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Old 06-30-2009, 10:21 PM
 
5 posts, read 30,420 times
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I own 6 timeshares (weeks not points). For the last couple of yrs I have been renting them out to friends, relatives, and using ads on various websites. Im wondering if it's possible to make any real money doing this??? Right now, I just rent them out for alittle more than the maintenance fee. But I've been thinking about getting a website, advertising, and running a rental company - but with my own properties, similar to a landlord owning residential properties and renting them out. As a matter of fact, I own residential properties, and thought this might be something I could do in conjunction with that. I bought the properties really cheap, they are in good locations, and I think it could be a "fun" business. I've even started claiming my expenses on my taxes, although my accountant says that if this is a business, I should not use the properties for personal use - don't want to do anything to alert IRS. Anyway, if anyone has any advice, ideas, etc. please reply.

Last edited by RMW12345; 06-30-2009 at 10:22 PM.. Reason: spelling error
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Old 07-01-2009, 08:36 AM
 
Location: The Big D
14,872 posts, read 38,995,132 times
Reputation: 5787
People rent out their timeshares all of the time AND use them for personal use. You CAN do it. One site to check out is VRBO. It is mostly owner owned unites for the entire year and some that are only a few weeks out of the year. There are a some management companies that do it for you but vrbo your in control of everything as it is just a means to advertise the unit.
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Old 07-01-2009, 03:32 PM
 
26,590 posts, read 57,159,551 times
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I'd be careful to check your documents. Some timeshares have very specific language written into them about renting them for profit as a business.
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Old 07-01-2009, 07:42 PM
 
33 posts, read 73,794 times
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I thought the time share scheme was dead? Still alive and kicking though??? Its such a scam!
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Old 07-02-2009, 08:42 AM
 
5 posts, read 30,420 times
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I don't see it as a scheme, but I realize that alot of people think they are - or people think they just arent worth the money, which is where my business comes in because this creates a market for rentals. People just want to rent the places without the hassle of owning anything. I just provide the ability to purchase a week's vacation without worrying about ownership.
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Old 11-14-2009, 10:45 PM
 
9,803 posts, read 14,373,920 times
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Is this an advertisement for Timeshare Globe?

I always get suspiscous when people promoting or recommending some specific company are " newbie posters"
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Old 11-15-2009, 03:20 PM
 
Location: So. of Rosarito, Baja, Mexico
6,806 posts, read 19,818,831 times
Reputation: 6455
Has been a while since I was exposed to a "Time Share" spiel.

She said that I could use my space for two weeks a yr or exchange usage for some other time share in a different country.

Could not fathom my small place being used by 25 other purchasers over a yrs time.

Besides the air fare to some Europe country would be expensive in addition to my original investment.

I did NOT buy...later did some checking...Geez... such a good deal has many RESALES...wonder why?

Steve
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Old 11-15-2009, 03:37 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
27,116 posts, read 45,215,007 times
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I would be more inclined to consider a fractional ownership with that arrangement, realizing there are specific rules if it is a business (restrictions on # of days of personal use, depreciation / recapture, co-mingling of personal funds, record keeping, expense limitations, insurance...). It is best to keep business stuff far separate from personal (for several reasons; including liability, banking, emotional detachment...)

I knew a homeschool family in USA that started a fractional vineyard property ownership in France b'cuz it was cheaper to buy them there than in USA. They sold between 4-6 shares and each family got a rotating block of time. The French vineyards came with a caretaker and his home + a guest home and the main home, so overlap was possible, the vineyard was self supporting, and the owners were all committed.

Fractional ownership also works well in expensive places like beach houses and ski lodges. I would not try it with time share, as there is often a 'for-profit' holding company that initially takes the $$ and invests in more properties, (Ponzi like). THEN they go broke and form another company that makes money from high monthly fees and bogus maint / management / rental charges. Eventually they milk the cow dry, and why you can pick up 'used' time shares for $3,000 - $5000 that had originally cost $20,000 - $50,000.
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Old 03-14-2013, 02:59 PM
 
5 posts, read 30,420 times
Reputation: 12
Default Working the Timeshare Business

Well, it's been yrs since I first posted here about renting out timeshares. I did start doing this and it's working "just ok". Would love to hear from others that have successfully made money buying timeshares cheap, and then renting out their weeks.
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Old 03-16-2013, 09:05 PM
 
6,035 posts, read 9,673,730 times
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What are the maintenance fees on your units? Do you have to pay them whether the units are occupied or not?
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