RedWeek is the largest online marketplace for "by-owner" timeshare rentals and resales. If you own a timeshare, you can post your offering yourself, or use our full-service rental or full-service resale options and get assistance from RedWeek's full-service team.
No, RCI and II both prohibit this practice, as do some of the smaller exchange companies. Please be sure to check that renting your timeshare isn't against any company's terms before posting to RedWeek.
The pricing of your timeshare rental or sale should be largely based on supply and demand. Check out your resort's page on RedWeek.com to see what other owners are charging for similar units, and use our What's My Timeshare Worth tool to see historical rates by week and unit size. No matter what price you choose, make sure you sign up to be notified as new postings are added on your resort's page. This will allow you to keep track of your competition and tweak your pricing (for no extra charge) as you go.
Owning a timeshare can be expensive. The salespeople often do a great job hiding most expenses before purchasing. Yet, there's no denying that the cost of timeshare ownership has led many to consider reselling theirs.
According to American Resort Development Association studies, roughly 85% of timeshare owners regret purchasing one. Ironically, that aligns perfectly with the average rate of rescission period cancellations in the timeshare industry, which is 15%. Whether owners gradually lose interest in their vacation ownership or feel deceived into the initial purchase, they eventually look to get rid of it.
Can you sell a timeshare? This guide will walk you through the steps you need to take to sell your timeshare ownership. We'll also look at how to sell it back to the resort and a few alternative selling methods if that doesn't work.
One of the first questions timeshare owners ask when they decide to get rid of their timeshare property is whether they can sell it back to the resort. They can, but the process is tricky. See, timeshare salespeople often use the resale possibility as a selling point to potential buyers. However, this assurance is not always reliable.
Deed-back programs allow you to sell your timeshare interest back to your resort developer. Technically, you don't receive any money in return for a deed back, but it can deliver you some future savings with your mortgage payment and maintenance fee. The first step to deed the property back to the resort is finding out if it is an option.
Although many timeshare companies claim to inform owners regularly of their deed-back program's existence, it is true that no timeshare resort will go out of its way to promote it. Capital Vacations is one such organization. Capital Vacations has a deed-back program they call, "Graceful Exit."
Canceling your timeshare with Vacation Village is possible, sort of. Contact them by contacting Vacation Village if they will buy back your timeshare. But if you just bought a timeshare, this is only an option. This is due to the possibility that you qualify for a procedure known as rescission.
Rescission laws in most states allow new timeshare owners to return their timeshares to Vacation Village and receive a full refund. Given that this is a matter of state law, Vacation Village is required to accede to your request to cancel your timeshare purchase and must do so without hesitation. The catch is that you can only revoke your timeshare purchase for one to three weeks after you've made it. You'll need to consider other options if you've already passed this window.
RCI is not a timeshare resort. To start, we must define the RCI program. This company has global affiliations with almost 4500 resorts in more than 100 nations. Nearly 4 million people belong to RCI, and they all do so to exchange their timeshare points from one of the affiliated resorts for use at another resort of their choice. Membership in RCI is frequently offered as one of the ownership "perks" at the time of the timeshare purchase by timeshare developers. In addition to the affiliated resort maintenance fee, RCI also charges an annual maintenance fee.
An entirely different issue arises when the affiliated resort's timeshare contract is terminated. If you own a timeshare but use RCI to spend points, you'll need to discuss cancellation with your home resort first.
There's a high chance your timeshare agreement doesn't have a deed-back clause, or you may not qualify for your resort's buyback program. When that's the case, it's still worth reaching out to resort management to see if any options are available to you.
When the timeshare company declines to assist you, finding reputable help can be daunting. Resorts typically give owners two alternative options. Owners can rent their timeshare to other vacation-goers to cover their annual maintenance fees. Or they can attempt to sell the timeshare on their own or with real estate agents in the secondary market.
The resorts don't tell you how difficult achieving either of these alternatives is. Timeshare owners have consistently found it challenging to rent out their units. Even though the salespeople bragged about how easy renting out the timeshare unit would be, it's much easier said than done. The chances of recouping enough money from renting to cover the annual fees are slim.
Unfortunately, selling your timeshare is no easier. The timeshare resale market overflows with listings due to the always-increasing number of owners looking to offload their timeshare. When maneuvering through the resale market, move with extreme caution. Timeshare resale scams are rampant, and many resellers are not who they say they are.
While you should be wary of timeshare resale companies, timeshare exit companies are often an excellent exit option for a timeshare owner. Exit teams represent you as they negotiate directly with the resort to cancel your timeshare agreement.