Timeshare companies sell shared ownership of vacation properties, including RVs, campgrounds, and cruises. Owners have access to specific units for a set period each year and may have access to common areas. Some companies offer flexible dates, while others offer vacation programs for multiple resorts. Timeshares began in the 1960s to make vacation properties affordable for Europeans.
Timeshare companies sell shared ownership in vacation properties to consumers. Consumers who purchase these offers earn the right to use their share of a property at a specific time. For example, a timeshare company might sell a share to the consumer at a popular island resort. That customer can then visit the resort and stay in a specific unit for a specific week each year. If he wanted to stay at the same resort at a different time, he would likely have to ask another timeshare owner to either trade weeks with him or sell him an alternate week.
When many people think of timeshare companies, they think of shares in resorts or vacation condo properties. However, timeshare companies also offer interest in other types of ownership. For example, some timeshare companies sell recreational vehicle and campground timeshares. Some sell them to cruises as well. In addition, other companies offer options that allow consumers to travel to a vacation spot at various times of the year.
Timeshare companies often pay each owner for their unit. Landlords are usually responsible for a portion of property maintenance and management fees. In addition to allowing the use of a specific unit, timeshare fees often include access to common areas such as swimming pools, hot tubs, basketball and tennis courts, and recreation rooms. Each timeshare property may have different amenities.
Some timeshare companies only offer fixed timeshares. This means that the buyer would own an interest in a specific property or unit, with rights to remain in the unit for a specific period each year. Other companies offer homeowners floating-time contracts, providing flexible dates for homeowners to stay in their units. Typically, however, units are available on a first-come, first-served basis.
There are some companies that operate similarly to timeshare companies but allow consumers to purchase vacation programs and receive a certain amount of vacation weeks each year. These weeks can be used to travel to many different resorts that are part of the vacation program. Travel options often span an entire country and some offer international accommodations.
Timeshare companies may have started in the 1960s. At this time, many Europeans wanted vacation properties but could not afford the cost of a complete vacation home. Eventually, companies came up with the idea of shared ownership, allowing many different people to buy shares in a property and keeping costs low for each buyer.
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