Understanding Timeshares, Fractionals, Residence Clubs and Destination Clubs
What are the differences between timeshares, fractionals, Residence Clubs and Destination Clubs?
While time-shares and fractional residences are related; both involve shared ownership of a vacation property. There are a few key differences between the two.
What is a Timeshare?
There are two methods of ownership. Deeded ownership: you own a tiny fraction of a condo or a villa. Right to use: gives you no deeded real estate interest.
What is a point based system?
What is fractional ownership?
Fractionals also tend to have a luxurious level of furnishings, services and amenities compared to time-shares. In the late 1990s, high-end hotel companies began investing in fractional ownership and the newer clubs often operate like four- and five-star hotels. Owners arrive at their furnished properties to find the refrigerator stocked, twice a day housekeeping, and spa appointments prearranged.
Fractional residences average between 1,700 to 2,500 square feet and are typically larger than traditional time-share units. Similar to time-shares, fractional residences may be affiliated with a free timeshare exchange program, such as RCI or Interval International. Owners may only exchange weeks with similar properties operated by the same company. For the vacationer who want the experience of visiting new location each year, this product may not be suitable. That's where destination clubs come in. Their emphasis is more about availability and diversity of locations. Initial membership fees are required and a portion is refundable should a member leave. Destination clubs target upper-end buyers who purchase a membership in lieu of an additional vacation home purchase. Just like high-end fractionals, these destination clubs are amenity-rich. Some potential buyers may see a downside to destination clubs because they may not always benefit from the price appreciation of the real estate.
Residence Clubs and Destination Clubs
Private residence clubs and vacation fractional ownerships offer tremendous benefits and are an excellent investment. However, one of the drawbacks has been the complexity and confusion related to governing the actual usage. Frequently changing rules and regulations along with very time sensitive deadlines request a high level of management to ensure full enjoyment of the benefits. This can be a stressful and time-consuming process. MembersTrade® can successfully manage your fractional.
Many of you have specific preferences when it comes to your vacation lifestyle. The timeshare industry offers you many options to fit your leisure time. Their variety of products, allows you to decide what is right for you. Time-shares also know as interval ownership, applies to fractionals and biennials. Vacation ownership products are designed to provide greater usage, that you will use and enjoy for many years. Listed below are the definitions that are used and should allow you to understand the products.
The most important aspect of each of these vacation products, however, is the exchange program.
Private Residence Clubs and Fractional Products Explained
We handle everything to allow you to focus on the enjoyment of your precious leisure time. You would be assigned an Account Manager who would work with you to create a travel profile and review your preferences. Your Account Manager will assist you by making reservations, requesting changes and monitoring your waitlist.
Your desired dates and locations will be a priority, as we take the responsibility to meet the rigid request deadlines and continually monitor those requests
We can manage additional time that may be available for you through your fractional or private residence club, most commonly on a space available or per diem basis.
This option allows us to manage both your basic allocation and supplemental time.
I am interested in Allocation Management (Fees vary according to each program).