Red Week 2023 (2024)

FAQs

What is the success rate of RedWeek rental? ›

Full-service rental postings for check-in dates within the first three months had a 75% success rate! Your odds of getting your week rented were a full 28% better if you used full-service rather than DIY with online booking. Renters continue to be drawn toward the RedWeek verified, and especially online bookable weeks.

Rentals that use RedWeek's online booking system have built-in payment protections. If going it on your own, we encourage you to do some research before beginning with any transaction, and take steps to ensure your protection. Verify the person you are dealing with either owns, or has legitimate control of the week.

Red week: Refers to the prime season to visit a particular resort. RedWeek.com allows members to post red weeks as well as weeks that fall in other seasons. Resale: Refers to a timeshare interval that an owner, resort, or agent is selling after being originally sold during the initial sales at that resort.

Airbnb. Airbnb is not only the most popular and trusted vacation home rental website, but it's also the fastest growing. The company has over 6 million vacation rental listings worldwide in more than 220 countries and regions.

An ARDA survey found that 85% of owners are happy with their purchase. But another study by the University of Central Florida found that 85% of buyers regret their purchase. So which 85% would you be a part of? Each case is different, but here are some factors to consider if you are considering buying a timeshare.

A frequently asked question by timeshare owners is, “can I rent out my timeshare?” The answer is generally yes. Most timeshare owners can safely rent out their weeks or points by using a marketplace such as Timeshares Only.

Timeshare Exit Companies

Similar to a house mortgage and deed, you can't just cancel them. Paying an exit company or lawyer upfront fees to get you out of your timeshare agreement is not the best route to take. They claim you pay a few thousand dollars now, but you will save money in the long run.

Negotiate: Because you are dealing directly with the timeshare owners and not the resorts, prices are often flexible. Ask if the rate is negotiable, or make an offer less than the asking price.

Are timeshares Really Worth It? ›

You might be surprised to learn that timeshare properties aren't considered investment properties. In fact, they usually decrease in value with time. This is why a timeshare might not be ideal for a buyer looking to eventually make money from selling a property.

It's never a good idea to stop paying your timeshare without consulting an attorney or understanding the consequences of such actions. If your developer refuses to work with you and the alternatives they propose aren't viable, know that you are not alone.

If you own the traditional fixed-week timeshare, you are generally eligible to vacation at your resort for the same week every year. Timeshares work on their own calendar, so each week is given a number. So, if you own Week 1, you likely own the first week of the year in the form of a fixed-week timeshare.

Some timeshares also offer "flexible" or "floating" weeks. This arrangement is less rigid, and allows buyers to choose a week or weeks without a set date, but within a certain time period (or season). The owner is then entitled to reserve a week each year at any time during that time period; subject to availability.

ARDA says the average cost of a timeshare that a buyer can use for one week a year is $24,140. But that's just to buy in. Owners are also pay annual maintenance fees, which typically run into the thousands of dollars.

While what constitutes a 'good' rate can vary depending on an individual's investment strategy, location, and market conditions, generally, a return between 6% and 8% is considered decent, while a return of 10% or more is viewed as excellent.

Funds are usually available immediately, depending on your PayPal account settings and/or age. Please note: the email address must match your Redweek.com email address. Wire: We can wire your funds for a $45 fee, deducted from your payout (your bank may also charge a fee for this service).

Having researched this fact, Thursdays are seen as the best day to upload the listing. Thursdays are also desirable because potential tenants can visit the home either the same day or over the weekend. It might be a good idea to avail yourself during the evenings to show off the house to potential renters.