Timeshare Vacation Rental - Consider the Following
Rental Tips - more in this category > Timeshare Rentals > Rental ConsiderationsTimeshare vacation rental can be difficult and rarely produces any profit, despite what some brokers may say. Rental proceeds are typically just below or the same as the maintenance fees which means they may cover these annual costs but not much more. Having an insight into how timeshare vacation rentals work will also help you rent out your timeshare without being scammed.
See - MQSEARCH for the latest advertised timeshares if based in the UK and here if you are based in the USA.
If you decide to go through a broker always use one that specializes in timeshare vacation rental only. The next step is to know who you're dealing with. By law, no third party can legally negotiate and handle a timeshare rental without being licensed so always check that your broker is licensed in your resort state. Once you have found a broker ask for an information pack. This should contain the listing contract, the rental agreement, information on fees and information on the broker. Read through this very carefully. Contact the Better Business Bureau to find out if there have been any complaints made against the company you are considering.
There are certain companies that may make unrealistic promises or guarantees regarding timeshare vacation rental. Such guarantees include an assurance that you can make a profit on by renting out your timeshare week. This is extremely rare and very difficult to predict so be wary of any promises made to you as it is likely the broker is not licensed. Licensed brokers are discouraged or even prohibited from making any guarantees.
Another thing to look out for is upfront fees. These should not be required for listing a rental and in most cases shouldn't even be required for listing resale either. It is usually best to choose a company that charges a commission fee on rentals because this provides them with far more incentive to rent out your vacation interval for the maximum market value. Also beware of brokers offering a refund on upfront fees as this is not usually possible and can be a sign of dishonest dealings.
When paying for services, regardless of whether the broker is licensed or not, never give out your credit card details or send a check just for a timeshare vacation rental listing. All fees should be kept in a rental trust fund to ensure security for all parties involved. These fees should only be disbursed once the rental transaction is complete.
Reservations need to be made with your resorts as early as possible as you can only rent your timeshare when a reservation has been confirmed and submitted to the broker. The sooner you submit the rental the more time the broker has to find someone to rent it. To further increase your chances try to book the most desirable week to attract as many potential travelers as possible.
Timeshare vacation rental prices can vary from $300 to $1000 per week depending on the size of the condo, the season and the resort. Credit card details are taken from the renter at check-in to cover any damages that may be caused during their stay. Other arrangements can made between the renter and owner prior to check-in if necessary.
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