How Do Timeshare Points Work?
Timeshare points are used as a type of vacation currency that owners utilize to book their future travels. Though point-based timeshares can vary depending on the vacation club, the general concept for using any timeshare points system is the same:
Owners use their allotted timeshare points to book vacations at the properties within their club's network, which have individual rates. These rates are determined by the demand of the specific destination, resort, unit size, week(s), and number of days a vacationer wants to travel. Points provide so much customization, they even give owners the chance to enjoy one of the most beloved features of points-based timeshares—the ability to vacation multiple times a year under a single ownership contract!
If you find the rate for a specific vacation cost more than your current number of Use Year points, some clubs allow you to rollover your points, borrow from the next Use Year, and even purchase additional timeshare points down the road to keep up with your changing vacationing needs.
Types of Timeshare Points
There are two types of ownership for timeshare points. The first is at a Home Resort where a timeshare owner owns a physical real estate interest at one particular resort property which is represented by timeshare points. The number of timeshare points allocated are determined and backed by the specific property, unit size, week(s), type of timeshare contract and frequency use purchased. The more desirable these characteristics are, the more points are issued to the owner.
The second is through a multi-destination ownership program that doesn't have a designated Home Resort, but instead has its own unique timeshare points system. Vacation clubs may have particular reservation window rules and guidelines or may have no reservation windows at all. Owners will want to dive into the details of their ownership to ensure they increase the chances of booking the exact trips they want to take in the future.
Timeshare Points Vs Weeks
To put it simply, timeshare points provide owners the ability to book more customizable vacations at different club locations, weeks, unit sizes, and other variables based on their number of points they are allotted annually while timeshare weeks allow owners the stability of knowing exactly when and where they will be vacationing each year.
Over the years, the timeshare industry has adapted to the needs of vacationers and more flexible travel options. The timeshare points system was created as an alternative to traditional fixed- and floating week timeshares. Fixed and floating timeshares provide its owners usage rights to a specific resort, week(s), usage frequency (annual, biennial, biannual, triannual, etc.), and unit size which determine exactly when and where they will have the chance to vacation. On the other hand, points timeshares allow its members to book vacations at different resorts within the network, during different times of the year, book different unit sizes, and customize the length of their trips.
In some instances, brands will allow owners to convert their fixed- and floating week timeshares into timeshare points and utilize similarly to how point-based owners are able to book their vacations.
What to Know About Timeshare Points: Point-Based Clubs
Some of the largest timeshare points programs include:
Members can choose where, when, and for how long they want to travel. With extensive property inventories around the globe, high hospitality standards, and impeccable on-site amenities, owners have fallen in love with these types of timeshare programs for the growth and change they allow in their vacationing year after year.
How Timeshare Points Work on the Secondary Market
Like with all other timeshares, the secondary market is an ideal place to find an incredible discount on a desirable point-based timeshare. Instead of participating in stressful timeshare sales presentations and dealing with inflated prices, you can simply shop for a timeshare from the comfort of your own home. Place offers, negotiate with motivated owners, and only pay a price you're comfortable with. Browse point timeshare resales and rentals are one of the best ways for people to travel to different areas of the world, stay at their favorite resort brands, and save thousands of dollars.
One of the most important notes to make when considering a timeshare resale with points usage is that some point-based timeshares have resale restrictions on their ownership usages. This means that, depending on the club, resale owners might not be able to use their points in exactly the same ways as those who buy through the developer. It's essential for interested buyers to do their research and learn about these rules and how to use timeshare points before making any purchasing decisions. Fortunately, majority of the timeshare brands with stricter limitations are affiliated with leading external timeshare exchange companies. This means that resale owners can purchase an affordable annual membership to an exchange company like RCI or Interval International, deposit their timeshare points, and trade with comparable timeshares in their vast database—still allowing owners the greatest amount of options and flexibility in annual vacationing.
Still Have Questions About How to Use Timeshare Points?
It can be tricky to navigate the vacation ownership industry, but there are professionals out there who can assist you! The independent timeshare resale experts at SellMyTimeshareNow would be happy to help answer any and all of your questions. From "What are timeshare points?" to, "Which program is best for my needs?" our team will be here with you every step of the way. Please fill out our contact form or speak to one of our representatives directly at 1-877-815-4227.