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Timeshare Glossary Explains Simply Timeshare, Holiday Points and Vacation Club Terms and Phrases used in the Resales Market.

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Timeshare glossary explains simply many of the timeshare, holiday points and vacation club terms and phrases used in the resales market.

Accrued Weeks: Timeshare Weeks that have not been used in the previous year which you can use in the present year.

Affiliated Resort: A timeshare resort, affiliated with other resorts to allow Owners to use their weeks at the affiliated resorts.
This is most typical with holiday clubs and means Owners are not restricted to one Location for their Vacations.

Bank: An Owner can choose not use their designated timeshare week in the current year.
The Owner can choose to bank their weeks with an exchange company to use at a later date.
Generally an Owner has two years to use the weeks once the weeks have been banked.

Biennial: Timeshare Weeks sold on an every other year scheme.

Bonus Weeks: An Owner receives Bonus Weeks at their resort, as well as their usual weeks.
Bonus Weeks are issued if there is accommodation available.

Camping Membership Resales: Club Membership to Campers offering Vacations nationally with campsites nationwide and worldwide.

Cancellation period: This is the time in which an individual has the right to cancel the purchase of the Timeshare with no penalties or costs.
If a deposit has been paid the individual is entitled to a refund of any monies paid.
The length of this period varies from country to country.

Check-In Date: The allocated date and day of a week the vacation begins; usually Friday, Saturday, or Sunday.
The check-in day starts the seven-day week.
For example, if the timeshare week starts on Saturday, the week ends on the following Saturday.
The owner of the week need not check in on the allocated day but if they check in late eg on Monday they will still have to leave on the following Saturday.

Check-In Time: The allocated time a timeshare week starts; usually 15:00 hrs, 4:00 hrs.
The Owner need not arrive and check in at the exact time.
Check-out time is normally 10:00 hrs or 11:00 hrs one week, 7 days after check in.
Example: check-in on Saturday at 3:00 PM and check-out on the following Saturday at 11:00 hrs.

Close Escrow: The period when your Timeshare Purchase is complete.
This means that all monies have been paid and distributed, the Title Deed has been transferred and you are now the Owner.

Closing Costs: Expenditures associated with the closing process; usually including title deed transfer, escrow costs, and admin charges.

Club Membership: Year-round use of resort amenities if accommodation is available.

Cooling Off Period: This is the time in which an individual has the right to cancel the purchase of the Timeshare with no penalties or costs.
If a deposit has been paid the individual is entitled to a refund of any monies paid.
The length of this period varies from country to country.

Deed: Title Deed stating Ownership.

Deeded Property: Title Deed showing Owner with the deed legally recorded in the county where the timeshare is located.
This type of timeshare asset has the same rights of possession accorded to it as other deeded property.
The owner may sell, rent, bequeath, or giveaway the owned timeshare weeks.

Developer: A company that owns, manages and builds the Timeshare resort is known as the developer.

Developer's Price: Developers price.
Full retail price.

Escrow: A special properly secured account used to hold monies and funds from the purchaser and the vendor when purchasing or selling your Timeshare.

Exchange: The process of exchanging a timeshare week at one resort, usually your designated resort, for a week at another resort in a different location.
It can also be to exchange your allocated week for a different week at your own designated resort.
The exchange system allows Owners to visit different locations worldwide by exchanging their week with other owners throughout the world.

Exchange Company: A company, such as Interval International or RCI that allows timeshare weeks to be exchanged and banked.
This allows an Exchange companys members to exchange their week for different resorts, varied locations and also allows the actual date of the week to be exchanged.
When a member stores their own week with an exchange company, the company assesses the value of that week and provides a suitable match based on accessibility and value.
Elements determining the exchange value are the resorts star rating, high season or low season, number of bedrooms etc;
Arranging an exchange is a very simple process; you get in touch with your exchange company and tell them what you require.
You can exchange for a different week to the one that you own.
You do not have to wait for someone to take your week, the exchange company will bank it and your exchange is booked.

