Rental Property Investor · North Las Vegas, NV · Member since 2014 · 93 posts · 10 votes
I have been recently looking into doing airbnb host with timeshares but Im a little lost on how to go about it. How much money would I need to get started in renting out timeshares on Airbnb. And is anybody doing this and if you are would you mind sharing any advice thanks.
I loved renting my DC-area apartment on Airbnb. I would list for $160 a night during the summer (more for special occasions like the Pope’s visit) and around $90 during other months. Since it was my primary residence, it was already furnished and I took my own pictures. Cleanup was also my responsibility.
Apartments are starting to mention Airbnb and ban using the space as a rental in their lease agreements.
I’m looking to find a duplex to repeat this concept, and furnishing costs are definitely a biggie. I think the investment would be well worth it especially during the touristy months.
At this point, I’m hooked on the earning potential and ease of use. Not to mention, Airbnb’s offer unique experiences, more amenities, and less cost than a hotel.
William Brown I've been using Airbnb to rent out my timeshare for the past few months. It's a great way to make some extra cash on the side. I'm actually renting out my rooms in Vegas, New Orleans, and Florida.
I can't imagine how you would do it with timeshares. I suppose if the situation is right it could be done though. Condos can be very difficult because the association rules usually won't allow it. The first thing you need to do is check on city regulations. Many cities are starting to crack down on str's. Here in New Orleans it has been a major fight. Airbnb is the devil here, we are destroying neighborhoods, ripping the very fabric of the city to shreds, etc., etc. The haters have managed to kick up so much of a fuss that the city has implemented new rules. All airbnb properties have to be licensed now, if you do whole home rentals you must have a homestead exemption. Investors can only rent out str's 90 days out of the year. @Myka Artis are you aware of the new rules?
I am not up on Vegas and airbnb, but if they allow it you can do very well. Initial costs are usually just to furnish. All you have to do is take pictures and put up a listing on airbnb. The early days can be a little slow because airbnb runs on reviews. Once you have at least a few good reviews business picks up. The biggest challenge is usually housekeeping. Getting paid is a breeze. Airbnb collects the payments and does direct deposit to you within 24 hours of check in.
Kimberly Jones Airbnb actually sent me a message letting me know that I wouldn't be able to host in New Orleans w/o a permit and gave me a deadline to get one. I'm going to let them j is that it's my timeshare so I can continue hosting.
@Myka Artis , I'm curious about your experience in Florida. Any setbacks or challenges? About how much do you make per unit? Looking into trying it as well and would love some feedback and insight.
in the past, i tried my one week time share on airbnb, but did not rent it out. How did it turn out for you? I thought that it only make sense if you have several weeks time shares to ensure booking. But in the end, I simply gave it back to them for free!
@Scott Morris My biggest setback this year has been the hurricane. I won't be able to rent out any of the Florida units until the beginning of the year. I was doing pretty good on the Florida units before the hurricane. You can rent out a studio unit for about $85/night starting out. I haven't been able to do much scaling on it due to the hurricane.
@Rachel Zhang I don't use the point system or the week system with my timeshare. I sell the bonus time and inventory specials therefore I can list the timeshares anytime instead of a week.
Check out the podcast Live Let thrive. They talk about using your timeshare for profit.
I'm thinking about buying a timeshare to rent but I'm kinda on the fence. Anyone ever done business with Westgate Resorts. What are some good accredited companies.
I'm thinking about buying a timeshare to rent but I'm kinda on the fence.
That's like saying "I used to be indecisive, but now I'm not so sure". Why would anyone rent a timeshare from you, when they could buy it directly from the source (at a lower cost)?
I loved renting my DC-area apartment on Airbnb. I would list for $160 a night during the summer (more for special occasions like the Pope’s visit) and around $90 during other months. Since it was my primary residence, it was already furnished and I took my own pictures. Cleanup was also my responsibility.
Apartments are starting to mention Airbnb and ban using the space as a rental in their lease agreements.
I’m looking to find a duplex to repeat this concept, and furnishing costs are definitely a biggie. I think the investment would be well worth it especially during the touristy months.
At this point, I’m hooked on the earning potential and ease of use. Not to mention, Airbnb’s offer unique experiences, more amenities, and less cost than a hotel.
@Will Harris If you are going to buy a timeshare just for Airbnb purposes you gotta be extremely careful because you have to make sure your travel isn't based upon the points system. If it is then it won't be worth it. I'm also not familiar with Westgate. I'm very familiar with Worldmark. The only reason my timeshare turned into an asset is because it was already paid off and i only pay the maintenance fees monthly.
@Paul Sandhu People rent timeshares because it saves them hundreds of dollars if they want to stay at an upscale resort. Airbnb just exploded the market because it opened the door for it to be mainstream.
Hello, we are new time share owners with Wyndham. Anyone else with them? We are very interested in learning more about renting out your timeshare. Anyone use your bonus time and rent out? Since it doesn’t use your actual credits but just gives you a great discount wouldn’t that be the best way to do it?
Paul Sandhu nailed it as usual. Sounds like this guy is just another dude trying to put something he doesn’t own on AirBnB to make a buck. You’re better off getting a job and saving for something you can buy and own. And if you want to put that on AirBnB make sure it’s not in a neighborhood
After some research here and elsewhere, I was just going to try to monetize my parents old Worldmark Timeshare to pay the yearly fees. But starting next month, Worldmark will institute a $100 mandatory purchase of guest certificates for non-owner reservations/stays. You will get a limited number of free certificates based on your points. But otherwise, you will have to pay for non-owners to stay. This seems to violate the basic tenet of timehares . . . ownership. If you own property, you usually don't have to pay for friends & family to use it. It's an apparent blatant attempt to stop and/or limit STR of timeshares. Even that is contradictory to the nature of timeshares. If I own property, I should be able to rent it in any manor I see fit. I understand that condos are a special class. But it seems that timeshare may be going too far. Many owners rent their time to pay for their maintenance fees. Or gift their time to family and friend. This will anger owners. I know @Myka Artis also uses Worldmark. Any ideas or workarounds?
We have rented out timeshares all over the country over the last two years. There is a steep learning curve. I have figured it all out. I know the best in demand resorts to buy or trade for. There are many tips and tricks to doing it successfully over and over again.
We have put up some videos at TimeShareProfitSystem . com