Why wont my rental rent?

I have a one week rental in a five star resort. I have had a very few bites but no one serious. How long should I wait? Many of the other rentals are rented... What gives?

What and where are you renting and how much are you asking? Maybe wecould give some insight. I have found around 15% want to lock something up 6 months or more, 80% are in the last month with more than half of those in the last two weeks.

This is for a traditional drive to location. If flights are required than I would think there woukd need to be more lead time.

Renting is about timing. You need to find someone who wants what you have at the time they want to rent it. Just because it's a five star property doesn't meant that there is someone that wants it at that location at that time. Price is also important. People are looking for bargains and locations.

You might want to advertise your property at a few sites and publications to get the word out. I own a property in Las Vegas that has an on site rental program and have never had trouble renting it. If you are planning to rent it again next year start advertising it now.

There are many factors to consider when renting out a timeshare:

1. season (red, white, blue etc)

2. in overpopulated timeshare resort areas (Orlando Fl, Branson MO, Mexico etc) there's a tremendous amount of competition

3. view from your unit (gulf, ocean, golf course, pool, garden, parking lot, highway) is a major factor

4. finally, and foremost, is your pricing of your rental .... depending on the above factors you may or may not find a renter that would pay the cost of your maintenance fee so you may consider lowering your price\

5. As far as waiting .... if you belong to an exchange company and you don't get a renter in a certain amount of time then you may consider depositing your week for an exchange. If you don't belong to an exchange company then it will be up to you how long you wait ... it's a possibility that you won't get a renter and will lose the week altogether if you don't use it yourself.

Hello All.. Thank you for all your comments and insights. Just to answer a few of the questions posed to me... This is an ocean front resort in Myrtle Beach SC. It is a Marriott property. It is a "drive to" location for the eastcoast. I drive there each year from the NY/NJ area. I began the rental listing back in May to find a renter. I am going to deposit the week very soon if it is not rented. Just so very suprised by the lack of any contact on my listing. I look at all of the other listings all saying rented.. Just dont get it. My rental price was on par with the other rentals listed. Now I am below many of the others rentals that have rented! Wondering if maybe my listing is not showing? Thank you all for your comments.

If you can't rent it get the Marriott points they will give you 110,000. If you go into the MVC points, you;ll never find anywhere to go - it's a rippoff. Remember most of the timeshares in interval are not as nice. I went to one and we couldn't even stay there it was such a dump. Take the points at least you'll be able to stay at a very nice Marriott hotel. The points do not expire. You'll get four nights somewhere.

I don't think you can cancel your reservation with less than 30 days from check in and request MR points.

I also have a myrtle beach unit up for rent the same week. Mine is a 1 br unit off the beach. I am not panicing yet but I can deposit mine as late as the day before without penalty. I find that in Myrtle beach you get a lot of action in the last two weeks and whenever I accept something more than $100 lower than fair market value, the next day or two I get multiple offers at my full asking price.

Craigslist can be a pain but you will probably end up with more offers.

So at this point you have to decide how much a restricted (flexchange only) deposit is worth to you. Can you afford to lower you price a little more. I'm sure you can rent it probably even at your current price but you will need to look into advertising in multiple sites and keep at it.

I am finding that you are so correct. I have now listed at multiple sites and am beginning to get a few contacts..finally! I never thought this would be so difficult. Marriott OceanWatch Villas, nicest resort and I am very fair on the rental fee.. Go figure! Thanks again all

May not help much now but here's what I do for rentals: 1. Advertise a long time in advance of the rental date - 6 to 9 mos. 2. List lower at a fair price regardless of the higher priced competition. 3. Require a written contract with 50% down and include the confirmation as part of the contract. Remaining 50% 30 days after contract. No surprises. 4. Add the renter to the reservation after receipt of full payment. 5. All money collected at least 120 days before rental. This allows time to exercise other options such as depositing the unit. 6. Use unit or deposit with Interval if not rented - pay attention to dates. 7. Only buy great high demand units you would use - all great locations in great seasons. 8. Satisfied renters - Be fair and responsive to renters. Make sure renters are happy, an occasional email is appreciated. Expect renters to call you for future needs.

Dennish144- Sounds to me like you have been a successful renter. I have not : ( I will take your advise when/if I ever try and rent my unit again. Such a shame its a great location. Have a wonderful summer!

dougs203 wrote:

Dennish144- Sounds to me like you have been a successful renter. I have not : ( I will take your advise when/if I ever try and rent my unit again. Such a shame its a great location. Have a wonderful summer!

Yesterday, I talked to a firm that rents out timeshares out in Palm Desert. They are successful at renting units and charge 25% of the rental, not unreasonable considering their costs (salaries, office costs, advertising, 5% credit card fees, etc.). While I've had a string of good luck, it does take lots of time, follow-up, and worry. Wouldn't it be nice to turn this over to someone who really knows what they're doing and concentrate on what I know how to do? :) I'd probably have a better spring and summer if I let this go. All the best to you in your adventure with timeshare.

I'm just starting to look at this possibility of renting out my 3 bedroom in Orlando at a 5 Star next summer in hopes I can get enough to rent a place in Myrtle Beach for our family. We would like a change in scenery. But this whole process seems to be so time consuming! I have not seen your ad. If it is for next year and we get ours rented, we may be interested.

marcias144 wrote:

I'm just starting to look at this possibility of renting out my 3 bedroom in Orlando at a 5 Star next summer in hopes I can get enough to rent a place in Myrtle Beach for our family. We would like a change in scenery. But this whole process seems to be so time consuming! I have not seen your ad. If it is for next year and we get ours rented, we may be interested.

I suggest that you trade thru Interval. Do a "request first" which means you offer your 3 bedroom reservation if they can get the Myrtle Beach resort and date(s) you want. You should make your Orlando reservation first for the best week you can get. This would be much simpler than the rent and re-rent option. Please also consider multiple requests such as adding Hilton Head resorts.

Incidentally, my son and his family are at Marriott's Barony Beach on Hilton Head this week. I did exactly what I suggested you do using a Newport Villas week. The Barony Beach resort is full this week but we got in thru Interval.