Renting a Timeshare Week
Many say "Renting a Timeshare" property can be the most cost-effective way to vacation. Certainly it is a way you can obtain above average resort accommodation at reasonable prices. Resorts with a range of domestic and international destinations. Resorts with a range of holiday styles, including the beach experience, theme parks, gambling, golf, adventure parks, health spas and mountain retreats. Or just luxury pampering at an exotic location. In spacious condominium accommodation, that is often more like an architect-designed home than a hotel.
To know why timeshare vacations can be more cost effective you have to understand the market forces that drive the industry. It is quite simple really. This will prove to be a useful exercise if you are thinking of renting a vacation property now or in the future.
Knowledge is Power
Firstly, we need to understand some essential facts about the timeshare industry:
- Timeshare is, in its simplest form, the shared ownership, or condominium ownership, of real estate. That shared proprietorship gives certain owner’s rights. The first and most important is the right to occupy, as the owner, that property for one week each year. That gives rise to the term “Timeshare week”.
- The real estate is usually a unit, or condominium, in a resort or multi-unit development. Condominium incidentally has two meanings. The original, and really the primary meaning is “shared sovereignty or shared ownership.” The second meaning is “ a unit within a multi-unit development.” For a more complete treatment of this go to “History of Timeshare.”
- There are now nearly six million families worldwide who own Timeshare properties
- Over two million of these families are US citizens.
- Due to changed circumstances---death, divorce, business pressures et cetera---a percentage of these families find themselves unable to use their Timeshare properties in any given year.
- The only outgoings the family has in owning the condominium is the yearly upkeep of the common property. This is usually somewhere in the vicinity of $600 to $800 per annum.
- These properties were often purchased five, ten or more years ago for a relatively----- relative to the cost of an equivalent property today---small investment.