A timeshare is a fabulous investment for those who want to be able to schedule a vacation in their favorite spots around the world. However, sometimes this scheduled vacation time may not fit into your busy life. Instead of letting your timeshare sit unoccupied or throwing in the towel and selling your timeshare, consider these popular alternatives: Renting Your Timeshare Instead of selling your timeshare, consider renting the unit instead. Contact a real estate agency in the area of your timeshare that specializes in renting condos, timeshares, or vacation homes, as they may be able to quickly match your unit with an eager tenant. Most vacation oriented destinations have agencies that specialize in this sort of real estate, allowing you to leave the hassle to someone else. Keep in mind that if you choose to rent your timeshare through an agency, there will be associated fees. Many timeshare owners rent their timeshare themselves, in order to avoid paying any agency fees. Ask you family members, friends, neighbors, or co-workers to see if anyone around you is interested in renting your timeshare. This set up usually works the best, since both parties benefit and you can ensure a reputable party will be using your timeshare. If you are having difficulties finding someone to rent your timeshare, turn to the classified advertisements or the World Wide Web to find a renter. eBay maintains an active marketplace for timeshare rentals. Swapping Your Timeshare Timeshare swaps are increasing in popularity, with timeshare owners finding their location or time does not fit into their busy schedules. Many timeshare owners are not able to travel to timeshares in exotic locations and would rather swap their far-away units for ones closer to homeand vice versa. Companies such as Interval International facilitate these swaps, helping you find both a partner and a desirable destination for yourself. Bulletins in your developments newsletter can sometimes produce an easy trade and will help you forgo the fees charged by a middleman. However, many timeshare owners have a difficult time finding a swapper, so consider meeting people on the World Wide Web. Popular websites include the Timeshare Users Group or virtual classified advertisement site, Craigslist.org. Donating Your Timeshare If you are not planning on using your timeshare any longer, but do not want to deal with the hassle of selling your timeshare, consider donating your unit. Just like donating cars, boats, and recreational vehicles, more and more owners are choosing to donate their timeshares to a worthy cause and exchange any profit for a deduction in their taxes. This is an especially popular alternative for individuals who have been struggling to sell their timeshare with little or no success. When looking to donate your timeshare, it is imperative you do your homework in order to ensure the company you choose is legitimate and will use your donation to its fullest potential. There are many popular non-profit organizations that accept donations. Excellent organizations that offer timeshare donation programs include the American Kidney Fund, Gifts for Sight, and the National Foundation for Cancer Research. The financial benefits of a donation may be comparable to what you would receive in the end from selling your timeshare. Keep in mind that any profit made on the timeshare is taxable, so it is possible to lose money on this endeavor. Although business losses may be tax deductible, personal losses (including those incurred by selling a timeshare) are generally not. Thus, donation could result in a sizeable tax deduction with far less hassle than trying to sell your timeshare. |
