Can you make money renting a timeshare? Absolutely! Budget vacation is all the rage nowadays. Instead of the pricey hotel accommodations, various rental sites are opening their doors to timeshare property listings offering more budget-savvy accommodation to ecstatic travelers and prolific vacationers alike. For owners like you, this is a happy experience that should not be allowed to pass.
So, how to do it?
How to rent your timeshare?
When planning to rent out a timeshare property, it is imperative to call first your resort developer. Confirm clearly if such an arrangement is allowed. When given the go-signal or when your contract explicitly allows you to do so then, you have two options– rental agency or do it on your own. Rental agencies offer excellent packages but such comes with a price tag. You can do it on your own, too.
- Assess your property and determine dates and location. Fixed weeks should skip this. For owners of flexi-timeshare, points-based timeshare, and so on, carefully plan out a calendar that will put your property during peak season when the demand is high. You may want to be flexible also on the number of days as many vacationers nowadays prefer 3 to 4 nights of getaway instead of a full week.
- Like any rental properties, timeshare listing price must be carefully evaluated vis a vis current market. Timeshare properties are coined as the new queen of “budget vacation” and you can do research on current rental value via social media sites like Facebook, reservation sites, auction sites like eBay, Airbnb, timeshare forums, and so on. Competitive pricing will ensure more chances of prospects being interested in your property.
- Get rid of possible liability by creating a rental agreement. Details like the number of persons allowed, minimum days of stay, and so on must be succinctly described in full detail on the rental agreement. Be wary of cancellation policies and other applicable fees like say housekeeping charges for your timeshare property. Make sure this is covered in your rental agreement.
- Create a reliable payment method. This should be clearly stipulated on the rental agreement. Credit card payment upon check-in, for instance, must be succinctly laid out on the contract. Or would you rather be paid via PayPal, money orders, bank-to-bank transfer, etc?
- Find an attractive listing site. There’s RedWeek, Airbnb, Craigslist, eBay, and TUG. Some create a website or social media profile, too.
Can I rent my timeshare on Airbnb?
Quick answer – absolutely! You can host a timeshare property in Airbnb and earn extra money on the side. Regardless of the type of timeshare property you have, the steps in renting it out in Airbnb remains the same.
- Sign-up and create an Airbnb account. You can start by signing up here. If you care to look at the sign-up page, there’s a calculator that can actually show estimated rental earnings with the location as a basis. The idea is — always make sure that details are carefully filled out and your identity as owner be verified. Present clear photo and list down reliable (and easily reachable) contact details.
- Now’s the interesting part- setting up your listing. Airbnb automatically offers a suggestion on rates basing on amenities, number of rooms, location, season, and so on. IF you’re not satisfied with the listing price, you can always customize it. Since most timeshare has “weeks”, you can also customize dates to ensure availability. A digital calendar is on site for you to block, open or adjust the availability of your timeshare property.
- The devil is in the details, so they say. In timeshare rentals via Airbnb, this happens a lot. So make sure to be detailed when it comes to amenities, rooms, view, and so on. Add perks like near a shopping mall, parks, walking trails, public transport, etc.– anything that can hold a prospective renter’s attention.
- Post appealing photos of the property. This holds true for a deeded timeshare property. Keep in mind that vacationers would want the best bang for their hard-earned buck and a dreary-looking room can easily turn them off. Make sure photos are up-to-date and the description is detailed.
Timeshare rentals may not offer that great amount of money, but at the very least an owner can earn money to compensate for the hefty costs of maintaining one. List your timeshare property now!