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Re: Tips on Renting Out Timeshare (by Lance C.):

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.