Exchange fee: The administrative service fee that is charged during the exchange process when exchanging and banking your allocated weeks.

Facilities / Amenities: Extra facilities at a Timeshare Resort which add to the Resort experience, for example, golf courses, swimming pools, gymnasium, tennis courts, onsite laundry, self catering kitchen, Jacuzzi.
The more services a resort offers the more popular the resort.

Fee Simple: The most preferential ownership.
This type of Timeshare Ownership is the opposite of Right-to-Use or leasehold and ownership is permanent.
The owner owns a title deed in their name and the ownership can be bequeathed to heirs.

Fixed Unit: The Number of Weeks in a Year, weeks 1-52.
The date can be set by number of week eg Week 1 or by date eg January 5th until January 12th.
If you own by Week number then your exact calendar date may alter slightly every year.
A fixed unit means that the Owner will always stay in their fixed room at a fixed date at a fixed resort.
The Owner is guaranteed that they will always vacation in their fixed accommodation at the fixed resort they purchased.
This is especially important, for example, if you have bought a Golf Course Unit and wish to play Golf each year, rather than being a drive away from a Golf Course.

Fixed Week: A fixed week refers to the set week of 52 weeks in a year.
An owner buying a fixed week is guaranteed that they will always take their vacation in that set week, eg week 35.
An owner buying a Floating Week may vacation during another week of the year, however, they may be extra fees if the week is selected during High Season.

Floating: Purchasing a Floating Week ensures that the actual date is not fixed to one specific date.
Usually you are purchasing a week within a Season.
The majority of resorts have High Season, Medium Season and Low Season.
Owners do not own a specific unit at the resort, they may ask for a specific unit and if vacant, they will be allocated their preferred unit.

Floating Week: The Owner of a Floating Week days has the versatility of organizing their vacation dates and varying the dates yearly using the resort's guidelines.
Once an owner has paid his annual maintenance fees a resort will arrange a request by an Owner for a specific week.
Ensuring your maintenance fees are paid as early as possible increases your chance of requesting a specific vacation date.

Fractional: Owning several weeks at one resort.
Usually owning two or more weeks per timeshare calendar year of 52 weeks.

Fractional Ownership: For example, an Owner owns 3 months in a unit.
4 Owners own 3 months each in the same unit and the three months are rotated annually.

Guest Certificate: These may be purcahsed from your exchange company and will allow someone else, such as family and friends to use your exchange week.

Holiday Clubs: An owner holds Vacation Club Membership.
Instead of owning a fixed week at one resort, a member can use any resort affiliated with the Holiday Club where they are a Member.
Usually Points are allocated according to your Membership Package.
An owner can use their Points at any of the locations within that Clubs Resorts and avoids paying extra fees.

Home Resort: The exact resort you own on.
This will be stated in your purchase contract and /or in the Title Deeds given to you by the Company from whom you bought your week.

Interval: A set week.
Based on the interval calendar where there are fifty-two weeks in the calendar year.
Week 1 is the first week and week 52 is the last week of the calendar year.
A week comprises 7 days within one of the 52 weeks.

Interval Calendar: A calendar scheduling 52 weeks of the timeshare year.
The weeks start on check in dates, usually Friday to Friday.

Interval International:Interval International known as I.I.
exchange timeshare weeks between owners in over 1700 resorts across 35 countries. Both RCI and II will provide their members with a yearly listing of resorts.
Both offer exchanges between members meaning you can trade your timeshare week with someone else's anywhere in the world.
RCI and II do not own the timeshare resorts they are exchanging; they are independent companies with an affiliation to the resorts.

Kitchen Types: Timeshare Accommodation offers various types of Kitchens.
Complete Kitchens feature the minimum of conventional oven, fridge and sink.
Small Kitchens feature basic requirements.
Part Kitchens feature less than basic appliances and requirements.

