Tips on Renting Out Timeshare

Jennie has done the right thing by buying where she likes to go and renting out years she doesn't want to return. Yes, she could deposit the weeks in an exchange company, but as Jennie said there's slim pickins these days in really good trades. If you're looking for a very popular resort/destination/time you have to begin the process of searching a year (or two) in advance.

When we bought timeshares we bought where we liked to go and we received some very good trades with the exchange companies, but it's a different story these days from what I've been reading lately.

Timesharing and exchanging has changed dramatically in the last several years with the introduction of points and exchanging timeshares for cruises and other types of exchanges entering the timesharing picture. We bought before points entered that picture. It was strictly a week for week exchange then.

Even though we never rented out any of our weeks, I applaud Jennie for buying where she likes to go and where she has no trouble renting on years they decide not to return.

There is no way I would buy a timeshare just to rent with all the hassles and time it would involve and with the uncertainty if you could even rent it at all. It's just not worth it in my opinion.

Jayjay If you have never rented out any of your weeks, what are you doing surfing this website. You claim you do not work for any of the exchange companies or do you own redweek.

jayjay wrote:

Jennie has done the right thing by buying where she likes to go and renting out years she doesn't want to return. Yes, she could deposit the weeks in an exchange company, but as Jennie said there's slim pickins these days in really good trades. If you're looking for a very popular resort/destination/time you have to begin the process of searching a year (or two) in advance.

When we bought timeshares we bought where we liked to go and we received some very good trades with the exchange companies, but it's a different story these days from what I've been reading lately.

Timesharing and exchanging has changed dramatically in the last several years with the introduction of points and exchanging timeshares for cruises and other types of exchanges entering the timesharing picture. We bought before points entered that picture. It was strictly a week for week exchange then.

Even though we never rented out any of our weeks, I applaud Jennie for buying where she likes to go and where she has no trouble renting on years they decide not to return.

There is no way I would buy a timeshare just to rent with all the hassles and time it would involve and with the uncertainty if you could even rent it at all. It's just not worth it in my opinion.

Do I own Redweek? ..... I WISH !!! :o)

And no, I do not work for an exchange company.... if I worked for an exchange company I wouldn't have the negative view that I have expressed here many times concerning the many price hikes (hikes in exchange company membership fees, hikes in exchange fees, hikes in guest certificate fees .... hikes here, hikes there in the last several years not to speak of hikes in resort maintenance fees. Timesharing was formerly an economical way to travel (especially if you bought weeks resale at a good price).

I merely have a lot of experience in the world of timesharing having owned several timeshare weeks.

Concerning my kudos to Jennie for the way she rents some of her unused weeks ... if I ever rented out any of our unused weeks I would do the same thing Jennie did. She bought weeks where she likes to go AND they are evidently in popular locations since she has no trouble renting them. That was my point.

omolarad wrote:

Jayjay If you have never rented out any of your weeks, what are you doing surfing this website. You claim you do not work for any of the exchange companies or do you own redweek.

daddyd wrote:

Wow, phill12, you certainly describe the unhappy owner scenario! Could U explain a little more about your bad experience trying to exchange to Hawaii thru II? I understand that the supply side of the equation, especially in Maui, is very low, and the demand very, very high, especially for red season, beach front units. Could it be that was the cause of your problem? By contrast, I see many units offered for rent right here on redweek for 2007, some for $100.00/nite, for 7 nites, which I personally favor at a minimum, cause I hate packing and unpacking. Did you also consider the "get-away" feature on II? My neighbor just booked a 1 week get away thru II to some resort in Hawaii that I have seen advertised right here on redweek for $599.00. It's a Studio Unit, sure, and probably little or no view, but a great price for a Maui location, in Ka'anapali or nearby, and he booked it for the 1st full week of January 2007. Hope you post back with your experience. I'll let U know how my neighbor makes out. Wish I could go with him! LOL! Happy Holidays!

Bingo!! "$100 per night for 7 nights!" That's me! My wife and I enjoy planning our annual trips to Las Vegas and we always try to stay at Grand Resort. While we sometimes get comped for our hotel room at a casino ... we would much rather stay at Grand Resort for $100 per night as a rental guest than as an owner. If our rental helps someone who is an owner to pay his/her MFees beacause they couldn't use all their points that year ... or because the deed was passed onto an heir who couldn't use the unit ... or because of illness ... at least the renter is paying the annual Mfee for them until the owner IS ABLE to use his timeshare in future years.

