Keep it, Use it, Rent it?
When all is said and done, you may have some difficulty selling a timeshare. You might not be willing to go as low as it takes to get a sale or you may not have a very marketable unit. Regardless of the reason, you may end up having to hold on to the timeshare. This article will discuss some things you can do to mitigate that burden. If you own the unit outright this will be a lot easier to tolerate. If you are making payments you can’t afford, you may end up having to let the original seller take it back.
If you are like me, you might want to use your timeshare once and a while to keep yourself convinced that there is still some value to paying the ongoing maintenance fees. It is assumed that you bought it in the first place because you liked the location or at least the locations you could trade it for. So why not go ahead and get some value out of it and get away once in a while. You can also let friends and family use the unit in most cases. This may gain you some favors down the road when you really need them 
Most timeshares are linked to some sort of exchange company such as RCI or Interval International. Why not explore some new places and trade your unit for a vacation somewhere you haven’t gone before.
Now let’s get down to what can be done to mitigate some of the costs you are burdened with. This would be, at a minimum, your maintenance fees and possibly payments you are making toward the original purchase. First off, the friends and family we discussed before may be willing to help pay a portion or all of your maintenance fees in exchange for the use of the unit. It’s value should be somewhere around double the cost of the fees so it isn’t an unreasonable thing to ask. In most cases, you could also rent the unit. Some timeshare groups manage timeshare rentals on your behalf. Most of these will take some percentage of the rental income as a fee for managing it. This is a good way to go because if the renters cause any damage, it won’t be up to you to foot the bill. You can also rent the unit out yourself and keep all of the profit. This is against the official rules in many cases. You will need to understand the risk you are taking if you do so. At a minimum, you will be liable for any damage caused to the unit. With this in mind, it would be wise to either know or at least check out the prospective renters. Depending on the popularity and demand of your unit, renting can easily pay for your maintenance fees and possibly bring in some extra cash each year.
If your association has access to popular destinations for trade, you may want to consider grabbing some of the popular destinations each year and renting them out. (again, if it is acceptable within your timeshare group) This may mean that you will need to reserve destinations way ahead of time. This is normally a concern for people because they don’t know if they can commit to spending the airfare to get there when the time comes. If you are going to rent the property to someone else, this is no longer a concern.
Hopefully, if you want to sell your timeshare, you can do so by visiting some of the links on our site. However; if you are unable, we hope this helps you cope a little better. Remember, you aren’t the only one out there crying sell my timeshare now!
Filed Under Renting a Timeshare, Until it's Sold | 12 Comments
Tagged With maintenance fees, sell my timeshare, selling a timeshare, timeshare exchange, timeshare rentals
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Author: Don Nolan
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[...] You can have your resort, resell your timeshare. These people have access to potential customers that are visiting and may be able to sell your timeshare or rent it for you. It is important that you deal with reputable firm and one in which you are very comfortable with. You may need to know that you may not get the total amount that you have put into it so you want to make sure the agency you deal with will work hard for you. You can also list your timeshare on a variety websites that specialize in these types of transactions. To get started visit the Best Sell My Timeshare Site. [...]
Have you seen the info at http://escapetimeshare.com/selling-a-timeshare/
[...] where they may utilize the property. Because of this freedom from actual ownership, buying or selling a timeshare may be important for individuals from all walks of life. Timeshares themselves are used in a number [...]
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When all is said and done, you may have some difficulty selling a timeshare…..
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