Question on Renting Timeshare from owner

[ljsmom]

I have just learned about the Timeshare Users Group, and the potential to rent a timeshare from an owner for much less than you could get it from the resort itself (or even through hotelkingdom). The problem is, you are renting from someone you do not know. Has anyone ever done this? I would love to save some money, but of course do not want to be ripped off.

Any advise?

Thanks!

 

[jacrazy]

I have been a member of TUG for 2 years. I haven't rented from anyone, but I have made a direct exchange with someone. I have found the TUG users to be very helpful and forthright. I think the leasor will need to write a letter and/or contact their resort regarding who will be taking their week. Make sure you get copies of the communication, confirmation, and, if I were you, I'd call the resort directly to confirm that you are reserved before you give them any money.

If anyone had ever been ripped off, believe me, I would have read about it on the TUG message board. That has never happened. I've heard of misunderstandings, but the website moderator has stepped in and straighted things out with people -- a great bunch of people.

You don't have to be a member to use the message board. Feel free to post this question and any others on the message board. Most of them are more experienced at this than I, so you'll get great advice.

 

[desianne]

Can you give me more info on the Timeshare User's Group? I've never heard of this. We
have weeks at Orange Lake and I need to sell one week at least that we won't be using.
Is this a good place to try to sell my week?

 

[jacrazy]

Desianne,

It's a great site to place a classified, if it's a reasonable price. You can also place direct exchange ads. You can trade your week with another timeshare owner, therefore, eliminating the exchang fees that RCI and the other exchange companies charge. I traded my 2002 1-bedroom week in the Carribean for a 2-bed in Orlando next year with someone from the site.

If you're a timeshare owner, this site is a must. I have learned so much. It's well worth the $15 a year to join. You do not have to join to place an ad or use the message boards, but the ad costs $10 (not bad), but if you do join, it entitles you one free ad a year. Also as a member, you can read reviews placed by other timeshare owners of resorts they've visited around the world. I love reading people's review of their visits and planning where I'd like to try to trade to next. The website address is:

http://www.tug2.net

 

[tednvon]

Just my humble opinion, but I just looked at some of the rentals from TUG and none compared to the 3 bedroom 3 bath condo we rented with two master suites, King beds, nice pool, all for under 650.00 at VRBO.com. And we didn't have to worry about our "host" trying to sell us an over priced time share....I still don't under stand how people can pay six to ten thousand dollars for a week in a 90,000 dollar condo and then pay four to five hundred a year maintainance....let's see, that's 50 weeks at 8 thousand or 400,000 thousand for a 90,000 condo, plus 20 thousand a year for maintainance........NO WONDER they can give you free breakfast and a little cheaper room......add it up and make your own decision!!!!...........Ted

 

[momuv2poohs]

I rented this past May from an Owner through www.vacationsonly.com I stayed at the Vistana Resorts in Orlando. It went great. I found a few ads on their website, e-mailed them (I also called to make sure they got my e-mail - I could not wait). I got a 2 BR, 2 BA, jacuzzi in room, kitchen, living room, washer/dryer. It overlooked a little pond with water shooting up, very pretty!! Even though the ad may say $1000.00 - they will go down. The one I looked at was asking $1200. for a 7 night. I offered $800.00 and they accepted. On the TUG, you can also offer lower prices and most owners will rent it for you at a lower price than what they have posted. Most just want to get their dues paid for. Vacatonsonly contacted the owner with the price I asked, then they contacted Vistana made sure they could get the room when I wanted it and where (I wanted in the Cascades section), then they sent me and the owner an agreement to sign. This all took maybe one week. That was it. I NEVER had anyone ask me to do a timeshare tour the whole time I was there. Everyone was really nice to me. Good luck, hope this helped.

 

[chloesmommi]

We just rented someone's timeshare in Williamsburg, Va., and everything went off without a hitch. Once you talk to the owner, you will probably have a better idea if you are comfortable doing this.
Before I sent any money, I confirmed that the person I was dealing with was in fact the owner by calling the resort and/or timeshare exchange company. Then I sent a partial deposit. Upon receving written confirmation from the resort that this unit had been reserved for me in my name, I forwarded the balance to the owner. Good Luck!

