Initially conceptualized of around the 60s, the timeshare arena has long since become a transnational industry. Timeshares are usually a fun turn on the common vacation or lodge system, along with selected options that make them actually more pleasant. Fundamentally, these are typically units that are “rented” or “owned” by various individuals, in the same manner a publicly-traded corporation might be. It indicates a couple of factors for the ordinary buyer. First, it indicates that any dues and service fees are split between all of the users. Second, it effectively helps ensure a predetermined amount of time that the owner can make use of the actual property every year.
In practice, a timeshare property will likely have around three or four parties who are sharing all the costs, though this may be higher or lower in some cases. The fees are typically used to pay for the management and maintenance of the property when no one is using it. This can include property taxes, upkeep costs, and other associated expenses. A timeshare management company will be the ones responsible for the day-to-day maintenance and, in the case of luxury properties, providing the services that come with ownership.
The chief advantage is that owners are guaranteed a week. Anyone who owns part of the timeshare get a set number of days or weeks per year. For members of newer timeshare clubs, such days can even be swapped for other destinations where the club owns properties. That way, owners have a high degree of security in being able to have a vacation at their preferred spot. For those whose choices seem somewhat limited, they can join other timeshare clubs or join a swapping organization like RCI to avail other locations .
Another benefit are the amenities. Many timeshare properties are managed by hotels or luxury resorts, so that owners have access to the amenities of their related or adjoining properties. These can be swimming pools or fitness gyms, all the way to personal chefs and butler services. For upscale clubs, other facilities such as golf courses and marinas come with the package.
Owning a timeshare also allows owners to save on food, as most come fully equipped with kitchen, silverware and dining room. This significantly cuts down dining expenses during a vacation. However, bear in mind that some units use electric stoves on lieu of LPG or propane cookers, so checking with the club is a must.
Timeshare properties offer many advantages and conveniences for owners, allowing them to truly enjoy their vacation and spend less time on planning and booking. As holidays are meant to be stress breakers, it can be said timeshares are meant for members to truly have a memorable vacation experience, rather than being bogged down in the details of planning one.
With various amenities, facilities and luxuries, timeshare developers are truly becoming more competitive with the hotel and resort industry.