Tips for Renting a Timeshare
Avoid getting the wrong timeshare at the wrong price in the wrong place - instead, find the right timeshare in a place you'll love, and at a price that's hard to beat.
If you are a timeshare owner, you may find that now and then you want to rent out your designated time. And if you are a vacationer looking for a good deal, renting a time share may be just the answer. Of course owning will always be less expensive than renting over time. However, you may be in a position where you aren't interested in making a huge commitment. In that case, renting would be a more expensive option but probably the better choice.
Looking to rent someone's timeshare?
First, you will need to find an owner who wants to rent their unit. The quickest way to do that is to go online and check out the classifieds. You'll find that you have lots of choices. Owners who can't go on a vacation during their designated week may be very eager to connect with you as a renter.
A great source for connecting owners with potential renters is www.RedWeek.com because it works in a for-sale-by-owner fashion. This allows you to connect with time share owners directly to rent condo-style accommodations without the middle-man markup - plus you won't have to endure any timeshare sales tours!
Here are some things to consider if you're planning to rent a timeshare for your next vacation:
- Calculate the cost very carefully. Make sure you're comparing apples to apples and oranges to oranges.
- In terms of accommodations, you usually get at least a kitchenette, which can save you money on food.
- Get as much information as you can on the unit you are planning to rent. How many people can stay comfortably in it? What are the check-in and check-out times? Are there other restrictions?
Want to rent out your timeshare?
One of the best things about owning a timeshare is that you are now part of a huge, worldwide network of other owners. You are able to trade your time share slot with someone who has a timeshare in a place you'd love to visit. Bingo! You both benefit.
Before renting out your time share, you'll need to decide on a rental price. You can get a good idea of what to ask by researching your competition. You'll also need to make a very clear rental agreement. Be prepared for events such as your renter backing out at the last minute. Will you charge a fee for that? You should also be aware that when you rent your own timeshare out, you could be liable for any damages your renter causes.
Remember, renting someone's timeshare may be an ideal way to have a vacation in a top notch resort for a very good price. Likewise, renting out your own timeshare may be a way to make money, or, at the very least, not lose money in the event you can't take your vacation.
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