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Renting Out Week through Marriott

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hefdog

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I have no experience with renting out my week instead of using it or depositing it. I have the option now to deposit it into Interval, or use the week at my home resort. However, I can use the money right now. I see I can have Marriott rent it out for me. Has anyone had experience with that option, or is there a better way? My guess is Marriott gets a good fee, and it looks like I get taxed on it to boot!
 
I think your best bet is to list it for rent on Redweek.com

TUG also has an area for rental listings and you can certainly also list it there, but I think Redweek drives more traffic to speed the process of renting your week.
 
You can always ask for an offer. I wouldn't expect anything decent. From what I have seen if you have a super popular season/location like a platinum Aruba or Sc expect an offer that would be around 90% of you mf. For everywhere else expect 20-60% of what you paid in Mf. So yes, they may make an offer of $400 for a 2 br lock off platinum Orlando week.
 
Renting Out Marriott Week

My home resort is Newport Coast Villas, should be a pretty high demand location I would think. Its sounding like using Marriott's service isn't advised.
 
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Yes so if you have a platinum week, expect an offer around $800-$950 for you week.
 
When using Redweek, will I have to pay Uncle Sam for whatever proceeds I get? With Marriott's rental service it looks like I would have to.
 
hefdog said:
When using Redweek, will I have to pay Uncle Sam for whatever proceeds I get? With Marriott's rental service it looks like I would have to.
Click to expand...

Redweek (and TUG) are advertising websites - they aren't involved in the actual transaction, so whether you declare it on your income taxes or not, is up to you.
 
hefdog said:
When using Redweek, will I have to pay Uncle Sam for whatever proceeds I get? With Marriott's rental service it looks like I would have to.
Click to expand...

Marriott will give you a 1099 and report it to the IRS. You won't have that reporting with a private rental, but obviously all income is to be reported on your tax return. Though you would be able to write off the use year MFs along with any fees related to advertising the unit. You would end up with only a small profit vs a likely loss if you rent it through Marriott. Better to have a gain and pay taxes than to have a loss that you can't write off.
 
hefdog:
Do you have a week reserved?
If so, place an ad on TUG, Craigslist, RedWeek. Look at those sites to see what others are asking for a similar week. Prime summer weeks will command $2500, Spring/Fall weeks, nowhere near as much. You price yours the same or $100 less.
Use lots of pictures. Describe the area, describe the walk to the shore.

Re: Craigslist - here you have to be cautious of scammers. State that you will only respond to phone calls. That way you will hear whether the person is serious. If you receive any "generic email" that says "is your property still available", they are just "phishing" for your email. Do NOT reply.

There's one in CL Orange County now for late April:
search on "Marriott Newport"
 
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I am wondering if I rent my Aruba week myself do I have to report income tax in Aruba and also in US???
i would like to hear other owners that rent their Aruba timeshare(s) what they are doing about taxes.
There are so many rental postings for Aruba timeshares that it would be interesting to know what is everybody doing about the Tax from this income.
 
This is what I have gathered from this forum: In general, people who do a lot of rentals report it on their income tax. People who only do one or two rentals a year may or may not.

If you use an online Payment system, like Paypal, you are creating financial records that may result in Paypal issuing a 1099 form - if you do a lot of rentals.

Your underlying timeshare expenses, like your maintenance fee, and advertising costs, off-set the income from the rental.

In general, the resorts do not know or care if you are renting your timeshare, and do not get involved in the rental or any tax implications.

It is highly unlikely that the Govt. of Aruba will know you are renting a timeshare week, unless you start a rental business.

*Before the tax police jump all over my case, let me state that I do report my rental income on my income tax. I'm just stating what the common practice seems to be. ;)
 
More or Less

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hefdog said:
I have no experience with renting out my week instead of using it or depositing it. I have the option now to deposit it into Interval, or use the week at my home resort. However, I can use the money right now. I see I can have Marriott rent it out for me. Has anyone had experience with that option, or is there a better way? My guess is Marriott gets a good fee, and it looks like I get taxed on it to boot!
Click to expand...

I've rented out my weeks through Marriott many years ago and then they stopped doing that for my home resorts so I have had to do it myself via Redweek, Home away and AirAnB. You do get more money if you do it yourself but it's a lot more work. Marriott does not take everything even for resorts that still have the owner rental program but when they do I always let them because they can charge a higher rent so the money part is a wash even after the 40% cut and I don't have to do anything.
 
When I rent one of my weeks, I put a listing on Redweek even though I put one on my own site, because Redweek drives more traffic. It's just smart to cover the bases.
 
Thank you Denise,
I am more concern about Aruba taxes than US taxes.
until this year I only owned in Maui and i always report my income in US from renting my timeshares no matter how small or big.
over last year i purchased several weeks in Aruba and i know that i will rent some of them every year since i have more than i can use, at least until we retire.
with so many Aruba rental listings online (redweek has hundreds of them) i would assume that Aruba government has to be interested in all the rental income from these timeshares.
I wonder if any of the hundreds of owners renting their Aruba week(s) report their rental income in Aruba???

thank you in advance for any input
 
if you claim the rental, you should be able to use some amount of depreciation for the unit for each rental year.
 
I know many people who have rented their Aruba weeks and there has never been any mention of paying taxes to the Aruban government.
 
I have 1br/2ba (Platinum) in Maui, they offered $700/wk earlier this year.
 
m61376 said:
I know many people who have rented their Aruba weeks and there has never been any mention of paying taxes to the Aruban government.
Click to expand...

I think that's because most timeshare owners are not making a sufficient amount of "Aruba Source Income" as a nonresident to have Aruba tax liability. Here is a document from PWC:
http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/Aruba-Individual-Taxes-on-personal-income

They mention that "For the calculation of the taxable income, a general exemption of AWG 20,252 applies." Using an exchange rate of $1.00=1.79AWG, you would have to have over $11,314 of income (with no deduction for depreciation) before you would have to pay any local tax in Aruba. I had checked this out with several accountants before proceeding with a planned rental of an Aruba timeshare.
 
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