The reason for a direct exchange is for trading use for use without an intermediary. If I did a direct exchange, I would NOT be letting the other party rent out my week, which is what you want to do. First, you're not the owner so you wouldn't be allowed to add the rentor/guest. You would have to have the owner do it. Second, the potential liability opens up a huge can of worms for both you and the other owner. Third, assuming you got past the first two, if the rentor wanted to check the ownership before going through with the rental, they would find out you're a third party.
Originally Posted by gandalf252002
Last edited by djyamyam; 09-14-2012 at 11:51 PM.
I don't think this individual would be conscerned about me renting out her week, or is that knowledgeable but you make a very valid point, but that would be a whole other story as this will likely become irrelevant.
When the proposal was first made, I thought it was 2BDM for 2BDM. Now I find out that they want to give me a 1 BDRM for my 2 BDRM. Even at that they are hedging their bets and still putting in a request with II and would Atlantis to the search and then will trade with me if they cannot get something else.
I would rather have forced myself to try and use it, but don't think this person is commited to any one strategy and I'm not taking any chances. Even after I said that travelling in 2013 was not going to be possible, they said they would try and get me Dec 10. Gut feeling tells me its not worth it, so I'll pass and wait for my CMV to come in. There are other ways to get to Atlantis and I would like to try and help this person out.
Perhaps I'll just recommend that they rent out their week and I'll make a reservation at mine and they can pay me cash!
Originally Posted by djyamyam
Gandolph (currently watching Lord of the Rings-so I like your userid)
We had a similiar situation this past Easter. We gave up a prime Ocean City summer week for an Easter week at Sheraton Vistana Resort. While it seemed like a downtrade for us, when we decided to head to Orlando it was last minute and availability was in very short supply, actually non-existant. Our vacation came first and after our vacation, I started to worry about what would happen if she had to cancel her summer vacation for whatever reason. I honestly did not know how we would have handled it. We did not do any kind of signed contract and I think that we should have. Something detailing what would happen in the event that one party cannot take advantage of their portion of the direct exchange.
The purpose of the direct exchange is to get an exchange without paying extra fees, but to also get an exchange using timeshares that you have already paid the fees on, so that you have no additional money out of pocket.
Your situation sounds similiar to ours. They have a week with a technically higher demand, but you have a unit with currently a low supply. I think alot also has to do with maintenance fees. If they are getting you a Harborside using Harborside's options that have extremely high maintenance fees compared to practically anything else, then I think they should rent their own unit out and then rent from you. But if they are using Starwood options from a property that has maintenance fees that may be comparable to yours, then you may be able to get this to work. Where I see a problem is looking to make a profit from what ever week you exchange from each other.
If the other party could not have used our summer week, I am not sure that I would have allowed them to rent it. I probably would have taken it back and rented it ourselves. Then either tried to find them another comparable exchange from what we own or in the end maybe tried to give them a reasonable compensation. On the other hand, if they were dealing with an exchange company and they could not use the week, then they may have been totally out of luck and not received any compensation. Also, if they cancelled last minute with me, I would be out of luck, as it would be too late to deposit the week and possibly too late to get a renter for it.
Those were all the thoughts that went through my mind AFTER we took our portion of the exchange. As you know AFTER is not a good time to be addressing those issues. I think if you make out a detailed written agreeement that covers all possiblities then you should be able to work it all out. After all, it is just like a rental, only the two parties are not using cash for the transaction.
I know I am probably rambling, but hope some it helps. Good luck!
Hey, if all else fails, I am looking for a Harborside direct exchange for May 2014, we could do a 3 way - oooh sounds kinky!