Monday, June 6, 2005
Not able to use your timeshare every year? Consider renting your timeshare!
According to a 2003 survey*, 85% of timeshare owners are happy with their timeshare purchase. However, the same survey also indicates that 26% actually use their time.
Why this discrepancy?
It is likely that the average timeshare owner can’t find the time for a week-long vacation every year. A hectic work schedule or the complications of family life can play havoc with a timeshare owner’s vacation plans.
There is always the option of exchanging a timeshare for a more convenient week, but if you simply can’t get away, this often adds up to a different unused timeshare in a different location. We have heard stories from our clients who have had the same timeshare week for ten years or more and never had an opportunity to use it. A situation like this would seem less worrisome were it not for the (often) high initial price of the timeshare unit itself, coupled with maintenance fees and other non-recoverable expenses.
Many timeshare owners who aren’t using their timeshare look for ways to alleviate this financial burden. Often, we suggest that an owner rent his or her unused timeshare. The benefits of renting your timeshare are many. For instance, if the yearly fees owed on a timeshare property amount to $600.00, and the expense associated with advertising the timeshare for rent is $399.00, renting this property for $1000.00 covers the required expenses.
Timeshare weeks vary in value, depending on the particular week in question as well as the desirability of the resort. In order to adequately determine a timeshare’s value, one has to take these factors into account.
Subsequent rentals of this property (assuming that the asking price and the fees remain the same), can yield $400.00 profit for the timeshare owner. This makes more sense than simply paying for a timeshare one is never going to use.
Thinking of renting your timeshare? SellMyTimeshareNOW offers a free market value survey for your timeshare rental property. This will enable you to price your timeshare competitively and still feel confident when you are renting your timeshare that you are getting your money’s worth.
Ragatz Associates Resort Timesharing Worldwide and in the United States
2003 Edition Summary Report
Ragatz Associates Resort Timesharing in the United States
2003 Edition Summary Report 8/03