While some owners try to get out of their timeshares by selling it, some have found an alternative way to get the best of it through a timeshare rental. However, finding renters for a timeshare can be sometimes difficult depending on how much time you have and where your timeshare rental is. In this article, we will discuss some ways how get a renter for a timeshare.
First, you must determine how much rent to charge. You can use a baseline rental price from your own resort as most them have rental programs of their own and will be able to quote you an estimate. Also, advertising is important to let the people know about your timeshare. You can advertise in newspapers, magazines and on the Internet. Some websites let you list timeshare rental opportunities for free in their classifieds section.
More importantly, you must draft a rental agreement. The person you will be renting to must be at least 21 years of age, have a valid copy of their driver's license and must your rental agreement.
In addition, you should get 100 percent of the money upfront. This will ensure you that you will not lose money as some renters back out of an agreement at the last minute. A ten percent security deposit is also advisable. This is to ensure that the renter maintains a certain level of cleanliness and obey what is being agreed upon.
Currently, there are many owners who try to get rid of their timeshares while some hire a timeshare transfer company such as the Transfer Smart. But for those who still have the property as it cannot be easily get out from, renting can be a good alternative as you can recover some costs that you incur from it or you’re earning while waiting for a deal to get rid of it.