How long has the $100 LMRental fee been in place & how much has yours gone up since?

[Tank]

There is a thread going on, is redweek dead, has some interesting comments.

Raised some questions and would be interesting to find some answers.

I love the Last minute rental section , and do not wan't to loose it.

1) How long has the $100 last minute rental fee been in place?

2) Long time tuggers , what were you paying for assessments at that time?

3) How much has the assessments gone up since that $100 a night was established ?

4) Why is it so low, the $100 a night ?



Will be interesting to see some comparisons


I go back to 1999 myself ,
My 2 bedroom HIVC unit East village was $500
This year it was $950

 

[SueDonJ]

Just wondering...why the $700 limit for last minute rentals?

That's a link to one of the threads about this topic - it gets discussed every once in a while.

I like that the the Last Minute Rental board doesn't function as anything other than a place to put/find distress ads, sort of similar to the Sightings forum but LMR is open to TUG guests as well as members. Any ads priced higher than the LMR restrictions can be put in the TUG Marketplace, and I hope that the Marketplace activity doesn't ever morph into the public forums.

That's my take, no doubt others will disagree.

 

[LannyPC]

Maybe my fee's are just really high @ Orange lake. $376 loss if my vacation falls thru to get it rented.

This year it was $950 plus $126 membership fee = $1076.00

RCI membership isn't mandatory so, IMHO, I would not consider it a $376 loss but rather a $250 loss. I know that doesn't make you feel much better but that's just my opinion. YMMV

BTW, how does that $950 break down? How much is property tax? Did they include the much-maligned ARDA contribution?

 

[Tank]

One could keep the fee in , or take it out, The fee was always mandatory for using Orange Lakes system. It is still a cost factor.

I feel it is a good deal for my weeks vacation, that is why I bought.
A good deal to me would be to snag your vacation week @ your cost, if it's a place I wanted to go.

Still like to see some comparisons of MF increase & how much paying for what size units at least 16 years ago.

From reading the other thread 2 years ago it has been at least 16 years now.

 

[tschwa2]

LMR has become a site for truly last minute cancellation type rentals of some of the larger nicer units and it has become a regular marketplace for all of the smaller and cheaper MF type places where owners can rent and still make a profit. If you want to use it that way as a regular marketplace posting within the 60 day limit, luckily you have points that can book smaller units or weekday reservations only. You also can purchase points protection and cancel fairly last minute if it doesn't rent. Wyndham owners can cancel up to 14 days prior.

I would like it upped a bit for 2 br and larger units but moderators feel it would be too hard to police. So be it.

 

[Tank]

so what increase have you had in the last 16 years ?

I did read that link from 2 years ago

 

[ronparise]

Its been $100 for as long as Ive been here

This is a place to put the use it or lose it stuff. In my case to put what hasn't rented at my price, advertised elsewhere

Instead of comparing $700 a week to your maintenance fees, compare it to zero, because thats what you will get if it doesnt rent

 

[SmithOp]

Its a 45 day limit, not 60.

I've rented several, I would probably pass if the cost was higher because as a renter I have to go out of my way to book last minute travel. There has to be an incentive, otherwise I would rent something in the marketplace further in advance.


Sent from my iPad Mini 4 using Tapatalk

 

[Sattva]

Would be sooo great to have a 1BR or smaller limit of $100/night.

And a 2+BR limit of $150/night.

Would get a lot more traffic, use, and relief for those needing to recoup fees and find a last minute place to stay.

The current limit keeps the premium units off the board IMO, and I am sure others will disagree

 

[am1]

A lot of junk ends up on there because of the cap. My thought is if the limit was raised it would push down the price of a lot of low demand stuff as it would have to compete with higher demand units that would now be placed on there.

If anyone could move last minute inventory in volume they would be a millionaire. The market is still very inefficient.

 

[DavidnRobin]

Tank - I see your point. I have always wondered why the LMR continues to have a max price ($100/nite) since 'forever' yet MFs have increased significantly and continue to increase which truly should be the basis for the LMR max.

Since 2006 alone - my MFs have increased >50%. I assume most others' MFs have increased >50% over the last decade. Yet, LMR stays the same.

IMO - a small increase in LMR is probably an overall benefit as it may bring better TS weeks onto LMR, and be more useful to more people.

Of course, I realize that with TUG - change equals not good...
as shown in the previous threads on this topic. One of the main ones is that more 'commercial' people would be using it (already happening...), but there are ways to limit the number of these commercial postings.
of course, I suspect same arguments, but in reality - this $100/nite rate is archaic and should be revised to reflect the present and not the past.
IMO

However, I do not expect anything to change given the general make-up of TUG members

 

[ronparise]

A lot of junk ends up on there because of the cap. My thought is if the limit was raised it would push down the price of a lot of low demand stuff as it would have to compete with higher demand units that would now be placed on there.

If anyone could move last minute inventory in volume they would be a millionaire. The market is still very inefficient.

The junk is here not because of the cap, The junk is here because this is the junkyard... It here because it couldnt be rented through other means>> and "Cant be rented" is the definition of junk in my book


another point... Tuggers are cheap, put on a $200 limit and they will try to talk you down to under $100 anyway. For many its not the vacation thats important thing. The important thing is winning the negotiation

Bottom line: maintenance fees aren't whats important when setting a price. The market is whats important.

 

[vacationhopeful]

The junk is here not because of the cap, The junk is here because this is the junkyard... ......

Ron has a different take on the LMR thread. Perhaps, there should be 2 threads for Distressed timeshare weeks... the Junkyard and the Penthouse.

