RCI Owners?

[tlenzendorf]

Is anyone here an RCI owner? I have some questions if someone wouldn't mind me PM'ing them?

 

[jenmcnitt]

I'm a RCI owner. What questions do you have?

 

[ccgirl]

I,too, am an RCI owner and have traded into Disney. Would be glad to help with any questions.

 

[tlenzendorf]

I have quite a few questions if you don't mind A little background first may help. My sister and I are thinking about buying together. We have been checking them out on eBay, we are thinking buy RCI points and not weeks and then we will alternate years for using it. I am thinking 50,000 points. Thoughts on that?

How is just the ease of use overall?

Does it seem easy to change to a different resort? Have you been able to get what you want when you want it or do you need to be flexible? How long in advance can you book your home resort and how long in advance for a different resort?

How do points convert over to rent DVC?

Can you have more than one owner? Spefically meaning can my sister and I own it together(since obviously we aren't a married couple...), or would one of us own it and then we would have to do the guest certificate every other year when it was the one's turn to use it who wasn't the owner?

What do you like and dislike about it?

I see there is the maintenance and taxes(about $700 total for what we are looking at), then there is the exchange fees if we want a different resort($194 if we call and $179 online) and a guest cert if we rent it out($59), and then finally the subscription fee(varies, but we'd probably do a 5 year for $249). So I'm thinking $950 the first year with the 5 year subscription if we stay at our home resort? Years after that $879 if we stay someplace different(unless maintenance/taxes go up)? Are there any fees I'm missing? Are the fees a flat rate for exchange, or is it based on length of stay, season and grade of hotel?

Thanks!

 

[simonsmom]

I own 3 timeshares with rci. The last one i bought on ebay. Make sure you get a deeded property. Look for a lock off unit so that it can be divided into 2 separate units which will translate into 2 separate weeks if you desire. So you could both get a week a year. Its pretty easy to exchange (i have weeks though). And those are the flat rates. High demand areas you have to wait a little longer

 

[tlenzendorf]

I own 3 timeshares with rci. The last one i bought on ebay. Make sure you get a deeded property. Look for a lock off unit so that it can be divided into 2 separate units which will translate into 2 separate weeks if you desire. So you could both get a week a year. Its pretty easy to exchange (i have weeks though). And those are the flat rates. High demand areas you have to wait a little longer

Thanks. Is there a difference between a lock off unit and if we get something that is points? The one we are looking at is a deeded property with no expiration that converts to around 50,000 points/year.

 

[Sinderelly]

Does anyone know a timeshare seller who is honest and reliable? MY DH has one that he needs to sell. It's from his previous marriage and alot of bad memories attatched. Sorry to hijack OP. I hope you get the info you need.

 

[simonsmom]

You usually book 1 year out so the only thing to adjust to is you have to plan your vacations further out than you may be used to. The places are really nice and with a family its great to have a kitchen,good for the budget also. We have traded to myrtle beach,williamsburg,sedona,las vegas,orlando,san diego,hawaii,etc..
Maybe look for one that is driving distance from you so if you are having a tougher year budget wise you can drive to your vacation. And look at the maintaince fees- we have one that is $400 and one that is $900, and they seem to sneak up a little each year

 

[simonsmom]

A lock off unit has a door in between that locks so 2 families could stay without ever seeing each other, each will have a kitchen(though one side is usually a full kitchen and the other a partial). So you can deposit both sides separately and trade for 2 different weeks. We frequently trade our studio for a 2 bedroom with no problems. It should say in the description lock off or lock out unit regardless of being weeks or points

 

[simonsmom]

does anyone know a timeshare seller who is honest and reliable? My dh has one that he needs to sell. It's from his previous marriage and alot of bad memories attatched. Sorry to hijack op. I hope you get the info you need.

the problem is you will never recoup the money -all you can hope to do is get out of the contract. Is it paid off yet? If so i would just look on ebay for sellers selling timeshares. Look for 1 with a lot of positive feedback and most likely the link to them will tell you they will sell for you also.

 

[tlenzendorf]

Does anyone know a timeshare seller who is honest and reliable? MY DH has one that he needs to sell. It's from his previous marriage and alot of bad memories attatched. Sorry to hijack OP. I hope you get the info you need.

the problem is you will never recoup the money -all you can hope to do is get out of the contract. Is it paid off yet? If so i would just look on ebay for sellers selling timeshares. Look for 1 with a lot of positive feedback and most likely the link to them will tell you they will sell for you also.

