1. Details Count!
Unless your potential renter is familiar with the resort in question, it falls upon you as the owner to "sell" the resort to renters if you want to rent your week. Think back to when you purchased ownership - what made you buy at your resort? Does your resort boast particularly amazing room views? Do they have a fantastic pool or restaurant on property? Is it ideally located next to major area attractions? Does your resort go the extra mile to make guests happy? Any and all of these qualities are fantastic additions to your posting's "Details" section. If you're advertising a fixed week, you can also advertise any events and activities that are going on during the rental period. Remember, as an owner, you're the expert on your resort!
2. Make Sure the Price is Right!
Even if you think the price you have listed for your week is an absolute steal, it never hurts to compare pricing. Check your prices against other owners advertising similar weeks at the same resort - is your price still attractive in comparison to these other owners? Also, make use of RedWeek's "What's Your Timeshare Worth" tool. This allows you to enter your resort to view a history of all of its rental data on RedWeek. Prices, week number and unit size are displayed. Green dots indicate the week was rented, yellow dots indicate the week was deactivated with no reason given or expired and red dots indicate the week was not rented. This provides you with a more visual breakdown of what prices have been successful in the past.
3. Show the Value!
Part of what makes timeshare rentals so popular to travelers is the massive savings compared to making arrangements with the resort directly. Consider doing a bit of research to highlight the price difference. Visit your resort's website and work out what the same week would cost guests if they booked through the resort. Subtract your week's asking rental price, and add the equation into your posting's 'Details' section. Show other members the value in renting through you!
4. Be Flexible in Payment!
It may be tempting to request full payment up front, but we recommend being a bit more flexible with payment. As a show of good faith, recommend using a licensed escrow service - this can help put a renter at ease. Or, if your renter has another preferred payment method that you're comfortable with, consider giving it a try. As always, have a rental agreement in place so that both you and your renter feel safe and secure.
5. Post at the Right Time!RedWeek research has shown that most members tend to book their accommodations about six months out from their date of travel, and this is why our rental postings run for six months. If you have the extra time and funds, it doesn't hurt to advertise a year out from check-in and renew again in six months. If you don't want to worry about renewals, however, we recommend posting an even six months out from your check-in date. Those 1-2 months before your rental starts are invaluable; it's at this point the resort is often booked solid, and last-minute vacationers are on the hunt for availability. Your renter gets a reservation and you've successfully rented your week - it's a win-win!
With these five tips, renting your timeshare doesn't have to be a shot in the dark! Have you rented out your week through RedWeek, and have you had success? What tactics have worked for you? Or, if you rent from owners, what are you looking for in a posting?