What is a Timeshare?
Timeshare are properties or apartments divided into 52 single weeks. These weeks are sold to individuals to reduce the overall cost of a whole property or apartment purchase price. Different systems using points or weeks may be sold but are basically a shared ownership of time, hence Timeshare.
What is the difference between fixed and floating?
Fixed week of timeshare is a specific week in a specific property. Floating timeshare is a specific sized unit allocated to a requested week but usually not a specific property.
What is Red, White and Blue?
Red, White and Blue relate to the levels of demand of time, Red being the highest, White is medium demand, Blue is the lowest demand of time.
What are maintenance fees?
Each type of timeshare has a running cost which is normally paid annually. These cover the running of the resort (pool, play area etc) and the Timeshare unit. Also refurbs of any part of the resort are paid by this maintenance fee.
Resale and New Weeks?
In simple terms, resale weeks tend to be cheaper than New weeks. New weeks from the developer usually give more choice – ie Resort, Week Number & Unit Location.
What is an exchange company?
An Exchange company provides to Timeshare owners the opportunity to swap (exchange), their timeshare to different resorts, locations and time of year for an annual fee and administration cost (exchange fee).
What do I do if a family member wishes to use my ownership?
Family may use the ownership if they wish. Dependent on the country/resort one member must be over 18/21. Some resorts & Exchange companies will charge a ‘guest fee’ if none of the named owners are not attending.
How long will I own my timeshare for?
Ownership length will vary from Resort to Resort but many are in perpetuity and beyond the owners lifetime.
Some resorts will rent your resort for you at a cost. You may rent the unit yourself but most resorts will require you to pay for a guest certificate.