Timeshare FAQ | Timeshare Resale & Rental Info | TimeshareWeb.com (2022)

Have questions about timeshare and vacation ownership? Here you’ll find answers to our most frequently asked questions about timeshare resales & rentals. See below to learn more or call 855-849-2028 to ask a question of your own.

What are the different types of timeshare ownership?

A major difference in types of vacation ownership is that between deeded and right to use contracts. See below to learn the difference.

Deeded Ownership

With deeded timeshare, you’ll receive a deed to your “share” of the resort, similar to purchasing real property. All timeshare deeds are recorded in the public records, similar to traditional real estate.

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The owner holds the rights to use, sell, rent, or bestow the timeshare as they wish. The owner is also liable for his portion of taxes, which usually are collected with the annual maintenance fees. This form of ownership can offer additional security to the owner as a form of “physical” ownership.

Leasehold Ownership

Similar to a deeded timeshare, a leasehold timeshare provides the right to use the ownership for a fixed period of time. After the leasehold is complete, ownership returns to the developer or resort. Occasionally, leasehold deeds are offered in perpetuity or long-term commitments. Owners are liable for applicable fees and subject to the terms the timeshare contract.

Right To Use (RTU) Ownership

A right to use ownership entitles the buyer to use a timeshare for a certain length of time. Typically, these timeshare contract come with an expiration date from 25–99 years. Be aware when purchase a right to use ownership through a timeshare resale, you’ll only “own” the timeshare for the remaining years of the contract. However, many resorts will let you renew your lease when it expires.

In many countries there are limits on foreign property ownership, so this is a common method for developing resorts in countries such as Mexico. Disney Vacation Club is also sold as a right to use. Owners are liable for applicable fees and subject to the terms of the timeshare contract.

What are timeshare weeks and points?

Fixed Timeshare Week

A fixed week ownership guarantees the owners use of that same week each year. Fixed timeshare weeks are usually assigned a certain number depending on when that week occurs during the year. A fixed week ownership is great for those who can only vacation during specific seasons or specific week each year.

For example, most teachers are off during the summer season and prefer to own a fixed timeshare week during summer season. Therefore, a teacher who owns a fixed week 28 at the Sheraton Vistana Resort located in Orlando, FL will always be guaranteed the ability to use the first week in July (Week 28) at Sheraton Vistana Resort each year without the concern of availability.

Floating Timeshare Week

Unlike a fixed week ownership, a floating week ownership allows the buyer to choose which week they wish to travel each year. However, some floating weeks may still be restricted within a certain season.

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For example, some floating week ownerships allow you to choose any one week per year, others only float weeks within a certain timeframe generally by season. Therefore, for those that enjoy skiing, snowboarding, and other winter activities, a winter floating week ownership at the Christie Lodge resort located in Avon, CO consisting of floating weeks 1-14 would be a better choice than owning a fixed week 28 in Orlando, FL as described above. This winter floating week ownership would allow you to travel one week each year at the Christie Lodge resort on a reservation basis that falls between Weeks 1-14.

Timeshare Points

Similar to floating week ownerships, a points-based timeshare allows the owner to choose which dates they wish to travel each year based on the number of points that they own. Points-based ownerships generally offer more flexibility than a traditional ownership.

Typically, you can use your timeshare points to book a single night or multiple weeks, depending on your yearly allowance. Points-based ownerships are usually attached to more than one resort which gives you even more flexibility. For example, if you own 300,000 points at one of the Wyndham Vacation Resorts, not only will you have the ability to use those points at your home resort, you will also be able to make a reservation with those points at any other Wyndham Vacation Resort that is part of the Wyndham points program.

What are timeshare seasons?

Timeshare resorts and exchange companies designate “timeshare seasons” as a way to differentiate the perceived value of a timeshare week. The most popular seasons were created by the timeshare exchange companies RCI and Interval International (II). These season range in popularity from the most popular (Red), to mid-level (White for RCI or Amber for II) and to off-peak (Blue for RCI or Green for II).

These seasons are used for the calculation of trading power in exchanges. Each resort has different seasons depending on the geographic location. To view the resort and season you may visit RCI or II atRCI.comand IntervalWorld.comrespectively.

What are maintenance fees?

Timeshare maintenance fees are dues paid to the resort for upkeep and renovations. The cost of maintenance fees are outlined in your timeshare contract, but could increase or decrease at any time.

Maintenance fees are typically billed once a year but some are billed monthly or quarterly. Maintenance fees are primarily used to cover timeshare and resort maintenance, insurance, management company fees, utilities, and taxes. These fees vary with each resort and often vary based upon the size and type of timeshare unit.

