Buying, Renting, and Selling Timeshares

renting out my timeshare

Jan 19, 2008

I own week 9 at the royal islander St. Maartan I currently have it for sale. I belong to RCI. I am going to use it this year. suppose I don't sell it. do I have to reserve it for 2009 to rent it out. How does this work? Should I keep paying RCI 124.00 a year or forget them. How do I let the royal islander know I am going to use my week or do I just show up week 9 and they have my room available I'am confused on all this


Thomas G L.
Jan 20, 2008

toml85 states / asks: >> I own week 9 at the royal islander St. Maartan I currently have it for sale. I belong to RCI. I am going to use it this year. suppose I don't sell it. do I have to reserve it for 2009 to rent it out. How does this work?<< ----------------------------------------------------------------- It's not completely clear (to me, anyhow) from your posting, but I'll assume you mean that you own a DEEDED, FIXED week 9 at this particular resort. If so, you don't ever have to "reserve" a deeded, fixed week -- you OWN that week in that particular unit. So, if you own a deeded fixed week 9, then that specific week in that specific unit is yours to use or rent as you see fit, without ever again "reserving" anything as long as you own it.

If, on the other hand, you actually own a "floating" week there (which just happens to have been reserved for a week 9 in 2008 only), then you must actively reserve a specific week with your "float" week ownership --- in and for each and every individual year. ================================================

Re: >> Should I keep paying RCI 124.00 a year or forget them. <<

If there is a chance you won't succeed in selling your week (and in this economy, it's more than just a chance) and you might later want to (try to) exchange your 2009 week with RCI for a week somewhere else, you'll obviously have to have an active, current RCI membership to even (try to) do so. If your position is "I'll ONLY either sell my week or I'll simply just use it myself or rent it out", then there would seem to be no apparent benefit to renewing your RCI membership. Then again, if you fail to find a renter and need to "bank" the week, you need a RCI membership to "bank" into. Your RCI membership can't be transferred over to the next buyer, so the RCI membership itself certainly has no "value added" to a buyer as far as a selling point goes. The buyer would have to establish his/her own RCI membership in any case. ================================================== Re: >> How do I let the royal islander know I am going to use my week or do I just show up week 9 and they have my room available I'am confused on all this <<

Exact same answer as item 1 above, regarding whether or not it's a deeded, fixed week that you actually own. However, if you rent out your deeded, fixed week 9 (assuming that's what you actually own) for 2009, you'll obviously have to notify the resort in advance of the identity of whoever is showing up to use your week in 2009. No respectable resort is going to just blindly accept a stranger showing up unannounced saying... "Hi, I'm Joe Schmoe and I'm here to use Tom Timeshare's week this year." Some advance documentation to that effect from the owner of that week is both appropriate and necessary and in the best interest and protection of both parties.

Of course, you MAY be able to let the resort rent your week for you (this practice varies among resorts --- some do, some don't) but they will also keep 25-30% of the rental as their fee. One benefit of having the resort rent your week out for you is that THEY then assume full responsibility for any damages by the renter. If YOU rent the week yourself, YOU are fully responsible for any damages incurred by your "guest". Sure, you can have a renter sign an acceptance of responsibility for damages in the rental agreement, but rest assured that it is YOU the resort will come after in the event of damages, since YOU are the one who owns the unit/ week.

Hope this answers most or all of your questions.


KC

Last edited by ken1193 on Jan 20, 2008 06:19 AM

Jan 20, 2008

My fixed week 9 is a (right to use) not deeded I forgot to mention this


Thomas G L.
Jan 20, 2008

toml85 wrote:
My fixed week 9 is a (right to use) not deeded I forgot to mention this
=================================================

I am not personally familiar with a "fixed week" and RTU membership being attached together in the same product. Accordingly, I cannot further respond.


KC

Last edited by ken1193 on Jan 20, 2008 08:55 AM

Jan 20, 2008

I do not know if it has changed but our first timeshare in PV Mexico back in the eighties was same. We had week 43 and RTU for 25 years at Los Tules.

Back in 1983 American's couldn't own land in Mexico including timeshares. It may have change now,I have no idea.

We stop going to Mexico about ten years ago and probably will never return. Just to many other places that are much safer to vacation.

PHIL


Phil L.

Last edited by phill12 on Jan 20, 2008 08:50 PM

Jan 23, 2008

I have put my timeshare up for rent for the first time. How long does it take before people start responding? The week isn't until September, I am just trying to set my expectations.

Thanks!


Allison S.
Jan 23, 2008

allisons31 wrote:
I have put my timeshare up for rent for the first time. How long does it take before people start responding? The week isn't until September, I am just trying to set my expectations.

Thanks!

=================== Unfortunately,that's a question no one can answer. Several factors determine the level of repsonses. Basically the location or specific resort, size, and price. Is your week at a high demand resort during a high demand week? In the meantime, check the RedWishes and the want ads at vacationtimesharerentals.com and tug2.net. Maybe someone is looking for unit that is similar to what you are offering. Good Luck


Mike N.

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