Want to Earn Some Extra Money?
- Survey Junkie: Earn up to $50 per survey with one of the highest-paying survey sites on the web. Join Survey Junkie Now
- Swagbucks: Make money watching videos, taking surveys, shopping online and more. Join Swagbucks Now & Get a $5 Bonus
- LifePoints: Quickly becomming one of the best survey sites out there. Earn up to $10 per survey in a short time. Join LifePoints Now For a 10 Point Bonus
- MobileXpression: Earn free money (passive income) just by leaving an app installed on your phone. Join MobileXpression Now & Get a Free Gift Card in One Week
When it comes to booking your vacation, there are plenty of options to choose from when finding viable accommodations. There’s Airbnb for renting out someone’s apartment, plenty of hotels to choose from, and for those a little more adventurous, there’s always a hostel.
However, many people overlook the fact that renting timeshares for the week can be a great option. Not only are they typically cheaper than most hotels, but you get amenities you wouldn’t find with other forms of accommodation. But where does one find these rentals exactly?
Timeshare owners who wish to rent their unit out, can do it on online marketplaces such as one of the largest – SellMyTimeshareNow.com. We found a great deal of information when browsing their website, and if you read on you can find out exactly how these types of rentals can save you a good amount of money.
What Is a Timeshare?
Simply put, a timeshare is a vacation home, typically located within a high end resort, that has joint owners under one agreement. Under this agreement, owners have the right to do the following:
- Use the timeshare for themselves during vacations
- Exchange their timeshare for one within a different resort in their resort’s chain, or use a company like RCI or Interval International to trade their week for a stay at one of their affiliated resorts across the globe.
- Rent out their timeshare to others when they aren’t using it
This is different than vacation rentals by owners (VRBO) – such as Airbnb – since the property you’re renting out is someone’s personal property, as opposed to time at a resort. In this case, the owners rent out their property however they see fit, rather than just a specific owned week. Prices are often determined per night, and rentals are typically their personal property.
For more information on the difference between timeshares and VRBO, check out this blog post here.
What Should I Be Aware Of When Renting a Timeshare?
Timeshares are professionally managed and come with plenty of amenities and activities on-site. This is great for those who want to go on vacation and have everything at their fingertips.
By going with a timeshare, you’re getting quality at a great price. There’s a kitchen, dedicated rooms, multiple bedrooms, and they can hold many more people. Not only that, but the prices are much cheaper than hotel rooms if booked through a by-owner website such as SellMyTimeshareNow.com.
If you’re interested in buying a timeshare, renting it for a week is also a great way to try it out.
The main reason people decide to rent a timeshare from owners is because they want a home while on vacation. You have full access to a kitchen, dining room and other amenities that you would typically have when in your hometown.
This makes traveling much more enjoyable and a lot less stressful. Not only that, but timeshares are considered to be a bit safer than renting though a VRBO site like Airbnb because they are located within a secure resort, rather than someone’s personal property.
That isn’t to say that renting a timeshare doesn’t come without any downsides. If you decide to go with the timeshare option, you usually have to go with a one-week rental agreement. Going outside of this time range is often quite difficult, although it is possible.
You’ll also need to be pretty flexible because there might not be anything available at the resort you want during the exact week you want.
How Can I Use Timeshare Rentals to Save Me Money?
As mentioned above, one of the cons of renting a timeshare is that you have to rent them for one-week periods. However, what most people don’t realize is the amount of money they’re saving. Some people end up renting a timeshare for an entire week and only stay for a few days and still end up saving more money than they would have renting a hotel room.
Prices may change depending on the season that you’re renting the timeshare. If you see a price that isn’t suitable for you, you can change the dates to try and get a better price. Yet we advise you to snag a great deal quickly since they usually go quickly.
Timeshare rentals aren’t as similar as other forms of lodging because you can also try and negotiate the price with the owner.
Keep in mind that the quality you’re getting is comparable to a 5-star hotel at the fraction of the price. This usually includes a pool, entertainment, on-site restaurants, and anything else you would possibly need. All of this in a friendly and safe environment.
For example, you can rent a nice place in Orlando, Florida (image below) for as little as $85 per night. It comes with a pool, basketball, volleyball, a full-service spa, your own washer & dryer, a full kitchen, tennis courts, hot tubs, leather furniture and to top it all off it only takes a few minutes to walk to Seaworld or Universal Studios.
This price was also found during the holiday season over Christmas. A hotel of similar quality during the same season would cost upward of at least a couple hundred dollars per night.
How Do I Rent A Timeshare?
Renting a timeshare is incredibly simple. In order to make sure you don’t get lost, we’re going to walk you through an example in just a few simple steps.
1. Use a timeshare rental site.
Nowadays, there are online companies that help connect owners with those looking to rent out timeshares. They make it easy to accept payments and connect you directly with the owners. We’ve found that SellMyTimeshareNow.com is great for last minute rentals.
2. Find your timeshare.
Take into consideration where you want to stay, how many weeks you want to stay, and also your budget. Remember that sometimes you’ll be able to negotiate prices with owners. Don’t forget to check what amenities they have listed as well.
3. Book your timeshare.
If you find a place that’s a great deal, be sure to reserve it quickly. Bargains get booked extremely quickly, and it’s often difficult to find another one of equal caliber due to the competitive nature of the for-rent-by-owner timeshare market.
Next time you decide to go on vacation, consider renting a timeshare rather than more typical forms of lodging. What you’re getting is the quality of a five-star hotel at an extreme discount. Although you’re often required to rent for one-week intervals, people who prefer to stay for 3 or 4 days can pay for the entire week and still pay less than a hotel room.
If you’ve ever rented out a timeshare, we’d love to hear about your experience. Go ahead and leave it in the comments below. Thanks for reading and happy frugaling!
My name is Jason Wuerch and I'm currently located in Madrid, Spain running a personal finance blog called Frugal For Less. My goal is to help everyone and anyone willing to make and save money through easy and simple ways that don't require much effort. Just because you're frugal doesn't mean you have to give up life's luxuries.