixed week, my rental figure ends up being around 125-130% of mf, which is still nearly 30% below the "rack rate" at my independent, non-"chain" resorts (...if those weeks were even available at all, resort-direct). Have never had to "negotiate" the posted rental price, but if I ever did so I surely would not choose to later post or share such details. YMMV.

Lotta variables at work here for any universally accurate generalizations, it seems to me, but RedWeek-advertised rental prices generally provide a sound insight into the range of (non developer-direct) rental pricing for any given week at any given resort.

 

[flatiron]

OP does not mention geographic location / season / week sought, but IMO that missing info is important and relevant if / when comparing developer "rack" rental rates to owner-advertised rental figures.

In the "supply and demand" timeshare world (I'll use Snowbird weeks in coastal Florida, at least in non-COVID times, as just one example with which I have personal experience), owners have little or no incentive to heavily "discount" a rental for a week which may very well not be available at all resort-direct, rack rate notwithstanding. Those owners simply don't have to consider doing so, since demand consistently exceeds supply (except perhaps in these COVID times) in that geographic area during that time frame.

I also think that owner maintenance fees figure into the equation. Speaking only for myself, on the rare occasions that I rent out an owned (fixed) week, my rental figure is around 125-130% of mf, which is still nearly 30% below "rack rate" at my independent, non-"chain" resorts (if those weeks were even available at all, resort-direct). Have never had to "negotiate" the posted rental price, but if I ever did so I surely would not publicly post or share what I consider to be details of my own personal affairs. YMMV.

Lotta variables at work here for any universally accurate generalizations, it seems to me.

Thanks for this info. So to clarify, I am the OWNER of a holiday week in 2021 and looking to rent it out. The research I'm doing is to figure out how to price it to move. The property still has plenty of units left to sell this holiday week, it is NOT sold out. That's why I'm surprised that all the listings I see on multiple sites for this date and unit size offer such a shallow discount.

That's great you make a 130% profit over your maintenance fees! I just want to break even after website listing fees, if any. That $ number puts me at -1/3 off the best Internet rate that's "non-cancellable". I wonder if that's a deep enough discount to move? This is what prompted my original post.

The units I see as "sold" on eBay are a slightly deeper discount, and seem to move in 3-4 days. I believe eBay posts the sold amount with no input (or lack thereof) from the owner, which makes it valuable research tool. Is this correct?

Thank you all for your insight!

 

[bogey21]

At one time in my career I bought and sold Treasury Bonds in multi million dollar blocks. An old Bond Trader told me something that has always stuck with me. That is "Your first loss is your best loss". In the rare instances I rented out one of my TS Weeks I offered my Weeks below market with no refunds for any reason. The Weeks always rented quickly allowing me to be done with it and to move on to more important things...

George

 

[chapjim]

So that we can tell if you’re the VIPP renting out usage at below your costs with discounts and upgrades that someone is constantly bragging about renting from in the Wyndham forum....

That would be one of only two people I've ever Ignored on this site.

I'll rent below cost if it's a fixed or floating week if I have to (but the VIPP part doesn't fit that scenario).

 

[dgalati]

So that we can tell if you’re the VIPP renting out usage at below your costs with discounts and upgrades that someone is constantly bragging about renting from in the Wyndham forum....

That would be one of only two people I've ever Ignored on this site.

I'll rent below cost if it's a fixed or floating week if I have to (but the VIPP part doesn't fit that scenario).

It's also because it can be an overly competitive rental market. It's based on the age-old marketing law of supply and demand. If the supply exceeds the demand, like it is for most rentals available, then the rental prices are going to plummet.

Let's say I have a week that I want to rent out. My MFs are $1000. There are other owners in the same boat in the same area. Let's say, for round numbers and argument's sake, there are 100 owners (myself included) who want to rent out their week but there are only 90 people who want to rent. What do I have to do to be one of the 90 owners who get at least some money for their week and not among the 10 who get nothing? The answer: Price it below what the others are charging.

Unfortunately for me and the other owners, there are 99 other owners who are thinking the same thing. Hence, a "reverse" auction ensues. Owners are going to undercut other owners in their prices, even if it means charging less than the MFs. Even if I have to price mine at $800 when everyone else is listing for $900 or more, I'd rather get $800 than be stubborn and get nothing.

Remember, the renter(s) do not care one iota what the owners pay in MFs. They just want to pay the lowest price.

 

[seagila]

In the TUG Marketplace I see what TS owners are listing their rental weeks for, is there a way to see what it "SOLD" for?

Not sure if TUG Marketplace has this resource, but if you're a RedWeek member you can go to What's My Timeshare Worth? and look at historical rental data like the one below for a particular resort. It's not perfect because I don't think it captures all rental transactions or details (e.g. listings used for more than one rental transaction or final agreed upon rental price) and nightly rates may be slightly inflated and skewed in favor of the owner (because owners may report higher final rental prices even if a lower price was negotiated) but it's a good gauge for owners and renters to position themselves to list a week for rent or bargain on a rental price.

Ultimately, though, a week will move based on market demand and how diligent (or desperate) an owner is to get their week rented.

 

[flatiron]

Not sure if TUG Marketplace has this resource, but if you're a RedWeek member you can go to What's My Timeshare Worth? and look at historical rental data like the one below for a particular resort. It's not perfect because I don't think it captures all rental transactions or details (e.g. listings used for more than one rental transaction or final agreed upon rental price) and nightly rates may be slightly inflated and skewed in favor of the owner (because owners may report higher final rental prices even if a lower price was negotiated) but it's a good gauge for owners and renters to position themselves to list a week for rent or bargain on a rental price.

Ultimately, though, a week will move based on market demand and how diligent (or desperate) an owner is to get their week rented.

View attachment 28956

This is a great resource and I bookmarked it, thanks!

 

[dgalati]

I list rather frequently on RedWeek.com and when I de-activate a listing for a reservation that has been rented, I NEVER change the price to the actual sale price unless the sale price was greater than the price on RedWeek.com.
Why would I?

This reminds me of a gambler or horse better that only brags about their winners but never mentions the losers! Most I know
lose more then their winners.