I love RedWeek.com and the $10 annual subscription fee is peanuts. I lose that (and more) on one spin of the roulette wheel.

Hey archie14! Place a bet for me, would ya? #17, on the black, for the full $599.00! That's actually less than $100.00 a nite, as you suggested. My neighbor reports seeing numerous mama and baby whales breeching or something all the time from his porch beachview view, and, like me when I was there, spent very little time other than early morning and sunset, in his room. He and his wife cannot thank me enough for getting them linked up with the dude who rented the condo unit to them so reasonably. They loved Maui so much that they want to go with us again next year. Hmmm, maybe they will rent from me? Anyway, a success story to report on the value of RedWeek.com. And, by the way, I have listed my Christmas Week at the Sheraton Vistana for rent or for exchange, so spread the word. A great vacation to be had at a great resort next door to a Magic Kingdom for Christmas! Hurry!

Actually daddyd; I like to split #17 & #20, my favorite numbers...

It must be tough to rent timeshares in a casino town due to all the hotel discounts that are available to even no-rollers or low-rollers like myself.

Jennie,

In your experience, had any renters ever changed their mind not renting, when they were asked to sign a rental agreement, or leave a deposits, or were told that they will be responsible for the damages if they or their guests damaged the rental unit. I am new at this, this is all very stressful! What have I got myself into owning a timeshare to start with. And at which point during the rental processes, that you ask the renters to sign the rental agreement.

Thanks for you help!

Soonn

jennie phill12 jennie Timesharing Today Magazine sells a rental and also a sale kit at a very reasonable price. --------------------------------------------------------------------------- Jennie I'm not a lawyer so until something goes wrong I wonder just how much these forms would work.

I really doubt most people renting a timeshare for a week are going to hand over their credit card number to a owner.

archie14 wrote:

It must be tough to rent timeshares in a casino town due to all the hotel discounts that are available to even no-rollers or low-rollers like myself.

Archie we own in Lake Tahoe and 15 min to casino's and 1 hour to Reno and your right for people going up for couple days to gamble and get rooms comped! We go up to Reno or Tahoe few times a year because a friend retired and bought home east of Reno.

We get rooms comped and our friends get rooms to and this is great for short period.

Families spending a week in Lake Tahoe want the space and the kitchens and play area,pools/spa.

We have also taken bonus time at our timeshare in Tahoe for two/three nights just to get away.

Casino hotels are no place to have your kids for a week.

Most gamblers going to Reno or Lake Tahoe are going up to gamble and enjoy short getaway and for this a hotel is great but not a family for seven day vacations.

PHILL12

soonn Jennie,

In your experience, had any renters ever changed their mind not renting, when they were asked to sign a rental agreement, or leave a deposits, or were told that they will be responsible for the damages if they or their guests damaged the rental unit. I am new at this, this is all very stressful! What have I got myself into owning a timeshare to start with. And at which point during the rental processes, that you ask the renters to sign the rental agreement.

Thanks for you help! Soonn ------------------------------------------------------------------------------------------------------------------------------------ Hi Soonn,

In my experience, people are very happy when I discuss the rental forms. Don't forget, it gives them protection too. Many first time renters are nervous about renting a week from a total stranger over the Internet. They wonder how they can be sure that I actually own, and have the right to rent, what I have advertised. They can envision a scenario where they have bought expensive airline tickets, rented a car, and show up at a resort, only to be told that the unit is not available for them.

It helps when you speak with them by phone and they realize they are dealing with a "normal" decent person. I let them know that hubby and I are seniors who have owned our home for over 20 years. We had responsible jobs, have grown children, etc...

Obviously I don't start out reciting all these facts. But as we converse about the unit, the conversation gradually drifts into more personal areas. They want to know that we are honest and reliable and I want to feel that they are mature responsible people who will pay on time and not do any damage to the unit. If someone balks about signing a rental agreement and sending a deposit check, then I wouldn't want to do business with them.