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Are timeshares taxed?

Taxes on most timeshares are already included in the maintenance fees. In some states, such as Florida and California, they may be billed separately.

What is timeshare exchange?

Timeshare exchange allows you to travel to different resort and locations. Exchanging your week also allows you to travel during a different time of year or split your week into multiple trips. Some developers allow internal timeshare exchange within a variety of resorts, but most use a third-party timeshare exchange company.

Timeshare Exchange Company

Exchange companies allow timeshare owners to swap weeks and points to increase their travel flexibility. Rather than be limited to just one timeshare resort, an exchange company opens your options to thousands of choices. Popular exchange companies include Interval International (II), Resort Condominiums International (RCI), and Dial an Exchange (DAE).

Typically, exchange companies charge a fee for membership, and another small fee for every transaction made through them.

Trading Power

Trading power is the perceived value of a timeshare week. Factors affecting the exchange value include the resort rating, the season, the week, the size of the unit, and the amenities of the unit.

Banking

Timeshare exchange usually provides the option to save your week—or a portion of your week—for future use. This is known as banking or banking a week. Each exchange source will specify time limits on the length of time you can bank a week. Verify this with your timeshare exchange program.

What is a timeshare usage?

Timeshare usage dictates how often an owner can use their timeshare. See below to learn the most common intervals of timeshare usage.

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Annual

The right to use an owner’s fixed week, floating week, or points based ownership every year.

Biannual

The right to use a timeshare ownership twice a year. Note this is different from biennial usage below.

Biennial

A biennial usage allows you to use the timeshare every other year. There are odd and even year biennial timeshare contracts. Examples of a biennial even year usage would be 2014, 2016, 2018, etc.

Triennial

Similar to a biennial, a triennial ownership allows you to travel every third year.

FAQs

Can I sell my timeshare back to the resort? ›

Deed-back programs allow you to sell your timeshare interest back to your resort developer. Technically, you don't receive any money in return for a deed back, but it can deliver you some future savings with your mortgage payment and maintenance fee.

Is it worth selling your timeshare? ›

Timeshares are not an investment, so you likely won't get much for your timeshare. Timeshares rarely appreciate in value. But if you want to say goodbye to maintenance fees and annual dues forever, especially if you are no longer using your ownership, selling is one of the best ways to do so.

How do I sell my timeshare myself? ›

To start with, you can use sites like eBay, Craigslist and Timeshare Users Group. Also, look for “sold” listings. They're a more accurate indicator of price than one that's only listed (which is often the wishful thinking of what an owner wants to get for their timeshare).

Can timeshares be rented out? ›

A frequently asked question by timeshare owners is, “can I rent out my timeshare?” The answer is generally yes. Most timeshare owners will be able to safely rent out their weeks or points by using a marketplace such as Timeshares Only.

What is the average cost to get out of a timeshare? ›

Costs to Get Out of a Timeshare

On average, it costs about $5,000 to $6,000 and takes 12–18 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your timeshare.

What happens to timeshare when owner dies? ›

However, in the case of the owner's death, a timeshare becomes part of the estate, and therefore, the obligations attached to it are passed onto the next-of-kin or the beneficiary of the estate.

Do timeshares appreciate in value? ›

A timeshare is not an investment. Investments are designed to appreciate in value, generate income, or do both. A timeshare is unlikely to do either, despite what the salesperson says.

Why is it so hard to sell a timeshare? ›

Why is selling a Timeshare so tough? The main reason is quite simply, supply and demand. The supply of timeshare resales greatly exceeds the demand for resales. This has always been the case in the timeshare industry due to the fact that so few people even realize you can buy a timeshare resale!

How do you find the fair market value of a timeshare? ›

Your timeshare's value is determined by the average asking price of similar timeshares being advertised for sale and rent on BuyaTimeshare.com at your particular resort. Values can vary by resort location, resort brand, season, unit size and more. Your ownership documents will have all of the information you need.

Can I claim a timeshare on my taxes? ›

Yes, you can get a deduction from the property taxes you pay on your timeshare. Just be sure you follow the rules to make it stick: The taxes assessed must be separate from any maintenance fees (the two are sometimes lumped together in timeshare bills).

Can you write off timeshare maintenance fees? ›

1. Maintenance fees. The money you pay to maintain the property may be tax deductible, but only if you rent your timeshare. If you own the timeshare outright, however, you can't deduct the maintenance fees.

