Timeshare Rentals by Owner
Timeshare rentals by owner are not something new, yet most travelers don’t know much about them. Find out what timeshare rentals are, seen from different perspectives.
With the travel industry growing up so fast, new ways to vacation have been appearing in the last years, and the idea of booking a regular hotel room is getting old fashioned. Nevertheless, times are changing, prices go up and the economy gets tough. In order to save more money, some vacationers come up with the idea of looking for timeshare rentals by owner. Even when timeshare rentals are not something new, a big number of tourists are unfamiliar with them.
On the other hand, the tough economy also hits timeshare owners, which are struggling to keep on paying the annual fees, therefore, one of the solutions they think about in order to solve the problem is the idea of renting their timeshare unit.
Timeshare Rentals by Owner
The idea of renting a timeshare is that you can stay at a luxury resort for an affordable rate. Timeshare rentals by owner are shared ownerships that owners rent to different vacationers, since they are not able to use the timeshare for themselves. This conception can be seen from different perspectives:
For the vacationer
As it was mentioned, timeshares for rent by owners offer an opportunity for vacationers to book a timeshare suite instead of a regular hotel room for about the same cost, but that is just the theory. The truth is that timeshare rentals can be very expensive, since you have to cover the annual expenses that the original owner has, such as maintenance fees, membership, assessment fees, among others. Many vacationers decide to rent a timeshare direct from the owner, being that timeshare resales and rental companies do not have a good reputation.
For the owner
If you are ready to list your timeshare for rent, be prepared to have a difficult time trying to do it. Timeshares are not very demand for rentals, and because of the bad reputation timeshare industry has, many people rather to stay away from them. On the other hand, you can always follow these tips:
- Determine how much you should rent a week. That will depend on how much you pay for the timeshare each year.
- List your timeshare on the local newspapers and on the internet. Try to list it on popular vacation forums and blogs.
- Ask your timeshare company if they know of any realtors that rent out timeshare weeks.
Some resorts have a rental program, but you have to pay a, extra fee and the results are not always guaranteed. Sometimes you have to upgrade in order to be part of the rental program, which means you’ll have to pay out more money.
Timeshare Rental Companies
There are many timeshare rental companies that claim to rent your timeshare successfully within a certain period. Most of these companies are not trustable for both owners and vacationers, since the promises are huge and the results are poor.
What is more convenient?
If you are a vacationer, timeshare rentals by owner are an option you might consider, but it is not the best way to save money since the annual fees and the profit will be charged to you. However, you have to keep in mind that renting will be always better than buying.
If you are an owner, and you are trying different alternatives to get rid of your timeshare, renting your shared ownership will not solve your problem. Vacation packages are the biggest competition of timeshare rentals that is a tough industry to compete with. Vacation deals are much more demand than timeshare rentals.
What to do if rentals don’t work
Renting a timeshare is almost as difficult as selling it, for that and many other reasons; it is not the best solution to get rid of your timeshare.
If you are trapped in a timeshare you don’t want, the best solutions to dispose of your purchase is by cancelling the original contract. Timeshare cancellation should not cost any upfront fee, and once you cancel the contract, you will be able to enjoy a financial freedom and feel free to vacation wherever you want, whenever you want.
Contact MTS today for a totally free consultation on your timeshare matter and get ready to cut those frustrating strings attached to the resort.
Information to share
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