Kings Creek Plantation - easy to rent? - Timeshare Users Group Online Community Forums

OringK · July 14, 2009, 08:51 PM

We are thinking of purchasing a timeshare in Kings Creek Plantation (Williamsburg, VA), and we were wondering if anyone could comment on how easy or hard it is to have a unit rent out there? The sales staff made it sound like just about everything rents out, but we'd feel better if we heard that from an owner. Thanks!

Patri · July 14, 2009, 09:58 PM

I wouldn't believe the sales staff, but maybe the owners' association could give you real statistics.

lisa1001 · July 14, 2009, 10:18 PM

I own there and I've never rented mine out, though they do take units back to rent for owners. I think they keep 30% as their fee, but I could be wrong about this. They will also rent out other units you may own with differnet companies as well, but again keeping 30%. I've surfed around ebay and have found that they do rent through that site. Bottom line after they take their cut and you pay the mf the rent won't cover the costs.

We really enjoy the resort, but I definately would not depend on rental income and certainly wouldn't be buying from the developer.

DeniseM · July 14, 2009, 10:37 PM

Many TS sales people will say whatever it takes to make the sale...

Many times they will tell potential buyers that they can rent for a big profit. If this was true, we would all buy dozens of timeshares and rent them out.

Because of the economy, travel is down, and many TS owners are reporting that they are having more trouble renting their units, and getting less money for them. In this economy, I would not buy with the intention of renting regularly.

If you can't use a TS every year, consider just buying an every other year deed. It will cost you less upfront and cut your maintenance fees in half.

wackymother · July 14, 2009, 10:47 PM

I own at King's Creek, too, but I've never rented our week. If you go to the KCP website, you'll see that the rental program is kind of complicated and your price depends partly on how early you give your week over to the program. And then I think you don't get paid for a looooong time.

I agree with Denise about the salespeople. BUT you can get a nice prime-time King's Creek on eBay for just a couple of hundred dollars now. If you buy resale, you don't need to worry about rentals so much. Good luck!

OringK · July 15, 2009, 03:57 PM

Thanks for the help. Asking the owner's association is a great idea. I'll have to look up their info.

I had conveniently forgotten the 30% "management" fee. Our hope was to buy a lockout, rent one half to cover the fees, and use the other for vacation. (I realize now that the net rent wouldn't cover all fees, but it would help, and we don't need the second week at this time.) We've been scoping out eBay - I think my husband might have seen the resale you saw. Definitely a better deal than the developer's.

Any insight on how easily the KCP timeshares trade on RCI/II? They seem to be highly rated, but I've read a lot of posts that indicate that a lot of people have trouble with trading. Anyone with KCP experience to share? Also, if you own a lockout, is it better to trade the whole unit, or is that a "waste" of a trade? Meaning, will I have better luck with getting a good trade if I trade all 3 or 4 bedrooms, or will it be the same as if I trade a 2BR? (I've read some posts that seemed to indicate that you mostly just get 2B anyway, so trading anything higher is a waste.) For my husband and I, the trading value will be the most important factor of the timeshare, and I want to make sure I understand how it will work - as realistically as possible - before buying.

Thanks again to everyone for their help!

DeniseM · July 15, 2009, 04:14 PM

Quote:

Originally Posted by OringK

Also, if you own a lockout, is it better to trade the whole unit, or is that a "waste" of a trade? Meaning, will I have better luck with getting a good trade if I trade all 3 or 4 bedrooms, or will it be the same as if I trade a 2BR? (I've read some posts that seemed to indicate that you mostly just get 2B anyway, so trading anything higher is a waste.) For my husband and I, the trading value will be the most important factor of the timeshare, and I want to make sure I understand how it will work - as realistically as possible - before buying.

Thanks again to everyone for their help!

I do not think that you mostly see 2 bdm. units available for exchange - many people split their lock-offs and make 2 deposits, so you see a lot more availability for 1 bdm. and studio exchanges, than for 2 bdms. It's much harder to find a 3 or 4 bdm. exchange. Do you really need to own a unit this big?

I can't advise on the exchange power of this resort, but with II, if you want to put in an ongoing request for a 2 bdm., you must deposit a 2 bdm. If you only deposit the studio/lock-off, then that's all you can request, unless the requested resort only had 2 bdm. units and that's not as common.

With an instant online exchange you can exchange a studio for a larger unit, IF it has enough exchange power, but that's a big gamble, it's often last minute, and you may not have the exchange power. If you have the exchange power, you are more likely to trade a 1 bdm. for a 2 bdm.

If you must have a 2 bdm., then you need to deposit a 2 bdm. and put in an ongoing request, at least 12 mos. in advance or as early as you are allowed to deposit.

If the trade value is the most important thing to you, then this might not be the best choice. If I was looking for a strong trader on the East Coast, with low purchase price and maintenance fees, I'd consider Sheraton Broadway Plantation, which will get you into the Starwood and Marriott Resorts on II.

For lots of info. about how II works, see the FAQ at the top of the TUG Exchanging Board.

