How To Use Timeshares As A Vacation Rental: The Points System For Rent
More and more timeshares across the globe are using the ‘points system’ rather than the traditional physical property with shared time usage. Meaning owners purchase points within a certain institution such as Wyndham and the points become a vacation currency. A challenge arises when an owner is unable to vacation in a given year and the points don’t roll over into the next year.
So, what happens if you are a points timeshare owner and are unable to use your annual points? For instance, if you have 100,000 Marriott points, and are not able to travel that year, how can you benefit from the accumulated points without a total financial loss.
The good news is that owners who find themselves in this predicament are able to ‘sell’ their points, but in order to do so it is much easier to sell a desired vacation than a random time at a resort somewhere in the world.
Here is the most effective approach for owners trying to sell their points and earn their money back in a given year.
Create An Ideal Vacation That You Can Advertise
If you know that you are not going to be able to use your vacation points in a given year, then the most effective way to get your money back is to sell or advertise a vacation. For instance, if you have points with the Hyatt, then use your points to book a timeslot during an optimal time of the year in the desired location.
For instance, use your points to book a beautiful resort in Hawaii, and then sell the vacation. Individuals looking to vacation are unlikely to want to vacation at, for instance, a Hyatt resort, but would rather vacation in the Caribbean and look around for a desired hotel or resort.
If you are going to ‘rent’ your points out, then you need to create a vacation that can be sold. It takes some leg work on your part, but this is really the most effective way to earn back your money.
This way the owner uses the ‘currency’ of points they have already purchased to book the ideal resort. Once you have done this you will want to advertise your vacation.
Where To Advertise Your Vacation?
Once you have created a delightful vacation and are ready to sell it, you will need to advertise in places that get a lot of traffic. Anywhere from social media to timeshare holder groups can work. You can join TUG (timeshare users group)(1), and this provides a platform for you to showcase your vacation.
If you are looking to move away from the timeshare audience you can use eBay, VRBO, or other vacation rental platforms. Remember to have lots of pictures, verbal descriptions, and details available for your potential buyer.
Become an excellent advertiser of your vacation and you are very likely to sell it to an excited buyer.
Renting Out Your Timeshare Points: Take The Driver’s Seat
If you have timeshare points that will go unused during a particular year and you want to get some money back it is possible to do. To do this it does require that you take the driver’s seat, create a desirable vacation destination, and advertise your product. You will be the one to use your points to book a vacation, and then sell that vacation, not the points themselves.
It is unlikely that buyers will buy points from you, however, there is an excellent open market to sell to vacationers. This means you will need to take the driver’s seat and advertise your product!
It is quite possible that you will not only make your money back but that you may even turn a profit!