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timeshare renting
I have a timeshare with unlimited getaway weeks and would like to start renting it. I have been contacted by global resort management and just today my referral network. Has anyone had any luck with these two companies? I'm a timeshare newbie and like the talk that they talk but when it comes to getting the wallet out for a fee, I'm not so sure about it. My referral network wants what I have to pay up front to rent out the unit. If I rent for say 1,200 a week it costs me say 300 so I net 900. Is this how it works? I would appreciate anyone's comments to get me straight before I jump all in.
Tina M.
tinam215 wrote:I have a timeshare with unlimited getaway weeks and would like to start renting it. I have been contacted by global resort management and just today my referral network. Has anyone had any luck with these two companies? I'm a timeshare newbie and like the talk that they talk but when it comes to getting the wallet out for a fee, I'm not so sure about it. My referral network wants what I have to pay up front to rent out the unit. If I rent for say 1,200 a week it costs me say 300 so I net 900. Is this how it works? I would appreciate anyone's comments to get me straight before I jump all in.
Never, ever pay any company an upfront fee in the hundreds/thousands of dollars to sell or rent your timeshare .... all they want is your upfront fee, period, they're all scams.
R P.
In my experience, many of the companies that contact YOU can be scam companies that are simply looking for your money. There are legitimate companies out there, but like anything else, you have to do your research. Obviously the most important factor regarding whether you successfully rent your property is: Can the renters find your ad?? You have to think like a renter-- if you turn to the internet and search for the resort you are looking for, can you find the company easily online? Google and the other search engines will put the most legitimate companies on the first page of their search results typically. I have a timeshare with accelerated usage so I have a lot of weeks to rent out, and I did several months of research before determining which company to use. I used third party companies like alexa.com to see the companies that get the most web traffic-- the logic is, the more traffic they get, the more potential renters you will be able to find! I hope that this helps-- Its unfortunate that there are so many scam companies out there!! Out of the "good" companies, you have to determine how much of a "hands-on" approach you want to take. Self service companies like redweek, myresortnetwork, etc, can be useful to some people. I personally don't have as much knowledge/time to handle the entire rental process myself, so I chose to spend a bit more to have the company handle all of the details. This is obviously a personal choice depending on how much you wish to be involved in the rental process! Good Luck!!
I R.
I'd be curious to know how much you pay the third party company upfront to list your timeshare for rent? I've been reading timeshare forums for over ten years and I've never even heard of the company you mention that supposedly gets a lot of internet traffic.
R P.
The website I mentioned, alexa.com, is not the site for the company I used-- it is an independent company that deals with web traffic so you can see just how many people are coming to any website, (specifically a timeshare company you are considering using). I wasn't trying to promote a specific company, merely sharing the tools that I used to research the company that I decided to choose.
If you don't mind me being perfectly frank, I intentionally omitted the name of the company I chose. Understandably, it seems that a lot of people on this site have had negative experiences with timeshare resale/rental companies. It seems that these bad experiences have ultimately resulted in most of the forum members being very skeptical of anyone with a positive thing to share about a company. From reading through the forums, it seems that anyone with a positive experience gets immediately accused of being a "shill poster"-- I don't feel the need to defend myself for a simple choice I made, I would prefer just to share the TOOLS I used to make my decision, without promoting a specific company. Sound fair? I think these forums can be provide great education for those who are unfamiliar with the processes involved, and I am more than happy to share the steps I took when coming to my decision! :)
I R.
ir6 wrote:If you don't mind me being perfectly frank, I intentionally omitted the name of the company I chose. Understandably, it seems that a lot of people on this site have had negative experiences with timeshare resale/rental companies. It seems that these bad experiences have ultimately resulted in most of the forum members being very skeptical of anyone with a positive thing to share about a company. From reading through the forums, it seems that anyone with a positive experience gets immediately accused of being a "shill poster"-- I don't feel the need to defend myself for a simple choice I made, I would prefer just to share the TOOLS I used to make my decision, without promoting a specific company. Sound fair? I think these forums can be provide great education for those who are unfamiliar with the processes involved, and I am more than happy to share the steps I took when coming to my decision! :)
You are wise not to name the company you do business with as you may come across as a shill (as you stated).
We advise that if any company asks for an upfront fee in the hundreds/thousands of dollars that 99.9% are scams ... if there is a company that takes their commission after a sale or rental then we would recommend them .... I'm very glad that you're happy with the company you do business with but you didn't answer my question as to how much you pay them in advance .... btw, no timeshare can be guaranteed by any company that it will be rented or sold.
R P.
jayjay:
I agree that *in general*, most up front fee companies do not deliver as promised. I also agree that there is no guarantee for anyone, no matter how legitimate the company may be, to be successful in selling or renting. You can have the most popular property ever, priced dirt cheap, in front of 100,000 different people per day, and still not get it sold.
Your advice (to pay at the back end of the sale) is sound advice. I'd say that just as so many upfront fee companies are scams, 99.9% of the people that are in a desperate situation with their timeshares are likely candidates to be scammed. I paid a considerable amount for my membership with my current company. I chose to pay this money after months of research and analysis-- And even with all of this research, I might have still not chosen to pay this price if not for my sister-in-law's success with the same company. Its one thing to read a company's references, but when your reference is a family member that you've seen have success, it means a lot more!! She did a one-time rental with this company, and as she lives the next town over I was privy to the whole process every step of the way, and I gained respect for how this company did their business. I have a timeshare in Mexico with the option for accelerated usage, so in my case it made sense to purchase a rental package with this company that includes lifetime advertisement for unlimited rentals. After my second rental through this company, this advertisement paid for itself, and I have since rented my property for pure profit. This might not make sense for every timeshare owner-- Again, my experience is my own. I found the initial investment worth the initial "risk", and I was proven correct. This is not to say that there is ANY guarantee that everyone would be this successful!
To answer your question point blank, the lifetime membership (unlimited rentals) was $2k. I've read your posts, jayjay, and I can only imagine what your reaction to this will be! :) I know that most of the people on this site found themselves successful with Redweek, Myresortnetwork, ebay, craigslist, and other no-cost/low-cost options--and I applaud everyone that is able to make these services work for them! I personally don't have the extra time or energy to deal with handling the rental process myself-- I'm one of those people who has no problem paying extra for convenience! If all I do is have to pick up the phone, say yes or no to an offer, then get a check in the mail, than its money well spent. If I hadn't gotten any offers, well, it would have been an utter waste of money-- but I did the research necessary to determine how great of a risk it was, and I thankfully have had success.
PLEASE, don't take this as a judgment on Redweek or any other company--nor is it a judgment on the people who choose any of these companies! Again, I am merely sharing my experiences!
Best of luck to you all--
I R.
