How can I rent a timeshare?

I've never rented a timeshare, but heard lots of good things about it. What are the steps?

From Redweek's help section:

Renting a Timeshare Directly From an Owner RedWeek.com works in a for-sale-by-owner fashion, allowing you to connect with timeshare owners directly to rent condo-style accommodations without middle-man markup (and no timeshare sales tours whatsoever). Here are some tips on making the process work for you:

Quick Tips: If you are unable to connect with the owner to get the week you want, just let us know and we would be happy to help you find an alternative or refund your membership fee. -------------------------------------------------------------------------------- Always make sure you know who you are dealing with and take steps to ensure a safe, secure transaction. If you receive excuses or resistance as to why an owner or broker will not comply with these security measures, or feel uncomfortable dealing with the person in any way, do not send payment and report your concerns to us immediately. Find a timeshare resort Search or browse through locations to find timeshare resorts that interest you. On each resort page, you can view all timeshare rental postings currently available.

Contact timeshare owners When you find a rental offer that interests you on a resort page, click "view this posting" to see more. If you are not already a RedWeek.com member, you will be asked to upgrade your account in order to view full details and make contact. This membership starts as low as $9.99 and gives you access to all resort reviews, the vacation want ad section (RedWishes), and e-mailing other owners.

Finalize your rental and enjoy! In order to give you the lowest prices on timeshare rentals, RedWeek.com does not control the transaction. You and the owner are free to work out whatever terms you both feel comfortable with. But, don't worry, we won't leave you in the dark. Here are some suggestions that you and the owner can discuss:

Vacation Rental Escrow Service

Use this unique vacation escrow service to bring a secure third-party into your transaction. First American Title will handle the collection and transfer of rental funds to ensure both parties' interests are protected.

Privately Managed Transaction

Coordinate your rental transaction directly with another RedWeek.com member, taking your own security precautions.

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

What happens if you have a floating week? How can you rent that out? We upgraded our timeshare but now it's in floating weeks.. Did we just do something really bad?

Mike

miked144 wrote:

What happens if you have a floating week? How can you rent that out? We upgraded our timeshare but now it's in floating weeks.. Did we just do something really bad?Mike

With floating weeks you have to call the resort in order to reserve the week you want. You can do one of two things ... you can reserve a week (I would reserve a red summer week or a holiday week) then put that week on the market as a rental or you can post it as a rental for a floating week and ask potential renters what week they would desire. This can be iffy if the renter wants a bright red week since you would need to call far in advance to reserve it.

cynthia281 wrote:

Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out.

I have a week at the Boardwalk at Disney that I just exchanged for on II- It is against the rules for me to rent that out??? Can't I get a guest certificate for the people I rent it to?

This is my first time trying to do this - we had to bank our week last year and have not been able to exhange for a week we can take - I got boardwalk by pure luck and would love to go but the kids are in school so I thought I would rent it - I know it is very popular.

If we have to we will go for part of the week but what a waste!

According to exchange company rules you are not allowed to rent or sell an exchanged week (see your other post relating to this). The only reimbursement you can ask for is the exchange fee and the guest certificate IF you want to give the week to a relative or a friend.

As I've said many times before, many people DO rent/sell exchanged weeks and get away with it, but if the exchange companies find out then your membership can be revoked forever and your renter turned away at check-in.

The SAFEST thing to do is to cancel this exchange (losing your exchange fee) and finding another exchange that will be compatible with your schedule. That's what I would do to be on the safe side.

P.S. If you should decide to go against exchange company rules and rent your exchange, the fair thing to do is to relate to your renter that you are renting them an exchange so they will be aware.

How can I take my own security precautions if I don't have the 60 days in advance required for a rental escrow service? I would be glad to pay for a third-party, but how can I do if I want to rent a week right now, so I could celebrate New Year's Eve in Orlando.

See my answer to his in your other thread ....

I have a week at the Boardwalk at Disney that I just exchanged for on II- It is against the rules for me to rent that out??? Can't I get a guest certificate for the people I rent it to? Maryi9 posted: This is my first time trying to do this - we had to bank our week last year and have not been able to exhange for a week we can take - I got boardwalk by pure luck and would love to go but the kids are in school so I thought I would rent it - I know it is very popular.

If we have to we will go for part of the week but what a waste! Couldn't she help herself more by contacting II and getting them to market the Boardwalk Villa at Disney. She may lose an exchange fee but wouldn't she be given an alternative date?

Couldn't she

and 1 other thought- cynthia281 posted this comment: "Make sure that your reservation is from the resort and not from RCI or Interval International. Many are renting weeks that do not belong to them, so be careful not to rent something they do not own. If it is an exchange, it is against the rules to rent it out." I understand this concern but just HOW do you suggest that we do this? Thanks!

Don't waste your time with a third party vacation rental outfit such as Century 21 ... stick with Redweek, and deal directly with the owners ---

What I have found with third party outfits is they want a "one time" up front fee -- and then you will never hear from them again.

I have rented our Grand Mayan weeks on Redweek for the past 5 years. I treat all renters with the upmost care, and do my best to insure they will have a fantastic vacation.