I agree with simonsmom, the one we are looking at on eBay starts off at $1 and all paid off, and there are several that have gone for $3 or $4. Minimal closing costs ~$200-500. It's a bad time for selling due to the economy, a great time for those buying.

 

[tlenzendorf]

A lock off unit has a door in between that locks so 2 families could stay without ever seeing each other, each will have a kitchen(though one side is usually a full kitchen and the other a partial). So you can deposit both sides separately and trade for 2 different weeks. We frequently trade our studio for a 2 bedroom with no problems. It should say in the description lock off or lock out unit regardless of being weeks or points

Gotcha. Does it matter if we get one that is a unit or points? The one we are looking at is a 2 bedroom dedicated or 50,000 points. If we are going to use the points we don't have to use them all at once do we? We can split them up? For our home resort it's going to be a place we are going to stay with the kids always and if we are going without them we will use the points instead. Does that make sense?

 

[tlenzendorf]

You usually book 1 year out so the only thing to adjust to is you have to plan your vacations further out than you may be used to. The places are really nice and with a family its great to have a kitchen,good for the budget also. We have traded to myrtle beach,williamsburg,sedona,las vegas,orlando,san diego,hawaii,etc..
Maybe look for one that is driving distance from you so if you are having a tougher year budget wise you can drive to your vacation. And look at the maintaince fees- we have one that is $400 and one that is $900, and they seem to sneak up a little each year

I'm a planner, so it works out for me! I am working on our 2013 vacation ideas now

All those places you listed are exactly the kinds of places we want to use it for. Good thought with the driving distance plan. I am looking at Panama City Beach for our home resort. There are some in Wisconsin Dells, which is only an hour away from where we live, but we don't really like those resorts compared to the one we love to stay at, so I think we would end up paying the exchange rate every year to stay other places. Although if the maintenance was low enough then it may be worth it... We are definitely thinking we would drive to most of the places when we go to the beach, although sometimes we would fly, like whenever we get to San Diego and Disneyland.

 

[Ash&Wes07]

Forgive me if this sounds horribly naive, but I am confused as to how they are selling timeshare deeds for $5?

So, for $5 (plus a closing cost), you can get XXX points at a timeshare? I assume you'd have to pay the maintenance fees when you buy as well, and those are usually what? $400 a year, depending on point level and resort?

It just sounds way too good to be true. What am I missing here? If they are deeded, you get those same points every year for life and just have to pay the maintenance fee (and I assume property taxes of some sort)?

 

[ccgirl]

There is a website called TUG that is full of information specifically about timeshares. It is very helpful. I own a weeks resort in Hawaii with high trading power. A 28. You need a 25 to trade into WDW. You can split those points up into as many trips as you have points for before the points expire. Each one will carry the trade fee, which is a flat rate. Maintenance and taxes will probably go up every year. Mine have only gone up a bit. Again, this is a weeks resort so it will be different for points.

you might this thread helpful:
http://www.disboards.com/showthread.php?t=2172470

 

[tlenzendorf]

Forgive me if this sounds horribly naive, but I am confused as to how they are selling timeshare deeds for $5?

So, for $5 (plus a closing cost), you can get XXX points at a timeshare? I assume you'd have to pay the maintenance fees when you buy as well, and those are usually what? $400 a year, depending on point level and resort?

It just sounds way too good to be true. What am I missing here? If they are deeded, you get those same points every year for life and just have to pay the maintenance fee (and I assume property taxes of some sort)?

That's what I was thinking, too, so I've been watching them and yes, they are really cheap like that. Also why I'm doing a ton of research now as I don't want to get stuck in a money pit!

 

[Sinderelly]

the problem is you will never recoup the money -all you can hope to do is get out of the contract. Is it paid off yet? If so i would just look on ebay for sellers selling timeshares. Look for 1 with a lot of positive feedback and most likely the link to them will tell you they will sell for you also.

We don't want to make any money. It's all paid off. I never thought of Ebay to sell a timeshare. Thanks for the idea!

 

[tlenzendorf]

There is a website called TUG that is full of information specifically about timeshares. It is very helpful. I own a weeks resort in Hawaii with high trading power. A 28. You need a 25 to trade into WDW. You can split those points up into as many trips as you have points for before the points expire. Each one will carry the trade fee, which is a flat rate. Maintenance and taxes will probably go up every year. Mine have only gone up a bit. Again, this is a weeks resort so it will be different for points.

you might this thread helpful:
http://www.disboards.com/showthread.php?t=2172470

Thanks, I just joined TUG, so I will have to go over there and read up some also. How do you know what your trading power is? The one we are looking at is any red week(1-52) at the home resort or 50,000 exchange points.

