Timeshares For Dummies Article
Tips for Getting the Most Money When Renting Your Timeshare
if you are a current timeshare owner then you can be fully aware of how hard it can be to sell your timeshare when it comes time to do so. Most timeshare owners however have never attempted to rent their timeshare, so they have no idea how hard it can be to rent their timeshare without taking a huge loss.
The problem that most timeshare owners make when they attempt to rent their timeshare is that they go about a completely the wrong way. In order to rent your timeshare you have to get your offer out in front of those who are interested in it. Marketing your timeshare is the key to successfully renting without taking a large loss for the year. If you intend to rent your timeshare you can minimize your losses a great deal by awaiting your options and deciding on which strategy works best for you.
One way to rent your timeshare is to go before the timeshare resort to let them know that you would like to offer your unit up for rent. This is where most timeshare owners make a mistake which cost them big time for the year. The timeshare resort will usually charge the timeshare owner a substantial fee for renting out their timeshare unit. It is a complicated process the way a timeshare resort handles its fees. Most of the timeshare resorts will combine the rental income of all the timeshare rentals. If the timeshare was not rented the entire week, the resort then splits the income. Usually timeshare resorts will warn timeshare owners that their unit will rarely rent for the entire week at one time. Usually most timeshare rentals are from two or three days.
Of course the end the timeshare resort must also make a profit from your rental so they usually charge up to 40% of the rental income as a commission. Many times after the timeshare owner pays his annual maintenance fees, he will still find himself at a net loss for the year. It is for this reason that most timeshare owners do not want to rent their timeshare through the resort.
You can also go through a broker to assist you in renting your timeshare. Just be sure that the broker is familiar with timeshares and is fully licensed. Most timeshare brokers will charge around 25% of the rental fees for their commission. These fees are not quite as harsh as the timeshare resort, but they still eat into any profits you may have realized for renting your timeshare unit.
Your final option is to do your timeshare rental marketing on your own. If you concentrate on advertising in the classified section of timeshare magazines you'll have quite a good chance of finding interested parties. You can also run ads in your local paper to see if there are any interested parties which would be local and easier to deal with.
