Vacation Timeshares and Rentals Explained

by Willie Bird

If you own one or more vacation timeshares and rentals, it is likely the case that there are times when you are unable to use it when you had planned. You might be a bit too low on funds to take that vacation you had been thinking about; and of course we all know how things come up when you least expect it. Even when the accommodations are already there for you and paid; there are plenty of other expenses which go into a vacation.

When you’re unable to use your timeshare when you had wanted to, what can you do with your timeshare week? You could of course do nothing; but this means you’ll just lose out. However, since you paid for that timeshare, there’s no reason you shouldn’t get what you can for it.

One thing you can do is to rent your vacation timeshare to someone. You can make some extra money this way; or at the very least cover your expenses. But how do you do this?

If you own a timeshare, you are probably in the area once a year at best. You are unfamiliar with the area and not sure where to even begin. Don’t panic; it’s easier than you might think to rent out your timeshare.

The first thing you must figure out is how much to rent your timeshare for. You don’t want to undervalue your week, but you don’t want to price yourself out of the market either. One of the easiest ways to figure out what your week is worth is to call the resort. Make them believe that you’re someone who wants to rent one of their available timeshares and see what price they give you.

You can also ask with the resort or timeshare company to see if they already offer a timeshare rental program. The resort stands to gain by maintaining high occupancy, since this lets them make more money selling food drinks and activities; so they might have a rental program prepared. Find out what they will offer you for renting out your timeshare. If the deal they offer seems unfair, you can go ahead and rent it out yourself.

If you do decide to do it yourself, then you may find that you’ll have to take a little less than the resort would be able to rent your timeshare for. The resort has resources you do not – a large advertising budget and access to potential renters all over the globe. Your budget is a little smaller, so you might have to take what you can get.

Once you have found a potential renter for your timeshare, you’ll want to make sure to get everything in writing. A renter’s agreement will be needed if you want to rent your timeshare; be certain that everything is spelled out – this is how you will be able to protect yourself in case the renter causes any damage to the timeshare.

When it comes to the question of payment, PayPal is a good choice. This provides a measure of security for both buyer and seller and PayPal takes care of receipts, proof of purchase documents and so on, which streamlines the process.

You’ll also want to get your money upfront. This shouldn’t be much of an issue with most renters. If it is, you might just want to try and find another renter. With these tips renting your timeshare should be easy.

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