Basics of Property Management: Screening Potential Tenants
Why Join a Vacation Club or Timeshare Program
Jesse Obrien
Are you looking to start treating yourself better? Maybe you want to get off of the hamster wheel at work and enjoy a vacation every once in a while? One possible solution in this scenario is to enroll yourself in a vacation club or timeshare program. Here's why buying in for Marriott Vacation Club points (or a similar program) might be the right choice for you at this time.
A Vacation Club Forces You to Relax
Not many people need help taking time off, but there is a certain kind of person that can be classified as a workaholic. If it seems like you are always thinking about your next project, maybe you need a little extra help to force yourself to get away. A vacation club requires you to put up a certain amount of money upfront and then you usually are charged an annual fee as well. By automatically charging your bank account every year, you will be automatically signing up for a vacation.
This doesn't mean you are forced to take a vacation every year though. Sometimes work is more important. In most cases, vacation clubs or timeshares will let you roll over your points into the next year, where you will be able to take an even longer vacation.
See the Country or the World
If you are tired of going to the same vacation spot repeatedly year after year, joining a vacation club can help you get out of your comfort zone. A national program will let you use your club points at a wide variety of locations all around the world. Maybe this year you'll go out to the West Coast and then next year you'll go overseas. With the points already in the bank so to speak, you'll have no excuse not to set out on your next adventure. Signing up for a vacation club also guarantees you'll have familiar surroundings in the form of your hotel room or other accommodations, no matter where in the world you end up going.
It Might Save You Money
While a vacation club does cost money to buy in, a long-term membership could save you money. If you know you want to go to certain locations every year, it's likely less expensive to do this through a timeshare program. Being a member might also gain you additional benefits like discounts on airfare, food or other vacation essentials
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For the last several years, I've used a property management firm to help with my rental properties. One of the tasks that they handle for me is screening applicants who would like to move into one of my vacant units. Their expertise has helped me lower my tenant turnover and find people who want to stay with me for years. Part of the process is a tenant screening credit check. Before any further contact takes place, my manager orders credit reports from at least two agencies. That is enough to tell us if an applicant is a good financial risk. Assuming the references work out, I meet the candidate and make the final decision. If you own rental properties, let me tell you more about the benefits of having a property manager. I'm betting you'll find this type of arrangement will work for you too.