Understanding Timeshare Exchange Programs
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If you own a timeshare property, you should be able to maximize the pleasure you get out of it. That’s where the real benefit of a timeshare lies. When you buy a timeshare, you purchase vacation time at a preset price. For this purchase to be worthwhile, you have to use the timeshare. Experts say that using a timeshare property consistently for ten years costs less than renting accommodations in a similar resort per year – and that’s when you purchase your timeshare directly from the resort.
One of the most important ways in which a timeshare owner can maximize the enjoyment of owning his / her property is to make use of timeshare exchange programs to switch timeshare weeks and locations. There are a number of different timeshare exchange plans and companies. If you do not yet own a timeshare, this is a very important aspect to consider before you purchase one.
• Timeshare exchange companies: Becoming a member of an exchange company will allow you to exchange your timeshare weeks or destinations with other timeshare owners, across the world (you trade the right to use your timeshare in a given period with another owner of another property). To become a member of either one, you must own a timeshare and pay an annual membership fee as well as a per-trade fee. Some exchange companies will let you exchange your timeshare in real time with other members at a reasonable per-trade fee without becoming a member. Timeshare owners who wish to trade resort locations or times simply deposit their timeshare with an exchange company and indicate the location, time period and type of timeshare unit they are looking for. The company then locates another timeshare owner who wants the deposited week and destination. If a timeshare owner’s request is already deposited with the exchange company, the owner will get it right away – if his / her timeshare exchange trade power permits.
• Private trading systems: A number of timeshare companies have their own exchange program, allowing owners to trade their timeshares within the same company. Marriott and Disney are two examples of companies that maintain their own timeshare exchange systems. For example, Marriott timeshare owners can exchange the use of their unit every, two years, for points. These points can be used to vacation at Marriott timeshares or hotels anywhere in the world. The difference between exchange companies like I.I. and the Marriott system is that you must have bought your timeshare directly from Marriott to use the system (buying a Marriott timeshare on the resale market does not allow you to use the system). Many timeshare developers also use ‘floating week’ exchange plans, meaning the timeshare owner buys a week (or weeks) that he / she will be able to use anytime of the year at the resort at that resort.
• Trading timeshares directly with other owners: Even if your timeshare company does not have an exchange program (or you if are not qualified to use it because you did not purchase your unit directly from the developer), you’ll find specialized online services that help you exchange your timeshare directly with other owners, without joining an exchange company.
• Renting timeshares: many people rent out their timeshares and the money to rent another timeshare unit at a different destination and / or time period (or just use the proceeds to vacation somewhere else, not necessarily at a timeshare resort).
• Simply exchange your timeshare with friends.
Timeshare trade power is a determining factor in any owner’s ability to take full advantage of timeshare exchange options. The location of the timeshare resort is extremely important in determining the exchangeability of your unit (the more popular the destination, the higher the trade power), as is the season. If you own a timeshare in what is known as the ‘Red’ season i.e. major holiday seasons, its trade power is higher. Other factors that affect trade power are facilities available, size etc. Always make sure to obtain, in writing, the terms that apply to using timeshare exchange plans, whether from exchange company or from the timeshare resort management.
Tags: vacation timeshares, marriot timeshare, timeshare sales, timeshare resale scam
Posted on: Monday, March 1, 2010 at 6:44 am 
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