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Author
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Topic: Will VRI Rent my Week
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bogey21
TUG MemberPosts: 1156
From: fort worth, texas usa
Registered: Sep 2001
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posted 04-19-2005 11:46
    
If I buy a week in a resort managed by VRI and want to rent it, will VRI rent it for me? If so, what are their terms?IP: Logged |
anne1125
TUG MemberPosts: 992
From: Cherry Hill, NJ, USA
Registered: Feb 2003
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posted 04-19-2005 12:49
They do offer that service. I forget the cost (about 30% I think). No guarantees for rental though.------------------
anne IP: Logged |
Judy321
TUG MemberPosts: 1015
From:
Registered: Mar 2004
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posted 04-19-2005 14:32
If you look at VRI's site, you'll get some idea of what they charge for units. They do offer various discounts, however. Still, this should give you some idea of what your unit might rent for, before VRI takes their cut.IP: Logged |
snelson
TUG VolunteerPosts: 6589
From: Belly-View, WA. Owner: Embassy Poipu (floating); Winners Circle (Week 52), Raintree Vacation Club; Club Regina
Registered: Dec 2000
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posted 04-19-2005 14:44
Some points to be aware of.- Recognize that if you rent the week yourself, you will not be able to rent it for as much as VRI can rent the week for. That is true for almost all resorts, nut just VRI resorts. You should figure that you can rent for about one-half of what the resort will rent for.
You might still net more renting it youself, though. - VRI will also rent the unit on a nightly basis - i.e., they will do less than a full week rental.
- VRI generally gives priority to owners by date placed in the rental pool. That is, if two owners deposit identical units and weeks in the pool, VRI will first rent the unit that is placed first in the pool. If more units are placed for rental than VRI is able to rent, the units that don't get rented are the ones last placed in the rental pool.
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Steve Nelson IP: Logged |
jbercu
TUG MemberPosts: 54
From: Alamo,CA,USA
Registered: Jan 2001
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posted 04-21-2005 14:06
I have used VRI before to rent my week, and the results were disappointing. So more issues to be aware of:
1) VRI rents most resorts as hotel rooms; with full service, so daily maid service is deducted from your proceeds in addition to the fee.
2) VRI also opens the rental to other travel agents, and that is a good thing, but if VRI incurs travel agent costs, they are passed to you in addition to the percent fee. Your net proceeds per night are the rental price minus the percent take of VRI+HOA minus daily maid service minus Credit Card fees minus travel agent fees.
3) The Home Owner Association most likely has inventory for rent, and that inventory takes precedence, so you are most likely not on the top of the list for your unit to be rented.
4) The communication from VRI is minimal, and after you put your week in the rental pool, the communication consists of sending you a check if any about 2 months after your use week. You must initiate the rest of the communication yourself.
IP: Logged |
shellsak
TUG MemberPosts: 511
From: New York
Registered: Apr 2002
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posted 04-21-2005 17:19
I know that my answer doesn't necessarily answer your question directly, but I have had great success in the past 3 years renting my timeshare weeks on redweek.com (one of which is a VRI resort)! My weeks are summer weeks and I always have renters in place by March 1st of each year.------------------
Shelley It's not about "having it all", just appreciating "all that I have"! My website IP: Logged |
MarilynA
TUG MemberPosts: 124
From: Texas Owner:Piney Shores TX, Peregrine TX, Villas of Sedona AZ, Island Seas BH, Escapes to Bella Vista, AR
Registered: Oct 2003
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posted 04-22-2005 04:26
Due to the fact that REDWEEK.COM started chargeing for looking do you still think this will be the case? I have several weeks up for rent and haven't gotten one bite this year. ------------------
Marilyn and Michael IP: Logged |
shellsak
TUG MemberPosts: 511
From: New York
Registered: Apr 2002
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posted 04-22-2005 05:24
So far redweek's fees haven't affected me personally. Within the past 2 months I found a buyer for my Shawnee week 33 and a renter for my Cove at Yarmouth week 32. Isn't it possible to "look" without paying on redweek.com?...you only have to pay if you find what you want and want to contact the person?It should be noted that I list reasonable prices...my sale was for $3,000. and my rental for $1,000. ($400. less than VRI would ask for the same week). ------------------
Shelley It's not about "having it all", just appreciating "all that I have"! My website IP: Logged |
cdziuba
TUG MemberPosts: 1462
From: NJ Shell Island Beach Club, Sanibel Island
Registered: Jan 2001
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posted 04-22-2005 06:29
I decided not to renew my Redweek membership. You cannot view the listings, you can only see that there are X number of listings at a resort. In order to access the particulars/details, you have to be a member. I think it was a mistake on their part, and I was a fan of Redweek, having bought 2 timeshares from ads on their site. It's a shame. CarolIP: Logged |
funtime
TUG MemberPosts: 80
From: Dallas, Texas USA
Registered: Nov 2003
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posted 04-23-2005 14:35
I too had a very disappointing experience with the VRI rental program. I did not hear anything until a few months after the week had gone by. They sent me a few hundred dollars. I was so disgusted I did not save the statement, but the concept of cleaning fees and travel agent commissions and VRI management took the lion's share of the rental money. I could have done a better job myself on ebay and figure I lost $300-400. IP: Logged |
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