Owning a timeshare comes with many perks, but primarily, it gives you the opportunity to access a resort or larger property that you love, by just owning a small part of one condo or apartment. Rather than owning the space outright, you own it for a certain amount of time per year; the rest of the year, others own the timeshare and use it as they’d like.
Some use their timeshare exclusively for themselves, while others rent out their timeshare on popular home rental sites like Airbnb or VRBO.
While some complain that a timeshare means you’re constantly traveling back to the same spot, year after year, that’s actually a big plus for some travelers, who love re-visiting their favorite beach, island, ski town or theme park. Additionally, many millennials are now more interested in timeshares than ever, due to the extra privacy and personalization a timeshare offers over staying at a traditional hotel.
You can purchase a timeshare from an individual owner, timeshare developer or outright from a resort. Then, when it comes time to sell, if you make that decision, you can do so by yourself, via several timeshare selling platforms. Buying from an individual owner versus a property developer or resort often leads to a better price (as you can avoid some fees).
Whether you’re looking to buy a new timeshare or sell your timeshare outright, here are a few companies that will allow you to do so with ease.
RedWeek is a kind of DIY timeshare buying, selling and renting platform. If you’re buying, you can search RedWeek for timeshare resales by location or a particular resort name. When selling, you just post your timeshare resale on the RedWeek website, receive offers via email and then finalize the transaction. If you want to rent your timeshare versus just selling it, so you can make a little more income off the property when you can’t use it, you just post the rental on RedWeek as you would a resale.
However, RedWeek also offers a full-service rental option, where RedWeek manages the rental for you, from posting to fielding inquiries to processing payments. Do keep in mind, though, that even if you use a platform like RedWeek, you may still be restricted from renting out your timeshare, especially if it’s located in a resort, so you’ll want to check with the property owner first.
SMTN, or SellMyTimeshareNow, is one of the most well-known timeshare buying and selling platforms on the web, facilitating hundreds of millions of purchase and rental offers to timeshare owners each year. Buyers can look through available timeshares, searching by resorts, brands (in case, for example, you know you want to buy a Hilton or Marriott timeshare and destinations). You can search timeshare rentals the same way.
For owners, SMTN offers a selection of resources to help you rent and sell, including timeshare valuations and timeshare donations to charity (yes, you can donate your timeshare to a charitable organization).
There is not an option for SMTN to take over the processing of your rental for you, like RedWeek offers, but SMTN’s heavy traffic might outweigh this possible con for some owners.
THE BRANDS YOU ALREADY KNOW AND LOVE
Of course, you likely already know that you can buy timeshares with luxury hospitality brands that you’re already familiar with, such as Hilton, Marriott, Four Seasons, Wyndham and more. However, if you go directly to these brands, you only have the opportunity to buy a timeshare. They don’t offer a marketplace for you to then sell your timeshare to another owner.
However, this option of purchasing might be preferable to some shoppers who want to deal with a trusted brand, versus an individual, even if it means often paying a higher price.