Timeshare Council

Fixed Week or Floating Week?

Time Share Advisor — Sat, 24 Sep 2011 14:22:42 +0000

Purchasing a timeshare for the first time can be very confusing. The timeshare industry seems to have a language of its own, and many people tend to feel a bit overwhelmed when it comes down to deciding whether to get a fixed week or a floating week. There are several factors to consider when deciding to go with a fixed or floating week, for they both have their advantages and disadvantages.

With a fixed week, you must plan on vacationing at the same time each year. The weeks you buy, coincide with the calendar year. Therefore week 6 would be in February and week 51 in December. Of course the dates would slightly vary each year, (by a few days) but your fixed week would fall around the same time each year. If you and your family like to travel to Mexico every Thanksgiving to get a break from the bitter cold winter and take advantage of the warm sun and sandy beaches, then buying a fixed week timeshare in Playa Del Carmen would be a great idea. The best fixed weeks to own are holiday weeks such as Christmas, Easter, New Years or in March during popular Spring Break times. High season weeks are very desirable therefore their exchange value will be high. Fixed weeks are great for families who like to plan their vacations around their children school breaks, a skier who likes to take advantage of the fresh powder every January in Aspen or a couple who enjoys spending their anniversary in Hawaii.

A floating week does exactly that, it floats. The biggest benefit in owning a floating week is that there is more flexibility in the dates that you want to go. Although at first it seems like the best deal, often times there is little to no availability during the high season weeks because they have been taken up either by the early bookers or the fixed week owners. To guarantee availability for your floating week you must book your vacation fairly far in advance. Floating week owners at some resorts are able to pick any week out of the year, though at others you have to choose from a group of weeks during a particular season. Floating weeks work best for people who have a great deal of flexibility in their schedules and those who do not like to plan their vacations a year in advance.

Whether you choose to go with the fixed or floating timeshare week, depends greatly on your lifestyle and career. If you have children and like to plan your vacation during their Christmas break every year, then a fixed week may work better for you. However if you have a hectic career, where you can not get the same time off from year to year, then a floating week would much better suit you. So before you go ahead and pick the fixed or floating week, make sure that it will indeed fit your lifestyle.

10 Things You Should Know About Timeshares

Time Share Advisor — Thu, 22 Sep 2011 03:28:34 +0000

Understand the contract.
It is easy to sign a timeshare contract, but it may be hard to get out of one. Make sure you understand all of the terms. When do you get to use the property? Do you get the same property every time? What is your yearly total cost of ownership? Are there set dues and fees? How much can the dues and/or fees increase each year? Who manages the property? Who do you contact with contract questions?
Walk away from high pressure sales.
There are good timeshare deals, and there are timeshares deals that require high pressure sales. Walk away from a sales pitch if you feel pressured to make a decision on the spot. The last thing you want is buyer’s remorse after signing a binding contract. You should also research the company you are doing business with, or at the very least check their rating on the Better Business Bureau. Walk out the door if the word free comes out of a sales persons mouth.
Location, location, location
If you want to trade, you need a desirable location. You will probably not get the best trades with Vegas or Aspen in the summer.
Timeshares are not investments
The stock market is for investments, timeshares are for vacations. The value in a timeshare is the quality of your vacation. You should feel good about breaking even, should you decide to sell your timeshare. You can rent some timeshares, but again, feel lucky if you break even.
Maintenance fees
All timeshares have maintenance fees. You will pay an annual fee, even if you do not use the timeshare. Read the contract, and make sure you understand the terms of the maintenance fees.
Exchanges
You may never tire of your timeshare if it is in a desirable location and time of year. You may have the option of exchanging your timeshare through a timeshare exchange broker should you want to explore other locations.
New or resale
You can save a considerable amount of money by purchasing a timeshare from a previous owner, maybe even 50% or more.
Fixed week vs. floating week
Fixed week means that you get the same week every year (IE: 4^th of July). Flex week means that you can claim a week within a range of weeks.
Taxes
Any profit from the sale of your timeshare is taxable. Selling at a loss is typically not deductible.
Donating a timeshare
You can donate your timeshare to a charity

Caveat Venditor

Time Share Advisor — Tue, 20 Sep 2011 23:54:41 +0000

In the timeshare industry there has always been shady characters. The timeshare industry has definitely grown a reputation for luring and trapping consumers into a situation that they cannot afford and have a very hard time getting out of. This is not a news flash by any means. There is now another layer of scam artists in the industry.

