What Are Timeshare Units?

Real estate companies often sell vacation condos on a timeshare basis.

Timeshare units are vacation properties, typically condominiums, that are owned by multiple parties on a part-time basis. Timeshare owners have all the rights and responsibilities of homeowners, while buying at a fraction of the cost.

Features

Timeshare units are usually maintained by professional property management companies. Unlike hotel rooms, they typically offer home comforts such as kitchens, refrigerators and private sleeping areas.

Time Frame

Timeshare owners typically buy the right to occupy a home for a certain number of weeks per year. Owners have rights to the timeshare property only for the weeks that they purchase.

Considerations

Timeshare owners can rent out the unit to other parties for their allotted weeks. Additionally, timeshare owners must pay yearly fees to the property management company, according to Trails.

References

• Trails: What is a Time Share Vacation?