One time a person with an Email address of "richbuns" at xxx.com requested more information about a unit we had for rent at a Cancun resort during the "Spring break" season. Fearing that I might be dealing with a group of wild "party animals" which would not be tolerated at our resort, I was tempted to respond that the unit was no longer available. Instead, I asked who would be using the unit, and I explained that it is a sedate resort with a lot of older owners. The person responded that that was exactly what he and his wife were looking for, as they were in their 60's and appreciated a quiet place. When we subsequently spoke by phone, I commented on his unusual Email "name." He told me that he owned several franchise stores of a major company that sells buns and it had made him "rich." Along with the signed lease contract and deposit check, he sent me a bunch of free coupons to use at any of the chain's nationwide locations. Hubby and I enjoyed the unexpected treat during several visits to a mall near our home. Yummy!

Well getting back to your question, I tell potential renters that we own many (too many) timeshares and have rented a few each year for several years. This instills a sense of confidence that we are experienced and competent about doing rentals. I offer to give them the names and phone numbers of people who have rented from us. No one has actually taken us up on this offer, but I do have several satisfied "customers" who would be glad to vouch for us.

If they state that they want to rent our unit, I "fill in the blanks" on the rental lease form and send it by fax, Email attachment, or regular mail--whatever they wish. They then sign the lease and send it back to me with a check for 50% of the rental price. Or in some cases, they send the payment through PayPal.

The lease specifies that the deposit is non-refundable, and that the balance is due 30 days before the check-in date. I personally choose to tell them that if a genuine emergency arises on their end, and they cannot go through with their rental plans, I am willing to re-advertise the week and send them a refund of their deposit if I am able to find another family to rent our unit. Most owners do not make an offer like this, but I like to be "a nice guy." So far, no one has taken me up on this offer. And no one has ever caused any damage or other problems while vacationing at our units. Many have sent lovely notes or Emails after returning.Some have rented from us again or referred family or friends. We even get holiday cards from people who rented from us.

Keep in mind that a timeshare vacation is usually a very special experience for people who have previously stayed in cramped hotel rooms. They consider it a real bargain and a treat. Most people are very nervous when they are considering their first rental of a timeshare. But after all goes well, they come back to Redweek for more vacation opportunities and are usually quite comfortable with whatever process you specify, so long as they can feel confident that they will be getting what they have paid for.

There are more great rental tips in other postings in the various Redweek forums.

If you are too nervous to handle the rental yourself, consider using the excellent escrow service that Redweek has available. The only downside is that it costs $100. which is generally shared 50/50 with the renter. And you do not receive any money until after the renter has completed their stay in your unit.

Good luck. Give it a try. You have nothing to lose (except for the low ad fee). Or perhaps you would want to try the new FREE exchange feature Redweek is promoting. For details go to: http://www.redweek.com/articles/free-exchange-promotion

In case you are wondering if I have any employment or financial connection to Redweek, the answer is a big NO. I live in New York. they are in Seattle. I am just a very satisfied member. It was very difficult and expensive for owners to rent out their weeks before Redweek came along.

jennie

soonn wrote:

Jennie,

In your experience, had any renters ever changed their mind not renting, when they were asked to sign a rental agreement, or leave a deposits. ------------------------------------------------------------- Hi Soonn,

In my experience, people are very happy when I discuss the rental forms. Don't forget, it gives them protection too.

Jennie, Thank you so much for info.

Jennie, Phil, and Jayjay,

I want to say that you three are angels over here at Redweek.com. Yous posts have help me understanc timesharings. I wished I read your posts before I bought my timeshares.

I have downloaded a rental agreement form from a website, I would appreciate if one of you would help going over it for me and some of the new timeshare owners who may need it. If one or you can tell me if it covers every things and it is good.

My email address is ssng000@yahoo.com if you could contact me, so I can send the rental agreement to you guys for review.

Thanks for your helps!

Soonn

From what I've read here Jennie has the most experience renting out her timeshares on years she doesn't use them .... she's the timeshare renting expert as far as I'm concerned. Hopefully she will come along shortly to help you.

BTW, thank you for the complement :o).

soonn wrote:

Jennie, Phil, and Jayjay,

I want to say that you three are angels over here at Redweek.com. Yous posts have help me understanc timesharings. I wished I read your posts before I bought my timeshares.