With the downturn in the economy in recent years, many timeshare owners have become desperate to rid themselves of costly timeshares. These consumers can become desperate and become easy prey to dishonest people looking to make a quick buck. There is a new epidemic of “companies” claiming to help people get out of their timeshares. They charge fees and many times the customer sees no results from these broker arrangements.

Too make things worse some of these companies rip people off for as long as they can until caught. They then turn around and start under a different name with the same scam. There are regulators trying to bring these criminals to justice but it is not easy.

It is imperative that the consumers do a thorough check of any broker they are looking to hire for their timeshare. Absolutely do your homework, get recommendations call the Better Business Bureau and NEVER pay for anything upfront! Do whatever you can to be sure you are not victimized twice!

Timeshare Inheritance

Time Share Advisor — Thu, 08 Sep 2011 02:17:48 +0000

Many people would like to be able to keep their timeshare in the family. There different options for dealing with the title of a timeshare that you may want to pass to your beneficiaries. Some may think that a simply willing a timeshare would be enough, but it is more complicated than this. When a property interest is willed it must go through probate court before the beneficiaries can use it. This can take at least a year and in that time the family cannot use the property. Even worse they still have to pay maintenance fees while it is tied up in court. It is doubtful that this is your wishes, but it is reality.

One option to avoid this is to add the beneficiaries on the title before death occurs. This solution is almost too simple and of course doesn’t come without problems. When this option is used any time a contract of any kind having to do with the property comes up, all the titled owners must sign off on it. This will lead to hassles of all sorts. Let’s face it simple family feuds can make this a nightmare waiting to happen!

The best option is to have a revocable living trust. This option leaves you in control until the death when the trustees take over. This option avoids the cost and hassle of probate court. A living revocable trust can be complicated though and it is best to consult with your accountant and lawyer regarding the best way to set it up for yourself and trustees financially.

One piece to think about it, talk to your family members and be sure they have a vested interest in the property. You may be leaving them with more responsibility then they can handle. Some families may not have the time or money to spend on a timeshare and it can really cause problems trying to keep up with it in this case. This topic is obviously not as simple as it may seem at first so do your homework. Look into the best options for you and your beneficiaries.

Working With A Title Company For Your Timeshare

Time Share Advisor — Thu, 01 Sep 2011 14:27:20 +0000

Can a title company help with buying and selling a timeshare? The answer is yes. Many people wonder
why they need a title company to close on a property deal. They only see the obvious things they assist
with, like telling you where to sign. The fact is these companies do a lot more than that. Title companies
provide title insurance, research titles, prepare documents, establish and maintain escrow accounts,
work with law firms representing buyers and sellers (or the probate officers handling a seller’s estate),
and ensuring the proper recording and distribution of all documents related to a sale. These ear every
important things to have taken care of when you are buying a property and can be even more beneficial
for a timeshare.

Title companies will research whether a deed has any liens on it from previous owners. This is a very
good idea especially of you are buying a resale timeshare. This is also where title insurance comes in
handy. Title insurance will protect the new buyer of a property from any judgments against a property
from affecting them. These are major considerations when you are spending a large amount of money
on any kind of property.

Although not all title companies handle timeshare transactions, there are firms that specialize in them. If
you are in the market for one, find one of these. Hiring a title company lead you through your purchase
is one idea that will help to make your timeshare purchasing as well thought out as it should be.

