Frequently Asked Questions (FAQ)
How do I rent or sell my timeshare?
Because timeshares are an investment into your future well-being and not a financial investment, many owners are surprised to learn that timeshares are not typically sold like traditional real estate, where a listing agent takes proceeds from the sale. When it comes to Timeshare, there is no multiple listing service, you cannot place a sign in front the timeshare and you cannot show the unit to a prospective buyer/ renter. In order to rent or sell your timeshare, you must let people know it’s available for rent/ sale and generate exposure.
There are many different advertising avenues to choose from when you sell a timeshare. How does Better Business Lodging compare to others?
|Channels||Better Business Lodging
||Newspaper||Online Auction||Online Resales Co.||Online Classified|
|ADVERTISING||Radio, Internet, Billboards, & Print||Newspaper||Internet Only||Internet Only||Internet Only|
|EXPOSURE||Worldwide||Reginal or National||Internet Only||Internet Only||Internet Only|
|SERVICE||Full Customer Care Department||No closing assistance or customer service||No closing assistance or customer service||Varies||No closing assistance or customer service|
|FINANCING AVAILABLE||Financing for Buyers (available on select inventory)||No||No||No||No|
|COST||One Low-price Ad Runs Until Sold||National Newspaper $900+ 3 weekends||Major Online Auction up to $1,000 90 days||Up to $1000 Term Varies||Up to $1,000 1 year|
Better Business Lodging is the only advertising option that brings the power of radio, the internet, billboards, and print media to your timeshare advertising efforts, making it the best choice to sell or rent your timeshare.
People have said that I shouldn’t pay an “up-front” fee to sell my timeshare. What are they talking about?
The timeshare resale industry has long been plagued with organizations that are “here today, gone tomorrow”. Often, these companies would ask for thousands of dollars “up-front” to sell a timeshare and then disappear without a trace.Better Business Lodging was formed to bring absolute legitimacy to the timeshare resale industry. We are committed to being the most trusted name when customers choose to rent/ buy or sell a timeshare.
Better Business Lodging pools the resources of our advertisers into a single focused initiative: to match those who can benefit from renting or purchasing a timeshare with those who want to rent or sell their timeshare.
I read somewhere that it is illegal in the state of Florida to require an “up-front” fee for the listing of a timeshare. Is that true?
It is if you are a Broker. Section 721.20, Fla. Stat., does prohibit a real estate licensee from accepting up front money for the listing of a timeshare. Better Business Lodging is not a Broker and does not take listings – only advertisements.
What does “Week” mean?
When you buy a timeshare, you purchase a certain amount of time at a given resort. Generally, that amount of time is one week. Resorts create their own individual schedules or calendars of weeks. Usually, weeks are given a number starting with the first week in January and continuing through the end of December and will begin on a Friday, Saturday, or Sunday. The week designation on the ad shows during which week of the year the owner has access to the resort.
What does “Float” mean?
When you buy a timeshare, a floating week allows the owner to reserve any week throughout the year. Some floating weeks are restricted by season and can only be used during a certain span of time during the year. For instance, a summer floating week could be used during any week that falls within the defined summer months.
What are points for?
Owners in this type of system purchase points for use as currency to reserve timeshare accommodations of various sizes, during different seasons, and for varying lengths of time. After you buy a timeshare, points can sometimes also be used for other vacation products such as airfare, hotel stays, and auto rentals.
What does “Membership” mean?
Rather than purchasing at a specific resort in a specific size unit, vacation club members purchase the opportunity to use a variety of timeshare accommodations at numerous resort locations in varied unit sizes. The owner would have the use of all accommodations affiliated with the specific vacation club.
This ad mentions that it’s for two weeks. Is the price for both weeks? Is the maintenance fee for both weeks?
Each ad is personally priced by the seller. When they sell a timeshare, some will price both weeks together while others price both weeks separately. Sometimes two weeks are deeded together and must be purchased together. If the ad doesn’t specifically mention how the pricing and maintenance fees are worked out, simply fill in the form for more information.
Is the week I would like still available for this year?
If the ad doesn’t mention when usage begins upon purchase, simply fill in the form for more information.
Is this unit available during the week I would like?
If you can’t find the specific unit and week you’re looking for and would like to receive assistance browsing through our inventory, simply fill in the form for more information.
Is the asking price for this property really just the advertised price? Are there hidden costs or fees?
The price on the customer’s web ad is generally the price the seller wishes to net from the sale. Many advertisers prefer to let a third party handle title and monetary transfers.
When you buy a timeshare these services do require a fee, however, you and the owner may negotiate the sale however you wish.
I found an ad for a specific week that I would like to rent. I called the resort and they say they don’t have any units available for that particular week. Is this ad correct?
The resort is answering you based on their available inventory. Because someone already owns that week and is renting it out, the resort has taken that into account. Even if the resort is booked, Better Business Lodging can connect you with owners to rent out their personal weeks.
Are the weeks or points already banked for this year?
Possibly. Different resorts require weeks to be banked at different times. Also, the owner must contact the resort to bank the week. If the ad doesn’t specifically address if the week is already banked for the current year, simply fill in the form for more information.
What unit number/building/floor is this?
If the ad doesn’t specifically mention the location of the unit, simply fill in the form for more information.
Is this ad for a fixed unit or will my unit be different each time I visit?
Some contracts are for a specific unit number while some only guarantee a unit size but not the location. If the ad doesn’t specify a fixed unit number, simply fill in the form for more information.
What does “Maintenance Fee” mean?
Maintenance fees are established and collected by the Homeowners Association or Resort Management Company at each resort to maintain the property and pay for insurance, utilities, and refurbishments. Maintenance fees vary with each resort and depend on the size and type of unit.
If there isn’t a maintenance fee mentioned on the ad, how do I find out what it is? Does the omission mean that there isn’t one?
Just because an ad doesn’t mention a maintenance fee doesn’t mean there isn’t one. Maintenance fees in the ads are estimated because they fluctuate year by year.
What does “Annual” or “Biennial” mean?
Some timeshare usage is every year (annual) while some is every-other year (biennial).
What does “Odd year” or “Even year” mean?
Odd and even year usages are biennial ownerships. Weeks with odd year usage can be used during years ending in odd numbers while weeks with even year usage can be used during years ending in even numbers.
What does “Right To Use” or “Deeded” mean?
A Right To Use or Leased property grants the purchaser the right to use the timeshare for a specified period of time allotted in the contract. The usual term of a lease is 30 to 99 years. The resort management or resort entity holds actual ownership of the resort property. Upon the expiration of the lease term, the right to use will generally terminate and return to the resort. To find out how many years remain on the lease, simply fill in the form for more information. A Deeded property has the same rights of ownership accorded to it as any deeded real estate. The owner owns it in perpetuity and may sell, rent, bequeath, or give away the property.
How many years are left on this lease?
If the ad doesn’t specifically say when the lease ends, simply fill in the form for more information.
What does “RCI” or “II” mean?
RCI (Resort Condominiums International) and II (Interval International) are exchange programs. Exchange programs allow owners to exchange a vacation week for a week at any participating resort. This type of membership allows additional flexibility in ownership.
To learn more about buying, selling or renting your timeshare… Contact Better Business Lodging today!
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