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Wyndham Pt Rentals

ecwinch

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I have a friend that has a large number of Wyndham points (600k) that they need to find a way to rent out. For a variety of reasons they cannot use them. They have been talking to a broker (? Meridian) that is giving them the "we rent to corporate accounts" spiel to get them to sign up for their service.

Any suggestions on what they can do to recoup anything on their points? Has Wyndham restored allowing pt transfers to other owners?

If not, then obviously they could reserve and rent out some reservations. Or deposit the points with RCI. Anything else?

Also, they are talking about working with the Wyndham rental program? I am not familiar with it. Any insight?

Thanks
 
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Jya-Ning

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The transfer between owner was stopped at March 2009.

So they can only make reservation and rent it out, they will need to get Guest Certification. And if they make reservation at the same week, at 15 days, if both does not have GC, it will get canceled automatically with point forfeit. So if they make reservation at the same slot, before 15 days, if it does not get rented, they need to cancel it themselves even if there is someone show interest, so they don't loss the point.

Regular owner get 1 free GC, VIP get 3 free GC, Gold VIP get 10 free GC, Platinum get 15 per 1 M point.

The Wyndham's rent branch is ExtraHolidays. It will require around 40% of cut. and they claim it is first come first rent, but you don't know if any when it get rented or not until the trip day past and they complete their booking recording. If there is extra cost occur, you will have to pay it through your 50+%. And once you deposit to them, it can not be pull out without some hard work. But if they don't want to deal with the renter, it is not bad way to go, at least they get all the internet link exposure.

There are also some groups in http://forums.atozed.com that claim they will help you in rent. I have never deal with them, so no comment on it.

You should ask them to read how to rent in tug's rent sub-forum.

Jya-Ning
 

vacationhopeful

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Sounds also like another upfront fee company which vanishes after the credit card clears. "We rent to corporate accounts" ... HA, HA, HA. Wyndham works on the best vacation times are booked 13 months in advance. Race Weeks in Daytona, summer weeks in Myrtle Beach, XMAS/NYE and President's Day at Bonnet Creek - gone to owners with ARP.
Corporations live on next week planning time line - and why would they rent a condo with a kitchen?

Sorry they have that many points that they are NOT using ... they need a family member/family friend to become their vacation guide and manage this liability better.
 

ecwinch

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The transfer between owner was stopped at March 2009.

So they can only make reservation and rent it out, they will need to get Guest Certification. And if they make reservation at the same week, at 15 days, if both does not have GC, it will get canceled automatically with point forfeit. So if they make reservation at the same slot, before 15 days, if it does not get rented, they need to cancel it themselves even if there is someone show interest, so they don't loss the point.

Regular owner get 1 free GC, VIP get 3 free GC, Gold VIP get 10 free GC, Platinum get 15 per 1 M point.

The Wyndham's rent branch is ExtraHolidays. It will require around 40% of cut. and they claim it is first come first rent, but you don't know if any when it get rented or not until the trip day past and they complete their booking recording. If there is extra cost occur, you will have to pay it through your 50+%. And once you deposit to them, it can not be pull out without some hard work. But if they don't want to deal with the renter, it is not bad way to go, at least they get all the internet link exposure.

There are also some groups in http://forums.atozed.com that claim they will help you in rent. I have never deal with them, so no comment on it.

You should ask them to read how to rent in tug's rent sub-forum.

Jya-Ning

Jya-Ning,

Thanks for that insight on the Wyndham rentals. Yes, I have given her the links to both here and the Wyndham Owners forum.

I was pretty sure that the transfer rights had not been reinstated, but thought I would ask in case I missed something. Some whack-job on another forum was spouting off on how you still could it, that they had only put a bunch of limits on it.

Figured the experts like you would have the straight scoop. You are always so knowledgeable and helpful on stuff like this.

Thanks again!
 

Sandy VDH

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There are sections in the http://forums.atozed.com where you can list the points for rent. The owners will have to look for the week requested, if available book it and then arrange the rental with the requester. There is info on where to post these at the above site.

The rental rates range from $$4.5 to 6 per 1000 Wyndham points, plus fees, if applicable.
 

ssult

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Eric's friend, Sheryl here. I finally got to sign up and look around. I'm not saying it isn't there, but I didn't find a complete answer to this question. Most inquiries about brokers are concerning sellling and I'm renting.

