What is a timeshare?


Quick Answer

A timeshare is a real estate investment owned jointly by several different individuals, families or organizations. When using timeshares, the individuals or organizations own the property jointly, however, they rarely know each other. The property is used for a specific amount of time every year by different owners, typically for vacation. Each owner generally spends a week or more at the property.

Continue Reading

Full Answer

Timeshares are an economical alternative for who want to avoid paying maintenance and property upkeep expenses. Timeshares are generally condo- and apartment-styled properties inside a large complex. Most timeshares are located in resort communities and well-known vacation destinations. These properties are fully furnished and incorporate multiple bedrooms, a kitchen and a living room.

While using a timeshare, owners are allowed to leave certain items like clothing and household products locked in storage areas or designated closets. Most timeshare properties are managed by specialized corporations that handle yard work, housekeeping and maintenance. Depending on the terms of the property, it is possible to swap time in one place for time in another. This is a convenient feature that allows owners to visit several different places without paying expenses associated with lodging. There are also options to negotiate length and division of time.

Learn more about Real Estate

Related Questions