How to Rent Your Timeshare
5/27/2009
If you are considering renting your timeshare, you’re not the only one. Below is a list of questions and steps to help you successfully post and rent your timeshare online.
- Check With Your Resort
- Am I free to rent my timeshare to anyone, or are there restrictions I should be aware of?
- Are there any transfer fees if I rent my timeshare myself (i.e. commissions, guest certificate fees, transfer fees, etc.)?
- What is the process for transferring the use of my timeshare week into a guest's name?
- Does the resort send them a confirmation directly? Or, will it go to me and I send it to them? How much lead time do you require?
- What weekly rate does the resort itself charge renters for the week and unit size that I own? (this will help you with step #2)
- Post Your Timeshare Online
- Finalizing the Rental
Each resort has different policies and procedures. You’ll want to take the time to call your resort with the questions listed below to avoid any surprises down the road.
Questions for the Resort:
You’ll find many resources available online. Most require a nominal membership and posting fee. When creating your listing, you’ll want to include as much detail as possible about your timeshare unit and the surrounding location so your renter can paint a mental picture of your offering. The great thing about online posting is that you control the entire process. Members interested in your timeshare rental will e-mail you directly through your posting page to arrange the payment. You’ll just need to answer e-mails and proceed with finalizing the transaction, once you've found your renter.
When utilizing an online service for timeshare rentals, the financial portion of the transaction typically takes place between the members themselves. You can conduct a privately managed transaction, or use a vacation escrow service for added security with your agreement and payment due. If you choose to conduct business privately, it is wise to have a signed agreement of the terms of payment, date of stay, resort location, etc… All details finalized in writing will protect you in the long run. Also, once you’ve completed the transaction, be sure to take your posting off the timeshare website.
What a great article! Things I would Never have thought of! Thank you so much!