Timeshare Renting

Hello, Wanted to get opinions on timeshare renting. I'm looking through some of the posts and see renting has worked for others and some not. So I'm curious, if I use an escrow company as RedWeek suggest, is there any chance that as a rentee I can lose my money? Also read there's brokers that rent timeshares but posts as individuals. What does that mean? Does it mean if I rent out, I would need to attend a timeshare presentation? Thanks in advance for any advice.

conradc7 wrote:

Also read there's brokers that rent timeshares but posts as individuals. What does that mean? Does it mean if I rent out, I would need to attend a timeshare presentation?

Not necessarily. If the rental agreement requires that you attend a presentation, that should be clearly stated to you before you pay.

A broker means you are not dealing with the owner. You are dealing with someone who makes their money by finding someone willing to rent out their unit for $x and someone willing to pay $y and the broker keeps the difference.

Some people like dealing with brokers because they know they are dealing with someone who works with hundreds of rentals per year as opposed to some owners who may only rent out 1 or 2 per year. The downside is it will probably cost you more than if you had found the owner willing to rent for the lower price.

I agree with the previous post. There are quite a few Realtors/Brokers pretending to be individuals on here asking much higher prices to rent than from owners. Some have contacted me (an owner) to see if I could help them with potential customers or be willing to sell my TS. After a while, I found their emails harassing and they were rude. I looked some up and they were scammers from FL.

I usually put in my postings "references available upon request." Anyone willing to do that is not a Realtor or Broker and is most likely an honest person not willing to take advantage of others.

Also take a look if it is the "Owner's Week" or "unassigned" week and how much they are asking (price). Are they greedy or in the ball park with others?

I'm also picky and even after emailing potential renters, I still want to talk to them on the phone at a mutually convenient time; you get a better "feel" for someone over the phone. I've been doing this for years now (I'm unable to travel due to medical reasons), and will also assist with finding travel, dining, activities, car rental, etc. if they want the extra help (I'm not in the travel industry, but very familiar with my TS and know people there on the island). Travel should be stress-free, and these days it is not due to safety concerns, so I try to take some of the stress away. I figure if I can't travel, I might as well make someone else's vacation pleasurable. :-)

Also, you should have a Rental Contract that both parties sign and have copies. The Reservation should be given to you in your name after payment has cleared (prior to you traveling). All this can be done electronically.

Hi Karen, I have been reading your posting and was wondering how much will you charge to help me. I own 2 TS, in San Diego county, CA. One right at the beach-with a highway in between: Carlsbad Seapointe. The other a mile away, next door to Legoland: Hilton Marbrisa. We fall back when my husband was diagnosed with cancer, all that passed now but is hard to pick up the pieces and we just can't make the maintenance payments. Is either renting it or selling it real cheap. What do you suggest?

Janine........ NEVER pay anyone money upfront to rent or sell your timeshare. If you have special circumstances contact your home resort and ask to talk to someone who can help you out exiting your timeshare through a " deed back ". You must be current in all your fees and assessments. If they agree you will pay some filing fees and possibly the next years maintenance fees but you will be rid of your timeshares.

I got rid of two timeshares that way and both resorts worked with me and it was all done quite easily. Try that first and be persistent until you get someone who understands your special circumstances. It is better for all parties to agree to a deed back then run up extra costs and still end up with the same results.

Please get back to us and let us know how it works out for you.

janines62 wrote:

Hi Karen, I have been reading your posting and was wondering how much will you charge to help me. I own 2 TS, in San Diego county, CA. One right at the beach-with a highway in between: Carlsbad Seapointe. The other a mile away, next door to Legoland: Hilton Marbrisa. We fall back when my husband was diagnosed with cancer, all that passed now but is hard to pick up the pieces and we just can't make the maintenance payments. Is either renting it or selling it real cheap. What do you suggest?

It would seem that you own 2 desirable timeshares .... one facing the Pacific Ocean and one near Legoland ... have you tried selling them yourself on timeshare ad sites such as Redweek?

Hi Janine,

I'm sorry for not getting back sooner. I have a disabled husband and I'm healing from surgery, so traveling is impossible for us. That is why we rent now to cover our maint. fees. I don't charge anyone to help people out either; I help people out by posting here on Redweek because it is my nature (character) to help others.

I agree -- never pay anyone to rent or sell your timeshares. Most TS companies have a Sales Dept. where you can learn more about the Sales process if you decide to go that route and what steps you need to take, the forms required, etc., but you usually have to be in "good standing" meaning that you have to be paid up on everything.

Prices are down now when it comes to sales, so don't expect what you got when you first bought the TS. That is why many are opting to rent instead of selling -- just enough to cover the maint. fees. You can search listings here to get an idea of how to write them (some are very basic while others are creative). If you really don't want the hassle of renting, most TS's will also rent for you but take a profit, and the TS is the one making money from both you and the rental (not my preference).

Don't be discouraged if you don't hear anything if you decide to rent until < 3 months before the arrival date; but I don't suggest renting > 6 months out unless you have a holiday week; then you may get swarmed with people wanting it. Also, when you rent, if you have a floating week or a high demand week, try to pick a week (if possible) that is desirable to both couples and families. Most people also want a high floor with an ocean view or ocean front. I don't know what your owner week preference is, but this would help in your rental.

I'm sure you have many questions and are overwhelmed and don't know what to do...this is normal. But we are here to help you out. :-)