• September
    03
    2019
  • 3 min read

The Issue With Trying To Rent Out Your Timeshare

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It’s so easy to do, we actually don’t know why we don’t do it ourselves; thousands of people are calling every day for these properties, we’re really doing you a favor. That’s what you were told when you ask the question about renting out your timeshare. Before you bought in you knew that you didn’t want to vacation in the same place every year and that you would have questions about renting out your time. The company assured you that this would be the easiest thing you have ever done in your life and that there are so many tourists that would desperately want to rent your property that it would not only be easy, but you could actually make a lot of money doing it. Then you found out that’s not exactly true.

How do you market a single property at a vacation destination for a specific time? Call a major marketing agency and ask that same question and they would probably struggle to give you an answer. For example, if you have a timeshare in Orlando and you have access to it during spring break but now your kids have graduated from college and this year you and your spouse want to take a trip to Italy, what do you do? You were told that renting out that time would be easy but how do you find people who are looking to rent a place during spring break in Orlando? These tourists come from all over the world. There are a few sites you might be able to list your property on but there’s no guarantee you will get fair value for the property or even a response.

Imagine for a minute if you were lucky enough to find somebody willing to provide you fair compensation for that week to rent out your timeshare. They visit the property during spring break and cause damage to it. Who do you think is responsible for those damages? It will not be the other tenants, it will not be the people who rented it from you, it will not be the company in charge of managing the property and it will not be the company that owns the property. The responsibility of repairing the damage done to the unit will be on you.

These are the headaches that timeshare owners have to deal with all the time. They cannot get out of this agreement; they cannot rent out the property and they truly feel stuck. The only way to get out of this challenging situation his by hiring an agency that specializes in canceling timeshare agreements. If you are thinking about purchasing a property, don’t. If you already have and are dealing with this situation, contact us today for free consultation.

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