Original Message:
Anyone have any experience going with Starwood to rent your home unit? (by Mike N.):
jackv5 wrote:============== I cannot speak specifically for Starwood, but I can pass along pros and cons based on my experience with my timeshares.I own a 2 bedroom lockout at Westin Kaanapali Ocean Resort Villas. Have any of you used Starwood to rent your unit. I know they take 50% of the rent I was curious what they are typically able to get in rent for the week.thanks
While you can offer a reduced rate if you rent directly (and get more than 50% of the resort rate), the resort may have more success renting the unit since they might be able to reach a larger population via a hotel website. Also people sometimes feel more comfortable renting from a resort instead of from a stranger.
The resort will take a credit card for security, if you rent the unit to a third party, however as the owner, YOU will be responsible for any damage to the unit caused by the renter. If the resort rents the unit for you, then you will probably not be liable for any damages. I say probably, since you need to check the rental regulations of your resort.
If you rent your unit directly, you set your own cancellation policy. Based on your situation, you can make it non-refundable or partially refundable (my rentals are non-refundable, unless I can get another renter). If the resort rents the unit, the renter may be able to cancel one week prior to check-in and get a full refund. You would then get nothing unless the resort can re-rent the unit. The resort also can rent your unit for a partial week which would further reduce your "cut".
Check the rules for Starwood, you can probably put it in their rental pool, as well as try to rent it yourself. If you get a rental or decide to deposit the unit for an exchange, then you can pull it out of Starwood's pool. Good Luck