CLOSED: Thread Dedicated to the Upcoming/Anticipated Integration of Vistana & Marriott Ownerships (Marriott Link + Vistana Discussion)

[samcar1]

I’ve rented in redweek. I’m just looking for other places to advertise.

 

[DavidnRobin]

I’ve rented in redweek. I’m just looking for other places to advertise.

Sorry. Only rent on RedWeek (since 2008?)
I have excellent success with them for our extra weeks, but only have 2-3 depending if we use the SOs for exchanging (Maui).
Already rented 2023 usage.

TUG has a rental page. Never worked for me.

Price fairly (true FMV)
Describe correctly - many don’t.

I use RedWeek verify services now because it gives the person renting more confidence. IMO YMMV


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[samcar1]

Sorry. Only rent on RedWeek (since 2008?)
I have excellent success with them for our extra weeks, but only have 2-3 depending if we use the SOs for exchanging (Maui).
Already rented 2023 usage.

TUG has a rental page. Never worked for me.

Price fairly (true FMV)
Describe correctly - many don’t.

I use RedWeek verify services now because it gives the person renting more confidence. IMO YMMV


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yes it’s worked for me. I’ll just wait and post on tug too. Thank you

 

[dioxide45]

I’ve rented in redweek. I’m just looking for other places to advertise.

Some others use Airbnb or Go-Koala. They charge nothing upfront but take a higher commission on the back end. THe good thing there is that if it doesn't rent, you aren't out any money like you would be on a listing fee with Redweek.

 

[EnglishmanAbroad]

Did Redweek just change their policy on reporting rental income to the IRS? They said it was down to a recent change in the thresholds allowed. Due to the language barrier between our two nations I'll claim not to understand it all if the IRS comes after me for past years

 

[VacationForever]

IRS requires all these vendors, Redweek, Paypal, etc to report amount exceeding $600 over a calendar year. I don't know what you meant by Redweek changing their policy.

 

[tamu_bu]

Basic MVC Points question from one who only owns Vistana. If I elect to convert to VC points am I required to reserve days as they are defined in their chart. For example (Frenchman's Reef attached) do I have to reserve a full week, Fri-Sat, or Sun-Thu? Or can I reserve day a 6 day Sun-Fri at the full week total less the Sat. points?

 

[dioxide45]

Basic MVC Points question from one who only owns Vistana. If I elect to convert to VC points am I required to reserve days as they are defined in their chart. For example (Frenchman's Reef attached) do I have to reserve a full week, Fri-Sat, or Sun-Thu? Or can I reserve day a 6 day Sun-Fri at the full week total less the Sat. points?

YOu can reserve as many or as few nights as you want based on the nightly points rate provided in the chart.

 

[kozykritter]

Did Redweek just change their policy on reporting rental income to the IRS? They said it was down to a recent change in the thresholds allowed. Due to the language barrier between our two nations I'll claim not to understand it all if the IRS comes after me for past years

The change primarily has to do with digital wallet transactions or basically cash apps. There was always a $600 threshold requirement for rental income reporting. However none of the cash apps had this requirement because the digital wallet reporting threshold was $20,000 a year for any type of income. Bear in mind you are meant to report on your tax return any amount of income, of course, regardless of whether it was reported on a 1099 or not. Here's part of an article to explain the threshold change...

"Beginning in 2022, the IRS will start checking digital wallet business transactions over $600. New federal tax laws are designed to make it more difficult for small business owners and self-employed people to avoid paying taxes. If you receive over $600 in income this year on Venmo, Zelle, or PayPal, you will receive a Form 1099-K that you must fill out and file with your taxes next year.

The new changes in how cash app business transactions are reported are included in the American Rescue Plan Act, signed into law by Congress in 2021. Reporting guidelines for digital wallets and other third-party payment processors have now dropped to just $600 in aggregate payments."

Redweek likely uses a third-party payment processor hence the change.

 

[EnglishmanAbroad]

The change primarily has to do with digital wallet transactions or basically cash apps. There was always a $600 threshold requirement for rental income reporting. However none of the cash apps had this requirement because the digital wallet reporting threshold was $20,000 a year for any type of income. Bear in mind you owe tax on any amount of income, of course, regardless of whether it was reported on a 1099 or not. Here's part of an article to explain the threshold change...

"Beginning in 2022, the IRS will start checking digital wallet business transactions over $600. New federal tax laws are designed to make it more difficult for small business owners and self-employed people to avoid paying taxes. If you receive over $600 in income this year on Venmo, Zelle, or PayPal, you will receive a Form 1099-K that you must fill out and file with your taxes next year.

The new changes in how cash app business transactions are reported are included in the American Rescue Plan Act, signed into law by Congress in 2021. Reporting guidelines for digital wallets and other third-party payment processors have now dropped to just $600 in aggregate payments."

Redweek likely uses a third-party payment processor hence the change.

So will the same apply if you rent your DC points at 0.68c/point? Does that result in a cash transaction that is taxable?

 

[kozykritter]

So will the same apply if you rent your DC points at 0.68c/point? Does that result in a cash transaction that is taxable?

It depends if you turn a profit. You'll have to consult a tax professional for official tax advice.

 

[kozykritter]

Basic MVC Points question from one who only owns Vistana. If I elect to convert to VC points am I required to reserve days as they are defined in their chart. For example (Frenchman's Reef attached) do I have to reserve a full week, Fri-Sat, or Sun-Thu? Or can I reserve day a 6 day Sun-Fri at the full week total less the Sat. points?