I have downloaded a rental agreement form from a website, I would appreciate if one of you would help going over it for me and some of the new timeshare owners who may need it. If one or you can tell me if it covers every things and it is good.

My email address is ssng000@yahoo.com if you could contact me, so I can send the rental agreement to you guys for review.

Thanks for your helps!

Soonn

Jennie , It may not be the only reason but of coarse your renting to make a profit! I would hope your not renting to lose money!

All the owners trying to rent though who belong to a exchange company like II or RCI are causing a shortage in exchanging!

At some point this is going to cause a problem to all owners who bought to make exchanges most years!

PHILL12

Phil I'm not Jennie, but an owner of a timeshare week has all the rights in the world to rent or do whatever they wish with that week. Thousands of timeshare owners don't even belong to an exchange company and it's certainly not mandatory to.

Many people use their units every year and when they can't they rent them, and that also goes for those that belong to exchange companies. No one can force an owner to deposit their weeks if they prefer not to ... that is IF they belong to an exchange company at all.

You own a deed to that week, it's yours to do with as you wish and that has nothing to do exchanging or any exchange company.

The shortage of good weeks is due to RCI renting weeks to the public and via travel outlets. Those weeks have been exchanged for cruises, airline tickets, car rentals and a host of other travel related items.

jennie wrote:

This is not about you but everyone that rents or try, it is hurting trading. With small amount of top timeshares banked people can't get fair trade. Renting is causing this shortage.

People are going through a lot of wheeling and dealing to do what the trading companies would do for us owners if they had the units banked in their system.

This trading is never going to get fixed unless some how they put a stop to owners renting their units.This whole timeshare system is setup on owner banking their unit and getting someone else's unit in trade.

PHIL and this is IMHO

Phil I'm not Jennie, but an owner of a timeshare week has all the rights in the world to rent their owned week. Thousands of timeshare owners don't even belong to an exchange comapny. It's not mandatory to belong to an exchange company when buying a timeshare. Many people use their units every year or rent them.

You own a deed to that week, it's yours to do with what you wish and that has nothing to do exchanging.

I never said Jennie didn't have a right to do what ever!

I stated she is renting to make profit because no one in their right mind rents to lose money just like thousands of other owners!

But it is a fact with all the owners trying to rent their units that do belong to a exchange II or Rci does cause a shortage in the exchange pools.

Jayjay sometimes you seem to just want to argue a point for what ever reason when it is not needed!

PHILL12

phill12 wrote:

I wouldn't think many people bought a unit just to rent and now renting seems to be the new game in timesharing and it is hurting trading companies!

I agree that buying just to rent is foolhardy in timesharing, but I would think the number of people doing this would be minimal in the entire scheme.

Other than the two 1000 pound gorilla exchange companies (RCI and II) renting weeks or taking weeks in trade for cruises, airline tickets and such, I can't imagine why people aren't getting the trades they formerly did. Many people blame it on the points system raiding the weeks system at RCI, however II has no point system.

Also, since many people aren't getting the trades they formerly did, they are probably not depositing their weeks at all. They are either using them or renting them.

When we owned several weeks all of those weeks were off-season (we don't care to travel in hot weather and with the crowds that do so). We never had any problem getting any trade we wanted with either RCI or II, however on trades that we knew would be hard to get (re: southern Calif., Sedona, Las Vegas) we deposited a year in advance and searched every day. I think you have to use this method now more than ever with people planning vacations in popular destinations and at popular resorts a year or more in advance.

phill12 wrote:

I wouldn't think many people bought a unit just to rent and now renting seems to be the new game in timesharing and it is hurting trading companies

As Jay Jay has stated many times, things have changed in the timeshare industry. People are changing the way they purchase and exchange timeshares but in all of this, the GORILLAS are not harmed. At least no more than a bunch of flies can hurt you. They hold most of the cards and if one way of doing things is not productive, they adjust and do things a different way. The same thing is true with the developers. Perks can be awfully strong incentives to purchase through them. Some of those perks can overcome the difference between retail and resale in the long haul. It depends if you use the system or work against it.

As people work against the gorillas general practices, the gorilla simply changes the rules to first of all satisfy the productivity (money) and then to reward those who play according to the new rules. No real problem for them.

