What Is A Timeshare And How Does It Work?

Abstract

Timeshares are a vacation lifestyle product, otherwise known as "Vacation ownership." In simple terms, a timeshare is a resort unit that allows owners to have an increment of time in which they can use for vacations every year. If you're a timeshare owner or looking to buy a timeshare, you must become familiar with your vacation ownership brand because each one works differently. In the case of a floating week timeshare or points-based timeshare, you will want to pay special attention to your club's seasons. Besides the different ways a timeshare works, there are multiple types of timeshare contracts to be aware of. While the accommodations and amenities of a timeshare resort outweigh that of a hotel or Airbnb, timeshare buyers also enjoy the savings associated with ownership. Third-party timeshare exchange companies like RCI or Interval International offer timeshare owners the ability to exchange with a massive network of other owners. There are many options to get out of your timeshare; however, a "timeshare exit team" or company that advocates strongly against timeshare is a red flag.