FREQUENTLY ASKED QUESTIONS

What is a timeshare?

The notion of a timeshare was originally created in Europe in the 1960s. A ski resort developer in the French Alps innovatively marketed his resort by encouraging guests to "stop renting a room" and instead "buy the hotel". The developer was successful in increasing occupancy and the idea quickly spread worldwide. A vacation timeshare is a form of vacation property. Instead of purchasing a vacation home that you cannot use for most of the year, timeshare allows families to purchase a fractional share in a vacation property. This share could be one week per year or more with some resorts offering one week every other year.

Why is buying a time share cheaper than renting a hotel room?
The reason people are buying instead or renting is simple. They own the property and have a voice in where they stay. The amenities are typically better and cost much less. As owners they can save dollars in many areas including lodging, entertainment, food and travel. The average maintenance fee is far less than the average rental cost for comparable accommodations and has not increased due to inflation the way typical rents have. Furthermore, owners are building equity in their ownership and can resell to recoup inflation costs.

What are the advantages of buying a timeshare over renting hotel rooms?
Purchasing a timeshare can divert your lost vacation dollars into a piece of vacation real estate that will serve your vacation needs for the rest of your life. You will stop vacation inflation, which means you save money!

Benefits to owning a timeshare:
You will have guaranteed quality future resort vacations for yourself and others in your family. You simply cannot put a price on this precious time together with your loved ones. The warm memories of your family vacations will last for a lifetime!
You will enjoy a higher style of vacation as opposed to staying in a hotel. You are treated with the respect of an owner, not a renter.
You will build your own equity rather than that of your vacation landlord AND enjoy some of the finest vacation accommodations available.
You will have the privilege of using Bonus Time at your resort, so you can enjoy mini-vacations in addition to the timeshare week(s) you own.
You will save hours of planning. Timeshare resorts frequently have great activities and tours arranged for owners. You can relax and enjoy this precious vacation time with your family and friends.
You will save money! Timeshare resorts generally offer accommodations that are much larger than the standard hotel room. They often have kitchens and private bedrooms. That kitchen alone could easily save you $100 or more per day by not dining in expensive restaurants for every meal. You can stock up the refrigerator just like home.
When you purchase a deeded timeshare; you own it for life just like your home. You can sell it whenever you want or will it to your loved ones as a special gift.
You can rent your timeshare week and use the extra income to cover your expenses.

What is a fixed week?
A set time that can be used annually

What is a float week?
Vacation time that can be used anytime of the year based upon availability.

What is a deeded property?
A property that is owned for life and may be willed to someone.

What is a leased property?
A property that you own for a pre-determined number of years.

What is a banked week?
A week of timeshare deposited in one of the many exchange companies to be saved or banked for use at a later time.

What are timeshare maintenance fees?
An annual fee paid to maintain and improve the property.

What is a lockout unit?
Typically, a unit which has the capability of being divided to create two separate but complete sections. If an owner buys a lockout unit, he can divide the unit and either stay in one half of the unit and rent the other half or rent both halves to different parties.

What are points?
The newest form of ownership to become popular is the points system or credits. You purchase a specific number of points or credits, which enables you to travel in specific seasons of the year and to various sized units. You also have the ability to use most point or credit based resorts for a minimum of 1 night to the maximum number of weeks purchased. The point or credit distribution usually relates to more points or credits used during high seasons and larger accommodations versus a smaller unit during the quiet season. Because this system is very flexible, it is growing in popularity. Drawbacks? Their accounting systems are sometimes confusing. And they are subject-to availability, same as with floating time.

What is exchanging?
The act of trading vacation time with other timeshare owners for a onetime use.

Who are Resort Condominium International (RCI) and Interval International (II)?
The two largest exchange companies. They are responsible for 98% of all exchanges.

What is a bi-annual timeshare?
A property that can be used every other year.

What is red, white, yellow, blue and green time?
A color system used for rating the desirability of a timeshare week. Red is considered the most desirable followed by white and yellow. Blue and green are considered off-season.