Should I rent or sell?

[windtide]

My wife and I need to cut costs, and as much as we do not want to we need to reduce our costs with regard to our DVC membership. Is there a re great demand for renting, how easy is it to do? I have a lot of sale questions to ask also, but I beleieve that is inappropriate to do in thisa forum.

 

[Brian Noble]

Sorry to hear about your circumstances.

Right now, it still seems to be a buyers' market for resale deeds, though it can depend on exactly what you own. In general, I suspect it is wise to rent out for a little while until the economy fully recovers---I expect most resorts will see an increase in resale value at that time. But, no crystal ball.

If this is just a bump in the road, it would be nice to be able to still have those points for your use when your personal situation recovers. If this is likely to be a more permanent thing, then it might be better to have the cash on hand.

 

[windtide]

Brian it is a bump in the road for probably the next two to three years. What can I expect from renting?

 

[simmons_m]

I have not used them, but there is a sponsor on the rent/trade board that may be able to help you with the numbers. I have seen rental points available between 8 and 12/per point. I am not sure if they are renting at that level.

Mike

 

[A_Princess'_Daddy]

I'm sorry to hear of your difficult time. I hope it gets better for you!

Anecdotally I can tell you that, on this board at least, there seems to be a high demand for rentals. My family and I rented points for our recent stay at BWV, and we had to pounce the minute a listing was put up in order to get them (we tried several different renters who were sold out before we found one with enough left to rent). We actually just bought a contract because we didn't want the stress of worrying whether we'd be able to rent them in the future.

That having been said, it was a limited experience and it was several months ago. It still seems like lots of postings go up on this board every day and get lots of responses. I'm not sure I'd try to start the rental process a couple weeks before the points expire, but with enough lead time, it seems like lots of people are moving them.

Good luck!

 

[ilovediznee]

To the OP, we have rented several times, including a reservation we already had earlier this year due to finances. There are many ways to rent - meaning renting an existing reservation or just renting the points, but you have to know the ins and outs.

Thanks and good luck - Diane - Lexington, SC