September 21, 2020

Using your Timeshare as a Rental Property

Whether it is a townhouse, condo, or timeshare—owning a vacation home is great! You get your own getaway spot. It is convenient and you can easily make unscheduled trips. It gives you a retirement head start. Not to mention that vacation properties typically retain their value in the long-term—owing to their strategic locations.

Unsurprisingly, the latest Vacation Ownership Market Report shows that the global ownership market is expected to grow by 9.45% annually between 2019 and 2023—reaching $39.89 billion. This growth is attributed to economic growth, rapid urbanization, escalating tourism, internet penetration, and an increasing high net worth population. This all sounds great—but there is a catch.

Vacation Properties are Not All Roses and Sunshine

Owning a vacation home incurs relatively high mortgage, maintenance costs, or annual fees. The American Resort Development Association (ARDA) places the average timeshare maintenance fee at $660 per year—whether you use the property or not.

It is also inflexible since you are limited to a specific vacation destination—sometimes at a specific time of the year (as is the case with timeshares). For this reason, you may feel a need to visit the property as frequent as possible to justify your investment.

But perhaps the major challenge arises when you decide to rid yourself of the ever-increasing fees/expenses. According to an article appearing in Forbes, vacation properties and timeshares are hard to sell. And if you sell a timeshare at a loss, you are not eligible to claim a capital loss from the Internal Revenue Service. This is where Resort Vacation International comes in.

Your Vacation Home Does Not Have to be an Expense

Rather than watch your condo, timeshare, or townhouse collect dust while slowly emptying your bank account, why not rent it? But finding a renter is not a straightforward process. Resort Vacation International claims to offer “the next generation in vacation property marketing” to connect vacation property owners to renter seamlessly. How do they make good on this bold claim?

Resort Vacation International is ideally more of a marketing agency that leverages its superior connection and marketing prowess to find renters for your vacation properties. They get the word out about your intention to lease by making use of Corporate and Vacationing publications, convention coordinators,

They also boost your property’s online visibility and searchability by employing the best SEO and digital marketing practices. As a company with its ‘ears on the ground’, Resort Vacation International is better positioned to identify renter and maximize traffic and exposure in both the international and domestic market.

To sign up for the service, all you have to do is input your details in a web form and one of the company’s representatives will give you a call. After a series of questions, you will be asked to sign a marketing agreement—after which your vacation property will be listed in Resort Vacation International’s website and promoted through several marketing avenues.

You cannot help but appreciate the perks of working with Resort Vacation International. As a vacation homeowner, you get to turn your condo, townhouse, or timeshare from a liability to a source of revenue. And for vacation home renters, it solves the hassle of finding the perfect get-away location. What is more to say? It is a win-win situation.