Timeshares

Timeshare Information

In the past, timeshare developers and resort companies have been neglectful when it comes to providing their owners and renters with a reliable source of timeshare information. To remedy this oversight and aid our customers, Sell My Timeshare NOW has compiled a collection of the most frequently asked questions about timeshares, timesharing and vacation ownership.

Frequently Asked Timeshare Questions

What is Timeshare?
Timeshare (also spelled "time share" and "time-share") is the term used to describe a vacation property or resort accommodation that is jointly owned (or leased, in some cases) by multiple people. Each co-owner or co-lessee of the timeshare property is permitted to use it during specified time periods each year (known as timeshare intervals).

You may also hear us and other companies refer to vacation ownership or vacation memberships, which are other terms used to describe shared ownership of vacation real estate.

How Long is a Typical Timeshare Interval?
In most cases, timeshares are sold in intervals consisting of seven days. While week-based timeshares are the most popular, other types of timeshares do exist, such as points-based ownership.

If I Buy Resort Timeshare, Can I Use the Vacation Property at Other Times in Addition to My Interval?
Many resorts allow owners to rent additional time at a reduced rate unavailable to the public. Resorts often call this "bonus time".

What Size is a Typical Timeshare Accommodation?
There isn't a one-size-fits-all description of the typical timeshare, because timeshares are anything but typical accommodations. Timeshares can range from hotel rooms, to studio units with small kitchenettes, to spacious apartment-style suites with three bedrooms, to vacation townhouses with upwards of five bedrooms. The type and size of the timeshare you select will depend on your needs, the size of your family and the destination you choose.

Traditionally, timeshares were units in condominium vacation resorts. However, due to the popularity of the timeshare ownership model, the concept has since been applied to everything from campgrounds to houseboats.

What Amenities Will I Find in Most Timeshares?

A Note to Our Readers: Standard and possible features described above reflect typical offerings of a one-bedroom timeshare unit. Amenities will vary by resort as well as by unit.

Can We Take Our Pets on Vacation with Us?
Simply choose a pet friendly timeshare resort, and your furry companions are more than welcome to share the joy of timesharing with you! For more information and a list of the pet friendly timeshare resorts we currently have available, please visit our pet friendly timeshares page.

What is a Lock-Off Unit?
A lock-off unit is a timeshare which can be separated into two or more smaller, independently functioning units depending on the owner's needs. For instance, a two-bedroom lock-off can be split into a one-bedroom unit and a studio unit by means of a key-controlled door. Lock-off units (also known as "lock-out" units) give owners several options for usage. They can use both sides of the unit simultaneously to accommodate more guests; they can reserve use of one side of the unit for an additional vacation week that year; they can rent one or both sides to a non-owner; or they can exchange a week in one side of the unit for a vacation week at an entirely different resort.

What Does it Mean to Exchange a Timeshare Week?
There are two types of exchange options available to timeshare owners: internal exchange and external exchange. Internal exchange refers to the practice of trading your timeshare week for another week of similar value within the same resort family or group. For instance, an owner of a Wyndham Bonnet Creek timeshare in Lake Buena Vista, Florida, might trade for a timeshare at Wyndham Pagosa in Pagosa Springs, Colorado.

External exchange refers to the practice of banking your timeshare week with an exchange company so that you can then exchange it for a timeshare week at a resort outside your resort family or group. For instance, that same owner might exchange her week at Wyndham Bonnet Creek for a timeshare at the Las Vegas Hilton in Las Vegas, Nevada, using the services of an external exchange company like RCI, Interval International or Trading Places International. Please visit our page on timeshare exchange to learn more about external exchange opportunities.

What Does it Mean to "Bank" Your Timeshare Week?
When dealing with an external exchange company, the owner has the option to reserve or deposit unused timeshare intervals to be used at a later time. The owner typically has two years to use the week within the exchange company's network of resorts. However, for a fee the banked time can often be extended up to one year.

What is the Difference between Fixed, Floating and Flex Timeshare Weeks?

Fixed Weeks will usually be identified by a number from one to fifty-two. For example, the first full week of January is Week 1, and the last week of December is Week 52. Most fixed weeks begin on Friday, Saturday or Sunday. When you have a fixed week you can only stay at the resort during your assigned week and typically in an assigned unit that does not change from year to year. View our timeshare calendar to learn more about fixed weeks.

Floating Weeks require you to contact the resort to designate your desired week each year. You can make a reservation for any time during the calendar year, however what you'll be able to reserve is always based on availability (some weeks are always excluded for upper level memberships, and if you wait too long to reserve, the week you desire might not be available). If you own a floating week, be sure to reserve your desired week well ahead of time to ensure that you are not disappointed.

Flex Weeks require you to make a reservation each year during an assigned season. Flex time may be labeled by literal season (winter flex, summer flex, etc.), though more often flex time is labeled by a color which designates seasons based on demand for accommodations (red, white, yellow, blue, green etc.). Since the terminology varies among the different vacation resort companies, be sure to do your research before buying timeshare so that you know exactly what you're getting.

What Colors Represent High-Demand and Low-Demand Timeshare Seasons?
Most resorts use three principal colors to determine the demand of their seasons. Affiliates of RCI (the largest timeshare exchange company) commonly use Red, White and Blue designations. Red is peak or high season when there is greater demand for resort weeks. White is mid season when there is an average demand for resort weeks. And Blue is off-peak or low season when there is lesser demand for resort weeks. Affiliates of Interval International (the second largest exchange company), on the other hand, use Red, Yellow and Green designations for high, average and low demand timeshare seasons, respectively.

A Note to Our Readers: Since demand affects price and trading power, seasons are an important factor to consider before buying. It is also important to remember that the Red season at your resort may fall during slightly different or entirely different dates than at a resort to which you may wish to trade.

What is the Difference Between Annual, Biannual, Biennial and Triennial Timeshare Ownership?
Annual usage is the most common form of timeshare ownership in which the owner is entitled to one vacation interval each year. Biannual ownership entitles the owner to two vacation intervals per year. Biennial ownership entitles the owner to one timeshare interval every other year. And triennial ownership, the least common form of timeshare ownership, entitles the owner to one vacation interval every third year.

How Do RCI and II Rate the Timeshare Resorts in their Exchange Networks?
RCI awards three distinctions to resorts in its network: Hospitality, Silver Crown and Gold Crown. The Hospitality award is given to resorts that consistently excel in hospitality and the check in/check out process. Silver Crown and Gold Crown awards are given to resorts that excel not only in hospitality but also in unit amenities, resort amenities, guest services, housekeeping and general maintenance. Distinctions are awarded based on RCI member ratings.

Interval International rates its in-network resorts using a star-system. A Five-Star distinction is the most desirable rating. II's rating system is comparable to that of RCI.

Why are Timeshare Resales Less Expensive than Purchasing Directly from a Resort?
Please visit our timeshare resales page for in-depth information on this topic.

Where to Go From Here

Visit our Timeshare FAQ for Buyers page.
Visit our Timeshare FAQ for Sellers page.

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