What is the best way to get rid of your timeshare? ›

To get out of a timeshare legally, consider these options:
  1. Use the rescission period.
  2. Call the timeshare developer.
  3. Rent your timeshare out.
  4. Sell your timeshare on the resale market (but expect to take a hit).
  5. Gift your timeshare to a friend, family member or stranger.
21 Apr 2022

Can I use someone else's timeshare? ›

If you don't use your timeshare in a given year, you have the option of letting someone else use the unit. You can simply give them the usage, or rent out the unit.

What is a timeshare rental? ›

A timeshare is a shared ownership model of vacation real estate in which multiple purchasers own allotments of usage, typically in one-week increments, in the same property. The timeshare model can be applied to many different types of properties, such as vacation resorts, condominiums, apartments, and campgrounds.

What is the biggest timeshare company? ›

Wyndham Destinations (NYSE:WYND), the world's largest vacation club and exchange company, is on a mission to put the world on vacation.

What happens if you stop paying maintenance fees on a timeshare? ›

If you stop paying your timeshare maintenance fees, you will likely default on your ownership. This not only hurts the resort, but it hurts you and your credit. Like a home going into foreclosure, the resort takes the ownership back and it will stay on your credit report.

What does Dave Ramsey say about time shares? ›

Dave Ramsey says you get nothing out of paying for a timeshare except the loss of choices and the loss of your money. Timeshares are seriously a terrible use of your money!

Can I cancel my timeshare on my own? ›

The only foolproof way to rid yourself of a timeshare is to legally cancel the contract. Whether you go with one of these or another company, just make sure their only method is to negotiate directly with your timeshare.

Do kids inherit timeshare? ›

Legally speaking, most timeshares become part of an individual's estate when they pass away. Essentially, timeshare inheritance is bundled in with other estate assets an heir stands to receive.

Do children inherit timeshare? ›

If you die owning a timeshare, it does become part of your estate and obligations are indeed passed onto the next-of-kin or the estate's beneficiaries. However, they do not have to accept it, in the same way that anyone has the right to refuse any part of an inheritance.

Can a timeshare put a lien on your house? ›

If a repayment plan isn't negotiated, the timeshare company might go the route of taking you to court for breach of contract to get a judgment against you and place a lien against the property. Ultimately, they will foreclose on the property.

What should I do instead of a timeshare? ›

People often fall for timeshare scams because they want the space and luxury of a home. But home rental services like Airbnb, VRBO and HomeAway let you stay in a vacation home with amenities like a kitchen and actual bedrooms—which you won't get in standard hotel rooms—without the crazy cost of a timeshare.

Do people still buy timeshares? ›

It's still a growing industry. According to 2018 United States Shared Vacation Ownership Consolidate Owners Report, 7.1% of U.S. households now own one or more timeshare weeks. That's about 9.6 million owners or ownership groups.

How do you beat a timeshare sales pitch? ›

7 Timeshare sales techniques that work
  1. Research your audience. All good salespeople get some background on their target audiences, but timeshare salespeople need to delve even further. ...
  2. Be upfront. No one likes to feel manipulated. ...
  3. No pressure. ...
  4. Keep calm and sell on. ...
  5. Create a fear of missing out. ...
  6. Leave the door open. ...
  7. Follow up.
12 Dec 2018

How much do timeshare salesmen make? ›

How much does a Timeshare Sales Representative make in USA? The average timeshare sales representative salary in the USA is $100,000 per year or $51.28 per hour. Entry level positions start at $82,500 per year while most experienced workers make up to $140,000 per year.

How do you sell a timeshare that is paid off? ›

Timeshare Resales

If deeding back your timeshare isn't an option, another solution for how to sell a timeshare that is paid off is pursuing a timeshare resale. To do this, you can hire a real estate agent to evaluate the value of your property and help you sell your timeshare weeks on the resale market.

How much can u make selling timeshare? ›

The annual income for a timeshare sales rep is generally between $70,000 USD and $120,000 USD. A new timeshare sales rep is expected to make around 2-3 sales per ten clients that they come in contact with, which means at least 2-3 sales each week.

What is the value of a time share? ›

The average sales price for a one-week timeshare was $22,942 in 2019, according to the American Resort Development Association (ARDA), an industry advocacy group.

Why are timeshares so cheap? ›

Most people trying to sell their timeshares aren't businesses, and so don't have those costs to recoup. This helps keep the prices low, even though they're selling the same thing as the developer or resort. Additionally, businesses can afford to wait for a while to find a buyer that's willing to pay a higher price.

What is Marriott destination program? ›

The Marriott Vacation Club Destinations Program is a points-based vacation ownership program allowing owners to quickly and easily reserve their vacation time, choosing any resort in Marriott Vacation Club´s extensive portfolio of resorts.

