5 essential tips for renting a timeshare

When people consider using points for hotel stays, they often think of redeeming them at major chains like Marriott or Hyatt. However, standard hotel rooms often aren't suitable for many families, including mine.

I steer clear of booking a single hotel room for my family of four at all costs. The reality is that a teenage boy and a preteen girl aren't going to willingly share a bed, and I refuse to make them do so.

Fortunately, timeshare rentals offer a superior alternative. For less — often significantly less — than a hotel room, you can enjoy a kitchen, a living room, and that crucial bedroom door for privacy. Plus, you can utilize points to help reduce the expenses.

What exactly is a timeshare rental?

Vacation rentals can be categorized into two main types: independent and timeshare. Independent rentals occur when an individual homeowner lists their property for rent through platforms like Airbnb or VRBO.

Timeshare rentals often provide excellent value, along with one major benefit over independent rentals: peace of mind. Renting from a company that owns multiple properties gives you more options if you arrive and discover your room isn't as expected.

Consider a timeshare exchange company like a bakery — the bread and pastries it offers lose value after a certain date. If they anticipate excess stock, those units are typically sold at a discount as the stay date approaches, similar to "day-old" baked goods.

How to secure a timeshare rental

Renting a timeshare for a specific vacation differs greatly from discussing the pros and cons of buying one. We're not referring to "vacation packages" that come with tickets or other perks, which often require a timeshare tour — definitely not my idea of fun while on vacation. Weekly rentals mean exactly that: weeklong stays without any obligations.

Whenever I look for units, I always check ratings and reviews to gauge what to expect. Remember, these rentals are more like apartments or condos than hotels, so some guests might leave unjust ratings based on trivial complaints like "no maid service."

If you're in the military, a veteran, or a first responder, the deals can be even sweeter, as both the Armed Forces Vacation Club and Heroes Vacation Club offer weeks starting from $359.

One platform to consider for renting timeshares is KOALA, a vacation rental marketplace that connects timeshare owners with travelers seeking a resort-like experience without the hefty price tag. By renting directly from the owner, you can often find deals up to 70% cheaper than those on major travel sites.

If you're looking to visit Disney's resorts in Florida, Hawaii, California, and beyond, consider renting Disney Vacation Club (DVC) points or existing reservations made by DVC owners at these resorts. While Disney doesn't frequently refer to it as a timeshare, that's essentially what it is, allowing you to save on stays just like with any other timeshare rental.

Last-minute timeshare rental bargains

SkyAuction elevates the concept by infusing a bit of eBay flair. You can typically find a plethora of fantastic locations available within 30 days of arrival, alongside a selection of destinations that are open almost year-round.

To maximize your savings, be sure to check SkyAuction if you're traveling during the off-season or heading to any of the following destinations:

• Orlando
• Williamsburg, Virginia
• Branson, Missouri
• Las Vegas
• Lake Tahoe
• The Poconos
• Cancun/Riviera Maya
• Canary Islands

These popular destinations tend to have a wealth of timeshare rentals and consistently maintain some inventory. Just don't get too thrilled by an auction price of $1; the fine print usually reveals a service fee of $229 or more in addition to a $20 SkyAuction fee. Nevertheless, spending $249 for a week in a condo can still be an incredible bargain.

When timeshare rentals may be a good fit for you

• You travel spontaneously. Prime locations often open up 30 days or less before departure, similar to some of the best airline award tickets.
• You prefer to travel during the off-peak season.
• You are open to exploring destinations that aren't on the typical tourist radar.

If you let availability guide your choices, as I do, you can embark on some incredible adventures. For example, I would have never thought about visiting the Canary Islands if I hadn't found reasonably priced timeshare rentals there. I've now been twice, using timeshare rentals each time — and I'm even planning a third trip.

My first trip to the Canary Islands took me to Tenerife, booked through SkyAuction. I spent a total of $353 for a week in a charming one-bedroom condo in Puerto de la Cruz. The second time, I took my family to Gran Canaria for spring break and secured a two-bedroom oceanfront condo via a timeshare rental for just $560 for the entire week.

When to reconsider booking a timeshare vacation rental

Like many things, timeshare rentals aren't suitable for everyone. A significant downside is their nonrefundable nature, meaning your plans must be solid. I recommend considering travel insurance if you decide on a timeshare rental. In fact, here's why I purchase travel insurance.

Don't expect five-star service when using timeshare rentals. Typically, they offer midweek housekeeping and, if you're fortunate, daily trash collection. If you require turndown service or daily room service, a vacation rental might be not the right choice for you.

Since timeshare availability updates in real-time, be ready to book as soon as you find something appealing.

If you need time to gather your thoughts, consult family, check the calendar multiple times, and even look at your horoscope, that deal may vanish before you know it. However, if you can act fast, you might secure a week in a spacious two-bedroom ocean-view unit in Hawaii for just $279.

I certainly did — I snapped up this deal within five minutes of spotting it and never regretted my decision.