I think, therefore I transfer.

Monday, May 31, 2010

Smart Facts about Timeshare Weeks

When you plan to get out of your timeshare by putting it on sale or lease, it is important that you must be familiar with the designated timeshare weeks. We all know that timeshares are divided among different owners and a timeshare week chart is used so that all the owners will have an equal opportunity to use the vacation property.

The term timeshare week basically refers to a specified time wherein the owner is given the exclusive right to use the property for one whole week. For example, if your schedule implies that you can spend time on the property every 2nd week of March annually, then, that is your designated timeshare week.

This ensures that every owner will be given equal rights on the property. This is simply because one timeshare property can be owned by a certain number of people. In order to give them fair access to the property, the duration of stay is divided in weeks. However, the timeshare details and designation of use will vary greatly depending on the vacation property. Some may only be given one week yearly to access the property, while some can spend more than one week per year.

One of these common types of timeshare weeks is called the fixed week. This is technically an appointed week each year wherein the owner has the chance to use such vacation property. The good thing about this setup is the fact that you can rent out your designated week of stay to any vacationer or you can trade it to another owner if you decide not to use it during the allotted period time. Thus, be sure to check your designated timeshare week before deciding to rent or sell your share to ascertain that you will be able to come up with the right price value.

Smart Ways to Exchange Your RCI Timeshare to the Best Resorts in Los Cabos

Los Cabos is located at the tip of the longest peninsula in the world and considered as one of the best vacation destinations for timeshare owners. Despite the bad reputation of fractional ownership and there are many owners today who are trying to get out of their timeshares, this destination still attracts several holidaymakers every year. Meanwhile, some vacationers can avail this little paradise through timeshare exchange.

Before choosing any specific place in that area to exchange your timeshare, you must decide which place you'll most likely want to visit. Most of the towns offer excellent access to fine dining, fishing, shopping, night life and world class beaches but they are different as night and day. Next, is to determine the best the time of the year to go and not to go. You'll find much greater timeshare exchange availability and some of the best travel bargains in September.

One of the best ways to exchange timeshares is through RCI. As an RCI member, the earlier you bank your week the more trading power you have. If you have a fixed week, just make sure you bank it at least 7 months in advance or more to strengthen your exchange power. On the other hand, if you have a floating or points based timeshare, ask your resort to deposit the most powerful week available. Also, always deposit your next year's week this year if you know you will not be using it at your home resort.

When you decide to spend your vacation in Los Cabos through timeshare exchange, remember that how far in advance you should request depends on many different factors and will differ with each timeshare owner. If you have a very powerful exchanging timeshare and you're requesting shoulder or off season, it's possible you'll be confirmed when you request. Most of the times, there will already be a waiting list to get into the top resorts. So, as a rule of thumb you should request as far in advance as possible.

Sunday, May 30, 2010

Smart Reasons Why You Should Stop Your Timeshare Ownership

For those people who opt for timesharing, they are looking to spend their vacation in luxurious places. One thing also that attracts them is that they are promised that they can save a great amount of money than going on an ordinary holiday club. However, there are also a number of disadvantages that potential owners should be cautious about timeshares. For those current owners these disadvantages could be the reason why they should get out of their timeshares.

First reason is that you might be loaded with your work so you don't have that much time anymore. Also, your children might already be tired of seeing the same place every time and thus, you can no longer maximize the use of your unit. Another one is that you might be sick of paying the increasing maintenance fees, special assessments, and taxes. These fees are not just like any other expenses. These are typically thousands of dollars which you have to pay every year.

Also, you may have gotten frustrated when the listing company you signed up with to sell your property. Considering it is very hard to resell or rent your timeshare, you would want to get rid of your unit as soon as possible. Moreover, you may feel that because you have a timeshare, you are restricted from experiencing other vacation getaways. If you want to enjoy vacation spots other than your vacation property, then your expenses would definitely double. You may also have discovered other options to go on vacation for less without purchasing timeshares and this could be the reason why you get rid of it.

The above points are some of the common reasons how timeshare ownership has turned into a nightmare. Thus, for a number of owners, they want to get rid of their timeshares as soon as possible. Especially with the current economy, most individuals are on a tight budget and should be smart in dealing with their expenses. Having a timeshare property is one of these things that should be dealt smartly.

Saturday, May 29, 2010

Smartly Knowing the Real Cost of Timeshare Ownership

Timeshare ownership can be a way to achieve one’s dream vacation. Many individuals opt for this than any other ways despite the reported number of owners who want to get out of their timeshares. This also gives the owner the opportunity to take a vacation in a different resort every year. The timeshare owners don't really own the said property, but only of share of it. Moreover, they can enjoy a new accommodation for a specific period of time every year.

To understand the timeshare system, let’s have an example. For example, one real estate developer buys a resort of 200 rooms. The year is divided into 52 weeks and then the 200 rooms are multiplied by 52 weeks to get the potential number of customers using this facility during one week. The result is 10,400 potential customers. If 10,000 dollars are charged weekly per room, the developer will earn up to 104,000,000 dollars per year as an initial payment.

The common trap for timeshare owners is the fee charged in the name of the maintenance fund. At the beginning, these charges are kept low. Thus, this gives the owner a sense of contentment and relaxation. Unfortunately, this relaxation and contentment generally vanish after a while, as the maintenance charges go up.

It is said that timeshare ownership gives flexibility to the owner. This helps them to change the location and time period. However, this requires membership of an exchange company and this adds another financial burden which is the membership fee of that exchange company. In addition to this membership fee, an annual fee to maintain this membership is also required to be paid regardless of the fact that this facility has been used or not.

