How long is the usage for a timeshare?
The segments of usage are called timeshare intervals.
Timeshare intervals refer to the time period that the
timeshare is available to the owner. If the standard
timeshare interval is one week then there are 52
intervals available in a year. Most timeshares are sold
in one-week increments. There are, however, other
options for ownership. Some resorts have longer and
shorter time periods such as one-tenth or one-quarter
year ownership, or one week every two years if
preferred.
What designates the yearly usage of a timeshare
interval?
Timeshare usage is most commonly offered annually, so
you can enjoy your purchased week every year. Timeshares
are also sold in biennial and biannual, triennial and
triannual and so on. With biannual you are allocated two
weeks per year. These weeks may be consecutive or split
up. With biennial your week is available every other
year. Biennial odd or biennial even delegate the years
of your timeshare usage. For example, if you have
biennial odd usage starting in 2007, the following usage
will be in 2009 and continuing in 2011. The advantage of
biennial usage is that the buyer generally pays only
half of the annual value of the property.
What is the advantage of purchasing Timeshare
Resale?
Many first time buyers get coerced into purchasing
property directly from the resort for a high price.
Resorts are known for using high-pressure sales tactics
and making unscrupulous promises to the buyer. The
benefits of purchasing a timeshare resale from Timeshare
Resale Rental include low-cost and reliability. More
often than not timeshares on this site are offered for
thousands below the regular retail price. You can also
count on our sales people to paint you an honest picture
of timeshare ownership so there are no surprises during
the purchase and usage process. Resales include all the
amenities and advantages that the resort has, but
without the hassle of dealing with their potentially
deceptive presentations.
What is the purpose of maintenance fees?
After a timeshare is purchased the owner then has to
satisfy a maintenance fee. Maintenance fees are most
often paid annually, but that may vary by usage type.
The purpose of the fee is to provide the owner's unit
with the proper upkeep. This fee also is somewhat of a
security deposit in case the unit sustains damage during
use. Keep in mind that the actual amount of the
maintenance fee will vary from resort to resort.
What is the difference between Deeded and
Right-To-Use?
Deeded and Right To Use (RTU) both refer to types of
ownership. Deeded means that you actually hold a title,
and own a portion of the resort's property. With RTU you
do not hold a title or own the property. Rather, you
have the right to use the property, much like a lease.
On the RTU contract is the designated number of usage
years. For both deeded and RTU the owner has the option
to sell, donate or bequeath the property. However, with
RTU the expiration for usage remains the same even after
dissemination.
Ownership also dictates a measure of power within the
resort. Because deed holders do in fact own a piece of
the establishment, those owners have the right to vote
on issues such as annual fees, resort upkeep and rule
changes. Conversely, RTU owners don't have the
opportunity to engage in these matters.
What is the difference between weeks and their
flexibility?
If you own a fixed week then your usage is
always on a specific week every year. A week number will
designate your particular week. There are 52 weeks in a
year, so your week will be 1-52. What owners enjoy about
fixed weeks is that they never change. This is
dissimilar to floating weeks where you are not
guaranteed to have that particular week each year.
Floating weeks are different than flex weeks
in that they are usually available all year and the
owner can decide which week to use (some weeks are not
available however). It is recommended that for peak
season weeks in highly coveted areas owners reserve that
time up to a year in advance.
With flex weeks there is generally a season of
the calendar year that your week is available. Having a
flex week requires owners to reserve their time within
that flex period in advance to assure that their unit is
available for the desired week.
What is a Vacation Club?
Vacation Clubs are very similar to regular timeshares
in that there is still a contract and maintenance fees.
Some Vacation Club contracts will not designate a home
resort, instead they receive a UDI (undivided interest)
in a points program. Owners are allotted points to use
weeks at various resorts in the club's network. Like
normal timeshares, Vacation Club memberships can be sold
and rented with guest passes. They also can be
distributed to heirs.
What is a points program?
Not all resorts have points programs. If you choose a
resort that does offer points you are allotted a certain
amount of points per year. When buying into a points
program you get an UDI instead of a deed. Points
programs are most often associated with Vacation Clubs.
The amount of points you possess allocates the size unit
and value of the week you have available to you. Points
can be used within the resort network or traded through
an exchange company.
What is an exchange company?
Resort Condominiums International (RCI) and Interval
International (II) are the two major exchange companies
in the industry. These companies allow owners to trade
in their points or week(s) for use within their internal
networks - which are extensive. When you utilize
exchange companies to trade your points/weeks you have
the option to bank them. Once you deposit with the
exchange company you usually have about two years to use
them. This is a good way to hold on to your time without
wasting money on maintenance fees in the meantime.
