Renting - Split or No Split?

[jcrist]

Have a mid-season week at Desert Springs. Rented it past two years. Was thinking of trying to split it and rent the two sides separately. Anyone with experience renting find that it is worth it to split it versus renting the entire unit together.

 

[EKniager]

Check the values on Redweek.com for the weeks you are reserving at your specific resort. I think that will provide you with the best available data regarding those two scenarios.

 

[jcrist]

Check the values on Redweek.com for the weeks you are reserving at your specific resort. I think that will provide you with the best available data regarding those two scenarios.

That's what I initially did, but realizing you don't know for sure the actual rental price. There could be big differences between asking price and what they actually rented for. Based on history I know I can rent fairly easily for $150-$175/night for 2 bedrooms. I'm guesstimating the 0/1 are going for around $70 and the 1/1 is going for around $110.

I found it interesting how the number of inquiries really takes off when you are within about 3 weeks or less of the date. So if you are reasonably priced, don't panic early on.

I also don't get what the 1/1.5's are? There's only one bathroom on each side. Are people calling it a 1.5 just because it has two entries? Or am I not aware some units have an additional half bath? The things desperate/greedy people will do/say.

 

[molemay]

It will also cost you the lock off fee of $75 that you will need to recoup. I don't know that it is worth it to lock off before renting.

 

[jcrist]

I took some time to run some numbers. I looked at units for both I and II from the earliest until end of March on Red Week

0/1 units - 17 listed, 5 rented, estimated avg rental $70/nt (this is looking at the numbers and adjusted down a bit to account for sellers taking offers)

1/1 units - 17 listed, 5 rented, $115/nt avg rental

2/2 units - 100 listed, 55 rented, $170/nt avg rental

Bottom line confirms my gut. Not worth the extra hassle/expense. I think when people think let's rent a 'timeshare' or 'condo' they are thinking multiple bedrooms. This seems to be confirmed in the fact less than 1/3 of the 0/1 and 1/1 are rented and over half the 2/2's are rented.

 

[BocaBoy]

I also don't get what the 1/1.5's are? There's only one bathroom on each side. Are people calling it a 1.5 just because it has two entries? Or am I not aware some units have an additional half bath? The things desperate/greedy people will do/say.

Quite a few of the resorts have a separate area with a tub and a second sink outside of the main master bath. I think some people are calling that a half bath even though it really isn't.