A timeshare vacation is leisure time spent away from work and in a piece of property that multiple people own or have the right to use. Most timeshare vacations are spent in condominium buildings, where a unit is allocated to each timeshare owner for a certain period of time every year. The right to use the unit usually lasts for a week or two, and the unit is generally available to each owner during pre-determined dates. Timeshare owners ordinarily have the right to use, rent, or sell their shares in the unit. They are also often permitted to let other people, such as friends or relatives, stay in the unit during their allocated time period.
The concept of a timeshare vacation first developed during the 1960s. During that period of time, a European ski resort developer advertised the ability to buy into a resort, rather than merely renting a room. This idea caught on, and other developers quickly marketed similar schemes.
Many timeshare vacations are dedicated to resting or relaxing while on holiday. Timeshare resorts tend to be located in exotic or pleasant climates. They are often situated near oceans, beaches, or mountains. Some timeshares, however, are offered for different kinds of vacations, such as taking a cruise or camping. Timeshares for recreational vehicles are also available.
When buying a timeshare, a person can choose between a number of different vacation options. A deeded timeshare vacation is typically entered into for a particular unit during a pre-set period of time each year. Individuals who want to have more options when choosing their vacation dates can look for a timeshare agreement that allows for flexible dates. With this arrangement, share owners usually have to make reservations in order to secure the unit for their requested dates. Reservations commonly work on a first come, first serve basis.
Timeshare rental vacations work much like renting a hotel for a vacation. Under this set-up, individuals simply lease the property. When the vacation ends, they no longer have any rights to the property.
Some timeshare vacation options allow individuals to choose between a number of different vacation spots. These plans typically work by allocating a certain number of points to a timeshare owner each year. The timeshare owner can then apply these points towards a timeshare vacation unit in his or her desired destination. The number of points used for a timeshare vacation can vary, depending upon the unit’s location and the time of year.