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About
Timesharing
Today’s
timeshare vacations provide choice, flexibility and offer a vacation
lifestyle experience year after year at a reduced cost. Think of it as a
shared vacation home in a resort setting. You can return each year or
visit new worlds – it is up to you.
How
- Timesharing began in the sixties with European families sharing
vacation homes and spread to North America in the seventies in the form
of 7 day stays at resorts or condominium properties.
Now
- Nearly five million families own timeshares worldwide and growth is
expected to continue. Many Fortune 500 companies, such as Disney, Four
Seasons, Marriott and Hilton have been selling timeshares for years thus
providing consumer confidence and an improved product.
Own
- Timeshares are an investment into your vacations and your health. You
deserve to enjoy yourself and see the world. Whatever your timeshare
vacation needs are we can help you today.
Enjoy
- Once you’re an owner, you’ll look forward to your yearly vacation
lifestyle experience. Meet new faces and go new places! Do it for you
today!
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Exchange
FAQ
Who is
RCI?
Resort
Condominiums International, or RCI, is the oldest and largest exchange
company in the world. RCI allows timeshare owners to trade their
timeshare weeks with other timeshare owners around the world. RCI
Timeshare has been in business for almost 30 years and currently work
with over 3000 resorts in 85 countries. RCI can be reached at
1-800-338-7777.
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Who is
II?
Interval
International, or II, is the second largest and second oldest exchange
company behind RCI. With over 1700 resorts in 35 countries around the
world, II operates much like RCI, offering quality exchange services for
its clients worldwide. II can be reached at 1-800-843-8843.
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What
are the benefits of each company?
The
benefits of RCI and II are essentially the same. They both give you an
annual listing of all resorts. They both have a quarterly or bimonthly
update magazine. They both offer a "members only" travel
agency (remember airfares aren’t included with your timeshare costs).
Both offer last minute getaways at a very reasonable price without
having to give up your deposited week and both offer excellent customer
service through their toll-free numbers.
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Is
there any difference between RCI and II?
There are
a great deal of similarities between the two companies. Both companies
are excellent.
Do RCI
and II own the resorts?
No.
neither do. As they state in RCI’s resort directory, "(We) offer
(our) services to owners at resorts with which we have an affiliation
agreement."
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Is
there a membership fee for RCI and II?
Yes. The
annual fee for Interval International is $79.00 and RCI's is $84.00.
They also offer three and five year subscriptions which may be purchased
at a discount to the annual rate.
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How do
I make an exchange?
Making an
exchange is as easy as picking up your phone, calling RCI or II, and
asking one of their vacation consultants to walk you through the
exchange process. But, think of it like you think of going to the bank.
The two companies vary, but the process with each is very user-friendly,
and you are helped through the request and exchange process.
The
concept of timeshare exchange is easily summed up as "like for
like." As you make your exchange request, keep in mind that what
you own. You are likely to get the same number of bedrooms, same season,
and similar amenities as what your home resort offers.
Your
deposited timeshare week does not have to be taken before you are
confirmed to go elsewhere. You also don’t have to travel the same
fixed week that you have deposited.
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When I
make an exchange, does someone else have to use my time?
No. All
weeks are deposited into the space bank and requests are made against
these weeks. Exchanges are fulfilled based on availability.
May I
rent my week out?
Once you
become the legal owner of a timeshare, you may rent it out if you wish.
The Holiday Group, RCI, and II, however, don’t assist in rentals.
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May I
rent a week I have received in exchange?
No! This
is expressly forbidden. If you do this and the exchange company finds
out you will be banned from future exchanges for life.
May I
make an exchange and let someone else use it?
Yes, but
you will need to give the exchange company the name of the people who
will be using the resort so they can make a guest certificate for them.
The costs for a guest certificate are: RCI $40.00, and Interval
International $29.00.
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When
should I deposit my week?
You are
always advised to deposit your week as early as possible. You may
deposit as early as one to two years or as late as fourteen days prior
to the reservation date.
Do I
have to make a request at the same time I make a deposit?
No. In
both of the major exchange companies you have two years after you
deposit your time to request an exchange. But if you wish to, you may
make a request when you make your deposit.
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When
should I request my exchange?
RCI
allows you to request your exchange 2 days to two years before you want
to travel as long as you have a week on deposit with the exchange
company.
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What
is the difference between the exchange seasons?
