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Just rented my TS at WKORV-N

Ågent99

Ågent99

TUG Member
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I don't know if there is an on-going thread in regards to this but I just wanted to let the site know that I finally rented my TS...more as an FYI.

I was able to move my dates to Jun 27 -Jul 4 and get a 2-BD/LO.

I originally had 2 weeks (studio and 1-BD) from Jul 4 - Jul 18.

Now the slightly interesting part. They did not have a 2-BD/LO available at WKORV-N but did have one at WKORV so that is where my renters are staying.

I was able to get $2700 for the rental. It is lower than I wanted (but when is it ever MORE than one wanted?! :p )

It covers the MFs with some spare change so I guess I'm happy. :whoopie:
 
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Is that an island view at WKORV? What do you own at WKORVN?
 
Yes, that is an IV. I made a request, of course, to upgrade to OV but I made sure the renter knew that it was not guaranteed.
 
Where did you advertise to find your renter?
 
Most likely island view

If all I have learnt from Tug is correct, this would be island view because it is less than 8 month out. Even you own ocean front premium, you lose the view when using staroption after the home priority period.

I also had a renter approach me for a low ball offer of a two bedroom, low 2K. I declined cause I would use them for myself for the maintainence cost.
 
shopfordeal said:
If all I have learnt from Tug is correct, this would be island view because it is less than 8 month out. Even you own ocean front premium, you lose the view when using staroption after the home priority period.

I also had a renter approach me for a low ball offer of a two bedroom, low 2K. I declined cause I would use them for myself for the maintainence cost.
Click to expand...

I advertised for 3.5k starting maybe 4-5 months ago. I dropped it to 3k maybe 2 months ago.

I was contacted and asked if price was negotiable and so I dropped to 3.25k.

More haggling and I dropped to 3k. Then I said, 2.9k and no more. I didn't hear from the guy for a month then got an email today asking me if I would meet his original 2.7k.

Obviously, I bit.
 
FYI, I had two offers of $3500 for my week, and I countered with $3800. We aren't in a hurry to rent. I think anything over our expensive maintenance fees is great, so congratulations :) . We have a backup plan to use our week if I don't rent it out.

Last year, I rented my friend's 2 bedroom villa out for $4200. These are definitely tough economic times. At least airfare to Maui seems to be coming down quite a bit!
 
This is my first rental of my TS since we bought it in July, 2008 (yes, I am one of the numbnuts who paid the developer's price :doh: ) and so this is my first go-around with getting it rented.

I got to thinking that because of the economy, I had better reel in the fish when it bit a second time. I will also admit to getting a little scared and impatient and concerned.

I hope others can do better but at least we have another data point!
 
I just received the balance of the payment for renting my WKORV-N units that I mentioned in the other thread. I also got $4,200 for a 2BR and $2,600 for the a 1BR at WKORV-N for this coming April. The studio by itself also rented for $1,800 earlier (I gave a discount for the two units together). However the original deal was struck before the financial meltdown last year. I don't know what is possible today, but I'd be looking for something at least close to 2x the maintenance fees. The key is to be patient and include a comparison in the ad. It might be more difficult on TUG, but I had good luck with craigslist.

It is still a great deal for the renter to get a 2 BR for $3,600+, considering if you go to Starwood directly it would cost $339/nt ($2,373 for 7 nights) for IV studio and $480/nt for IV 1BR ($3,360 for 7 nights) and you might end up with IV parking lot views at the orivginal WKORV. You also need to add a pretty high tax rate on top of the hotel prices (11.41% accroding to the SPG site). These rates are fully pre-paid non-refundable this coming June. If you get a regular hotel rate (Starwood calls it "Best Available"), then you're looking at $360 + tax/night for the studio and $465 + tax for the 1 BR - over $6,400 for the week in a 2BR, including the tax. Last year this total was over $7,500 so $4,000+ was a good number.
 
Agent99,

I think in this economy that $2700 was great. Congrats on your rental and I hope everything goes smoothly.

And don't feel too bad about buying developer. Many members here did the same thing before we learned the truth about resale. At least with TUG we get a lot out of our ownership as opposed to being lost in the dark :eek: like many poor t/s owners!

Cheers and thanks for letting us know!
Janna
 
emuyshondt said:
I just received the balance of the payment for renting my WKORV-N units that I mentioned in the other thread. I also got $4,200 for a 2BR and $2,600 for the a 1BR at WKORV-N for this coming April. The studio by itself also rented for $1,800 earlier (I gave a discount for the two units together). However the original deal was struck before the financial meltdown last year. I don't know what is possible today, but I'd be looking for something at least close to 2x the maintenance fees. The key is to be patient and include a comparison in the ad. It might be more difficult on TUG, but I had good luck with craigslist.

It is still a great deal for the renter to get a 2 BR for $3,600+, considering if you go to Starwood directly it would cost $339/nt ($2,373 for 7 nights) for IV studio and $480/nt for IV 1BR ($3,360 for 7 nights) and you might end up with IV parking lot views at the orivginal WKORV. You also need to add a pretty high tax rate on top of the hotel prices (11.41% accroding to the SPG site). These rates are fully pre-paid non-refundable this coming June. If you get a regular hotel rate (Starwood calls it "Best Available"), then you're looking at $360 + tax/night for the studio and $465 + tax for the 1 BR - over $6,400 for the week in a 2BR, including the tax. Last year this total was over $7,500 so $4,000+ was a good number.
Click to expand...

I guess one never knows. I wonder how many people actually pay the "direct price" for a room anyway? I bet it is akin to asking a fully-loaded 747's passengers what they paid: nobody will match or it might be difficult to get a good apples to apples comparison. Maybe next time (2011?), I will be more patient.

I think for fun, I will put an ad out for 2010 times and see what happens....
 
applegirl said:
Agent99,

I think in this economy that $2700 was great. Congrats on your rental and I hope everything goes smoothly.

And don't feel too bad about buying developer. Many members here did the same thing before we learned the truth about resale. At least with TUG we get a lot out of our ownership as opposed to being lost in the dark :eek: like many poor t/s owners!

Cheers and thanks for letting us know!
Janna
Click to expand...

Thanks and I'm beyond worrying what I paid for my TS. I'm just enjoying/using it now. It's all water under the bridge...'cept fer those darn MFs that keep going up...but that is in another thread! ;)
 
Well, you know what they say about "bird in the hand." I do think $2700 is the lower part of rental rates for WKORV and I hope most people get more for it, especially a 4th of July week. But I might have taken it too just to have the guarantee of the rental.

No one has even made an inquiry about my week! I wonder if I will end up dropping the price a bit too. I have it advertised for over $3000 as I am in no hurry to rent it either.

Kath
 
you did well. I found an owner on Redweek last year to rent their OV for $2500 for my sister's family.

They were asking $3K but since I was previously going to rent a 3 bd condo (away from the beach) at the kaanapali Plantation (privately owned) for about $2100 (my dad was paying) so I bartered with them a bit. I really wanted everyone on the same property and they accomodated my $2500 price.

The trip was great and my sisters family was in room 7481 & 7482 (quiet side). We own IV and got that but could see the ocean past the pools and really enjoyed our view from 7463 & 7464. Thankfully we were on the same floor. ..those halls were horrible to navigate (until we found the stairwell and had much easier access to the roof parking and getting to and from our car from our room).

[Specifics that may be interpreted as solicitations, deleted - DeniseM Moderator]
 
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