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What's the best way to calculate a price for renting your Marriott?

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Do you look up the rack rate and offer your unit at a certain percentage of that rack rate?
Or do you take a certain percentage of your annual maintenance fee? Or is there a better way altogether?

Also, where are he best places to list the Marriott unit you wish to rent?

I've never rented a Marriott before but I'd like to be successful if i do. In other words, I'd like to be able to determine a price that would be fair and beneficial for both me and the buyer.

Thanks so much for any help or opinions you can offer!

Best wishes,
Dave
 
When I rent on Ebay my reserve price is usually my MF + 50%. With lockoffs, I estimate the reserve price based on how much space each part takes up on the whole. You often see very unrealistic rental (and sale) prices on Ebay - everyone wants to find that one in a million buyer who will pay anything I guess, but never seems to be around when you want him. Buyers on Ebay want a deal ... while I always start the auction at a ridiculously low price to increase activity, I would never rent or sell a TS on Ebay without a reserve price or it could go for $100 and end up costing you money.

Brian
 
Dave,

I take a bit of a different approach. I research what rents comparable properties in the area are commanding and also contact a real estate agent in the area. I have rented successfully through an agent (paying a 10% commission) and advertising on MyResortNetwork.com and Craigs List.

I don't advertise on ebay or TUG because most of the people who search there are looking for a bargain, and I'm not really interested in assuming the inherent risk of renting if it's at a bargain rate. I have a standard rental contract that I use when renting without the benefit of an agent.
 
Not sure if you are renting your unit at Ocean Club but FWIW we successfully rented our Surf Club Oceanside Studio for $1500 during Fourth of July week this year. I was very happy and this came to roughly 150% of maintenance fees! I did consult the Marriott.com website to check nightly rates but in the end the price I requested was comparable to other listings I saw on Redweek.

By the way we advertised the week in Redweek and got a bite within a month of listing.
 
What I like about EBAY is that, when an auction is won, they pay on Paypal - I give them the option of paying 50% before confirmation with balance after OR paying all up front. Over the years, all but one paid up front, no questions asked. The sale is done btw in 7 days on Ebay so you don't have to wait and wait for action or results. And if it doesn't go you can run the ad again for a lesser amount until you get your reserve.

Only once did I not rent a week on Ebay, but I left it too late and, when it didn't go the first week, I decided to turn it in to Interval within their time limit for an AC and deposit.

Brian

For what it's worth, here's an unsolicited email I got last week from an Ebay customer that rented my studio at Manor Club Sequel for the July 4 week. Just about every time I've rented on Ebay I received a similar thanks back:

Brian,
I won an e-bay auction off of you for Williamsburg, VA. over the 4th of July (not sure if you remember or not). I just wanted to let you know that my wife and myself have had probably about the best time on vacation that we ever had. I would like to keep in contact with you either by phone or e-mail and try to rent this off of you at least one week a year if possible. Not necessarily over the 4th every year. I could easily spend one week here every year with how much there is to do. Your place here is very nice with all of the added benefits of the golfing, tennis, spa, and so on. I just wanted to send you this e-mail to let you know how much we have enjoyed ourselves this stay and thank you, because if you never would have listed this, we never would have thought of coming. So, thanks again for the wonderful experience, and please let me know if this will be available again.
 
We're Marriott renters......
My favorite sites are Redweek, MyResortNetwork, Tug & EBay. I always compare and look for the best price within a time period (i.e. July at Hilton Head). I've rented from all of these sources. We always pay 100% upfront. I've paid by personal check, cashiers check & paypal. We've never used a contract - thankfully I guess everyone's been lucky (us and the owners).

I would price compare for your time period at the resort or similar resorts (i.e. how much are most people asking for a July week at Grande Ocean?). It would also matter how far in advance you're advertising (6 months or 6 weeks) & how badly you need to rent (do you have other options...are you willing to do a last minute banking of the week or give it to friends).

I get good deals - but I'm flexible, I know what I want, and I spend lots of time looking. Actually, I've found fellow Tuggers generous...rather than sacrafice a week or redeposit weeks they probably won't use - they'll offer a week to cover their maintenance fees and I think we all feel "safer" renting to someone we've "talked" with and others may "know" here at TUG.
 
renting timeshares.

I have been renting over 12 years and my starting point is I take the sale price of my timeshare and multiply it by 09% I then add my MF and any advertising cost and that is my base price. If the market can bare more than that, which most of them can I raise it to the price it will bear.NOTE: IF YOU BOUGHT FROM THE DEVELOPER your base price will be to high) If I can not get at least a 9% return I do not rent or do I buy that resort.

Note: Make sure you add about 5% to your MF because Marriott has increase their MF over double digit the last 2 years and if you do not account for that that decreases your profit.

I use a rental agreement, I like to have things in writing to make sure there is no confusion.

What is also important is try to get the best view you possibly can for your renters. So that way you can get repeat business.

I hope that helps.
 
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Manor Club's annual MF is about $850 (after a huge increase last year) for a platinum 'original' or 'sequel lockoff' section. I rented the July 4 week Sequel studio for $700 this year and the 1 bdrm portion for $800 for the previous week, both on Ebay ... almost double what my MF was. They were July 4th weeks. Both rented on Ebay in 7 days and paid in full on Paypal. At the same time, other owners were trying to make a killing on Ebay ... one even asked $10,000 for the week - imagine - it didn't rent.

As far as Williamsburg being overbuilt, there is only one Manor Club - visit the other TS in the area and I think you'll see there's nothing else like it. So the 'competition' from other TS's is non-existent IMO. Manor Club always rents easily for more than the MF, includes golf, and the renters love the place and whole area as you can see from this email I received from one of my Ebay renters (in the studio):

Brian,
I won an e-bay auction off of you for Williamsburg, VA. over the 4th of July (not sure if you remember or not). I just wanted to let you know that my wife and myself have had probably about the best time on vacation that we ever had. I would like to keep in contact with you either by phone or e-mail and try to rent this off of you at least one week a year if possible. Not necessarily over the 4th every year. I could easily spend one week here every year with how much there is to do. Your place here is very nice with all of the added benefits of the golfing, tennis, spa, and so on. I just wanted to send you this e-mail to let you know how much we have enjoyed ourselves this stay and thank you, because if you never would have listed this, we never would have thought of coming. So, thanks again for the wonderful experience, and please let me know if this will be available again.

I own 3 weeks at Manor Club and always trade 1 for points and book the other 2 for July 4 weeks with the intent of renting one if I'm sure I won't be using both. In most cases it's a little more difficult to get the $1500 I got for the 2 Sequel parts than for the 'original' 2 bdrm suites, but $1300 is easy. But, without exception, the renters love it and want to come back simply because there's not enough time to do everything available in the area.

You may be able to get more for an 'on the beach' location but the annual MF is higher. My experience is that BeachPlace rentals don't make any more money for me than Manor Club as we're talking more affordable cost for renters. I'm surprised how many owners get greedy when it comes to renting, rather than settling for a reasonable rent and being successful.

Brian
 
Renting on Ebay

I've rented a couple of my weeks on Ebay but I take a different approach. I never have used a reserve price because I think that discourages people from bidding but I set a minimum price that is at a level that I would accept. Also, I almost always do a 7 day listing so it will get as much exposure as possible.
 
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