Dennis Atkinson

<I've never rented a timeshare, but heard lots of good things about it. What are the steps?>

It has been suggested that you " make sure that your reservation is from the resort and not from RCI or II since many are renting weeks that don't belong to them" ! This statement pertains to the fact that an exchanged unit cannot (or should not) be rented. Do I understand this correctly and if I do, how can I determine if the unit offered for rent is indeed "from the resort" and not from RCI or II? I see many listed here at redweek with the unit described as "TBA" ! Is this a giveaway that that unit has been exchanged? Thanks for helping me with this. I am looking to rent a nice condo in Maui for 2007 and am being very cautious!

It is correct that a unit that has been received from an exchange with RCI cannot be rented. Might be true of Interval too. But the TBA designation does NOT mean that the exchange is to be involved in this rental. When an owner has a flexible week rather than a fixed week, or the resort itself only assigns the week on your arrival you will not know which unit you will get. It does put you at some risk in the case of the latter. Some condos will have better locations in the resort than others. So when someone can designate the specific room you have a better chance of getting what you want.

Randy

phill12 wrote:

randy wrote:

It is correct that a unit that has been received from an exchange with RCI cannot be rented. Might be true of Interval too. But the TBA designation does NOT mean that the exchange is to be involved in this rental. When an owner has a flexible week rather than a fixed week, or the resort itself only assigns the week on your arrival you will not know which unit you will get. It does put you at some risk in the case of the latter. Some condos will have better locations in the resort than others. So when someone can designate the specific room you have a better chance of getting what you want.

Randy

Randy, I have a question for you! We own at the Ridge Tahoe and have a week May 26,2007 and plan on using it. We have a assigned unit ,floor and building already set up. From what the Ridge told me is that if I decided to rent my unit one year they have the right to change the unit for a renter.

I as a owner am more important then someone renting the unit. I was told they could switch it and give another owner my unit that year. They told me I have my first choice and other owners would have like to had my unit and even though they also have been assigned a unit they still hope to move up to better unit that I now have.

I have a very nice Naegle unit I asked for and they feel if I wasn't going to use it then another owner should get it!

What happens when I list the unit for rent and then they get there and the Ridge gives them a different unit.

I would think other timeshares work the same way because I have to agree that owners should come first!

THANKS, PHIL

Resorts have the right to assign a different unit (and often times a different week) if you are depositing your week with RCI, II, or an exchange company. But when you are using it yourself or doing a private rental, most resorts will assign your exact unit. You do really own it and have the right to use it in anyway you see fit.

P.S. The above applies if you own a fixed week. If you own floating time and have reserved the unit, it is more of a "gray area" situation. But the above strategy should work.

By the way, many renters do not know the difference between units and sections of a resort, especially if they have never stayed there before. They may "love" whatever unit they get. When I went to Club Internacional de Cancun for the first time, on an RCI exchange, I loved the unit I was in, even though I found out later that it was considered to be one of the most "undesirable" units because it had a "lagoon view" instead of a pool or beach view.

If you are trying to rent a unit assigned through ownership of a floating week, to be on the safe side you could advertise it as "to be assigne TBA" in your ad. If the people are very nice, you could then tell them that you will try to get permission for them to stay in the unit you have been assigned.

When you make the reservation, do they tell you then which unit they are giving you? Many resorts do. Or is this a resort that will not tell you until you actually check in?

daddyd wrote:

<I've never rented a timeshare, but heard lots of good things about it. What are the steps?

It has been suggested that you " make sure that your reservation is from the resort and not from RCI or II since many are renting weeks that don't belong to them" ! This statement pertains to the fact that an exchanged unit cannot (or should not) be rented. Do I understand this correctly and if I do, how can I determine if the unit offered for rent is indeed "from the resort" and not from RCI or II? I see many listed here at redweek with the unit described as "TBA" ! Is this a giveaway that that unit has been exchanged? Thanks for helping me with this. I am looking to rent a nice condo in Maui for 2007 and am being very cautious!

Can anybody answer this question? It would seem most important to know how to do this before beginning to negotiate for a rental, at least to me! Once again, the question: how can you tell if the unit for rent is actually "owned" or is being "exchanged", so as to avoid potential trouble upon arrival. Anybody done this, like maybe contacting the resort itself. Will the resort confirm that the "owner" has the right to rent it, or not? Thanks for sharing any experience with this.

Outright ask the renter if it's an exchange that you're interested in renting. It's your right to know. If they say yes, then tell them that you cannot rent it since it's against RCI or II's policies.

If it's an exchange that's being rented the exchanger will have to buy a guest certificate from RCI or II to put the rental in your name. If they have to buy a guest certificate that should ring a bell with you that the rental is an exchange.

Another way to make sure that the rental is not an exchange is to ask the renter to send you some sort of proof of their ownership of that week.

daddyd

daddyd wrote:

< I see many listed here at redweek with the unit described as "TBA" ! Is this a giveaway that that unit has been exchanged?

It is very common to see TBA in an ad from a legitimate owner. It is nothing to be suspicious or worried about.