Home Exchanging

Time Share Advisor — Fri, 19 Aug 2011 04:51:05 +0000

The timeshare industry has been suffering in the poor economy as much as anything else. When it comes to timeshare resale’s it is definitely floundering. There is also some competition coming from the growing popularity of home exchange. Home exchange is simply trading homes with someone in exchange for yours at the same time. You hook up with someone who wants to visit where you live and vice versa. People can avoid the extra expense of a hotel and even sometimes a vehicle rental if that is also agreed upon. There are various websites that people can join to find properties they are interested in. Home exchange offers a lot of perks. Having a full kitchen, laundry etc. can make a vacation all the more relaxing. The idea is to be at home while you’re away. It can seem intimidating to let a stranger stay in your home, but you are also staying in their home at the same time. The websites that help broker these exchanges report that they have had no reports of theft using this arrangement. Of course if you live in a town or area that is a major tourist destination you will probably have little to no problem finding people who want to exchange with you. On the other side of the coin, if you live in the middle of nowhere you will probably have a harder time finding takers. Nevertheless it doesn’t hurt to try! You never know if someone in Hawaii wants to visit their family in Kansas. You can find more information on home exchange at some of the various sites on the web. Happy vacationing!

Timeshare Rentals: Good or Bad thing?

Time Share Advisor — Tue, 16 Aug 2011 04:50:51 +0000

In the timeshare industry it is common for timeshares to be used as rental units by management companies. They are rented out during unused or non-purchased weeks. They also use these rentals to attempt to draw more buyers, allowing for new prospective clients to sample what the property and resort have to offer before purchase. It is also a good way for the costs of the property to be offset, ensuring as high vacancy rate whenever possible. A full resort is a profitable resort. It can also be beneficial for owns who may want to bring guests to their timeshare resort but do not have enough room in their unit. Being able to rent at the resort provides accommodations for their guests as well. Nowadays, with many people trying to sell their timeshares in a poor market, it can help to keep the units full.

There are some people who believe that management companies are prioritizing the rental market over the exchange of owners. This hasn’t been proven true, but many feel they are having an increasingly hard time finding desirable exchanges. Many owners do not want exchange weeks to be available for rental at all, unless the weeks go unclaimed as exchanges. When you are in the market for a timeshare think about how you feel about timeshare rental and how it is handled with certain properties. This is another way to insure that you are getting what you are paying for.

Joining a Timeshare group

Time Share Advisor — Mon, 08 Aug 2011 02:16:37 +0000

If you are a timeshare owner or are considering buying one you could benefit from a timeshare group.
These groups consist of other timeshare owners and are set up to learn more about timesharing, travel
costs and options, dealing with resort companies and working within the industry. You can also find a
group of people who have a shared interest and can give you a heads up on things and resorts to avoid
in the industry. These groups can be a valuable resource for owners. Some of them have guest speakers
and newsletters. One really great benefit is the ability to exchange your timeshare with other members
of the group. Groups keep an inventory of who owns what, so that inner group exchange can be utilized.
This is a wonderful way to avoid the middle man fees that exchange companies charge. Groups can also
network with other timeshare groups allowing for an even larger base of properties to choose from.
There are numerous benefits to joining a timeshare group. A simple internet search could help lead you
to a timeshare group that fits your needs.

Should deposited weeks be available for rentals?

Time Share Advisor — Mon, 18 Jul 2011 02:15:49 +0000

There has been some debate about whether or not a resort should be allowed to rent out deposited
timeshare weeks to non-timeshare owners. Some timeshare owners have complained that they have
had an increasingly hard time finding the exchanges they would like. They partly blame this on the
resorts who do in fact rent, open weeks to non-owners. Some have even suspected that the non-owners
are getting priority choice of properties, and thus making for slim pickings for timeshare owners.

Some resort companies are partnering with other companies and vacation clubs to offer their members
and owners more choices. There are also some resort companies that offer special clubs for military
customers. Some timeshare owners feel cheated out of the options that were promised to them. There
are owners who report not being able to exchange at resorts that they had no problems with in the past.

These days this seems like it could be a frivolous complaint. There are so many timeshares that are
going unused that there is bound to be many open units in many different areas. If you are experiencing
problems with exchanging your timeshare for ones you would like, try an alternative avenue. If the
exchange companies are uncooperative, look into private exchange with other owners. There are many
websites where timeshare owners gather for information, trading, buying, selling etc. Find one and you
are bound to find another owner who is very willing to exchange with you. Even better, you can avoid
the middle man fees exchange companies charge!

Floating or Fixed Week?

Time Share Advisor — Sat, 16 Jul 2011 15:37:27 +0000