The opening ceremonies for the 2010 Winter Olympics are tomorrow in Vancouver, Canada. WorldMark has three resorts in the vicinity of the Olympics and at least two others that are reasonably close. Special booking restrictions were placed on those resorts during the Olympics time period. Here's a comment I posted about the Olympics over a year ago.
"But even with the special booking restrictions I wonder how many of those units will be used by owners and how many will show up on the rental market. Seems there are always some owners who are out to make a profit at the expense of other owners."
Based on the advertisements I have seen, quite a few of those units were picked up by owners intent on renting them out. Even at this late date there are still a number of them being listed for rent. It is possible that some of those listings are for units that have already been rented. Some of them are probably going to sit empty though because the would be profit makers overestimated the demand for units at the price they are offering.
I don't know what others think, but in some ways I am glad to see that. I DON'T LIKE RENTALS of WorldMark units where the only intent is to make money. Typically those rentals suck off prime units that other owners would be sure to book for their own use if they were available. It's not just for the Olympics, you will see prime summer weeks at locations such as Depoe Bay on the rental market too. I'm not alone in my dislike for rentals, I hear from other owners who feel the same.
There shouldn't be an outright ban on rentals, that could end up backfiring. Owners need to be able to do things such as book units for a family or friends gathering with the cost shared among all attending. A rental ban could have the undesired side effect of prohibiting that type of thing.
For now there is nothing that can be done about it, the right to rent is in the governing documents. But if enough owners start to notice and complain about the rentals things could change. There are ways to make it more palatable to all the owners. At least to all except maybe those who are out to do nothing more than make a buck without regard for their fellow owners.
Olympic Rentals
Feb 11, 2010, 07:35 AM by FredinColoradoComments
Feb 11, 2010, 07:28 PM Mike H wrote:
In general, I do not agree with your premise.
I support a WM owner right to rent out an unit if he/she chooses so long as the rules allow it. The rules make the WM owner responsible and liable for any damage.
What difference should it make to other owners who didn't take the time or make the effort to make the reservation? If the unit is used or empty, the WM owner who made the reservation spent his money the way he/she want to.
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