What is Timeshare?
A timeshare is a form of vacation property ownership. With timeshares, the use and costs of running the resort are shared among the owners. While the majority of timeshares are condominium vacation resorts, developers have applied the timeshare model to houseboats, yachts, campgrounds, motor homes and cruises.
Timeshare is a business model whereby a company buys something and sells small slices of it to customers. This concept is most frequently used for vacation condominiums/homes, but it has also been used for high end private jets. In general, "timeshare" refers to the former rather than the latter.
Timeshare owners may elect to:
- Use their usage time
- Rent out their owned usage
- Give it as a gift
- Exchange internally within the same resort or resort group
- Exchange externally into thousands of other timeshare resorts
Though some developers may limit which of these options are available at their properties Timeshare owners can elect to stay at their resort during the prescribed period, which varies depending on the nature of their ownership. In may resorts, they can rent out their week or give it as a gift to friends and family.
Timeshare offers owners the possibility to exchange their week, either independently or through several exchange agencies, to stay at one of the thousands of other resorts worldwide. There are many exchange agencies, of which the two largest are Resort Condominiums International and Interval International. Both have resort affiliate programs and members can only exchange to affiliate resorts. It is rare to find a dual affiliate resort; it is more common for a resort to be affiliated with only one of the larger exchange agencies. Together they have over 5800 resorts. The timeshare resort one purchases at determines which of the major exchange companies can be exchanged through. Both RCI and II charge membership fees and exchange fees. They also bar members from renting weeks they have exchanged for.
Timeshare owners may also arrange a direct exchange, this requires locating a timeshare owner with the location and weeks both mutually desire. This form of exchange is rare but since it can save in exchange fees it is often sought after. Several bulletin boards have been created to help timeshare owners meet others and swap.
Timeshare takes different forms depending on who is selling it. The vast majority is one week of ownership, i.e. 1/52 year, but some developers sell point based systems that are a different form of vacation currency that allow hotel stays, car rentals, and stays at large networks of resorts.
Timeshare is a business model whereby a company buys something and sells small slices of it to customers. This concept is most frequently used for vacation condominiums/homes, but it has also been used for high end private jets. In general, "timeshare" refers to the former rather than the latter.
Timeshare owners may elect to:
- Use their usage time
- Rent out their owned usage
- Give it as a gift
- Exchange internally within the same resort or resort group
- Exchange externally into thousands of other timeshare resorts
Though some developers may limit which of these options are available at their properties Timeshare owners can elect to stay at their resort during the prescribed period, which varies depending on the nature of their ownership. In may resorts, they can rent out their week or give it as a gift to friends and family.
Timeshare offers owners the possibility to exchange their week, either independently or through several exchange agencies, to stay at one of the thousands of other resorts worldwide. There are many exchange agencies, of which the two largest are Resort Condominiums International and Interval International. Both have resort affiliate programs and members can only exchange to affiliate resorts. It is rare to find a dual affiliate resort; it is more common for a resort to be affiliated with only one of the larger exchange agencies. Together they have over 5800 resorts. The timeshare resort one purchases at determines which of the major exchange companies can be exchanged through. Both RCI and II charge membership fees and exchange fees. They also bar members from renting weeks they have exchanged for.
Timeshare owners may also arrange a direct exchange, this requires locating a timeshare owner with the location and weeks both mutually desire. This form of exchange is rare but since it can save in exchange fees it is often sought after. Several bulletin boards have been created to help timeshare owners meet others and swap.
Timeshare takes different forms depending on who is selling it. The vast majority is one week of ownership, i.e. 1/52 year, but some developers sell point based systems that are a different form of vacation currency that allow hotel stays, car rentals, and stays at large networks of resorts.
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