How can I legally get out of my timeshare? ›

To get out of a timeshare legally, consider these options:
  1. Use the rescission period.
  2. Call the timeshare developer.
  3. Rent your timeshare out.
  4. Sell your timeshare on the resale market (but expect to take a hit).
  5. Gift your timeshare to a friend, family member or stranger.
21 Apr 2022

How do you sell a timeshare that is paid off? ›

Timeshare Resales

If deeding back your timeshare isn't an option, another solution for how to sell a timeshare that is paid off is pursuing a timeshare resale. To do this, you can hire a real estate agent to evaluate the value of your property and help you sell your timeshare weeks on the resale market.

What happens if you stop paying maintenance fees on a timeshare? ›

If you stop paying your timeshare maintenance fees, you will likely default on your ownership. This not only hurts the resort, but it hurts you and your credit. Like a home going into foreclosure, the resort takes the ownership back and it will stay on your credit report.

Why is it so hard to get out of a timeshare? ›

Canceling your timeshare can also be difficult due to financial reasons. Resorts are notorious for encouraging people to make a down payment on a credit card. Putting a substantial investment on your credit card is never a wise idea. Your interest rates will skyrocket, and it'll take you a while to pay it down.

Can I cancel my timeshare on my own? ›

The only foolproof way to rid yourself of a timeshare is to legally cancel the contract. Whether you go with one of these or another company, just make sure their only method is to negotiate directly with your timeshare.

What does Dave Ramsey say about time shares? ›

Dave Ramsey says you get nothing out of paying for a timeshare except the loss of choices and the loss of your money. Timeshares are seriously a terrible use of your money!

How do you find the fair market value of a timeshare? ›

Your timeshare's value is determined by the average asking price of similar timeshares being advertised for sale and rent on BuyaTimeshare.com at your particular resort. Values can vary by resort location, resort brand, season, unit size and more. Your ownership documents will have all of the information you need.

Do timeshares ever get paid off? ›

The only way to get rid of your timeshare maintenance fees and the other special assessment fees altogether is to get rid of your timeshare. Because as long as you own the property, there's really no way to end the yearly onslaught on your bank account.

Can timeshares be passed down to heirs? ›

If you die owning a timeshare, it does become part of your estate and obligations are indeed passed onto the next-of-kin or the estate's beneficiaries. However, they do not have to accept it, in the same way that anyone has the right to refuse any part of an inheritance.

Can a timeshare put a lien on your house? ›

If a repayment plan isn't negotiated, the timeshare company might go the route of taking you to court for breach of contract to get a judgment against you and place a lien against the property. Ultimately, they will foreclose on the property.

How long does it take for a timeshare to go into foreclosure? ›

For example, in 2010 Florida passed a timeshare foreclosure law that shortened the amount of time needed to process a timeshare foreclosure from 18 months to just 90 days. However, in other states, the foreclosure process could still take up to a year or more.

How often do you pay maintenance fees with a timeshare? ›

In rare occurrences, some resorts have requested fees to get billed monthly, quarterly, or even bi-annually. However, generally, you can expect an annual maintenance bill. It's also worth noting that maintenance fees typically increase around 5% each year. So, be prepared for these price increases.

How can I get rid of my timeshare without ruining credit? ›

How to Get Rid of a Timeshare Without Ruining Credit
  1. Is There a Rescission Period? ...
  2. Work with a Timeshare Exit Company. ...
  3. Rent Your Timeshare.
  4. Sell Your Timeshare.
  5. File Complaints with Regulators and Law Enforcement.
  6. Give or Sell It Back to the Timeshare Developer. ...
  7. Ask your Developer for Help.

Do timeshares have equity? ›

Timeshares, introduced in the United States in 1969, are a way to buy the right to use a vacation property for a specific amount of time. That means no true property ownership and no gained equity.

What is a timeshare deed back? ›

A deed back clause or program allows you to legally give your timeshare back to the resort, but until then, you remain responsible for paying the maintenance and special assessment fees along with your mortgage payments.

Videos

1. Renting Out Your Timeshare
(Timeshare Info)
2. How to RENT your TIMESHARE
(Timeshare info)
3. How To Make Over $2000 Per Month Flipping Timeshare Weeks
(Timeshare info)
4. How to rent your timeshare on Airbnb 1: Create Your Listing
(Timeshare Rental Strategies)
5. timeshare salesman reveals all
(Marshall Bishop)
6. How to EXIT a Timeshare
(Timeshare info)

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