Vacation Timeshares and Rentals Revealed

Posted by Willie Bird

September 17, 2008

by Willie Bird

If you own one or more vacation timeshares and rentals, it is likely the case that there are times when you are unable to use it when you had planned. You might be a bit too low on funds to take that vacation you had been thinking about; and of course we all know how things come up when you least expect it. Even when the accommodations are already there for you and paid; there are plenty of other expenses which go into a vacation.

So when this happens, what do you do with your timeshare for that week? You could do nothing and lose out; but since you did pay for it, you should try to get something out of it, after all.

One thing you can do is to rent your vacation timeshare to someone. You can make some extra money this way; or at the very least cover your expenses. But how do you do this?

Since you own vacation timeshares and rentals, you probably only go there once a year at the most. This means you’re probably not familiar with the area and might not know where to start. Don’t worry, though. Renting a timeshare is easier than you think.

The first thing to think about is the price you will be asking to rent your timeshare. You don’t want to rent it for too little and lose potential income; but neither should you price yourself out of the market. Perhaps the easiest way to find out an appropriate rent for your timeshare is to inquire with the resort. Pose as someone who wants to rent a timeshare and see what price they quote you.

Your vacation timeshares and rentals company may also have a rental program in place already. The resort wants to maintain full occupancy or as close to it as possible to make more money from food, drinks and other services. This is why they may well already have a system in place to rent your timeshare. Ask them about it and decide whether or not they are offering you a deal which is fair; you don’t need to accept less if you could rent it out for yourself.

If you decide to do it yourself, you may have to accept a little less than what the resort would charge; after all, they have an advertising budget and an established client base to draw upon. Your budget is more limited and you may have to take what you can find.

When you find someone willing too rent your timeshare, the next step is to ensure that the paperwork is in order. You will want a renter’s agreement which spells out everything in print. Anything which could happen should be in writing. This is how you can protect yourself from a bad renter.

PayPal is a good means of accepting payment. The buyer (and you) both have a sense of security about the transaction; the renter won’t feel as if they are sending their money to some sort of black hole and potentially losing it. PayPal handles the proof of purchase documents and receipts for you and simplifies the entire process.

You should always get your money in advance. This shouldn’t be a problem with most renters, but if a potential renter has an issue with this, you should probably look for a different renter. By following these tips, you’ll find it much easier to turn your vacation timeshares and rental into a positive cash flow for you!

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