Lease: In some countries and some USA states timeshares are not allowed to be owned by Title Deed.
In such places, ownership is by leasehold.
Allowing an Owner to use the Timeshare for a defined number of years, normally a minimum of 20 years up to a maximum of 99 years.
The actual owner of the Physical Resort is usually the developer or management company.

Maintenance Fee: Maintenance Fees are paid by Owners of a Resort towards the upkeep of the resort, utility bills, insurance and facilities eg swimming pool.
The Maintenance Fees vary according to the size of unit owned and also the facilities offered.Maintenance fees are paid direct to the resort and generally pay for the upkeep of the unit, the utilities, the cleaning and repairs, resort property insurance, the upkeep and replacement of general use resort amenities.

Maximum Occupancy: Highest possible Occupancy.
The maximum number of persons the accommodation can sleep, normally between 2 to 10 guests.
The maximum occupancy is defined by the number of bedrooms and also by the number of people who can sleep in a unit, eg there may be a sofa bed.
This varies by resort.

Odd or Even Year Usage: A timeshare which is used alternate years.
This may be even numbered years eg 2014, 2016 or odd numbered years eg 2015, 2017.
These Timeshares are usually valued at half price as they are one half of the usual yearly usage.

OPC: Off Property Contact or Outside Personal Contact.
An OPC works outside the Resort and their job is to attract couples and families to tour the resort and attend a sales presentation.
An OPC usually offers a gift to encourage attendance.

Points: Points are a very flexible way of vacationing.
Owners can choose the date and location of their holiday and also the length of stay.
Points are used to represent your Holiday allowance.

Quartershare: Similar to Fractional Ownership, an Owner owns 3 months in a unit.
4 Owners own 3 months each in the same unit and the three months are rotated annually.

RCI: Resort Condominiums International, generally known as RCI are the largest timeshare exchange company.
RCI has been exchanging timeshare weeks between owners for 30 years.
RCI exchange timeshare weeks in over 3000 resorts in over 85 countries.
Both RCI and II will provide their members with a yearly listing of resorts.
Both offer exchanges between members meaning you can trade your timeshare week with someone else's anywhere in the world.
RCI and II do not own the timeshare resorts they are exchanging; they are independent companies with an affiliation to the resorts.

Resort Ratings: Ratings system rating and comparing a resorts facilities, location, amenities and standards.
In Timeshare there are two main systems which rate and rank resorts. These companies are Resort Condominiums International, known as RCI, Interval International, known as II.
RCI and II give ratings of their associated resorts using pre-specified requirements of standards, amenities and facilities on offer by the actual resort.
They also consider the surroundings of a resort and facilities in the vicinity.
The Gold Crown is used by RCI for their highest standard affiliated resorts.
RCI classes slightly under top quality as Resorts of International Distinction.
Interval International allocate their highest standard resorts as 5 star resorts.

Right To Use (RTU): Occupancy rights for a specified time interval, with no rights to ownership of the physical property.
In some countries and some USA states timeshares are not allowed to be owned by Title Deed.
In such cases a leasehold or Right to Use ownership is purchased.
Allowing an Owner to use the Timeshare for a defined number of years, normally a minimum of 20 years up to a maximum of 99 years.
The actual owner of the Physical Resort is usually the developer or management company.
The Owner may during his right to use lease, sell, transfer or bequeath this asset.

Season: Specific time of the year denoting ownership week for exchange or resale value.
Usually High Season, Low Season and Middle Season.
High season weeks are the most popular weeks at a timeshare resort and are known as red weeks.
Normal demand weeks are white weeks.
Lower demand weeks are blue weeks.

Special Assessment: A service charge over and above the standard yearly maintenance fee.
These special measures are introduced when a Resort is in need of additional large expenditure, such as major refurbishment of amenities, facilities and accommodation.
The additional expense is pro rata, for example, a Studio Owner will pay less that an One bedroom Owner.