Also thanks for the link to that thread! Also helpful!

 

[bankr63]

Hi tlenzendorf,

I am also a timeshare owner (3 weeks at two different resorts in Orlando area) who trades weeks (now often known as points light) on RCI (not REAL points, but they are quite similar). I would STRONGLY advise you to slow down and take your time.

The deal you mention ($1 but $300-$400 in closing) is good, but in today's market it is (believe it or not) not the best. That's about what I paid 3 years ago for the weeks I have now, and the deals are better now. Now some sellers of top notch resorts will throw in closing, or cover your first year maintenance. The main thing to remember is that this down market for timeshares is not going to turn around anytime soon, so you have time to make up your mind.

Now, most GOOD resorts in the Orlando area have maintenance fees in the $800-$1000/yr range (including property taxes) for a 2BR or 2BR lockoff, but they can be rented for considerably less. It is HIGHLY advisable to rent and try before you buy, and maybe rent forever. Now that you have found tug (www.tug2.net for the website and www.tugbbs.com for the discussion forums) you have also found a ready supply of eager renters. In the mean time, spend lots of time participating in Tug, they'll help you refine the best way to use your timeshare your way and how to find the best deal for you. The folks on the forums there are friendly and helpful like all the Dissers (sp?) here.

That same deal you see now on eBay was there 3 years ago, and will be there 3 years from now. Note that some of the lower end resorts are starting to struggle heavily as their owners default on mortgages and maintenance fees. Only a couple have gone under so far, but that is probably just the tip of the iceberg. A resort with really low MF's may not be bringing in enough to cover its operating costs, another potential issue. Folks on TUG will help you sift the wheat from the chaff.

Again, take your time to find the best deal on the best place for you, but in the meantime rent away. I strongly believe there is no better way to do Orlando than staying in a 2BR luxury villa with all the comforts of home.

 

[tlenzendorf]

Hi tlenzendorf,

I am also a timeshare owner (3 weeks at two different resorts in Orlando area) who trades weeks (now often known as points light) on RCI (not REAL points, but they are quite similar). I would STRONGLY advise you to slow down and take your time.

The deal you mention ($1 but $300-$400 in closing) is good, but in today's market it is (believe it or not) not the best. That's about what I paid 3 years ago for the weeks I have now, and the deals are better now. Now some sellers of top notch resorts will throw in closing, or cover your first year maintenance. The main thing to remember is that this down market for timeshares is not going to turn around anytime soon, so you have time to make up your mind.

Now, most GOOD resorts in the Orlando area have maintenance fees in the $800-$1000/yr range (including property taxes) for a 2BR or 2BR lockoff, but they can be rented for considerably less. It is HIGHLY advisable to rent and try before you buy, and maybe rent forever. Now that you have found tug (www.tug2.net for the website and www.tugbbs.com for the discussion forums) you have also found a ready supply of eager renters. In the mean time, spend lots of time participating in Tug, they'll help you refine the best way to use your timeshare your way and how to find the best deal for you. The folks on the forums there are friendly and helpful like all the Dissers (sp?) here.

That same deal you see now on eBay was there 3 years ago, and will be there 3 years from now. Note that some of the lower end resorts are starting to struggle heavily as their owners default on mortgages and maintenance fees. Only a couple have gone under so far, but that is probably just the tip of the iceberg. A resort with really low MF's may not be bringing in enough to cover its operating costs, another potential issue. Folks on TUG will help you sift the wheat from the chaff.

Again, take your time to find the best deal on the best place for you, but in the meantime rent away. I strongly believe there is no better way to do Orlando than staying in a 2BR luxury villa with all the comforts of home.

Thanks! I definitely haven't done enough research to buy yet. Renting for awhile is a good idea. We have rented someone's DVC for our upcoming trip this coming October. Because we really like the idea of DVC, we will either continue to rent or buy into RCI so we can exchange into DVC when we want to travel. I love the idea of having a great place to stay and sprawl out when we go on vacation. I get a little irritable if I'm stuck in a room with all 5 of us for more than a few nights. We vacation every year, so that is the plus side as well. If we can rent a condo for about the same as we could reserve a hotel room we might as well just rent so we can try out different places