Timeshare is
a relatively new concept of real
estate ownership, and is mainly used
in the USA. A timeshare is a
property, typically a resort
condominium unit, in which multiple
parties have rights, such as the
right-to-use. Timeshare is a
business model whereby a company
owning property, typically resort
condominiums, sells small time
slices of property to customers.
Timeshare owners can elect to
stay at their resort during the
prescribed period, which varies
depending on the nature of their
ownership. In many resorts, they can
rent out their week or give it as a
gift to friends and family.
Timeshares offer owners the
possibility of exchanging 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.
They have resort affiliate programs
and members can only exchange to
affiliate resorts. It is most common
for a resort to be affiliated with
only one of the larger exchange
agencies, but it isn't rare to find
a dual affiliate resort. Together
they have over 7,000 resorts. The
timeshare resort one purchases
determines which of the major
exchange companies can be used to
make exchanges. RCI and II charge a
yearly membership fee and fees for
when they find an exchange. They
also bar members from renting weeks
for which they already have
exchanged
Types
of Timeshare
Timeshare properties tend to be
apartment-style units ranging in
size from studio units (with room
for two) to three and four-bedroom
units. These larger units can
comfortably house large families.
Timeshare units normally include
fully equipped kitchens with a
dining area, dishwasher,
televisions, VCRs and more. It is
not uncommon to have washers and
dryers either in the unit or easily
accessible on the resort. Kitchens
are equipped to the size of the
unit, so that a unit that sleeps
four should have at least four
glasses, plates, forks, knives,
spoons, and bowls so that all four
guests can sit and eat at once.
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