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For those who were not around for the maturation of RCI, so don't understand why some of those who were are like we are, here's an example.
Originally, in reprimanding timeshare owners/RCI subscribers who were obtaining exchanges and selling them to the public, RCI's reasoning was that individuals were securing the better deposits, depriving other members from them. That skewed the SpaceBank, Trading Power, agreements with Affiliates, etc., and was unfair to other members. SpaceBank deposits were to be used exclusively by RCI subscribers.
Even after immersing themselves, headfirst, into the deep end of rentals, attempting to become a world leader in vacation rentals, using SpaceBank deposits to do so, they still clinged to that rhetoric, while, obviously, violating it themselves. Also obvious is the fact that the arguments for not allowing Members/Subscribers to rent deposits or exchanges are the same arguments for them not doing so.
The following is from well after they began renting SpaceBank deposits to the public:
RCI's Policy Prohibiting Rental/Sale of Deposits/Exchanges - Timeshare Users Group Online Community Forums
It is a violation of RCI's Terms and Conditions of Membership (Section 8) to rent, sell, barter, or auction, a deposited week or confirmed exchange, even if a Guest Certificate is purchased. Violation of this guideline could result in the termination of your RCI membership.
You may give a vacation to a friend or family member via the RCI Guest Certificate; however, you may not receive any compensation beyond the price of the exchange and Guest Certificate fees. Compensation includes anything of value, even another exchange vacation.
Following are a few of the reasons RCI prohibits deposited weeks and exchange vacations from being sold:
1) Accurate representation of Trading Power value -- RCI has contracts with its affiliated resorts and is in a better position to influence information provided about its program.
2) Fair exchange policy - RCI's program strives to provide a vacation that is comparable to the one you own. If members buy a deposited week from a resort they've never visited, RCI has no way to gauge their expectations.
3) Support for timeshare sales and purchases -- Most people who want higher quality vacation exchanges invest in the purchase of higher quality weeks. When these weeks are deposited with RCI, they in turn provide exchange families with a better selection and quality of inventory from which to choose. Travelers would not be incented to upgrade their purchases if they could simply buy the "interest" for a fraction of the purchase price per year.
4) The demand among RCI members for certain areas and times of year is overwhelming (school breaks, holidays, etc.) This is magnified when non-members can compete for the same space.
If you can't use a confimed exchange, cancel it and make the unit available to other RCI members who may be requesting it. When members rent or swap confirmed exchanges, they undermine RCI's program to the detriment of other members. If a member is waiting for a vacation, he would indeed be upset to think that prime exchange units were being offered to the general public or traded among friends instead of being released.
RCI works hard to keep its exchange program viable and to satisfy its subscribing members. Maintaining control of our inventory is crucial to our ability to do this.
FWIW, I believe the legal community abhores putting stuff in writing, and that it is statements like this one, obviously living on, that did in Madge.
Originally, in reprimanding timeshare owners/RCI subscribers who were obtaining exchanges and selling them to the public, RCI's reasoning was that individuals were securing the better deposits, depriving other members from them. That skewed the SpaceBank, Trading Power, agreements with Affiliates, etc., and was unfair to other members. SpaceBank deposits were to be used exclusively by RCI subscribers.
Even after immersing themselves, headfirst, into the deep end of rentals, attempting to become a world leader in vacation rentals, using SpaceBank deposits to do so, they still clinged to that rhetoric, while, obviously, violating it themselves. Also obvious is the fact that the arguments for not allowing Members/Subscribers to rent deposits or exchanges are the same arguments for them not doing so.
The following is from well after they began renting SpaceBank deposits to the public:
RCI's Policy Prohibiting Rental/Sale of Deposits/Exchanges - Timeshare Users Group Online Community Forums
It is a violation of RCI's Terms and Conditions of Membership (Section 8) to rent, sell, barter, or auction, a deposited week or confirmed exchange, even if a Guest Certificate is purchased. Violation of this guideline could result in the termination of your RCI membership.
You may give a vacation to a friend or family member via the RCI Guest Certificate; however, you may not receive any compensation beyond the price of the exchange and Guest Certificate fees. Compensation includes anything of value, even another exchange vacation.
Following are a few of the reasons RCI prohibits deposited weeks and exchange vacations from being sold:
1) Accurate representation of Trading Power value -- RCI has contracts with its affiliated resorts and is in a better position to influence information provided about its program.
2) Fair exchange policy - RCI's program strives to provide a vacation that is comparable to the one you own. If members buy a deposited week from a resort they've never visited, RCI has no way to gauge their expectations.
3) Support for timeshare sales and purchases -- Most people who want higher quality vacation exchanges invest in the purchase of higher quality weeks. When these weeks are deposited with RCI, they in turn provide exchange families with a better selection and quality of inventory from which to choose. Travelers would not be incented to upgrade their purchases if they could simply buy the "interest" for a fraction of the purchase price per year.
4) The demand among RCI members for certain areas and times of year is overwhelming (school breaks, holidays, etc.) This is magnified when non-members can compete for the same space.
If you can't use a confimed exchange, cancel it and make the unit available to other RCI members who may be requesting it. When members rent or swap confirmed exchanges, they undermine RCI's program to the detriment of other members. If a member is waiting for a vacation, he would indeed be upset to think that prime exchange units were being offered to the general public or traded among friends instead of being released.
RCI works hard to keep its exchange program viable and to satisfy its subscribing members. Maintaining control of our inventory is crucial to our ability to do this.
FWIW, I believe the legal community abhores putting stuff in writing, and that it is statements like this one, obviously living on, that did in Madge.
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