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Here’s Why Renting or Selling Your Timeshare Usually Doesn’t Work
Learn why renting or selling your timeshare are often times not viable options for getting out.
If you’ve owned your timeshare long enough you are probably aware of the many firms who offer to sell or rent your timeshare unit – for a fee. These are known as the Timeshare Resale and Timeshare Rental markets and we’ll explain what they are and why each is typically not the best avenue for disposing of an unwanted timeshare.
Timeshare Resale Market
A market consisting of many third parties as well as person-to-person timeshare sales & transfers, this area of the timeshare industry is widely scattered. Much like when you go to purchase a home, you can buy from a bank, a broker, a firm, or a person. Timeshares that are listed for sale all over the world are similar in this way.
The current status of the timeshare resale market is not good. The vast majority of timeshares are simply not fetching much value. Young people today have discovered many different, and frankly better, ways to travel than the previous generation. The cost of ownership of a timeshare has increased significantly over the last 20 years and as a result, less people overall are interested in owning one. The benefits no longer out-weigh the costs.
We always pose a simple question: If you don’t want it, why would someone else?
If it doesn’t get you where you want to go when you want to go, what’s it worth?
If the cost of owning it has increased several times over in the last 20 years, what value does it hold?
If the resort you purchased at has raised the maintenance fee over the years, but you no longer enjoy the facilities for some reason, why would someone else want to pay for something they likely won’t enjoy?
If you’re sick of going to owner updates, why would someone else want to attend in your place?
Whatever your reason for wanting to get out of your timeshare, do you really think someone else will pay you money for those same reasons?
Current Value of Timeshares for Sale
Click the link below to see a current list of timeshares for sale on a popular online auction site. It is not pretty. The average cost is around $0.35. This is not a typo. There are timeshares for sale that range from $0.01 to $3.00 at most on the first page of the listings. Unless you own an absolute premium timeshare, you’re likely not going to be happy when you go to sell.
Click Here to See Timeshares For Sale, or scroll down for some images show these listings:
As we mentioned above, there are many reasons for this complete destruction of any percieved value in most timeshare properties. There is one more that we haven’t covered yet: Benefits.
Resale Buyers Get No ‘Benefits’
When you sell your timeshare to someone whether directly or through a third party, any party that is NOT the resort, the developer strips the contract of most of the benefits to being a timeshare owner. This is the developer’s way of saying: “Buy from us and only us, or else”.
In the rare chance you sell your timeshare for even $1, the new owner of the timeshare you that didn’t want becasuse it was expensive and didn’t work as you were told it does, that comes with endless owner updates and ever-rising maintenance fees, now comes with significantly fewer owner benefits than when you owned it.
Does this sound like something you want to sell to someone?…
Something you’d want to buy from someone?
This trick by the developers of the timeshare world effectively killed the timeshare resale market.
What is a frustrated timeshare owner to do? Some firms claim you should try Timeshare Rental…
Timeshare Rental Market
Renting out your timeshare week to someone else definately sounds appealing: recover my maintenance fees & taxes, yet still own my timeshare to use when I am able? Sounds good. Not good.
If you pay a firm upfront to take your timeshare into their rental program, there goes a several hundred dollars.
It didn’t rent right away? Well, you need to pay a few more hundred for our International Listing…
If they are able to find a renter, here comes the commission payment you owe them for finding a renter.
Then, bring on the paperwork and coordination with your home resort. In fact, many resorts do not even allow this practice any longer.
Who is liable for damages to the condo? Is someone you don’t know (and in turn, don’t trust) vacationing as you? This get’s a bit murkey.
If you decided to try and rent your timeshare to someone on your own, as many resort salespeople pitch nowadays, you’re going to find this will not end well for you, either. Trust us here. You are not going to make $3,000 per year renting out your timeshare week. There is simply too much uncertainty in renting out a timeshare from a third party for most folks to trust putting their entire vacation, something they have saved up for and work hard to achieve, on the claims of a timeshare owner looking to pass along their financial obligations to someone else.
If timeshare rental doesn’t work, either, what is a frustrated timeshare owner to do?!?!
We offer professional Liquidation Services. Learn about our process in our Free Daily Webinar or simply give us a call at (888) 528-6630 with any questions.
The Timeshare Resale market was effectively killed by the developers. Timeshare Rental costs too much money and causes too much headache. If you are done with your timeshare, it is time to learn about Timeshare Liquidation.