Timeshare Snapshot - Fill in a new form anytime the Timeshare Network or Program within that Netw...
The implications and actions to take based on your timeshare's rules.
1. Picking the Resort
1.1. Fixed Dates Owner
1.1.1. Pick the Resort, Unit Size & Dates you are assigned each year.
1.2. Floating Weeks Owner / Points Owner / Credits Owner / Cash Owner
1.2.1. Pick any Resort, Unit Size & Dates you want.
1.2.1.1. Start with your Home Resort
2. Picking the Program
2.1. Which has the longest Lead Time? (i.e. can you make a reservation 13 months in advance or maybe just 11 months in advance?)
2.1.1. For the most-popular dates, set a reminder to make the reservation the minute those dates become available to you.
2.2. Which has the most resorts to choose from in the United States?
2.3. Can you transfer a reservation into the name of a guest?
2.3.1. Yes
2.3.1.1. How do you add a guest to the reservation so they can check in without you being there?
2.3.1.1.1. Edit the existing reservation
2.3.1.1.2. Use a Guest Certificate
2.3.1.1.3. Use a different website
2.3.1.1.4. Call the concierge to do it for you
2.3.1.2. When can you add the guest to the reservation?
2.3.1.2.1. Consider the time it takes to: 1. Get the guest to give you their name. 2. The time it takes to add the name to the reservation (for example if you have to call the concierge and they are only open on weekdays) 3. How long does it take for the timeshare to notify the resort so the guest's name shows up in their system? (Allow 7 days prior to the day of check-in to be safe.)
2.3.2. No
2.3.2.1. Deal Breaker - You cannot use this program for rental. Instead, use this program for your OWN vacations.
3. When can you cancel a reservation without penalty? (i.e. get your weeks / points back so you can use them on another reservation later.)
3.1. Reasonable Cancelation Policy
3.1.1. Between 14 days or less prior to the day of check-in.
3.2. Use-it-or-Lose-It
3.2.1. Either 1. Get a booking and get paid, 2. Use it yourself for a nice vacation or 3. Let it expire worthless and take the loss.
3.2.1.1. You may want to consider doing the Open Dates Strategy instead.
3.3. Purchase Cancelation Protection Insurance to extend the cancelation policy to within 14 days or less prior to the day of check-in.
3.3.1. How much does it cost?
3.3.1.1. We will add this cost when calculating your expenses so it will be included in the nightly rate the guests pay.
4. Can you Modify a reservation after it's been made?
4.1. Yes!
4.1.1. Then you can use the Haircut strategy and keep the nightly rate the same no matter how many nights the guests book.
4.2. No.
4.2.1. Then you will price your timeshare based on the MINIMUM NIGHTS you are willing to rent from the block of nights you have reserved. So if you rent the minimum # of nights, you will meet your income goals and if the guests take more nights, then it's pure profit.
5. What days can you check in?
5.1. Airbnb settings can be turned on to match your check-in days to the timeshare's check-in days.
6. How do you make a reservation?
6.1. Login to website.
6.2. Call the concierge.
7. # of Weeks or Points you get each year.
7.1. How many Weeks or Points do you have to rent right now?
7.1.1. Use any points that are about to expire first so they don't go to waste.
7.2. How much do you pay for your annual Maintenance Fees?
7.2.1. To find your Base Cost, divide the amount you pay for your Maintenance Fees by the # of Nights or Points you get each year to find the actual price you pay "Per Night" or "Per Point."