Points reservations can be made starting any day of the week for any length of time up to a maximum number of days per reservation (14?). Charts have to start with some day of the week so Marriott chooses Friday for all of their points charts. It's not significant or impactful for making a check-in date.

 

[daviator]

"Beginning in 2022, the IRS will start checking digital wallet business transactions over $600. New federal tax laws are designed to make it more difficult for small business owners and self-employed people to avoid paying taxes. If you receive over $600 in income this year on Venmo, Zelle, or PayPal, you will receive a Form 1099-K that you must fill out and file with your taxes next year.

All true, except that it’s my understanding that Zelle transfers do NOT fall under the new regulation and that Zelle will not be issuing 1099-K forms to anyone. They have statements to this effect on their website.

 

[samcar1]

If I have for instance, 100k options, I can rent them ???
How??

 

[DanCali]

If I have for instance, 100k options, I can rent them ???
How??

Staroptions cannot be directly transferred to another owner”s account. There is no mechanism to do that.

DC/Abound points (that have not been banked or transferred already) can be transferred to another owners account via a call to Owner Services.


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[KS2beach]

Where on the website do you see your elite status?

same, I Have never seen our status level -hahaha guessing we are to low.

 

[Mowogo]

Abound just became real, and the VSN will now only shrink. Vistana properties have been added to the Marriott trust

Recorded Trust Documents

It's Official - Marriott adding Sheraton & Westin weeks to the MVC Trust! I haven't looked at them all, but Marriott made a big conveyance on August 15th to the MVC Trust. @GregT Westin Mission Hills Sheraton Vistana Villages - St Augustine Westin Princeville

tugbbs.com

 

[daviator]

Abound just became real, and the VSN will now only shrink. Vistana properties have been added to the Marriott trust

Recorded Trust Documents

It's Official - Marriott adding Sheraton & Westin weeks to the MVC Trust! I haven't looked at them all, but Marriott made a big conveyance on August 15th to the MVC Trust. @GregT Westin Mission Hills Sheraton Vistana Villages - St Augustine Westin Princeville

tugbbs.com

Don't oversell the "VSN will shrink" line. While that's likely to be true, it is also true that for every Vistana VOI that's conveyed to the Marriott trust, there will be one fewer VOI in competition to reserve within VSN. Unless VSN became very small, which is pretty unlikely and would require tens or even hundreds of thousands of VOI owners to convey their weeks back to MVC, VSN members are unlikely to notice any difference.

A more likely possibility would be if so many VSN owners routinely elect to convert to Abound points every year that the VSN inventory shrunk a lot. But I think even that is unlikely, as most owners will see a lot more value by sticking to VSN except when they have a specific desire to travel to MVC properties.

 

[TravelTime]

To vacation for free

I vacation for free all the time. I just make my money outside of renting timeshares!

 

[byeloe]

I vacation for free all the time. I just make my money outside of renting timeshares!

fair enough
I make money other places as well, but I work a lot harder for that. Renting is an easy way to subsidize vacations that I would otherwise not be able to take

 

[jabberwocky]

Don't oversell the "VSN will shrink" line. While that's likely to be true, it is also true that for every Vistana VOI that's conveyed to the Marriott trust, there will be one fewer VOI in competition to reserve within VSN. Unless VSN became very small, which is pretty unlikely and would require tens or even hundreds of thousands of VOI owners to convey their weeks back to MVC, VSN members are unlikely to notice any difference.

A more likely possibility would be if so many VSN owners routinely elect to convert to Abound points every year that the VSN inventory shrunk a lot. But I think even that is unlikely, as most owners will see a lot more value by sticking to VSN except when they have a specific desire to travel to MVC properties.

Remember that mandatory resorts have to be part of VSN - so I imagine that even if the MVC trust is the owner they would have SO values attached.

That said, I’m not sure how many of those weeks would make it to the 8 month mark. I imagine MVC will manage the inventory pretty well.

 

[Eric B]

Remember that mandatory resorts have to be part of VSN - so I imagine that even if the MVC trust is the owner they would have SO values attached.

That said, I’m not sure how many of those weeks would make it to the 8 month mark. I imagine MVC will manage the inventory pretty well.

If you think about it, the voluntary resorts added to the MVC trust are being acquired from the developer and can also have SO values attached and can probably be made available to the VSN despite being owned by the trust. MVC will have a lot of flexibility to manage the inventory as desired following their obligations to both the VSN and Abound.

 

[jabberwocky]

If you think about it, the voluntary resorts added to the MVC trust are being acquired from the developer and can also have SO values attached and can probably be made available to the VSN despite being owned by the trust. MVC will have a lot of flexibility to manage the inventory as desired following their obligations to both the VSN and Abound.

True. I never thought about it that way.

I wonder if the trust would try picking up Maui inventory via SO from their owned voluntary deeds at 8 months and then trying to make available at the higher Abound owners pricing?

 

[dioxide45]

Something else to chew on. Looks to be the master agreement that brings it all together.

 

[daviator]

Something else to chew on. Looks to be the master agreement that brings it all together.

Nice find. Too bad there's no detail as to the specifics of the agreement... what is recorded is pretty vague, all the resorts and owner's associations agree that they want to be part of MVC's multi-resort scheme. But it's interesting to see that it was just filed a couple of days ago.