Timeshare is a form of ownership or use of rights for a specific vacation property, like condominium units, motels, or cottages. Along with that, owning a timeshare allows you to exchange for another accommodation in a different place.
However, just like any other investments, there are things you should consider first before owning a timeshare. To understand this further, here are four types of timeshare programs.
1. Fixed Week
The fixed week program gives you the rights to own a certain accommodation for a specific week only. For this type of ownership, you can use the said unit for the same period of time every once a year. Though it provides little flexibility, you still have the option of selling your Brisbane management rights for something similar in other units or locations.
2. Floating (or Flexible Time)
Unlike the fixed week, this program allows you to make a reservation based on the time or duration of the time you want. While this option gives you more freedom, you might have trouble scheduling your stay when other owners or shareholders decide to snap up your preferred dates.
3. Right-to-Use (RTU)
In this program, you lease the property for a given amount of time each year for a limited amount of years. This means that your rights will expire at a certain period of time stated in the contract. Thus, the developer still maintains the ownership for the property all throughout the deal.
4. Points or Club Membership
Points club is somewhat similar to the floating timeshare. The only difference between the two is this program gives you more freedom to stay on various locations. Of course, this will depend on the total points you’ve accumulated from purchasing properties or from buying points from affiliated clubs. Points are then used as currency and timeslots on the reserved unit. However, the arrangement for this type of timeshare is on a first-come, first-served basis.
Timeshare is a great way to own a popular holiday property. Know which one suits your lifestyle and management philosophy to make the system work for you.