Jay Jay wrote:

When we owned several weeks all of those weeks were off-season (we don't care to travel in hot weather and with the crowds that do so). We never had any problem getting any trade we wanted with either RCI or II, however on trades that we knew would be hard to get (re: southern Calif., Sedona, Las Vegas) we deposited a year in advance and searched every day. I think you have to use this method now more than ever with people planning vacations in popular destinations and at popular resorts a year or more in advance.

Take note he is playing according to the rules. This does seem to still work to an extent. I am not a big exchanger but the times that I do, I seem to have been able to get not only gold crown resorts but the very ones I wanted. I just did what Jay Jay has suggested and it works for me.

Something else no one has addressed in the past couple years. Storms damaged many resorts and some of them are still not open yet. Where do you suppose all those people went? I figure they are putting a load on the rest of the resorts so availability is going to suffer some. Hopefully we will see things balance back out with time.

Finally, I rent out a couple of timeshares a year starting this year because I did buy more than I can use so that I could reach a certain level and take advantage of those perks I was speaking of.

I don't like the way the rules seem to change constantly, but I am trying to work according to the gorilla guidelines to make it all work together. See, I figure I will be more successful in the long run if I do so instead of fight to bring change and complain when it doesn't go my way. I just keep learning the new rules and act according to them.

Patience is also key. For instance I don't like the new offer Redweek is offering with people who want to exchange week for week. I think it is counter productive to me using the old rules of paying for membership and then paying for the listings. People are going to slow down going to the pages that list my resorts and when they get there, they are going to be thinking exchange instead of rent. All I can do is have patience that things will eventually work out. I just listed my weeks right before the offer (oh well).

Jeff

jennie

soonn wrote:

anitad10 wrote:

daddyd wrote:

Kudos to everybody contributing to this thread. A must read for anybody thinking of buying a timeshare with the idea of renting it and profiting on that rental year after year. Happy Holidays.

I think that it is possible to rent out units and make a profit---it is just not happening on Redweek from these comments. you will not be able to move anything unless you are willing to give it away. Thanks for all your inputs. I was thinking about signing up with Redweek to list my timeshare units for rent. I am not any more. Why should I pay for member ship just to give my timeshare unit at very low price (not enough to cover my cost, time and stress). I will just eat it or use it myself.

I think, one problem with Redweek ad. is: Redweek charges membership fee just to respond to an ad. Why should any interested renter pay $9 or $10 to be a member just to inquire on the ad.

Happy Holidays.

Soon

The answer to your questio is simple. Ten dollars is a small price to pay to be able to find and rent timeshare units at a fraction of the price the person would pay for a hotel room. Redweek provides pictures of the resort and lots of uncensored reviews of each property. After one successful rental transaction, most people return to Redweek for their future vacation needs. Why do you think Redweek has 1,000,000 registered users?

As an owner, I am actually glad this policy is in effect. The person paying the $10. membership fee must do so by credit card. Therefore his name and address is known to Redweek. People looking to send spam will not go through this process. I used to post rental ads at other free or low cost web sites and would quickly receive tons of spam. That has not happened with any of the ads placed here at Redweek. I receive less replies but they are serious inquiries and have resulted in dozens of successful rentals for me. Also, some of my renters have been repeat customers, contacting me directly in subsequent years. This saves me the cost of placing some ads.

Sometimes I receive a dozen or more inquiries. Other times I receive only one or two. But I can honestly say that I have never failed to rent any week I have advertised on Redweek. Keep in mind that I did a huge amount of research (mainly at the Timeshare Users Group www.tug2.net) before buying the weeks I own. They are all very desirable, even though most were bought resale at a fraction of the cost I would have paid if bought from the developer.

There is always a market for desirable weeks, if priced properly. It doesn't have to be a "fire sale" price either. I have always received at least my maintenance fees and often times hundreds of dollars more. Some of the disgruntled people complaining on these forums may own off season weeks and/or at a run down resort. If they can't rent their week at Redweek, I sincerely doubt that they will be able to rent it on any other site.

Just my humble opinion from a very satisfied customer.