Time Division: A system of determining the worth of a 7 day timeshare week usually determined by the season, eg high, medium, low.

For example, a week owned in a Resort in Cornwall England is August would have a higher value than a week owned in the same resort in November, when the weather could be cold and unpredictable.
High Season is also known as Red Season and is the most sought after desirable period.
Usually includes Christmas and New Year.
Medium Season is also known as White Season and has medium demand.
Low Season is also known as Blue Season and is the least sought after season.
Some locations such as Tenerife in the Canary Islands and Hawaii in the USA only have High red Season due to their all year round great weather.
There are all also resorts known as Four Seasons Resorts which offer facilities and activities every week of the year, ensuring no low season.
Other aspects to consider are Local Holidays and Special Events which affect that weeks appeal.

Timeshare: A Resort that is owned by multiple people.
The Units are shared and each owner owns a certain time period rather than owning the physical property.
An owner owns their own week and during that week they can use the accommodation, amenities at the Resort.
Also known as Fractional Ownership and can be Holiday Club membership.

Trading Power: The value allocated to an Owners week when placed with an exchange company. This determines the value when the Owner wishes to exchange their week for a different resort, location or different week in the calendar year.

Unit Size: Usually described as resort unit by number of bed rooms, eg Studio Unit, one Bedroom unit, Two bedroom Unit.
A single Unit, also known as a Studio or Efficiency unit is a single room with no separate bedroom and usually sleeps one to two persons.
A One Bedroom Unit usually has one separate bedroom, a small kitchen and will sleep two to four persons.
If four persons stay in such a unit, two will sleep in the bedroom and two will sleep on a sofa bed in the living room, for example.
Units that sleep more than two people are usually apartment style accommodation, with kitchen and living room area.

Vacation Clubs: An owner holds Vacation Club Membership.
Instead of owning a fixed week at one resort, a member can use any resort affiliated with the Holiday Club where they are a Member.
Usually Points are allocated according to your Membership Package.
An owner can use their Points at any of the locations within that Clubs Resorts and avoids paying extra fees.

Whether buying or selling your Timeshare Resales, Holiday Points or Vacation Club Membership we can help you to sell timeshares, buy & save time and money in a stress free environment.

Welcome to the Timeshare Consultancy website where astute timeshare owners & resale buyers meet to conduct the selling and buying of Timeshares vacation property in a safe, stress free environment without the normal high pressure & buying costs associated with some timeshare resale companies.

Timeshare Resale Buyers Benefits:

*You deal directly with the owner.

*You can save as much as 80% buying privately direct from the owner.

*Buy your ideal resort at your ideal price.

*No commissions ever.

*No brokers fees ever.

*No high pressure ever.

*Browse our extensive resales, including vacations, resorts, holiday clubs, points, exchanges and fractional ownerships.

*Browse Golf resorts, Ski vacations, Beach resorts, City resorts, Spa resorts.

*Send an enquiry, which is emailed direct to the private owner.

*No Hidden Fees.

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Timeshare Resale Sellers Services:

*Buyers will contact you directly.

*No commission or hidden fees ever.

*No brokers fees ever.

*No high pressure ever.

*Unlimited Description for your resale.

*Up to 5 photographs for your timeshare.

*Using our easy-to-use Owners Control Panel on the internet you can add, modify and delete your timeshare easily and quickly.

*Enquiries: Emailed direct to you and only you.

*We will upload your timeshare for you at no extra cost.

*You have full 100% control of your vacation property or points at all times.

*YOU arrange the transfer of funds payment.

*Our job is simply to use our marketing expertise to market your timeshare on the internet so that thousands of visitors view your advert.

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Timeshare Consultancy do not personally sell timeshares or buy timeshares, our website markets and advertise them online on behalf of the actual owners, who receive the direct enquiries.

Our timeshare resales are to genuine resale customers and not to timeshare brokers or resale companies

We put Timeshare Buyers in direct touch with Timeshare Sellers