How Do I Begin Renting Some of My Points?

[GrandCanyon Junior Member Find all posts View Profile Close GrandCanyon]

I am a new timeshare owner ... points. I want to begin selling points that I do not use, by making guest reservations. (1) How do I get started, I'm not interested in someone else doing it ... I want to do it myself; and (2) What do I need to consider in regard to taxes.

Most online sources I've seen involving taxes indicate what you can and cannot do in regard to losses. I'm not concerned about losses. I just want to cover myself by correctly reporting any income from renting the points out. Is it as easy as saying if my yearly fees are $3,000 and I only take in $3,000 then I don't have to report anything?

My objective is to pay my annual fee through rentals, and then still have points left over for my family.

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Let's start with what do you own??

Then, do you know how and where to advertise your rentals?

As for the tax aspect, 1st you need to be able to show a profit, before you need to worry about income taxes, and that isn't as easy as it may seem.

So, what do you own, how many points per year? Greg

I am a new timeshare owner ... points. I want to begin selling points that I do not use, by making guest reservations. (1) How do I get started, I'm not interested in someone else doing it ... I want to do it myself; and (2) What do I need to consider in regard to taxes.

Most online sources I've seen involving taxes indicate what you can and cannot do in regard to losses. I'm not concerned about losses. I just want to cover myself by correctly reporting any income from renting the points out. Is it as easy as saying if my yearly fees are $3,000 and I only take in $3,000 then I don't have to report anything?

My objective is to pay my annual fee through rentals, and then still have points left over for my family.

[GrandCanyon Junior Member Find all posts View Profile Close GrandCanyon]

I have 550,000 points and pay an annual fee of $3,300.

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Ok, is that RCI? Wyndham?

I have 550,000 points and pay an annual fee of $3,300.

So is this RCI points? Wyndham? Greg

[GrandCanyon Junior Member Find all posts View Profile Close GrandCanyon]

So is this RCI points? Wyndham? Greg

Wyndham

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Wyndham

Wyndham

OK, so you have around enough points to book a couple of newer 2 bedroom units, 231k each =462 leaving around 88k to use or deposit to RCI for trades.

Getting $3300 rent net out of your points is going to require a miracle. Most prime 2 bedroom weeks are renting for $1000-1300 if you can manage to get a renter and a reservation . Then you will need to advertise, using one or all of the various sites, Redweeks, myresortnetworks, bidshares, etc.

You are going to need to polish the crystal ball, pick the highest value weeks in the most demanded locations, place the best looking ads, and have alot of luck to rent your units for enough to cover the annual fees, let alone the other costs and any use for you.

Sorry, I just can't see it working with so few points at such a high cost per point.

Greg

[GrandCanyon Junior Member Find all posts View Profile Close GrandCanyon]

Just getting some money for unused points will be good. What about VRBO ... I heard that was good. Your opinion?

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

VRBO is a great site

If you have a whole annual condo to rent, the monthly fee to advertise on VRBO starts at $135 plus , you need to use the low cost to free sites.

fwiw,

Greg

Just getting some money for unused points will be good. What about VRBO ... I heard that was good. Your opinion?

[Theo Senior Member Find all posts View Profile Close Theo]

No can do...

Just getting some money for unused points will be good.

Good in concept maybe, but impossible in practical terms...

Since a Wyndham policy change effective March 19, 2009 (about a year ago now), the transfer of Wyndham points alone is no longer an option even available to you (or to anyone else).

Your only option, it seems, is to book weeks with your points and then try to rent out those reserved weeks. Whether the math works out for you, as already mentioned above, is another matter entirely...

[Aceofhearts Junior Member Find all posts View Profile Close Aceofhearts]

I also have a lot of unused points and my annual fees is about $4000. If I book a unit, what is the best way to advertise it?

[JWC Super Moderator Find all posts View Profile Close JWC]

I just rented a week in a 2BR, 2BA Deluxe unit at Wyndham Waikiki Beachwalk. I rented directly from the owner. We had some conversations about this. He has a lot of points and uses some of them to rent out weeks. He waits until 60 days before reserving the week so it costs him 1/2 the number of points to get the week. He is able to offer the week at a lower price so both he and the renter win. He has rented out a lot weeks but he also uses some for his own use.

He lists his weeks on MyResortNetwork.com.

http://www.myresortnetwork.com/

[jeanlee411 Junior Member Find all posts View Profile Close jeanlee411]

Nice write up and info.


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