Timeshare Resales & Timeshare Rentals

Anniversary Date

The Points Anniversary Date is the day that points accumulate annually.  Applicable for Point based timeshare resorts.

 

ARDA (American Resort Development Association)

ARDA is based in Washington, D.C., this is the foremost trade association representing the timeshare ownership and property development industries. ARDA advocates on behalf of resort owners and developers and also lobbies for the industry. ARDA was first known as the American Land Development Association, originally founded in 1969. Today, ARDA is comprised of nearly one thousand small companies and large conglomerates from all over the world.

 

Banking

Timeshare banking is the option to save unused weeks, or points, to be used later.

 

Biennial

Biennial usage is a timeshare week that occurs every other year.

 

Calendar

Timeshare Calendars are used to determine usage within a particular designated year and check in day.

 

Closing Costs

Closing Costs are expenses incurred during the timeshare resale closing process that are charged by a Timeshare Closing Company.

 

Escrow

Escrow is an account specifically set up to hold and transfer funds for a timeshare sale that occurs between a timeshare buyer and seller. The Escrow Account should be managed by the Timeshare Title Company or your Timeshare Real Estate Broker.

 

Exchange

Timeshare Exchange refers to the option to trade one timeshare week for another timeshare week. 

 

Exchange Company

Timeshare Exchange Companies are third-party organizations that facilitate the exchange of timeshare weeks. The three major timeshare exchange companies are; RCI, Interval International and SFX Exchange Company.

 

Fixed Unit

Fixed Timeshare Unit means that the owner may use the same physical unit every year.

 

Fixed Week

Fixed Timeshare Week is a specific week during the timeshare calendar year based on the check in day.

 

Floating Week

Floating Timeshare Week may be used any time during the calendar year based on a resort's availability.

 

Interval International

Interval International is the second largest exchange company in the world.

 

Internal Exchange

Internal Exchange refers to exchange of a timeshare week within a particular resort network.

 

Lease

Timeshare Lease is an agreement that allows for timeshare usage at a designated resort.  Typical timeshare leaseholds have a 30 year term.

 

Lockout or lock-off unit

Timeshare Lockout or Lock-off is a unit that can be divided into two or more separate sections that can be used or rented together or separately.

 

Maintenance Fee

Timeshare Maintenance Fees are billed by the timeshare management company of a particular resort or the home owners association responsible for the upkeep of the property.

 

Odd- or even-year usage

Odd or Even Year Timeshare Usage is ownership where the owner can use the property every other year.

 

RDO

Resort Development Associations formerly OTE (The Organization for Timeshare in Europe) is a trade association in Europe composed of resort owners and developers.

 

Points

Timeshare Points are a measurement used by exchange companies and timeshare owners to establish value for seasons, sizes of resorts, and resort locations.

 

RCI

RCI (Resort Condominiums International) is the largest timeshare exchange company in the world. 

 

Red Week

Red Week" refers to the peak season at a resort during which timeshare properties are at their most desirable and demanded.

 

Resale

A Resale timeshare is a timeshare property that is offered for sale by the original purchaser from the timeshare developer.

 

Rescission Period

Timeshare Rescission is a grace period allowed by law and/or company policy during which a timeshare buyer has the right to cancel a purchase agreement without penalties.

 

Right to use (RTU)

Right to Use  Timeshare refers to a lease agreement granting use of a timeshare property for a specific period of time.

 

SFX Exchange

San Francisco Exchange Company is a premier exchange company that only accepts five star or gold crown properties in their exchange pool. 

 

Special Assessment

Timeshare Special Assessments are an additional fee billed to timeshare owners from a management company.  Timeshare assessments are levied to timeshare owners to cover expenses related to major repairs and refurbishment and most recently to cover shortages for non paying timeshare owners.