Potential Renters are waiting too late

Twice I have had no success offering my timeshare, at maintenance fees cost, only to rent on my own, and then, subsequently having late offers arrive thru Redweek. It appears renters are looking for incredible savings in rental fees too late into the rental process. I have had better luck renting on my own than through the use of the Redweek site. Is this the case, moving forward??? Very frustrating. My thoughts only!!!

Some people may believe (often incorrectly) that they have more “bargaining power” inquiring about rentals still being advertised closer to the usage date, perhaps being unaware that an owner can often just turn their week over to resort management at ANY time to rent out for them (for a commission, of course, but still usually very easily). Owners can also opt to "deposit" their week with RCI or II, if they belong to either or both of those exchange companies, if they choose that additional option.

We use our weeks, don't "exchange" and I don’t much care for the whole rental process, but when having to rent out our weeks on the rare occasions when we can't use them ourselves, we have always had 100% success advertising on RedWeek. I identify a fair and competitive price and I don't negotiate that price, since it's usually already the lowest price to be found anywhere for those particular weeks at those particular resorts. YMMV.

It appears, the later in the rental process, the more frequency of receiving low-ball offers from Tire Kickers. I offered the rental rate, just to cover Maintenance fees and yet offers came in over 30% less than the Maintenance fee. I was unaware that an owner can turn back the rental to the resort management to rent out. What is the typical commission rate??? Very curious

biafrate wrote:

It appears, the later in the rental process, the more frequency of receiving low-ball offers from Tire Kickers. I offered the rental rate, just to cover Maintenance fees and yet offers came in over 30% less than the Maintenance fee. I was unaware that an owner can turn back the rental to the resort management to rent out. What is the typical commission rate??? Very curious

Not all resort management companies handle rentals for owners, but many / most will. At my resorts, the commission charged is 25% of the rental price (the rental figure itself is determined solely by the mgt. company, varying by seasons / seasonal demand). It’s somewhat gratifying to be able to (politely, of course) tell people making insulting low ball rental offers “No thanks, but good luck”.

I too see no activity in 2023 for high end Ritz in Caribbean platinum season. I mean no activity. Last year 2022 and the year before that and the year before that I was having my RENTALS obtained 3-4 months out from check in date and my rate last year was double what I’m asking now. Marriott CEO just reported November 7 that Ritz-Carlton brand saw third quarter revenue per available room in the US and Canada grow 4.4% from a year ago. Occupancy levels rose 1.3% and average daily rates improved 2.5%. He added that Marriott is experiencing strong holiday and 2024 booking trends. Marriott sees full-year revenue per available room rising 6% to 7.5%.

I personally think there’s too many of us trying to rent so the supply greatly exceeds demand. It was good while it lasted but doesn’t appear very attractive approach going forward for coming couple years - i.e. over supply; increasing significant inflation - middle class greatly affected on discretionary funds; recessionary economy; war; moderate travel safety concerns all have effect to varying degrees. Hope I am wrong but can’t ignore my thoughts and what I am seeing.

I am seeing the same thing with my Disney SSR New Years rental and previously with March and July rentals. I have to remove the Disney rentals within 31 days of check-in or take a gamble that it will rent in the final 30 days. So, instead of holding my rentals until the end in hopes someone will rent, I just remove the rental.

In the past, they would rent almost immediately. Maybe it is the economy. Gary

Maybe it's Disney's declining appeal and the HUGE number of timeshares there?

I'm seeing very little rental activity at the Marriott Canyon Villas at Desert Ridge in Phoenix also. In the past, spring training baseball season was an active time, usually had rentals by the end of the previous year. Virtually no activity yet for this season, and there doesn't seem to be an increase in the number of postings, just no activity.