For several decades now since 1960's, the timeshare industry has been growing with about 5,000 timeshare resorts around the world making sales in the billions every year.
How did timeshare became this flourishing industry after only about 5 decades? This is because timeshare has a number of benefits so attractive to a prospective owner that present owners are rarely ever going to resale their timeshare deeds:
It is a real property
During the 1960's, a ski resort developer improvised a way of increasing his revenue. He managed to do it not by decreasing his overhead expenses but by presenting a new concept that would inspire other resorts throughout the world. His new concept is to make people the owner of the resort instead of its guests. This gave birth to timeshare deeds.
His concept made the ski resort developer richer by tenfold. He amassed great wealth by increasing the occupancy of the ski resort. All guests were always presented with an option to either own or rent the resort. Guests, of course, were attracted to the idea of actually owning a resort, even if only for a week.
They become owners of the resort by buying timeshare deeds. Timeshare resorts sell potential owners what is called timeshare intervals. Timeshare intervals are also known as deeded weeks. These are deeded weeks of real property at a specific resort. The owners are free to do whatever they want to do with the timeshare deed they own.
It is flexible
Owners can choose what type of ownership they want. Over the years, timeshare ownerships were developed to cater to all sorts of people. Owners can now choose between these varied types of ownerships:
1. The Fixed Week Ownership
This usually refers to a deed outlining a specific week at a specific location.
2. The Floating Ownership
For this kind of ownership, you have a choice as to what week you will use your timeshare. This would transpire within a defined season. For example, the Winter season has a number of weeks, you have a choice or you must compete over a week that you prefer to have.
3. The Rotating Ownership
This type of ownership provides all timeshare owners of the resort an opportunity to get the timeshare interval they want. A timeshare interval is rotated to each owner annually such that if you have week 10 for this year, then week 11 would be yours for the next year and so on for the succeeding years. In this case, every possible timeshare would be available for an owner due to teh rotation.
4. The Deeded Ownership
This type of ownership gives power to owners over their timeshares. The deeds are real property and are otherwise known as partial ownership with regards to the concept of timeshares.
5. Right to Use ownership
This is not so much ownership as it is membership in a club which expires after a fixed number of years as determined in the contract. This is popular with hotel resorts where you can purchase a week every year for a limited term. After the term is finished or contract expires, then there is no more "ownership".
6. Ownership by Points program
Instead of actual weeks and property, this type of ownership is point related. An owner is allotted a number of points every year. Vacations then have a point value assigned. Naturally some vacations are more expensive than others. When the owner has enough points for the vacation he wants to take, he can then redeem the points.
Those are some of the most common timeshare opportunities. And remember timeshare ownership methods continue to evolve all the time to suit more and more lifestyles and income brackets. What that means for you is that the best thing you can do is stay informed and keep an open mind. We finally found the perfect timeshare opportunity for us on our fourth presentation. And we are crazy about our current timeshare. So just because you attend a timeshare presentation and do not like it, realize that was a specific type of ownership being sold.
Do not let a bad sales pitch close you off to the idea of timeshares because it is possible (and likely) that the perfect timeshare opportunity is out there waiting for you, which means that one day you will be ready when that opportunity comes knocking at your door.
How did timeshare became this flourishing industry after only about 5 decades? This is because timeshare has a number of benefits so attractive to a prospective owner that present owners are rarely ever going to resale their timeshare deeds:
It is a real property
During the 1960's, a ski resort developer improvised a way of increasing his revenue. He managed to do it not by decreasing his overhead expenses but by presenting a new concept that would inspire other resorts throughout the world. His new concept is to make people the owner of the resort instead of its guests. This gave birth to timeshare deeds.
His concept made the ski resort developer richer by tenfold. He amassed great wealth by increasing the occupancy of the ski resort. All guests were always presented with an option to either own or rent the resort. Guests, of course, were attracted to the idea of actually owning a resort, even if only for a week.
They become owners of the resort by buying timeshare deeds. Timeshare resorts sell potential owners what is called timeshare intervals. Timeshare intervals are also known as deeded weeks. These are deeded weeks of real property at a specific resort. The owners are free to do whatever they want to do with the timeshare deed they own.
It is flexible
Owners can choose what type of ownership they want. Over the years, timeshare ownerships were developed to cater to all sorts of people. Owners can now choose between these varied types of ownerships:
1. The Fixed Week Ownership
This usually refers to a deed outlining a specific week at a specific location.
2. The Floating Ownership
For this kind of ownership, you have a choice as to what week you will use your timeshare. This would transpire within a defined season. For example, the Winter season has a number of weeks, you have a choice or you must compete over a week that you prefer to have.
3. The Rotating Ownership
This type of ownership provides all timeshare owners of the resort an opportunity to get the timeshare interval they want. A timeshare interval is rotated to each owner annually such that if you have week 10 for this year, then week 11 would be yours for the next year and so on for the succeeding years. In this case, every possible timeshare would be available for an owner due to teh rotation.
4. The Deeded Ownership
This type of ownership gives power to owners over their timeshares. The deeds are real property and are otherwise known as partial ownership with regards to the concept of timeshares.
5. Right to Use ownership
This is not so much ownership as it is membership in a club which expires after a fixed number of years as determined in the contract. This is popular with hotel resorts where you can purchase a week every year for a limited term. After the term is finished or contract expires, then there is no more "ownership".
6. Ownership by Points program
Instead of actual weeks and property, this type of ownership is point related. An owner is allotted a number of points every year. Vacations then have a point value assigned. Naturally some vacations are more expensive than others. When the owner has enough points for the vacation he wants to take, he can then redeem the points.
Those are some of the most common timeshare opportunities. And remember timeshare ownership methods continue to evolve all the time to suit more and more lifestyles and income brackets. What that means for you is that the best thing you can do is stay informed and keep an open mind. We finally found the perfect timeshare opportunity for us on our fourth presentation. And we are crazy about our current timeshare. So just because you attend a timeshare presentation and do not like it, realize that was a specific type of ownership being sold.
Do not let a bad sales pitch close you off to the idea of timeshares because it is possible (and likely) that the perfect timeshare opportunity is out there waiting for you, which means that one day you will be ready when that opportunity comes knocking at your door.
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Learn more about all things related to buy a timeshare and sell a timeshare: Stop by Emil Yau's blog where you can find out all about timeshares.
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