 

[desianne]

I am an owner who would like to rent one of our weeks but I am concerned also about
whether I would run into problems with the money, etc. My husband doesn't think I should
do it but we have one week in RCI that has to be used by January 2002. I was thinking
that if I ask the person for the RCI fee for the exchange first, request a money order, then
when I reserve the week I know I won't get stuck for the exchange fee and if they pay
the exchange fee then they will probably pay the balance. Does anyone have any thoughts
or suggestions on this?
Thanks

 

[Scotch]

Desianne: You really should post your questions on TUG's bulletin board (BBS). You don't have to join and become a dues paying member to register and post on the main section of the BBS. You'll get much more responses from experienced timeshare owners and exchangers re renting weeks. If you did join TUG, members are allowed to use the "search" feature on the BBS and you'll find past posts re rentals. You can also just use the BBS feature to read posts from more than the default 5 days back -- it's on upper right of screen. I have been a TUG member for over 1/2 year now and it is a great community, similar to this board. You can learn so much re how to maximize your timeshare weeks just reading the posts. There are also plenty of free Advice articles that you may find helpful. Unfortunately, I can't help you with your questions because I have no experience with your issues.

By the way, did you know you can pay RCI a fee to extend the expiration date of your banked weeks? I can't remember off hand the amounts but I do recall someone stating there are different rates for different periods, e.g., 3 months, 6 months. I think the 6 month was $99 but don't quote me on that. There were old TUG posts on this issue. You should call RCI and ask. It may be worthwhile to pay and have extra time to exchange/use your banked week.

 

[Scotch]

There are lots of scams out there and many overpriced timeshares. However, if you did your research, you'll find many timeshares quite worthwhile. If you buy smart on the resale market, you'll save on all the developer marketing costs. We own a Hawaii beach front 1BR timeshare that we paid less than $3000 incl. closing costs and title insurance. I can regularly pull on RCI's online exchange database 1BR and 2BR timeshares at nice resorts in Orlando and elsewhere, including other Hawaii timeshares, Mexico beachside resorts, and Florida beachside resorts. I have another 1BR "cheapie" timeshare within the Marriott system -- I paid around $3000 for my deeded week. I just obtained an internal exchange to a 2BR Marriott Cypress Harbour in Orlando for next June. Many experienced TUGGers found terrific bargains or reasonable timeshares. Yes one must take into account maintenance fees. But if you find good deals, the math works out in the long run. You can get good vacations for the whole family in 1BR, 2BR or 3BR suites/condos at a fixed price. The key is knowledge -- you learn about the market and the exchange system and timeshares can be a terrific addition to anyone's vacation portfolio. I used to be a non-believer. Then I found TUG, articles in well known newspapers and financial magazines . . . . I love travelling, deals and good bargains. I regularly bid on priceline for hotels and airline tickets. I did tons of research, ran figures on my spreadsheet and concluded the the timeshare world works for our family.

Originally posted by tednvon
Just my humble opinion, but I just looked at some of the rentals from TUG and none compared to the 3 bedroom 3 bath condo we rented with two master suites, King beds, nice pool, all for under 650.00 at VRBO.com. And we didn't have to worry about our "host" trying to sell us an over priced time share....I still don't under stand how people can pay six to ten thousand dollars for a week in a 90,000 dollar condo and then pay four to five hundred a year maintainance....let's see, that's 50 weeks at 8 thousand or 400,000 thousand for a 90,000 condo, plus 20 thousand a year for maintainance........NO WONDER they can give you free breakfast and a little cheaper room......add it up and make your own decision!!!!...........Ted

 

[ljsmom]

Well, I did it. I rented Vistana Villages 2 Bedroom for $700/7 nights from an owner on TUG. This is a great rate! I am a bit apprehensive, but spoke to the owner last night and think everything will be ok.

I will let you know how it turns out.

 

[jacrazy]

I don't think you'll have any problem. Relax and look forward the week you rented at a very good price. $700 for a TWO Bedroom condo in a Gold Crown Resort. Do you have the jacuzzi in the Master Bath? You can't beat that!!