How does Timesharing and Vacation Ownership work?
Each condominium, or unit, of a vacation ownership resort or timeshare is divided into intervals, either by the week or points equivalent, which are sold separately. The condominiums are priced according to a variety of factors, including size of the unit, resort amenities, location, and season. With timeshare, owning your vacation is considered a major benefit. Once a majority or other pre-set percentage is sold to vacation owners, the management of the resort is usually turned over to a Resort Property Owners Association (POA) or Homeowners Association (HOA). The vacation owners in turn elect officers and take control of expenses, upkeep and the future of their resort property, including the selection of a management company.