I understand it doesn't sound kosher to pay someone up front to market for you, but Bay Tree Solutions gave me all the information to look them up on Dunn and Bradstreet, the local BBB, and their web site. She stated that the fees are for a wide base listing and to deal with all the replies to the add that aren't serious. She said if I list through a place like this bb that I would be inundated with companies replying plus have to deal with people who inquire but ultimately don't rent.

Do owners typically have to deal with many false replies? I am willing to pay to have someone filter potential buyers, but are there any brokers who work on commission besides Wynhdam itself?

Thanks,
Sheryl
 

BellaWyn

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Brokers

Do owners typically have to deal with many false replies? I am willing to pay to have someone filter potential buyers, but are there any brokers who work on commission besides Wyndham itself?
Sheryl: Welcome to TUG!:wave:
All brokers work on commissions, it's the nature of their business and it's not a bad thing. There are actually some credible brokers around but you have to look for them! The TUG posters above are just cautioning you to do your due diligence and be wary of excessive up front fees.

Renting is a challenging process but generally false replies are not the primary issue. Finding renters is the bigger challenge. TUG has some excellent information if you want to attempt it yourself. Following is a TUG thread that might help get you started. Even if you end up handing off your points rental to a third party this is worth the read.

Timeshare Resale and Rental Sites

If you feel more comfortable with handing the challenge over to a more experienced entity / person, Sandy gave you a good place to start with the Wyndham Owner's link above. There are several owners that are set up to work with you through a signed management agreement for a pre-determined number of points that are negotiated annually. These agreements allow the manager to do the rentals for you THROUGH your account (no points transferred). Understand that renting can never be a guaranteed process.

Personally, I'd trust another Wyndham owner over using Wyndham's Extra Holidays for two reasons:
1) EH will take your points with no guarantee for rental, rent at the lowest possible price and then take 40% off the top.
2) You'd be dealing with an individual and not a corporation.

JMHO.

Keep the questions coming! There are MANY experienced people here on TUG, even though posting can be a bit intimidating.
Cheers!:hi:
 

Jya-Ning

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I understand it doesn't sound kosher to pay someone up front to market for you, but Bay Tree Solutions gave me all the information to look them up on Dunn and Bradstreet, the local BBB, and their web site. She stated that the fees are for a wide base listing and to deal with all the replies to the add that aren't serious. She said if I list through a place like this bb that I would be inundated with companies replying plus have to deal with people who inquire but ultimately don't rent.

Look at their website, pretend you want to rent something, and check to see if you can find something you think is attractive to you. If so, what is the % there.

Then, there are several sites that tracking web traffic, you can compare it with some sites mentioned in the rental subforum http://www.tugbbs.com/forums/forumdisplay.php?f=13

You can compare those sites. (for example, http://www.alexa.com/siteinfo/redweek.com, than type baytreesolutions.com. to compare). That gives you some rough idea.

As to ad. if you pay $100 at front, and it has rent chance 100%, that is o.k.

If you put $100 at front, and it has rental chance 20% from that site, than 80% of chance you will loss $100. Not to mention your own week may have certain chance not get rented. $100 actually can allow you to put on local newspaper, and it may reach more people.

I think you need to add those into consideration.

Do owners typically have to deal with many false replies?

They are. Not as many as when you try to rent a house that require say 1 year lease those. People sometimes ask than disappear. You think they will handle those for you?, no they will not, you still need to response to these people.

There are scam, usually, with TS, as long as you say in advance, that you will not return any money if they send you more, it will reduce a lot.

There are ad company like these that will send to you ask you to pay them in front because they have lead, but if you insist on getting paid first, they will run away.

Read on the rental subform to make sure you feel comfortable. You may be able to handle 10 queries, maybe only want to deal with 2. I usually get 4 to 5 inqueries the most. I'd be really happy if there are more than 50 people ask.

I am willing to pay to have someone filter potential buyers, but are there any brokers who work on commission besides Wynhdam itself?

The one on atozed I believe is worked different but is not up-front fee companies. You do need to open your account to him though. But I never use him before, so can not comment on that. I would suggest you try at least once or twice yourselves.

Jya-Ning
 

ssult

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Thanks

Thank you Caite and Jya-Ning. I've got a lot of reading and researching still to do :eek: but everyone has given great information.

Thanks to everyone else for your help too. I can see why Eric highly recommended this site!

Sheryl
 
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