With over millions of timeshare owners not using their timeshare or living to regret the day they made the timeshare purchase, what might be some ways to get the most out of your timeshare?
Here are four primary things that you can do to make the most out of your timeshare ownership:
- Rent Your Timeshare: Create a Profit or at Least Break Even
- Use Your Timeshare: Treat Yourself To A Vacation
- Offer Vacations To Family and Friends
- Transfer Your Timeshare To a Family Member Who Will Use It
Rent Your Timeshare Out: Use Airbnb, An Agent, Or Any Other Platform
You will need to confirm that renting your timeshare out is allowed in the area where yours is located, as well as the use of specific platforms such as Airbnb, but provided you have the go ahead, this can be a great use of timeshare if you are not personally using it.
There are several considerations to ensure that this is a profitable venture for you, however in general renting your timeshare out is a good way to make use of your timeshare.
If you are not actively using your timeshare then consider renting it out, if not for a profit then at least as a means to offset the cost of maintenance fees. Although not all resorts will allow you to rent your timeshare out, most will and there are a variety of platforms available today to make this an easy way to earn some extra income.
Take A Vacation And Use Your Timeshare
The purchase has already been made, and now you are feeling ‘stuck’ with a vacation destination you may not even want. Perhaps it’s time to ‘rediscover your timeshare, after all at one point in time it seemed like a good idea.
More than anyone else it may be you who is in need of some relaxation in your own timeshare, or perhaps a visit to your timeshare will give you the opportunity to meet with other owners, and generally network to help you find a way to sell or rent your timeshare.
Either way, it may be the right moment to reacquaint yourself with your timeshare and decide how you want to move forward into the future with it.
Offer A Vacation To Family and Friends
While some resorts will have a set limit on how many guests you can have each year, others do not, if your timeshare is sitting unused, why not offer a vacation to family and friends who could enjoy it.
Share the joy of a fun vacation with the people you love, and even if you are not personally using at least someone is. This may lead to the eventuality of gifting your timeshare to a family member who could really benefit either from the vacation or the rental property.
Make the best of your timeshare by spreading the love to those near and dear to you, better someone uses it than it just sits empty.
Transfer Your Timeshare To A Family Member
While the resale market on timeshares is not great, and it is sometimes nearly impossible to sell, it is a viable option to transfer your timeshare to a family member who would enjoy the vacation destination.
Even when you give your timeshare to a family member, remember that ultimately it is a real estate transaction and you will need to follow specific protocol to ensure the legalities of a successful transfer. This may be the right option for you and your family so long as all parties are aware of the ongoing maintenance fees and other associated costs with timeshare ownership.
Make The Best Of Your Timeshare: There Are Lots Of Ways To Spread The Joy
Even while it may be true that you feel disappointed with your timeshare purchase and perhaps have spent significant amounts of time in states of regret, there is still hope to make good use of it through a variety of tactics.