In
timeshare, the difference in season indicates the popularity of any
particular resort at that time. The most sought-after weeks (e.g.
February week in Vail) are rated as high season and the less popular
weeks (e.g. Winter on Long Island) are rated as low season weeks. High
demand weeks are known as high season or red time, moderate demand weeks
are known as mid season or white time, and low demand weeks are known as
low season or blue time.
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Is it
possible to trade one high season week for 2 low season weeks?
No. There
may be certain exceptions to this, but do not purchase a timeshare based
upon this. One week will always exchange for one other week.
How
many resort locations can I request?
You are
allowed to request up to four resorts in one area or several areas which
you're interested in. Being flexible in destination selection will
improve your chances of making a successful exchange.
When
do I pay the exchange fee?
All fees
are payable when you make your request. If you are requesting a guest
certificate or adding other options they are due at this time.
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How
long will it take to confirm my exchange?
Most
exchanges are confirmed within twenty-four hours. If your desired
destination is not immediately available, a computerized search will
continue to look for exchanges. All incoming deposits will be checked up
to fourteen days before your planned departure date or until confirmed.
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Do I
pay my maintenance fee to the resort I'm exchanging to?
No. All
maintenance fees are paid directly to the resort you own and not to the
resort you are trading to.
What
is an internal exchange at the home resort?
An
internal exchange allows you to exchange the week you own for a
different week at the resort. If you have a summer week and wish to go
at another time of the year the resort may do this for you based upon
availability of inventory. The resort may or may not charge a fee for
this service.
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What
is an internal exchange from RCI?
Instead
of using your home resort to exchange at the same resort you use RCI to
facilitate this transaction. There is a fee for this service just like
any other exchange. Remember, priority will be given to any owner
wishing to exchange back at their home resort.
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How
many people can I take with me?
You can
take as many as the maximum number your unit sleeps. Resorts typically
will not accept more than a unit’s capacity to stay in one unit.
Will
the resort provide daily maid service?
Some
resorts will have daily service, some bi-weekly, and some not at all
during your stay. If this is of major concern to you, you should contact
the resort you wish to visit to find out exactly what their policies
are.
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How
to Buy FAQ
What
locations does Holiday have for sale?
We have a
large inventory of properties in locations worldwide. When they arrive,
they are liquidated very quickly. We have found that most people are
interested in:
- A
resort that they can trade for other locations.
- A
resort in their local area they can drive to.
- A
resort in a specific location that they would enjoy vacationing at
several times.
In
addition to our inventory, we have access, via a national database
system, to companies that sell timeshares on the secondary market. This
allows us to expand our inventory to include many additional resorts.
But as these are secondary market offerings, the price range is usually
significantly higher than our own inventory.
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Are
these resorts in financial trouble?
No. We
deal with individual memberships or deeds which are foreclosed or
repossessed. We don't take inventory in financially unstable resorts.
How
does Holiday get these properties at such low prices?
We work
through a number of attorneys, developers, and financial institutions to
purchase inventory around the world.
I
don't normally have access to the Internet, so how else can I view your
inventory?
There are
two ways that we may help you if you don’t have Internet access. We
offer informational sheets on each item in inventory that we can fax or
mail you. These fact sheets will give you all of the pertinent
information on a specific membership within the resorts. Second, we have
a catalog which contains the current inventory. This catalog provides a
brief over-view of each property in our inventory along with the unit
size, membership season, maintenance fees, and asking price.
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After
seeing your listings, there are a number of resorts we have an interest
in. How do we proceed with the purchase of one or more of these resorts?
Because
most people we deal with do not have the luxury of visiting the resort
before they purchase, we provide you with the following: the contact at
the resort or management company, the contract number of previous owner,
and any other information necessary for you to do the amount of due
diligence you feel comfortable with to make an informed purchase. You
may then contact us at 1-800-704-0307 to begin the process of purchasing
your property.
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What
if I want to see the resort before I purchase?
Great! We
encourage our customers to be as familiar with the programs they are
purchasing as possible. However, our inventory is liquidated on a daily
basis and we can not guarantee the membership will still be available
unless you make arrangements with us to hold the property for you.
What
is a maintenance fee?