Jennie--I gather you are happy with Redweek. I wonder if you have any thoughts about my situation: My wife and I have purchased a resale timeshare at Christmas Mountain Village in Wisconsin Dells, WI, owned by Bluegreen Corp. It is a UDI-type ownership, which entitles us to reserve 3 weeks at a time (actually 4, I guess, under some circumstances), which is far more than we could ever use. So, I want to rent out our excess weeks to offset the annual fees. I don't care about making a profit; I just hate to see the excess weeks go to waste. I am wondering what is the best way to do this. Redweek? Ebay? I know I can also reserve a week and then place it for rent directly through Bluegreen, in return for a portion of the rental fee--if they are successful in renting the week. I will appreciate any information or thoughts you might have. Thanks. Mark

Hi folks,

I'm new here and contemplating renting out my timeshare but I have several questions/concerns.

1. My TS is a 2-bdrm lock-off. Would it be wiser to rent each unit separately because I fear that if I keep them together, I will not be able to make enough from rent to cover the maintenance fees. Anyone have experience with this type of situation?

2. My TS is currently in RCI points program. My understanding is that I have to cancel my RCI membership in order to be able to rent it on my own. Is this the case? 3. According to my resort management company, if I decide to cancel my RCI membership, my unit falls back into a weeks program so the money I paid to convert it to points is wasted. Is that true?

4. I am a bit concerned about renting my unit to people I don't know because ultimately I am responsible for the "guests" I rent it to. Has anyone had bad experiences with renting? What are the safeguards?

5. I am a member of Global Resorts Network where I can list my timeshare to rent to other members. Has anyone here used this service? If so, have you been able to rent your unit?

Thanks for your help! I really want to make the most sensible decision on whether to rent or not but it just seems to be such a big one....

patrickp56 wrote:

Hi folks,

I'm new here and contemplating renting out my timeshare but I have several questions/concerns.

1. My TS is a 2-bdrm lock-off. Would it be wiser to rent each unit separately because I fear that if I keep them together, I will not be able to make enough from rent to cover the maintenance fees. Anyone have experience with this type of situation?

2. My TS is currently in RCI points program. My understanding is that I have to cancel my RCI membership in order to be able to rent it on my own. Is this the case?

3. According to my resort management company, if I decide to cancel my RCI membership, my unit falls back into a weeks program so the money I paid to convert it to points is wasted. Is that true?

4. I am a bit concerned about renting my unit to people I don't know because ultimately I am responsible for the "guests" I rent it to. Has anyone had bad experiences with renting? What are the safeguards?

5. I am a member of Global Resorts Network where I can list my timeshare to rent to other members. Has anyone here used this service? If so, have you been able to rent your unit?

Thanks for your help! I really want to make the most sensible decision on whether to rent or not but it just seems to be such a big one....

Answer to question #1: You'll probably get about the same amount renting them separately to 2 different parties as you would renting it as 1 to 1 party. As for recovering your maintenance fees, remember that the person renting from you could not care less what you paid for M/Fs. He just wants the best deal. If you own in a high demand-to-supply ratio area, then chances are good that you will be able to recover above and beyond your M/Fs. However, if it's the opposite (Vegas, Orlando, etc.), you may have a hard time getting your M/Fs back because of the highly competitive rental market and owners continually undercutting other owners (even to the point of rental prices well below the maintenance fees).

Question # 2: Why would you have to cancel your RCI membership? Your timeshare is for you to do what you want with it. You can use it, rent it out, or exchange it. RCI is merely an exchange company that allows you to exchange or rent weeks that other owners have deposited. What you can not do is rent out your week and then deposit it with RCI. Hence, no need to worry about question #3.

Question #4: Safeguards? You need a rental contract to be signed by you and the renter. Maybe check out this article:

http://www.tugbbs.com/forums/showthread.php?t=134680

Question # 5: No, I have never used Global. But remember, never pay anyone a large upfront fee to rent out (or sell, or market) your timeshare.

Thanks Lance,

So where can I find the procedure to not deposit my week with RCI seeing as my home resort obviously steered me wrong? Do I just advise them that I'll be using my week so they don't but them in RCI inventory?

As for question 4, thanks for the link but I just wanted to get a feel if there were people who had bad experiences renting their TS.

And no, there is no fee to list my TS with Global Resorts because it is a member to member perk they offer. They don't even take a cut of the rent. But they are unable to provide me statistics on whether or not the listings are effective, so I decided to do my own survey...

Thanks again for your help.