posted 09-08-2004 08:06            

You are getting $2500 by renting your weeks, but isn't about $1500 of that going to the maintenance fee? That would give you a net of $1000. I DO think that the rent rate will increase dramatically and rather rapidly over the next 3 to 5 years.

posted 09-08-2004 08:37               

quote:

---

Originally posted by surfmom2:
Where did you find your resale? Do you have any suggestions for where to look? I have a few places I am looking. So how did the rentals go? Did you go through an agency? Did that protect you from any damage that they may cause? I am concerned about the liability of renting to strangers.

---

Surfmom - Just curious. Why are you considering buying such an expensive property and then renting it out? If you aren't going to take a vacation every year, then maybe timesharing isn't for you. Maybe renting timeshare/condos would work better for you because you wouldn't have to worry about what to do the years you don't take a vacation or maintenance fees.

------------------
Denise

posted 09-08-2004 08:46               

quote:

---

Originally posted by surfmom2:
So far I have gathered that trading for Star points is not good value and it is better to rent and take the money to stay in the hotels. I think the distinction is when you buy a resale then you can not trade for the Starpoints.

---

Actually - the best value is to exchange your timeshare for the area you want, if you don't want to go to Maui some years. We deposited our 1 week- 2 bdm. Ka'anapali unit for 2005 and got 2 exchange weeks and 2 bonus weeks in return. In my eyes, that is a lot more value than the $2,500 I might get for renting it.

Also - We tried to rent on studio for 4th of July week for about 4 mos. this last winter, and didn't get any takers, so I wouldn't count on being able to rent it either.

It was also very frustrating, because the people who did contact me about renting it, seemed to think it was a hotel or condo and wanted to make a lot of stipulations that I had no control over. One woman insisted that she wanted a Monday check-in date and I could not make her understand why that was impossible. She even called Starwood to see if they allowed check in on Monday, and they of course told her yes, because they were talking about a rental, so she simply could not understand why I wouldn't "let" her check in on Mon. Then, she wanted me to rent to her, but deduct the cost of Sat. and Sun. night, because she wasn't arriving until Mon. Two other potential renters backed out after we had come to an agreement and I had actually sent them the rental contract. Maybe I just had bad luck, but I don't think I will try renting again.

------------------
Denise

posted 09-08-2004 10:08               

We're reserved for the Princeville Resort in Kauai next summer, five nights for 48,000 points. I have points from the purchase but I amass a load of them from the Starwood AMEX card. Check out the Starwood website and you'll see that the cheapest room goes for about $500 per nite. That's $2,500 to me. To those who argue that I might do better on Priceline, my response is that I don't want to take the chance and I want to go where I want to go. My purchase incentive will give me 3 trips there, if I wanted and still leave me 8,000 points. That means that if you play the game right, you can easily get over $7,000 for that many points. I purchased from Orlando Direct Sales. The rep knew I would not have purchased it for fewer points. I guess I lucked out - come to think of it, it WAS at the end of the month!

I agree with everyone who states that you get much, much more if you trade the week rather than turning it in for points, but once again, it depends on what works for you. I too would much rather have 7 nights in a 2 BR suite. But a patient of mine turned in his week, got 72,000 points, added 8,000 he already had and took his family to the Westin Grand Cayman - 2 rooms for 5 days. If you check out their prices, you'll see why it financially worked for him.

Here we are on a small part of the Hotel-Based Timeshare Board on the larger TUG board, arguing about the best way to do it. Look at the number of other boards, the number of other timeshares and you'll agree that there are too many opinions about timesharing to count. This was my second timeshare purchase so I felt I had a sense of what I did wrong last time and what would make me happy. And happy I am.

Again, good luck.

posted 09-08-2004 14:50               

quote:

---

Originally posted by stevens397:

I agree with everyone who states that you get much, much more if you trade the week rather than turning it in for points, but once again, it depends on what works for you. Steve

---

I see your point, Steve and I can see the value of a week in a very nice hotel, but we would just rather stay in a timeshare for longer. Just shows that there is something for everyone in SVO.

posted 09-09-2004 09:18               

I personally used Fred at the timeshare-gallery and would recommend him. He helped me understand the "resale market" quite well, and he helped with the Westin paperwork (they were hesitant to allow the resale, as I believe I was one of the first).

posted 09-09-2004 21:08               

quote:

---

Originally posted by surfmom2:
(Sorry I don't know how to copy previous phrases and get it look like I am quoting from a previous post. I did it earlier but it just looked the same as my post.)

---

Just click the quote button above the post you want to quote and then add your response below the quote.

posted 09-10-2004 06:51            

I understand the financials of the point system and I can see the valid arguments against, still I am intriqued by the flexibility, and my wife & I like the Westin & Sheraton chains. I also have the Starwood AMEX to pile on some additional points.

I do have another type of question to existing Starwood owners. As an owner, have you had any additional opportunities to buy additional properties at decent rates? The reason I ask this is that I am wondering about the proposed Westin property planned for the land next to the Kaanapali Villas. Do you think Starwood would give first shot to existing owners?? Would there be a chance for existing owners to get in on "pre-construction" pricing?

This could be a factor in making my purchase decision.

posted 09-10-2004 08:42               

quote:

---

Originally posted by pdt:
I do have another type of question to existing Starwood owners. As an owner, have you had any additional opportunities to buy additional properties at decent rates? The reason I ask this is that I am wondering about the proposed Westin property planned for the land next to the Kaanapali Villas. Do you think Starwood would give first shot to existing owners?? Would there be a chance for existing owners to get in on "pre-construction" pricing?

---

I have asked about pre-construction pricing, and I have been told that it will be at the same or higher price than what Maui is currently selling for at the time. This applies to not only the new Maui resort, but also the proposed ones on Kauai and the Big Island. Who knows what it will really be when it is ready to sell. A lot will probably depend on the timeshare market in Hawaii at the time. Discounts for owners? Maybe the 50% off an EY for an EOY that they are sometimes offering now. I'd hope for more, but haven't heard of anything yet. Good luck with your decision!

posted 09-10-2004 15:48               

quote:

---

Originally posted by deniselew1:
Discounts for owners? Maybe the 50% off an EY for an EOY that they are sometimes offering now.

---

Hi Denise - Does this work out to be less than buying an EY in the first place? I am so jealous that you are going back in Nov. - next summer seems like such a long time!

posted 09-10-2004 16:46               

quote:

---

Originally posted by dbmMayer:
Hi Denise - Does this work out to be less than buying an EY in the first place? I am so jealous that you are going back in Nov. - next summer seems like such a long time!

---

Hi Denise, it works out to be the same price as buying an EY, not less. It's just like what they offered you this summer for the island view...$18K for an EOY which was 1/2 of the EY price of $36K. I'm tempted to do something like this just for the Elite status, but I don't really know if the Elite status is worth it. I might just try and rob a bank and buy a resale oceanview week instead...

November still seems like a long time from now. I have been waiting so long, and next year I want to go twice but only own a week! And then there's the airfare expense too!