Are you new to the world of Timeshares? This FAQ is a great place to begin expanding your knowledge.
What are the exact dates for a certain week?
You can look up the specific dates for each week by viewing our timeshare calendar in the Resources menu.
Where can I find an explanation for timeshare terms such as escrow, exchange, lock off, notary, etc?
Please check out our Timeshare Glossary in the Resources menu.
What does biennial or triennial mean?
A biennial ownership is an ownership that is only available on every other year. Biennial Odd would mean you can use the timeshare every odd year. Biennial Even would be available every even year. A triennial ownership receives usage every third year. Depending on the resort you may only pay maintenance fees on the biennial year, or the resort may split it over two years and you would pay annually. Each resort/developer is different so it is important to ask the seller what their total maintenance fee is when inquiring about purchasing.
Do I have to have good credit to purchase a timeshare on the resale market?
Very few resorts require a credit check to purchase. Having a less than stellar credit score is not a problem for purchasing a resale timeshare. However, timeshares require the prompt payment of maintenance fees and it is not advisable to purchase a timeshare if you can not afford the ongoing maintenance fee responsibility.
Can I let someone else use my timeshare or rent it to someone else if I can not use it?
Yes, as an owner you can let someone else go in your place or rent out your week/reservation. You just need to let your resort know you are sending someone else in your place. They may charge a fee to put a guest on the reservation. Each resort is different so we recommend asking the seller if there is a guest fee.
Do maintenance fees increase every year?
Typically the annual maintenance fees and taxes do increase each year. This increase is on par with the increase in the cost of living. In some cases maintenance fees are increased a higher percentage to cover additional expenses or reserves. When compared to the increase in hotel and motel costs, timeshares typically increase less.
How long is a timeshare ownership good for?
Most timeshares that are deeded in the USA are perpetual. They do not expire. Most timeshares outside of the US are considered right to use or membership type ownerships and these typically have an expiration date. Each contract is different so we recommend contacting the seller with this particular question.
Can I stay longer than the typical 7 days?
No, a traditional timeshare is for 7 nights. If you try to stay longer they will evict you or continue to charge you the public rate. When using points you can make reservations for shorter or longer stays, depending on how many points you have and use.
Do I have to pay extra for additional people staying with me?
Each unit has a limit to the number of people that can stay. A studio typically has an occupancy of two to four people, a 1 bedroom typically sleeps 4, a two bedroom typically sleeps 6-8, etc. You are not charged based on the number of people in the unit. However, if you go over the occupancy of the room you may be required to pay additional fees or be forced to vacate the unit. We don’t recommend trying to fit more people in a unit than it is designed for. Why ruin a nice vacation.
Do I have to purchase an all-inclusive package?
Timeshares in the US tend to not have all-inclusive packages. Most timeshares outside of the US do have some sort of all-inclusive package. As an owner you are not required to purchase an all-inclusive package, unless the resort is mandatory all-inclusive even for members. There are only a handful of resorts that make all-inclusive a requirement.
Does bonus time transfer on a timeshare purchased on the resale market?
Typically bonus time is a direct purchase perk, however many resorts do offer bonus time and day usage even to resale purchasers. We recommend asking the resort/club directly or inquiring with the seller in regards to the bonus time.
Do I have to pay maintenance fees all at once or can I pay it monthly or quarterly?
Most weekly timeshares require the maintenance fees be paid in the beginning of the year. Points timeshares such as Wyndham, Worldmark, and Diamond Resorts allow their owners to pay monthly maintenance fees. We recommend checking with the seller in regards to the maintenance fee payment schedule as each resort/club is different.