Types of Timeshare Ownership

There are different types of timeshare, here are the most recognized.

Right to Use: Ownership of this type of timeshare is for a certain lenght of time. When the time of timeshare ownership expires, the timeshare will go back to the Developer. You can convey your ownership to another party, during your time of ownership.

POINTS: Points based timeshare resorts can be UDI, deeded, memberships or right to use. Timeshare Resorts that are Point based can allow you to split points and you can break up your week

Membership: This type of timeshare is not an ownership, it is a Membership. You pay an amount of money to buy into the membership, there is also an annual membership fee.

Deeded: This type of timeshare will have a recorded deed. You will have ownership forever.

UDI: Undivided Interest, floating or flex periods, usually deeded. Be aware that you basically own stock in the timeshare resort not a set time period.

Exchange companies

There are many timeshare exchange companies. The largest timeshare exchange company, Resort Condominiums International RCI with over 3500 resorts in over 80 countries world wide. The next largest is Interval International II.

Using these two companies that control over 90% of the exchange industry.

RCI color scheme as follows:

Red Season – Best: high-peak season. Most want to be at the timeshare resort this time of the year (highest demand). You can check in any time, if you own a Red Floating/Flex period. Prime weeks may be expensive, so plan on paying it’s worth, if you are planning on buying a peak season week, In prime areas.

White Season – Better: Also known as, Mid Season. This is the time of year right before the Peak Season starts and right after the Peak Season is over. You can check in during the mid season and the off season dates, if you own a White Floating/Flex period.

Blue Season – Good: Also known as Off Season. This is the time of year where the timeshare resort and location is of the least demand. You will only be allowed to check in during these off season dates, if you own a Blue Floating/Flex period. Plan on getting it at lower cost, if you are planning to buy a off season week.

NOTE: Interval International rates Blue as Green, Red as Red, and White as Yellow.

Periods of Timeshare Ownership

Normally your time share period is numbered from 1-52. Week 1 would be in the first week of the year and Week 52 would be the last week of the year.

There are also Flex/Floating periods that can be divided into seasons. If the timeshare ownership is for a Flex/Floating period, according to your ownership, you can check in on different dates.

Size of Timeshare Ownership

Studio: A smaller unit that is like a motel room. Sleeps up to four

One Bedroom: like a smaller size apartment: living room, kitchen, with a bedroom. normally sleeps 4, 2 in bedroom, 2 on a sofa sleeper in the front room.

Two Bedroom: normally sleeps 6, 2 in one bedroom, 2 in the other bedroom and 2 on a pull out sleeper sofa in the living room. Some two bedroom units sleep 8.

Lock-Out: Usually called A/B units. Lock out units vary in size, divided into separate apartments. They will have their own bedroom/living room area. One side normally full kitchen. The other side can be in size from a hotel room to a full apartment. If you own a Lock Out, you can use one and rent or exchange the other. Units can sleep eight to twelve people.

Costs of Timeshare Ownership

The price is set by the owner. Prices reflect unit size, color, location and preferences. Deeded properties are more expensive than other
types of ownership because they have an equity base.

Location can play a big role in pricing. Lakeshore, seashore and mountain areas can be expensive. Deeded with other peoples timeshare does not cause the timeshare property value to drop.

You can see why a deeded two bedroom unit, in a popular area during Peak Season would cost more than a studio unit during the Off Season.
Miscellaneous Terms

Purchase Price: The amount of cash paid for timeshare ownership plus transfer fees that Can range from $50 to $500.

Maintenance Fee: This would be the cost paid yearly for up keep of your timeshare unit. This cost can range from $300 to $1000.

Property Tax: The amount of tax paid by you for your timeshare unit. This amount is usually reasonable, ranging from $10 to $100. This is many times part of the maintenance fee.

Special Assessment: Timeshare resorts can require you to pay a certain amount of money on a irregular basis. Usually for a remodeling, check your documents for the amounts that can be charged and how often they may charge you. This amount can range from $20 to $500, you may want to check the timeshare resort history record for past amounts.