What are the different types of timeshares available?
Author: Mel Tremaine
Website: http://www.my-timeshare.com
Added: Fri, Jul 7, 2006 21:38:41
Category: Timeshare Questions
|
|
Timeshares are available in two basic types: fee simple and certificate. Fee simple is like owning a home, while certificate is more like renting or leasing an apartment. Another term for a fee simple ownership is deeded timeshare, and another term for certificate ownership is right-to-use.
In fee simple ownership, you receive a deed to the timeshare. On the other hand, certificate ownership gives you the option of owning a timeshare for a specific amount of time, much like renting an apartment, only much longer.
There are also some different consumer choices. Examples of these timeshares are: fixed week, floating time, points, and multi-location.
The fixed week timeshare is the most familiar and the oldest kind of timeshare. This works by purchasing one or more weeks at a resort, to be used at the same time each year, in which the weeks are numbered 1 to 52. Once you have purchased the number of weeks you will use, the resort guarantees that your accommodations will be waiting for you at that time.
The floating time type of timeshare works by buying your vacation time by the size of unit and season of the year, which is not designated as to the actual day or week. This type of timeshare gives you the responsibility of contacting your resort each year and confirming the date of your arrival. The advantage of this timeshare is flexibility in your schedule; however, it is usually operated on a first-come-first-served basis, which means that highly desirable weeks are often full. Also, when exchanging you must first reserve your time at your resort before the exchange companies will accept it for deposit.
Another kind of timeshare is called points. This type is the newest form of timeshare to become popular. The way this works is you purchase a number of points or credits, which enable you to travel during a specific season of the year. You can also use most points-based resorts for a maximum number of weeks purchased at a minimum of one night. The drawbacks for this type are: the accounting system, which is sometimes confusing; and the fact that they are also subject to availability, similar to the floating time type.
The multi-location timeshare enables you to have more flexibility to visit other timeshares in other locations as long as it is within the same timeshare organization. Your reservations will be good either far or near, as long as the resort belongs to your group.
See also: Timeshare | Time Share | Vacation Rental About the Author:
Mel Tremaine answers frequently asked timeshare questions at PrettyGreatAnswers.com.
--- Grab the Feed for related Questions and Answers. If you'd like to use our questions and answers on your website for content, we've created a simple free tool you can use to create a custom RSS Feed! ---
More
|
