If you are an owner and are wondering "How to rent my timeshare", then our comprehensive guide will give you all the tips and insight you need to put your timeshare up for rent and get some cash for your timeshare.
Renting out your timeshare may seem like a complicated process, but it can be really simple if you know where to begin. Our detailed information below will get you started and guide you through the process.
The good news is that timeshare rentals are the best value for money in the vacation business. No other accommodation option offers the size and amenities for the price that a timeshare rental can deliver - with travelers discovering the terrific options and wonderful opportunities that a rental can provide. Vacationers understand this, so you just need to discover how to get your timeshare in front of them.
We understand that some timeshare owners are not able to use their week in a particular year, as conflicting schedules or life changes sometimes cause a change of vacation plans. This is why renting out your timeshare is such a great way to maintain your ownership and make some money at the same time.
Buyatimeshare.com has an excellent platform for you to use to market your timeshare to the thousands of prospective timeshare renters searching the internet for the next great deal. To find out how to rent your timeshare, please read on or fill out our inquiry form or call 800-640-6886 for more information
Renting My Timeshare - Where to Start
The first item you should check on when asking yourself "How to rent my timeshare" is whether the resort will allow you to rent out your week, or what restrictions there may be regarding your timeshare rental.
While the majority of resorts allow you to rent out your timeshare, some resorts do not allow owners to rent their weeks independently so check with the resort and make sure you understand the process required to rent out your week.
Next, gather all of the necessary information about your resort and unit so you can be as accurate as possible when promoting your timeshare week. Be specific and include as much information (and photos) as possible to give the prospective renter a good idea of just how much fun they can have at your resort.
Then, do some market research to find the best competitive price that you can charge for your timeshare rental. This can include:
Starting with your annual maintenance fee, since covering the cost of your fee is the primary reason that many owners seek to rent their timeshare if they are not planning to use it in a given year.
Checking with your resort to see what they would normally charge to market a similar week.
Doing a search of the BuyaTimeshare.com website to see what other renters are asking for similar timeshare rentals. Keep in mind variables such as unit size, season and amenities when comparing rentals and use the closest matches to your own timeshare to get an accurate idea of the potential price.
Once you discover the range between the market value of your timeshare on the rental market and your maintenance fee, then you'll have a comfort zone established in which you can negotiate with a prospective renter.
How to Find a Renter for your Timeshare
When you have all the information and the price set for renting your timeshare, you are ready to find a renter. Promotion is the key, since renters need to know that your unit is available for rent.
Timeshare-specific websites such as BuyaTimeshare.com use all of their resources to target consumers looking for timeshares. This is what sets us apart from online garage sales like Craigslist and eBay – since we are only about timeshares – and renters know that.
By working with us, we will create a full-page advertisement for you as well as open an account through our Timeshare Pulse program. This will allow you to manage the process, make changes to your ad and receive offers from prospective renters - all managed from your own computer.
After your ad is built and you begin receiving offers to rent your timeshare, continue with the negotiation process until you have selected a renter and agreed on the price. The negotiation is all handled through our data-protected system where all discussions are conducted anonymously to protect the personal information of both parties.
Once the negotiation is completed, you will have the opportunity to reach out to the renter to obtain their contact details and take the process offline.
You should have a written rental agreement ready and send it to the renter to be signed and returned, also asking for a copy of the renter's driver's license as proof of identity.
You'll want to get as much money in advance as possible, so consider setting up a PayPal account so the renter can pay you the full amount using their credit card prior to the travel date. You may also want to ask for a 10% security deposit, to be refunded after checking out, to cover any potential incidents which could occur in the unit.
If you need help during the final stages where agreements and money are changing hands, First American Title has an excellent program that includes using an escrow account.
Inform the Timeshare Resort that You’re Renting Your Timeshare
Remember that even though you are renting your timeshare to someone else, you will need to reserve the week for the renter with the resort, providing the resort with their name and contact details.
Many resorts will allow you to register them as your guest, but some may charge a fee to do this so check with the resort beforehand so there are no surprises. You'll also want to contact the resort after check out to make sure there were no problems during the renter's stay.
If you are also looking to sell your timeshare, this can be a great way to introduce a potential buyer to your unit, as a type of "try before you buy" strategy. The resort may offer your renter the chance to buy a timeshare while at the resort, but you will undoubtedly be able to offer a better price for your unit than what the resort can provide.
I’m Ready to Rent my Timeshare! What Next?
Now that you’ve discovered how to rent my timeshare with all of this information in hand, it’s time to make some money.
Find a renter that will give you a good price for the use of your timeshare, as well as enjoy the resort with the possibility of renting your unit in the future should you decide to rent it again. The best way to accomplish this is to use a platform that will give you the most exposure possible to find a renter.
BuyaTimeshare.com's industry-leading rental portal will give you the ability to find that renter, so call 800-640-6886 to speak with a representative in a no-obligation consultation to begin your search today.