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Re: How can I rent a timeshare? (by Mary D.):

jennie stanleyf5

davide81 wrote:

Hi Jennie,

I took your advice and called RCI about the two banked weeks and the possibility to pay for an extension like you said. They told me no dice that they do not offer that and I was out of luck, needless to say I might be done with them. In the meantime if I loose those weeks, I take that as a learning experience. I was also told that my banked weeks were "blue week" points so my options were limited anyway. With the points which I currently have which are about 700,000 for the year thru Wyndham Resorts. I cannot use all of them and will like to rent what I cannot use. I need advice on the steps to follow if I do this myself.

For instance I am assuming the first step will be to call Wyndham, reserve the weeks I do not need and then place the ads.

How do you deal with paperwork in terms of contracts, security deposits(in the event of damage or whatever else).

Since you are dealing with someone you do not know (renter), how do you handle the transfer of name to this person for when the person goes to check in at the resort.

Please help, I am very "green" at this and looking forward to the challenge.

--------------------------------------------------------------------------- Hi, I "hear your pain" but you cannot expect to get all the information you are requesting on a forum like this. If you bought your first car, you could not expect to learn how to drive it by posting a question on a forum. You would first have to learn a lot of general info about driving, and then read the owners manual for your specific car. The same is true of timeshares.

A lot of information was given to you in writing when you made the Wyndham purchase. (It would have been better if you had taken the time to study the program and make sure it would work for you, before purchasing). But that's in the past.

At this point in time you need to read all the written material and figure out what you can and cannot do with the points you own. I'm sure they have an official web site too, hopefully with a detailed FAQ (frequently asked questions) section. After you figure out the basics of the program, write down any questions you still have and call Customer Service to clarify the issues. Find out the exact procedure for reserving weeks. Usually the earlier you make the request, the better your chances are of obtaining what you want. Find out what the procedure is for allowing someone else to use your week. Do they allow rentals? How do you place another person's name on a reservation? Can you change a reservation? Is there a fee involved? Can you carry unused points forward to the next year? Can you borrow or purchase extra points to accomplish a desired reservation? If you are unable to use all of your points in a given year, can they be converted into a week to be deposited with RCI or II? Will you receive an '"internal preference" when using said week to search for future exchanges. These are but a few of the numerous issues points owners deal with. It's a challenge to learn it all. The good news is that since a lot of owners never take the time to do so, if you do learn it you will have less competition when you are trying to accomplish highly desirable trades.

There are so many "points" systems out there. Wyndham systems (formerly Cendant), include Equivest, Fairfield, Pahio, Trendwest, and Worldmark. Each has its own rules and differences. There is a free Forum for discussion of Points Programs at the Timeshare Users Group www.tug2.net. You should spend a lot of time there reading all the questions and answers posted by owners.

And also read all the info here at Redweek about rental of timeshares. The info is scattered all over throughout the various forums. It is more involved than most people would suspect.

I would like to assume that you purchased all those Wyndham points with the expectation of using them for your own vacation needs. That's really the only reason people should buy any timeshare product. Renting timeshares takes time, energy, and knowledge. It rarely yields much, if any, financial profit. It is best done by people who bought and used their timeshares for the traditional reasons but are not able to do so for a year or two due to some change in their personal circumstances. If the change is permanent, it is usually better to sell the timeshare.

I hope you do not feel that I am being critical. It's just that you need to use your own time and resources to learn as much as possible about what you have bought and how to derive the best possible benefits from it.

P.S. Depending upon which Wyndham product you own, there may be a free Yahoo! group for it. Some are more active than others. If you happen to own Fairfield points (which is now a Wyndham product), there is an excellent Yahoo group. Apply to join it. It's a free and simple process. Then read all the "files" on the left hand corner of the home page before diving in to ask questions. The members of the group can be a little harsh if you haven't first done some homework.

If the Wyndham points you own are from Trendwest or Equivest, there are Yahoo groups for that too.

Good luck and try to report back here if you have found a good source of info that other "newbies" could benefit from.

Dear Jennie,

Yup, when all else fails, read the directions!

If you are Fairfield/Wyndham, this would mean the current "Member's Directory". Since you have 700,000 points, you are a Gold VIP. Pay special attention to the benefits shown on p. 277. Among other perks is the right to FREE guest confirmations. You can reserve in your own name and ask for the change later if you rent out the week or you can put the confirmation into someone else's name initially if you know them. Just call in and make the request.

For a good Fairshare Plus chart, see pp. 330-331. It will give you more ideas on how you might use your points. One option to use them pleasantly is cruising paid for with 100% points! You can definitely bank weeks with your exchange company and you can also extend the life of your points with Fairfield/Wyndham by putting them into their Points Credit Pool (p.12), but these options only put off use till later.

Look at your calendar and start blocking out time periods when you are free. Then start requesting locations you've always wanted to see as far ahead as possible. Actually, almost anyplace can be interesting for one week!

Mary D