In March 2014, I submitted my 2015 week for Ko Olina 2BR OV for their rental program. They offered $1770 for my week. This was back when the the MF for 2015 was $1951.84. In 2015, the MF broke out to $1552.30 for Operations, $241.43 for Reserves, and $151.11 for Taxes. I declined their offer however for a $180 difference, it wasn't that bad if I really needed the money and couldn't use the week. My guess is that they would also report any proceeds to the IRS and may be subject to taxation.
I will likely submit my 2019 week for the rental program just to see how much they are offering now.
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Dear Steven Ting:
This letter is to confirm you have selected to rent your 2015 Marriott's Ko Olina Beach Club week, Platinum season to Marriott Vacation Club for a rental fee of $1770*.
Please complete and sign the form below in its entirety then return it postmarked by March 20, 2014, to:
Marriott Vacation Club International
Attn: Rental Department
310 Bearcat Drive
Salt Lake City, UT 84115
USA
We will also accept the form by fax
801-832-4529. If you would like to receive your rental amount via electronic funds transfer (EFT) U.S. Banks only. Please
click here to download our EFT authorization form. Return the completed EFT authorization form with the Rental Acceptance form below. Either an EFT for the rental amount will be initiated or a check for the rental amount will be mailed to you in two to three weeks (four to eight weeks for International Owners) of receipt of the signed Rental Acceptance Form within the required time period listed above.
Please note that once the Rental Acceptance Form has been signed and returned to Marriott Vacation Club, you no longer have the right to cancel it. If the Rental Acceptance Form is not returned within the required time period, please be aware your rental reservation may be canceled. If you have any questions regarding the Rental Acceptance Form, please call
800-443-4391.
Thank you,
Manager, Owner Relations
*This amount is net before taxes, including a 1.3% Aruba Tax withholding for Aruba rentals only. If Owner is a non-resident alien (as defined under the U.S. Internal Revenue Code), Marriott Vacation Club is required by law and current international tax treaties to withhold thirty percent (30%) of the rental proceeds, and such amount shall be deducted from Owner's rental proceeds and handled as required by the Internal Revenue Service. If Owner is a non-resident alien, any proceeds from this transaction will be reported on a Federal 1042-S Form. Forms to file with the Internal Revenue Service can be obtained through a United States Consulate or directly with the Internal Revenue Service. If Owner believes an exemption or reduction from withholding applies, or that the applicable regulations changed after acceptance of this Agreement, Owner should submit all documentation to Marriott Vacation Club International for consideration. If Owner is a U.S. person (including a resident alien), pursuant to Revenue Ruling 54-571, C.B. 1954-2 (235), any proceeds from this transaction will be reported on a Federal 1099 Miscellaneous Income Form and will be subject to taxation in accordance with current Federal Tax Law. In addition, any unpaid fees to the Association may be deducted from this amount, if applicable.
PLEASE NOTE: The Social Security Number provided on the Rental Acceptance Form must be that of the individual who is executing the Form and said individual must be reflected on the title of the timeshare estate being rented. The individual signing the Rental Acceptance Form warrants that all owners of the timeshare estate being rented have authorized the execution of the Rental Acceptance Form. If said individual is a Resident Alien, then he/she may provide an Individual Taxpayer Identification Number. Corporations and other businesses must provide their Employer Identification Number in the W-9.
I, ______________________________ have selected to rent my 2015 Marriott's Ko Olina Beach Club week, Platinum season usage to Marriott Vacation Club for the agreed amount of $1770*. By signing this Rental Acceptance Form I agree to all the provisions included in the letter accompanying this Form and warrant that all information below is accurate. Once this form is signed and returned to Marriott Vacation Club I no longer have right to cancel it.
Signature:__________________________________________________
Please complete the following:
Name: ____________________________________________________________________
Business name (if different from above):__________________________________________
Check appropriate box: Individual/Sole proprietor Corporation Partnership Other
Address:___________________________________________________________________
___________________________________________________________________________
Social Security Number (if an individual): ___ ___ ___ - ___ ___ - ___ ___ ___ ___
Tax Identification number (if an entity): ___ ___- ___ ___ ___ ___ ___ ___ ___
Questions or comments about your Marriott Vacation Club Ownership? Please visit
My-VacationClub.com.
