Weeks to Points Upgrade

[svdpad]

Hello,

We have a deeded week at VV at Parkway for annual usage. At an owner's update they offer 92K points for 7K + closing.

Is it worth it? Advice great appreciated.

Thank you

 

[ronparise]

Hello,

We have a deeded week at VV at Parkway for annual usage. At an owner's update they offer 92K points for 7K + closing.

Is it worth it? Advice great appreciated.

Thank you

short answer is no

If you want to be involved in the rci points program you will get by a lot cheaper by giving your week away and buying a points contract on the secondary market

FYI, I own a week at Vacation Village and it works fine in the weeks side of RCI

 

[svdpad]

Thank you for quick response. Are the points that Vacation Village gives and points buying on secondary market the same?

What do you mean by giving away the week? Essentially what you are saying is give up the deeded week? And for that it has no cash value. Is that correct?

Also Is it OK if I rent out the RCI weeks?

Can I rent out Exchange weeks too? How do I do that?

Thank you

 

[theo]

Are the points that Vacation Village gives and points buying on secondary market the same?

RCI Points are identical (except in number) to any and all other RCI Points, wherever acquired and whether acquired through overpriced "upgrade" of a fixed week or by being acquired already attached to any week purchased in the secondary market. Similarly true for any and all other point systems as well (Hyatt, Wyndham, etc.).

Can I rent out Exchange weeks too? How do I do that?

Weeks acquired from RCI (or from II) via "exchange" cannot be rented out, as specifically stated in the terms and conditions of membership of both RCI and II.
That's not to say that people don't do so anyhow, but it is clearly prohibited and could be risky, potentially jeopardizing the would-be "landlord" exchange company membership (suspension or termination of membership), also potentially jeopardizing occupancy for the would-be fully paid "tenant", if discovered and turned away.

If you really want RCI Points, rather than "upgrade" your existing fixed week for far too much money ($7K is just obscene ), find and buy a resale week with RCI Points already attached --- at any facility where the points to maintenance fee ratio is reasonable; such weeks are regularly available on eBay for peanuts. In the end, "points are points", as already addressed. If you go that route, you can keep (or dump) your existing fixed week; that's a personal decision to be based in part upon whether you're willing to have two annual maintenance fee obligations instead of just one and how much you like and / or use your existing fixed week now.
You may want to have both --- I dunno.

 

[ronparise]

Thank you for quick response. Are the points that Vacation Village gives and points buying on secondary market the same?

What do you mean by giving away the week? Essentially what you are saying is give up the deeded week? And for that it has no cash value. Is that correct?

Also Is it OK if I rent out the RCI weeks?

Can I rent out Exchange weeks too? How do I do that?

Thank you

sell it if you want, or give it away, it makes no difference . Heres an example of a points contract that sold on ebay recently 86500 rci points for $20 plus $199 closing. Compare that to the $7000 at the resort

http://www.ebay.com/itm/86-500-RCI-...317851?hash=item1a14ee669b:g:MbgAAOxyIv5TldU-



and no you cant rent RCI exchanges.

and yes, to my knowledge, points are points, they all work the same. The difference from one resort to another is the maintenance fees you will pay. Conventional wisdom is that a penny a point is pretty good. so a Vacation Village at Park way week that give you over 90000 points for a $800 maintenance fee, is pretty good.

 

[svdpad]

Thank You

Thank you very much guys or gals for your guidance. I had actually paid them 7K. I just went today and cancelled the contract change. That was a lot of dough and your advise was timely.

Thanks again.

 

[theo]

Thank you very much guys or gals for your guidance. I had actually paid them 7K. I just went today and cancelled the contract change. That was a lot of dough and your advise was timely.

Thanks again.

Good job. It's usually not advisable to make a "personal appearance" to rescind (cancel) any type of timeshare purchase. Did you get any grief in doing so?
Did they provide you with any form of written confirmation of your cancellation? (rescissions are usually required to be submitted in writing).

 

[svdpad]

Cancellation

I went to the closing officer. She asked for a written letter. That simply said I would like to cancel the contract (new contract #). And I just said for financial reasons.

1 Guy stopped over to ask. I said, right now is not a good time for me due to financial reasons and he backed off. Then the closing officer came back and signed it herself, made a copy of the paper and gave it to me. They took all the paperwork I signed before.

So If I go and buy the points as per previous posts, does that give me a deeded week with points.

Does that add to my current RCI membership or do I have to create a new RCI membership for that?

 

[theo]

<snip> So If I go and buy the points as per previous posts, does that give me a deeded week with points?

Yes. RCI "Points weeks" still have an associated underlying recorded deed identifying a unit / week at the home resort.

Does that add to my current RCI membership or do I have to create a new RCI membership for that?

RCI Points and RCI Weeks are different flavors of RCI membership, so you would have to initiate a RCI Points membership if you buy a RCI Points-associated week, regardless of whether any such new RCI "Points week" is at your current resort (where you reportedly own a fixed week) or somewhere / anywhere else.