I also encourage you to do a LOT more research before you buy! In this market, there is no reason to rush into a purchase. Good luck!

wackymother · July 15, 2009, 04:19 PM

I trade our King's Creek weeks in RCI, mainly because we live in the Northeast and usually want to stay in the Northeast, and RCI has more inventory there. I have been able to reserve a high-summer week every year, and they're moderate traders, or a bit more. Not a super trader, but we love Williamsburg and we plan to use our unit sometimes. We have a Cottage and always deposit it as a 1br and a 2br, to give us two weeks.

July 14, 2009, 08:51 PM	#1
OringK Guest BBS Reg. Date: Jul 14, 09 Location: VA Posts: 2	Kings Creek Plantation - easy to rent? We are thinking of purchasing a timeshare in Kings Creek Plantation (Williamsburg, VA), and we were wondering if anyone could comment on how easy or hard it is to have a unit rent out there? The sales staff made it sound like just about everything rents out, but we'd feel better if we heard that from an owner. Thanks!

July 14, 2009, 09:58 PM	#2
Patri TUG Member BBS Reg. Date: Jun 6, 05 Posts: 1,466	I wouldn't believe the sales staff, but maybe the owners' association could give you real statistics. __________________ Life isn't fair, but it's still good.

July 14, 2009, 10:37 PM	#4
DeniseM Moderator TUG Lifetime Member BBS Reg. Date: Jun 6, 05 Location: Northern, CA Posts: 14,068 Resorts: Starwood-WKORV, SDO, & SVR, Branson-Roark Vacation Club, Tahoe-Kingsbury Crossing, Kauai Beach Villas - 2 weeks	Many TS sales people will say whatever it takes to make the sale... Many times they will tell potential buyers that they can rent for a big profit. If this was true, we would all buy dozens of timeshares and rent them out. Because of the economy, travel is down, and many TS owners are reporting that they are having more trouble renting their units, and getting less money for them. In this economy, I would not buy with the intention of renting regularly. If you can't use a TS every year, consider just buying an every other year deed. It will cost you less upfront and cut your maintenance fees in half. __________________ DeniseM "Starwood is hired to administer reservations, clean the toilets, and take out the trash. They are not paid to interfere with owners' usage. They're acting as if they own the place." - Pit

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July 14, 2009, 10:18 PM	#3
lisa1001 TUG Member BBS Reg. Date: Jun 21, 05 Location: VA Posts: 107	I own there and I've never rented mine out, though they do take units back to rent for owners. I think they keep 30% as their fee, but I could be wrong about this. They will also rent out other units you may own with differnet companies as well, but again keeping 30%. I've surfed around ebay and have found that they do rent through that site. Bottom line after they take their cut and you pay the mf the rent won't cover the costs. We really enjoy the resort, but I definately would not depend on rental income and certainly wouldn't be buying from the developer.

July 14, 2009, 10:47 PM	#5
wackymother TUG Member BBS Reg. Date: Aug 1, 05 Location: NJ Posts: 2,605	I own at King's Creek, too, but I've never rented our week. If you go to the KCP website, you'll see that the rental program is kind of complicated and your price depends partly on how early you give your week over to the program. And then I think you don't get paid for a looooong time. I agree with Denise about the salespeople. BUT you can get a nice prime-time King's Creek on eBay for just a couple of hundred dollars now. If you buy resale, you don't need to worry about rentals so much. Good luck!

July 15, 2009, 03:57 PM	#6
OringK Guest BBS Reg. Date: Jul 14, 09 Location: VA Posts: 2	Thanks for the help. Asking the owner's association is a great idea. I'll have to look up their info. I had conveniently forgotten the 30% "management" fee. Our hope was to buy a lockout, rent one half to cover the fees, and use the other for vacation. (I realize now that the net rent wouldn't cover all fees, but it would help, and we don't need the second week at this time.) We've been scoping out eBay - I think my husband might have seen the resale you saw. Definitely a better deal than the developer's. Any insight on how easily the KCP timeshares trade on RCI/II? They seem to be highly rated, but I've read a lot of posts that indicate that a lot of people have trouble with trading. Anyone with KCP experience to share? Also, if you own a lockout, is it better to trade the whole unit, or is that a "waste" of a trade? Meaning, will I have better luck with getting a good trade if I trade all 3 or 4 bedrooms, or will it be the same as if I trade a 2BR? (I've read some posts that seemed to indicate that you mostly just get 2B anyway, so trading anything higher is a waste.) For my husband and I, the trading value will be the most important factor of the timeshare, and I want to make sure I understand how it will work - as realistically as possible - before buying. Thanks again to everyone for their help!

July 15, 2009, 04:19 PM	#8
wackymother TUG Member BBS Reg. Date: Aug 1, 05 Location: NJ Posts: 2,605	I trade our King's Creek weeks in RCI, mainly because we live in the Northeast and usually want to stay in the Northeast, and RCI has more inventory there. I have been able to reserve a high-summer week every year, and they're moderate traders, or a bit more. Not a super trader, but we love Williamsburg and we plan to use our unit sometimes. We have a Cottage and always deposit it as a 1br and a 2br, to give us two weeks.