Timeshares are a great way of enjoying the vacation while owning the piece of property with a standard of quality, through which personal expectations are satisfied year after year with the certainty of good facilities with comfortable accommodation made available to the person owning it. The concept of timeshare enables the person to experience a quality holiday among the company of fellow owners like him.
The timeshare concept is very simple. A person enjoys ownership by buying a week or weeks for a fixed number of years or for his life in a luxury holiday resort or home. The owner only pays for his share for the upkeep and development of the property he owns. High quality of furnishing and amenities are made very affordable because the developmental cost is shared among all the owners.
Different types of timeshare ownership:
Fixed timeshares: This kind of timeshare is only for a particular week or days of the year. The resort sells the particular unit of time says a week or weeks of the year to the person who is willing to buy it. The rest of the year, other owners in similar fashion utilize it.
Floating timeshare units: A floating timeshare too is only for a particular period of time fixed. But there is no specification of dates and that is the advantage of floating timeshares, say the owner is eligible to stay for a week of summer, it can be defined by the owner, which week of summer he would like to holiday.
Rotational timeshare units: This combines the benefits of both the fixed and the floating types of timeshares. The rotation of holiday stay can go either backward or forward on the season and calendar, giving opportunity to all owners on a rotational basis.
Apart from the above three types of timeshares, there are two more kinds of ownership of timeshare properties, one being the deeded and the other right to use type of ownership. According to the deed of property, the owner owns a bit of the real property, bought and sold under the by-laws of the community according to the owner’s wishes. The right to use kind, allows the person to have right on the property for a particular period of time for a fixed number of years, after which he does not have any rights on the unit or facilities or the time slot.
Due to the increase in popularity of timeshare concepts apart from the resorts and apartment-style accommodations, it is possible to have a cruise ship timeshare, campground timeshare, yacht, and even private jet kinds.