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Paladin Real Estate Service
Timeshare FAQ
 How
long is the usage for a timeshare?
The segments of usage are called timeshare intervals. Timeshare
intervals refer to the time period that the timeshare is available to
the owner. If the standard timeshare interval is one week then there are
52 intervals available in a year. Most timeshares are sold in one-week
increments. There are, however, other options for ownership. Some
resorts have longer and shorter time periods such as one-tenth or
one-quarter year ownership, or one week every two years if preferred.
What designates the yearly usage of a timeshare interval?
Timeshare usage is most commonly offered annually, so you can enjoy your
purchased week every year. Timeshares are also sold in biennial and
biannual, triennial and triannual and so on. With biannual you are
allocated two weeks per year. These weeks may be consecutive or split
up. With biennial your week is available every other year. Biennial odd
or biennial even delegate the years of your timeshare usage. For
example, if you have biennial odd usage starting in 2007, the following
usage will be in 2009 and continuing in 2011. The advantage of biennial
usage is that the buyer generally pays only half of the annual value of
the property.
What is the advantage of purchasing Timeshare Resale?
Many first time buyers get coerced into purchasing property directly
from the resort for a high price. Resorts are known for using
high-pressure sales tactics and making unscrupulous promises to the
buyer. The benefits of purchasing a timeshare resale from Timeshare
Resale Rental include low-cost and reliability. More often than not
timeshares on this site are offered for thousands below the regular
retail price. You can also count on our sales people to paint you an
honest picture of timeshare ownership so there are no surprises during
the purchase and usage process. Resales include all the amenities and
advantages that the resort has, but without the hassle of dealing with
their potentially deceptive presentations.
What is the purpose of maintenance fees?
After a timeshare is purchased the owner then has to satisfy a
maintenance fee. Maintenance fees are most often paid annually, but that
may vary by usage type. The purpose of the fee is to provide the owner's
unit with the proper upkeep. This fee also is somewhat of a security
deposit in case the unit sustains damage during use. Keep in mind that
the actual amount of the maintenance fee will vary from resort to
resort.
What is the difference between Deeded and Right-To-Use?
Deeded and Right To Use (RTU) both refer to types of ownership. Deeded
means that you actually hold a title, and own a portion of the resort's
property. With RTU you do not hold a title or own the property. Rather,
you have the right to use the property, much like a lease. On the RTU
contract is the designated number of usage years. For both deeded and
RTU the owner has the option to sell, donate or bequeath the property.
However, with RTU the expiration for usage remains the same even after
dissemination.
Ownership also dictates a measure of power within the resort. Because
deed holders do in fact own a piece of the establishment, those owners
have the right to vote on issues such as annual fees, resort upkeep and
rule changes. Conversely, RTU owners don't have the opportunity to
engage in these matters.
What is the difference between weeks and their flexibility?
If you own a fixed week then your usage is always on a specific week
every year. A week number will designate your particular week. There are
52 weeks in a year, so your week will be 1-52. What owners enjoy about
fixed weeks is that they never change. This is dissimilar to floating
weeks where you are not guaranteed to have that particular week each
year.
Floating weeks are different than flex weeks in that they are usually
available all year and the owner can decide which week to use (some
weeks are not available however). It is recommended that for peak season
weeks in highly coveted areas owners reserve that time up to a year in
advance.
With flex weeks there is generally a season of the calendar year that
your week is available. Having a flex week requires owners to reserve
their time within that flex period in advance to assure that their unit
is available for the desired week.
What is a Vacation Club?
Vacation Clubs are very similar to regular timeshares in that there is
still a contract and maintenance fees. Some Vacation Club contracts will
not designate a home resort, instead they receive a UDI (undivided
interest) in a points program. Owners are allotted points to use weeks
at various resorts in the club's network. Like normal timeshares,
Vacation Club memberships can be sold and rented with guest passes. They
also can be distributed to heirs.
What is a points program?
Not all resorts have points programs. If you choose a resort that does
offer points you are allotted a certain amount of points per year. When
buying into a points program you get an UDI instead of a deed. Points
programs are most often associated with Vacation Clubs. The amount of
points you possess allocates the size unit and value of the week you
have available to you. Points can be used within the resort network or
traded through an exchange company.
 What
is an exchange company?
Resort Condominiums International (RCI) and Interval International (II)
are the two major exchange companies in the industry. These companies
allow owners to trade in their points or week(s) for use within their
internal networks - which are extensive. When you utilize exchange
companies to trade your points/weeks you have the option to bank them.
Once you deposit with the exchange company you usually have about two
years to use them. This is a good way to hold on to your time without
wasting money on maintenance fees in the meantime.
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