Optimizing the Use of a Timeshare Property

The timeshare concept gathered interest over time prompted by a market who likes to have a guaranteed destination for their leisure trips. As the word itself describes it, a timeshare allows individuals to own the rights to a certain property together with others. Property usage and frequency depend on the agreement signed, and in some cases, the developer still retains ownership. 

Typical Timeshare Arrangements

In some timeshare arrangements, the individual owns the right to use an apartment during a certain week/s each year. In other cases, the owner reserves a certain period within the year for the use of the property. Another type of timeshare allows a buyer to stay in different property locations based on the number of shares purchased. 

Some people see the merit of investing in a timeshare. Staying in a timeshare cuts out some unnecessary vacation expenses such as lodging, laundry services, and even food. Depending on the investment, the property could be rented out when not in use. During peak season, the time sharer has a place to stay. On the other hand, some properties also require maintenance and other fees on a regular basis. Also, planning one’s vacations revolve around the timeshare schedule. 

Another Option 

Some timeshare owners reach a point when they get tired of their property and would like to explore other locations. Every year, they see the same destination, stay in the same place, and experience the same activities. For some individuals who like a change of scenery, exchanging their timeshare property for another one may be a viable option. 

A timeshare exchange allows the property owner to swap the use of their timeshare condominium, apartment, or any unit, with another property. The exchange may be temporary or permanent. In temporary exchanges, they can swap the use of their property with another for a few days or for a week. Depending on the agreement, the agreed period of time could potentially extend to several cycles. Meanwhile, a permanent exchange allows timeshare owners to trade ownership of their property. 

Timeshare Industry Trends

Just like in the previous reporting periods, the timeshare market is expected to grow in the future. Industry experts forecast a significant annual growth rate during a five-year period, from 2017 to 2021. Several factors could push this positive development in the timeshare market. These factors include the growth in property sales, changing buying preferences, and increasing interest in vacation properties. Challenges that could impact the timeshare market include the changing market perceptions, seasonality of the tourism industry, and even availability of timeshare properties among others.

For some, investing in a timeshare is a viable option. With this type of arrangement, they will be able to enjoy a favorite destination in the comfort of their own space, without the hassle of booking a hotel. Some also look at it as a practical but temporary leisure investment since it allows them to have certain usage rights which they can exchange once the market is right.