The "Junkyard" where the maximum rental is $350 for 7 nights within the 30 days of checkin (a Public thread) and "Penthouse" within 60 days of checkin with a $150 per night maximum (a TUG member benefit) ... but deleted by the Moderators 15 days before checkin. But they can be re-posted in the "Junkyard".

As for TugBrian ... having a thread for "Penthouse" rentals WILL increase your TUG membership rolls.

 

[TUGBrian]

already have a place you can post any ad you wish, its the marketplace.

this discussion comes around every few years and the line is still drawn between half the folks who want it changed, and the other half that want it to remain.

no matter what is decided some folks are going to be mad, and other happy.

 

[DavidnRobin]

as said... ain't going to change
not just MFs, but also cost of hotels, traveling, etc over the last decade have increased - but not LMR...

not mad - it doesn't really matter to me - not going to put up my TS weeks on LMR anyway (so no skin in game as some others do, and seem to drive the discussion...), but always felt the argument to keep status quo flawed. IMO

simple poll: Should LMR be increased? Yes, No.

 

[TUGBrian]

not sure its any less flawed than the "lets change something thats been working for nearly 20 years" because folks want to list more expensive rentals in the LMR section. As also mentioned before, there is still a place you can post your rentals that is not subject to the 100/night limitation...and it gets FAR more traffic and successful rentals.

there are valid arguments for both sides of the debate.

 

[Sattva]

It is way past time

but always felt the argument to keep status quo flawed. IMO

simple poll: Should LMR be increased? Yes, No.

Agreed on both comments above.

Fact that it has been the same for 20 years and MFs have gone up is response enough to raise the minimum. At some point it is just the reasonable thing to do regardless of whether ppl are happy or not.

 

[Tank]

"this discussion comes around every few years and the line is still drawn between half the folks who want it changed, and the other half that want it to remain."

Maybe its time to please the other half after 20 years !

Keep it simple, we know what is junk, they are not asking for those.

Could be as simple as two threads , one for studio's and 1 bedrooms
One for 2 bedroom and higher

 

[TUGBrian]

the only reasonable compromise ive seen was to adjust it to fit the average annual maint fee, which currently sits somewhere just north of 800 dollars...meaning it would go up from 700/wk...to 800/wk

it was of most folks opinions that this difference really didnt matter much, thus not only making the folks who want it to remain at 700/wk unhappy, but also not pleasing those folks who wanted it raised.

 

[vacationhopeful]

the only reasonable compromise ive seen was to adjust it to fit the average annual maint fee, which currently sits somewhere just north of 800 dollars...meaning it would go up from 700/wk...to 800/wk

.... <snip>

Average MF is just north of $800 per week? Really?

My fixed studio weeks are within dollars of $900. My fixed 1bdr units are north of $1050. If they are in the Wyndham points system, ADD another $72 to the ST, $88 to a 1bdr, and $116 to a 2bdr.

Plus the $99 Guest Certificate on ALL those weeks where I am not checking in. And I don't think of Wyndham units are being TOP SHELF ... not a slum, but not in the same class as Marriotts, Starwoods, Hyatts or Hiltons.

When choosing as to WHERE to spend my advertising dollars, TUG gets me the fewest leads, the MOST low ball offers, and the very LOWEST percentage of closed deals.

Actually, with Wyndham's lastest set of rule changes ... I will cancelling EVERYTHING not booked at the 15 day mark ... the reason: overlapping reservations are being cancelled by Wyndham with forfeiture of the points (flushed down the toilet) if a $99 guest certificate is NOT BROUGHT. And the LMR website listing hundreds of cheap reservations (perhaps bulk dumping) by one particular commercial activity... almost like a Honey Pot to attract flies.

 

[TUGBrian]

yes, the average MF of timeshares was last reported at like $8xx or so.

advertising on the TUG LMR forum should cost you zero advertising dollars, as its free for everyone to post.

 

[Tank]

I have no clue what others PM's are , no ones posting

but on another thread a regular posted this
I would say that most timeshares are in the $700 - $1,400 per year range, and some are over $3,000 per year.

thats pretty far NORTH
__________________

 

[timesharejunkie4]

This is a place to put the use it or lose it stuff.

Instead of comparing $700 a week to your maintenance fees, compare it to zero, because thats what you will get if it doesnt rent

Well said Ron. TUGBrian's comment of "already have a place you can post any ad you wish, its the marketplace" is a good solution for those that want to try to get more.
I don't understand the logic if those who say that good resorts are not put on LMR for that price. Again, isn't $700 better than nothing if all options that can yield a better price have been exhausted???

 

[TUGBrian]

I have no clue what others PM's are , no ones posting

but on another thread a regular posted this
I would say that most timeshares are in the $700 - $1,400 per year range, and some are over $3,000 per year.

thats pretty far NORTH
__________________

ARDA releases their global timeshare statistics every year...average annual maint fee is one of the metrics they track.

its not like im just guessing at numbers =)

 

[vacationhopeful]

.... Again, isn't $700 better than nothing if all options that can yield a better price have been exhausted???

YOU don't get offered $700 on the LMR ... the offers are much lower. And YOU, the owner, spend time and energy replying. I get phone calls, PMs, posts to the thread saying,"Sending PM" ... I do NOT live on my computer and my cell phone does not like the multiple windows to read PMs ... which is WHY I post my phone number many times. And MOST of those important messages are "I need a only FRI-SUN will you take $150?" or "best I can do is $200 for as I have to buy plane tickets for 5 people" or "I need different dates" or "can you get me a larger unit for the same price but the following (holiday) week?" Or another favorite is "Can 6 people fit in the studio?" And the closing the deal lines include "something is better than nothing!"