All About Timeshare

Imagine a beautiful, Truman Show-like day. The sun is shining and leaves skip across the lawn as you stroll to the mailbox. Sifting through the envelopes, you stop in your tracks. You’ve spotted the windowed envelope with the logo you’ve come to loathe. It’s that time of year again: Timeshare maintenance fees are due. Ugh. It wasn’t always like this. You used to enjoy your timeshare. Remember watching the kiddos run down to the pool? Those lazy nights on the back deck? Talk about good memories! But things have changed. Your lifestyle is different than it was the day you happily signed the papers. Maybe you’d rather take a trip to see the grandkids than go back to your timeshare for the fifteenth time! Or maybe you want to go somewhere else this year, but you say to yourself, Or maybe you’re one of the many people who, the week after signing the papers, realized it was a horrible mistake. You feel trapped. And just like 85% of all timeshare owners, you’re wondering, How can I get rid...

Timeshares are vacation plans that have been around in the U.S. since 1969. Today, it’s a $9.2 billion industry, according to the American Resort Development Association (ARDA). That’s actually quite sizable when compared to the nearly $8 billion music industry or Major League Baseball’s $9 billion in annual revenue. In 2016, there were 1,558 timeshare resorts just in the U.S., with an average of 132 units per resort. A timeshare gives you partial ownership in a vacation property. You can even think of it as owning shares of stock in the vacation rental. You pay an upfront price to purchase your unit and then an annual maintenance fee. This gives you access to the property for a certain period of time, which is usually the same time slot each year. When you are not using the timeshare, others with similar interest are. The average sales price for a one-week timeshare today is approximately $20,940, with an average annual maintenance fee of $880, according to the ARDA. Most timeshare a...

Timeshares are vacation plans that have been around in the U.S. since 1969. Today, it’s a $9.2 billion industry, according to the American Resort Development Association (ARDA). That’s actually quite sizable when compared to the nearly $8 billion music industry or Major League Baseball’s $9 billion in annual revenue. In 2016, there were 1,558 timeshare resorts just in the U.S., with an average of 132 units per resort. A timeshare gives you partial ownership in a vacation property. You can even think of it as owning shares of stock in the vacation rental. You pay an upfront price to purchase your unit and then an annual maintenance fee. This gives you access to the property for a certain period of time, which is usually the same time slot each year. When you are not using the timeshare, others with similar interest are. The average sales price for a one-week timeshare today is approximately $20,940, with an average annual maintenance fee of $880, according to the ARDA. Most timeshare a...

1. What you get. You are purchasing the privilege to use a luxury accommodation in a resort or hotel, usually for one week per year. You get the comfort and convenience of a vacation home with the luxury of a resort, says Howard Nusbaum, president of the American Resort Development Asso¬ciation; see ARDA’s guide, “Understanding Vacation Ownership”). Most timeshares are developed or managed by big-name hospitality companies, such as Disney, Hyatt, Marriott and Wyndham. Urban timeshares are a new variation that have taken off in several cities, including New Orleans, New York City, San Francisco and Washington, D.C. 2. What you’ll pay. The upfront price is based on location, unit size (from a studio to three bedrooms), amenities and the season you select. A week in a new, upscale two-bedroom unit with a view averages about $20,000, although you could pay as much as $40,000 in New York City, says Nusbaum. Most buyers pay cash. Developers offer financing but charge a high rate of interest...

Most of us assume the rule of thumb for tipping in the US is 15 percent of our restaurant tab, one or two dollars per bag for luggage, and whatever is left over in bills and change when the pizza is delivered to our front door. Beyond that, the guidelines are fuzzy. How much do we tip other delivery people? Doormen? Hairdressers? And who has any idea about the proper protocol for leaving tips at timeshare resorts? Can I Sell My Timeshare Back to the Resort? After reading an interesting article on tipping in Forbes Traveler, I learned the following:     For taxis in South America, it is sufficient to round up to the next dollar. In Africa, 10 percent is the standard tip for a taxi driver, while in India, taxi drivers receive no tips at all.     In Japan, tipping anyone, even the restaurant staff, is considered rude and offensive. But in China, 3 percent is the norm and in Hong Kong, 10 to 15 percent is standard, unless the tip is already included in ...

A timeshare is an ownership model in which many customers own allotments of usage in the same property. The timeshare model can apply to many different types of properties, such as condominiums, homes, campgrounds, vacation resorts, recreational vehicles, and private jets. BREAKING DOWN Timeshare With opportunities to rent allotted time each year and sell timeshare interests in the future, many owners of vacation timeshares look at purchasing as an investment. However, this view is frequently misguided. The advantages of a timeshare vacation property often include larger accommodations and a feel of being at home, but timeshares are not a good idea for everyone. In fact, the timeshare market is rife with gray areas and questionable business practices; so, it is vital that prospective customers practice due diligence before buying. The best timeshare investment opportunities tend to be in the resale market rather than in the market created by property developers. More disadvantages o...

 You’ve probably heard about timeshare properties. In fact, you’ve probably heard something negative about them. But is owning a timeshare really something to avoid? That’s hard to say until you know what one really is. This article will review the basic concept of owning a timeshare, how your ownership might be structured, and the benefits and drawbacks of owning one. What Is a Timeshare? A timeshare is a way for a number of people to share ownership of a property, usually a vacation property such as a condominium unit within a resort area. Each buyer usually purchases a certain period of time in a particular unit. Timeshares typically divide the property into one- to two-week periods. If a buyer desires a longer time period, purchasing several consecutive timeshares may be an option (if available). Fixed vs. Floating Weeks Traditional timeshare properties typically sell a set week (or weeks) in a property. A buyer selects the dates he or she wants to spend there, and buys the ri...