[Rules for Renting Owned Weeks/Points v. Exchanges]

[Alesha]

This is really too broad of a question to answer - let's go about it this way:

What is your goal - are you trying to buy something for your own use, and an occasional rental, or start a rental business?

Rental Business

 

[DeniseM]

Rental Business

You should read this current thread: http://www.tugbbs.com/forums/showthread.php?t=241383

 

[JudyS]

I have heard that II keeps a very close eye on certain high-value weeks. II checks major rental sites (eBay, Redweek). If II had, say, an exchange available for a two-bedroom at a very high value resort for check-in July 23, and that same resort, unit size, and date shows up on eBay, they may call the exchanger on the phone and question them about it.

A Tugger once reported that he had a reservation at a very desirable resort he owned, and then was able to make an II exchange into the resort for the same dates. So, now that he had two reservations, he decided use the II exchange himself, and rent out his home resort reservation on eBay. II called him up, and he had to prove that he actually owned a week for the dates he had listed on eBay

II doesn't want you competing against them. They could very well be renting the same week on getaway. They also don't want people gobbling up all the prime weeks just to rent them out. It does happen, but if it happened more often, regular members just wanting to use an exchange would be raving mad.

This is another reason not to book a high-value exchange and then rent it. It is unfair to other II members, and makes them very angry.

Renting out exchanges also is unfair to owners at valuable resorts who pay big bucks in MFs and need to rent out their weeks. You would be undercutting their prices and ripping them off.

 

[taterhed]

I agree with you and II's general policy.

But I am talking about merely being able to recoup costs of a week that can't be used. Their is no business or competition from somebody selling their week at the same cost they paid for it. Nobody would do that in volume intentionally.

So I think if II finds somebody doing it, they should only take action if the rental is for profit...even $1 over cost.

I have never rented a week I traded for thru II. I just know that I did have to trade one when something came up last minute. The re-trade was a big downgrade from the original. I would have rather had a chance to just recoup my costs.

In effect it would be like renting your deeded week at a price just to cover your MF.

JMO.

So, then I could start a business, grabbing all those profitable last minute rentals...., and then sell them just for my 'cost' to recoup my rental fee (or $1 over). And, all you need to do to rent one my rentals is pay my non-fundable booking fee (30% of the cost of the rental for 'high-demand' locations) and then you can have the rental for just $1 over my costs. (plus 30% booking fee)

Sound fair?

You're dreaming. Owning a timeshare is risky-business. Use it or loose it. I think the Interval Exchange system is still pretty decent for flex trades. Clearly, the system is getting worse (XYZ, limited Marriott participation etc..) but it's still good for those that can use it. My studio became a week in Waiohai for pennies on the dollar.

Sadly, people will always find a way to cheat or exploit the system. Worldmark and Wyndham are classic examples. Frankly, I'd like to see Interval become as aggressive as possible on illegal renters. I'm not talking about renting your neighbor a week once in 5 years (I mean giving them one...wink wink). I'm talking about the TUG bulk sightings allegedly popping up on Ebay and Redweek within minutes of being posted.

Sorry if this rubs you the wrong way...I do get the gist of it. Besides....renting is frankly cheap-enough that people should think twice before buying or exchanging their unit. IMHO of course.

 

[tschwa2]

I think Alesha wants to know what systems (not exchange companies) allow you to book units from anywhere in that particular system and then rent them out regardless of where your contract or deed is within that system.

Wyndham- yes
Worldmark-yes
Marriott (destination points)- yes
Disney (DVC) yes
Bluegreen- yes
Vistana -formally Starwood (SVN) no- only home resort (or trust) during your season (if applicable)
Hilton-no- only home resort during your season
Holiday Inn- yes
DRI- yes
Hyatt ?


These are a few that I am familiar with. Even the ones that allow the renting may have or may institute in the future limits on the number or reservations as one resort or area at a time. Some have fees to add guests names. Most systems have language in place forbidding commercial use which generally is the basis these clubs use to add restrictions and/or fees on high volume reservations or guest certificates.

Vistana(Starwood) and Hilton both have the language that forbids rental of non home resort/week reservations but traditionally a decent # of folks have ignored these restrictions.

There are dozens of others but many are small systems and if they have less than 8-10 resorts, I didn't know if you would be interested in them.