Since the turn of the century, timeshare properties have exploded into life. In 2021 the global timeshare market size was 17720 million USD. The industry shows no sign of slowing down as it’s projected to reach 29190 million USD by the beginning of 2028.
The good news is that your timeshare property will be in more demand than ever in the upcoming years. But if you wish to get the most out of the glorious opportunity, you must know how to rent out your timeshare weeks.
Luckily, you came to the right place. That’s because below, we covered all you need to know about renting out your timeshare.
Decide on the Dates You Can Rent Out
The only place to start is by deciding the dates you can rent out your timeshare. The last thing you want is confusion over dates or a double booking.
If your property has fixed dates, it’s much easier as you don’t need to determine when you can or can’t rent it out. If not, research the peak tourist season in your area so you can get more money for each overnight stay.
Week intervals are the most popular, but visitors also like to book timeshares for 3-5 nights.
Research Other Timeshares and Your Competition
Research is critical for any business or company, and it’s no different for your timeshare. Examine everything from potential timeshare buyers to the price of similar properties nearby.
Begin by searching competitors’ property. Find out their timeshare rental price, the good, the bad, and what you can offer in your timeshare over theirs.
A great tip is to read reviews of other timeshares. That will give you more insights into customers’ expectations when visiting the region.
Draft Up Your Rental Agreement
Timeshare contract details are arguably the most important part of renting your property. It’s essential for your protection.
You can’t afford to take any risks with this step. So to help you out, we can help outline your rental agreement when you join our club members.
Set Up Your Payment Method
There’s no point in setting up a timeshare for rental without being able to accept payments.
There are many ways you can collect your cash. One of the easiest and most popular ways of doing so is through PayPal. This secure electronic payment service only requires your name and email and to connect your card or bank account.
So set up your PayPal account today for free!
List Your Timeshare Rental
Once you complete all the above steps, you can finally list your timeshare. But first, you need to decide what platform to list your property. At the International Resort Club, you can list your timeshare and receive plenty of perks!
One of the simplest yet effective tips for getting more customers is taking as many quality photos as possible. People want to know the layout and if it will suit their needs.
Give customers as much information as possible. You must include the name, location, check-in times, and the amenities available.
Get Ready to Rent Out Your Timeshare Weeks
Renting out your property can be a rewarding experience when you know how to do it.
Now you know how to rent out your timeshare weeks. So you’re ready for the final step. And that’s to spend your hard-earned income on whatever you please!
If you want more information on renting your timeshare, contact us today, and we’ll be happy to assist you!