Timeshare is a type of shared ownership popular for recreational properties and resorts. Timeshare software streamlines the management of different ownership concepts and is broken down into modules for marketing, sales, management and finance. Integration between modules and external integration are essential. Some software contains an accounting package.
Timeshare refers to a type of shared ownership. In a timeshare, there are several owners, each of whom has rights to a property, which can be configured in a large number of ways. Timeshare ownership is popular for recreational properties, resorts and vacation clubs. Timeshare software is software specifically designed to assist and streamline the entire group of businesses involved in timeshare ownership.
Timeshare software has some unique facets. Unlike whole owner management, timeshare software must account for change of residence, such as a hotel, with check-ins and check-outs, and interim cleaning. Also, because timeshares are built on different models, timeshare software is typically built to handle a variety of different ownership concepts, including contract, eight-share, fixed week, rolling week, points-based, and quarterly, as well as annual or two-yearly and weekly right to use or fractional use. Some timeshare software may combine multiple types of timeshares with entire ownership and/or hotel room rentals.
Timeshare software is sometimes broken down into modules by the departments that may be involved in a timeshare business. In this case, you can find separate timeshare software modules for marketing, sales, management and finance. The marketing module might contain subcategories such as lead management and order fulfillment, tours, and inventory. In the sales module, you can find tracking capabilities, document templates for contracts, loan notes, bank statements and emails, as well as archiving capabilities for documents. Sales campaigns and ongoing contact with newsletters can also be part of the package.
The management segment is likely to have a reservation system and history. Also important is a property management section to keep track of check-ins and check-outs, maintenance and cleaning, as well as lease agreements. In the financial module you can find the details of the mortgages, maintenance costs and receipts.
Integration between different modules within the timeshare group is essential, but some software also provides external integration. For timeshares integrated with tours, timeshare software packages may offer integration with the tour provider to make booking easier. Contracts and commissions can be generated automatically.
Some timeshare software contains an accounting package. This allows for full integration of timeshare operations with credits, billing and management fee collection, sales, maintenance costs, etc. Alternatively, the timeshare software package may have a means of exporting the data to a standalone accounting software application.
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