The
maintenance fee is an annual charge, on top of your initial purchase
cost, that goes toward the upkeep of your timeshare. Your maintenance
fee usually covers property taxes, insurance, utilities, cable,
telephone, and all property up keep such as furniture, carpet, and the
common facilities of the resort. Usually, the resort’s Homeowners
Association decides this fee. Back
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What
is a transfer fee?
A
transfer fee is a cost that resorts charge to transfer ownership from
one party to another. This fee applies directly to resale timeshares.
Transfer fees are determined by the resort and will vary depending on
what resort you are buying.
What
sizes of accommodations are available?
Sizes of
units vary from resort to resort, but as a rough guideline are broken
down by bedroom number and how many adults they sleep. Here is the
breakdown:
Hotel
Unit
Studio Unit
One Bedroom Unit
Two Bedroom Unit
Three Bedroom Unit |
Sleeps
2
Sleeps 2 to 4
Sleeps 4 to 6
Sleeps 6 to 8
Sleeps 8+ |
What
is a fixed week?
A fixed
week is ownership of a specific week of usage each year. The first week
of the year will be designated as week #1, and the last week of the year
will be week #52. Usually, fixed weeks are assigned to a fixed
condominium unit as well.
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What
is a floating week?
A
floating week means that the week you own is not a pre-determined week.
A floating week guarantees you one week within a certain time period
based on what season rating your membership is. Each year, you contact
the resort and reserve the week during your season that you would like
to use. If you plan on exchanging your floating week, you will need to
make a reservation before you deposit your week with the exchange
company.
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What
is a point system?
A point
system is a vacation ownership in which you own points that represent
the quality of the unit you will have. More points translate into higher
season ratings, larger accommodations, and better trading power. For
example, a low season studio unit may take 100 points to reserve the
time, but a high season two bedroom unit may require 300 points. Most
systems will allow you to borrow from future years or to carry over
unused points to the next year.
What
is a lock-off unit?
Lock-off
units may be divided into two or more smaller units for exchange or
usage purposes. For example, a two bedroom lock-off may be divided into
a one bedroom and a studio, or some other configuration which the
particular resort will provide. Usually one of the units is used for
exchange purposes giving the owner the ability to vacation an additional
week each year. Remember that you will no longer have the use of your
large unit, but it will be in two or more smaller units.
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What
is a deeded property?
A deeded
property is one in which the property title does not expire. Once you
own it, it's yours until you decide to sell it, much like home
ownership. Deeded properties may also be passed to your heirs.
What
is leased or certificate property?
A right
to use your timeshare for a specified number of years. At the end of
this period the property reverts back to the developer. Some resorts
allow accelerated usage which means that you may borrow usage from
future years. to do so you will normally pay the maintenance fees for
the accelerated usage.
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What
is life property?
A
membership which allows usage each year for the owner's lifetime.
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What
is a stock company?
Resorts
issue shares of ownership in the property or properties which they are
selling. Rather than owning a deed to a property, you own shares in the
company which entitles you to vacation time each year.
Are
there additional fees involved in the purchase of a timeshare?
Yes. As
in many property transfers there are fees involved. You should expect to
pay for preparation of the transfer documents, a maintenance fee and the
recording and transfer fees which are determined by the county and
resort. These may total a couple to several hundreds of dollars. Of
coarse, all costs will be disclosed and accounted for before you
purchase.
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Does
this include title insurance?
No. That
is an outside fee charged by a title insurance company for their
services. Title insurance is only applicable to properties located in
the United States. If you have questions regarding title, please do not
hesitate to ask about availability.
How
soon after purchase will I get my deed/certificate to the property?
The usual
time frame is ninety to one hundred and twenty days. There are
exceptions to this, as some counties take longer to process transfers.
We do keep you informed about the circumstances and any situation which
may cause a delay in transfer.
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How do
I make sure I have a clear title to the property?
Upon your
request, you can order Title Policy insuring clear title. At Holiday, we
stand behind our inventory 100%.
If on any
purchase, for any reason, we are unable to deliver a free and clear
title, we will refund all of the money you have placed toward the
purchase of your timeshare property.
Can I
ever sell my timeshare?
Yes. Once
you are the legal owner of a timeshare week, you may sell it at any
given time. The Holiday Group, RCI, and II do not assist in this
process, but Holiday will recommend a reputable source to assist you in
selling your property.
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How
soon may I use it after purchasing?
As soon
as the ownership has been transferred into your name, you may contact
the resort and exchange company to start active participation.
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