Some people own a "fixed" deeded week meaning that they own one particular unit for the same week every year (or every other year). If they are renting their fixed week, they should be able to prove ownership by supplying you with a copy of their deed. Or the current maintenance fee bill which will usually list the Week # and Unit #. If the owner gives permission, the resort will generally verify the owner's name and address for you by phone and confirm that all fees (e.g. maintenance, taxes, Special Assessments) are paid.

But many people own "floating weeks" or Points. They need to make a reservation for whatever time they want to use. In many instances the dates they want are confirmed but they may not be assigned a particular unit until they check in. That is usually because many resorts have a combination of "fixed" weeks owners and "floating" or Points owners. They will not know which units will be available on some future date for a variety of reasons including how many "fixed" weeks owners are going to relinguish their weeks that year, how many VIP level members will be coming that week, as they are usually entitled to a unit upgrade, or preference is given to their special requests for a particular building, floor, view, etc...When I reserve a floating week, I may ask them to note some special requests on my reservation if there is a particular unit or building I like. I usually receive it but there is no obligation on the resort's part to honor my request.

It's a good idea to speak with the person running the ad by phone. You will usually get a feel for their level of rental experience, maturity, and honesty etc...

Although the overwhelming majority of the ads on RedWeek.com are posted by actual owners, some people who own only one week and seldom exchange it through RCI or I.I. honestly do not know that they are not allowed to rent a week they receive via exchange. They think that because they gave the exchange company their own week, and paid an exchange fee for the week they received, that they can do the same things with it that they are able to do with their own week.

But as jayjay pointed out, if the renter states that they will be obtaining a guest certificate in your name, this means that they are most likely planning to tell RCI or II that you are a personal friend or family member and that you will be using the unit as their guest. I suppose if neither of you say otherwise, the rental would go through without a problem. But if the exchange company finds out that it is a rental, they will cancel the reservation, impose penalties upon the member, and the unit will not be available if you show up to check in.

There is one exception to the above "rule". RCI has gone on record as stating that they would allow a member to rent out the exchanged week if they are unable to use it but they may not charge more than the price of the maintenance fees they paid for the unit they deposited, plus the exchange fee and the guest certificate fee. But RCI is notorious for changing rules so one would need to contact RCI and see if this policy still exists before proceeding with such a rental. They have (or had) this policy to assist people with an unforseen problem. But they wanted to make sure that the owner just recoups their expenses and has no ability to make a profit.

It's ironic that RCI stands accused (via a pending class action lawsuit) of renting deposited weeks to the general public for profit. But that's a whole 'nother story.

If you have any insecurity about renting a week, or do not want to be "bothered" doing "homework", you are 100% protected if you use RedWeek's escrow service.

Jennie's information below is correct except for one sentence. You cannot request compensation of your maintenance fees when giving a guest certificate to a friend or relative. The only compensation you may request are the exchange fee and guest certificate fee. If you could request compensation for the maintenance fee, then rentals of exchanges would be rampant. See below under RCI's Terms and Conditions:

" It is a violation of RCI's Terms and Conditions of Membership (Section 8) to rent, sell, barter, or auction, a deposited week or confirmed exchange, even if a Guest Certificate is purchased. Violation of this guideline could result in the termination of your RCI membership.

You may give a vacation to a friend or family member via the RCI Guest Certificate; however, you may not receive any compensation beyond the price of the exchange and Guest Certificate fees. Compensation includes anything of value, even another exchange vacation.

Following are a few of the reasons RCI prohibits deposited weeks and exchange vacations from being sold:

1) Accurate representation of Trading Power value -- RCI has contracts with its affiliated resorts and is in a better position to influence information provided about its program.

2) Fair exchange policy - RCI's program strives to provide a vacation that is comparable to the one you own. If members buy a deposited week from a resort they've never visited, RCI has no way to gauge their expectations.

3) Support for timeshare sales and purchases -- Most people who want higher quality vacation exchanges invest in the purchase of higher quality weeks. When these weeks are deposited with RCI, they in turn provide exchange families with a better selection and quality of inventory from which to choose. Travelers would not be incented to upgrade their purchases if they could simply buy the "interest" for a fraction of the purchase price per year.

4) The demand among RCI members for certain areas and times of year is overwhelming (school breaks, holidays, etc.) This is magnified when non-members can compete for the same space.

If you can't use a confimed exchange, cancel it and make the unit available to other RCI members who may be requesting it. When members rent or swap confirmed exchanges, they undermine RCI's program to the detriment of other members. If a member is waiting for a vacation, he would indeed be upset to think that prime exchange units were being offered to the general public or traded among friends instead of being released.

RCI works hard to keep its exchange program viable and to satisfy its subscribing members. Maintaining control of our inventory is crucial to our ability to do this."

jennie wrote:

But as jayjay pointed out, if the renter states that they will be obtaining a guest certificate in your name, this means that they are most likely planning to tell RCI or II that you are a personal friend or family member and that you will be using the unit as their guest.

There is one exception to the above "rule". RCI has gone on record as stating that they would allow a member to rent out the exchanged week if they are unable to use it but they may not charge more than the price of the maintenance fees they paid for the unit they deposited, plus the exchange fee and the guest certificate fee.