Moreover, timesharing as one of the most popular vacation options have many types of visible and hidden charges which increase its overall cost. This includes initial membership, purchase fee, annual maintenance charges, exchange club fee, additional exchange costs. The accumulation of all these costs makes the timeshare cost bigger than what the owner actually thought.

Friday, May 28, 2010

Transfer Smart News: New Laws in Malta Targets Abusive Timeshare Touts

For the recent years, the timeshare industry is well-known as a haven of scammers and mis-selling practices. Although most of the victims are owners who want to get out of their timeshares, potential owners are also vulnerable to these fraudulent activities. To battle these problems, new regulations have been passed to the local governments in some countries. For example, in Malta, there’s a new and tough legislation that aims to regulate the timeshare industry which was tabled in the House of Representatives by Parliamentary Secretary for Tourism and MEPA Mario Demarco. The “Timeshare and Timeshare-like Products Promotion – Licensing of OPC Representatives – Regulations of 2010” will see to it that timeshare touts will be fined up to a maximum of €2,300 for each infringement.

As revealed by sister paper Illum, each timeshare company will be required to deposit a guarantee to ensure that timeshare staff behave correctly with tourists, although the bond per timeshare representative has now gone down to €2,500 in the actual regulations from the €3,000. With the new regulation, the Malta Tourism Authority or MTA, which regulates the tourism sector in Malta, will be fining directly the companies found breaking the rules and taking the money out of the deposited bond money.

According to an international timeshare website, the legislation the tourist authorities needed to be able to protect the tourists had been recently passed. Moreover, the MTA was planning to outsource security patrols to police the timeshare touts. The decision to establish a pre-paid deposit by the MTA was described by the website as a clever move designed to enforce the legislation effectively. On the other hand, the timeshare reps were predominantly from the United Kingdom and targeting UK tourists who are on vacation and visit the island for the good weather in Malta as the UK was a main market for Malta.

Thursday, May 27, 2010

Transfer Smart News: Mexico Imposes New Timeshare Rules

The timeshare industry has already been a haven of scams and misselling practices in the recent years. Many consumers are complaining about this especially those owners who are trying to get out of their timeshares as they become the usual victims of such fraudulent activities in this industry. With this, most countries establish new rules regarding timeshare offers. One of these is Mexico. With its Ministry of the Economy, it recently published new information on requirements and regulations for timeshare service providers, and failure to comply with the new rules will result in fines and affect timeshare purchase agreements.

This NOM or Official Mexican Norm which is entitled NOM-029-SCFI-2010, Commercial Practices, Information Requirements for the Rendering of Timeshare Service will perform a number of functions. It will broaden the definition of timeshare service "provider" to make timeshare regulations applicable to any person or entity that periodically offers, provides, and/or sells timeshare services. In the previous timeshare NOM, it applies only to timeshare service providers.

It also recognizes the privacy rights of timeshare consumers, prohibiting the use, sale, or assignment of their information for marketing purposes without their written consent. The new rule will also establish less onerous requirements for terminating a timeshare plan. Moreover, it lessens the burden of guarantees shouldered by providers regarding the performance of obligations under timeshare purchase agreements. The "guaranties" section and the "guaranty of alternate use" provisions of the previous NOM will not be included in the new NOM.

Today, timeshares ownership still remains as one of the most popular vacation option. To protect the consumers from being lured by certain timeshare providers, the new NOM will prohibit providers from using raffles, gifts, prizes, and lodging certificates to offer their services without specifying, in clear and unambiguous terms, the purpose of the corresponding offer. Furthermore, the new NOM establishes several requirements for timeshare sale and presale agreements.

Friday, May 21, 2010

Smart Benefits of Vacation Ownership and Timeshares to Senior Citizens

Seniors mostly want to enjoy high quality vacations for themselves or with their friends and loved ones. As they are on their golden years, that’s the perfect time for them shine and to share what they have with those dear to their hearts. When it comes to vacationing which most seniors would love to do, it could greatly benefit by having an ownership plan whether vacation ownership or a timeshare. Despite the negative image of these vacation options like the scams and the number of owners trying to get out of their timeshares, these still remain popular among holidaymakers.

With vacation ownership and timeshare, seniors are not sacrificing quality over costs. They get to stay in quality resorts instead of looking for bargain hotels that could cost much higher. They understand the idea of getting the ownership paid off and still having an asset for continual enjoyment that can become part of their estate or sold.

These options are also flexible and offer a variety of travel choices. As we get older, there are some situations that just crop up that require attention like doctor appointments, etc. Such programs do not require the buyer of the vacation to lock in to a specific week for their vacation every year, in a set sized condo, at only one specific resort. Moreover, some seniors are working part-time to keep them active and to supplement income or cover insurance needs. Thus, they need to have flexible vacation planning options.

Meanwhile, seniors are asking for programs which will allow them to be with others on vacation as compared to being by themselves. This includes being with their love ones or family members. Some of the vacation ownership companies have programs that able to arrange group travel. Furthermore, some seniors still look forward to visit someplace special while still alive. Hence, vacation ownership or timesharing can be a way for seniors to make their Golden Years glitter.

Thursday, May 20, 2010

Smart Things You Should Watch Out About Scams

Today, there are lots of scams operating in various ways. These fraudulent activities rise at a tremendous rate because there’s an enormous amount of profit that can be earned in a short span of time. The timeshare industry is not exempted from these with most of the victims are those owners trying to get out of their timeshares. As reported, the timeshare scams have touched the peak in a short interval of time.

This article presents a number of tips and things that you should consider before going into any venture. Remember not to be tempted by high returns. Whether it’s legal or not, just about all investment returns are related to risk. It's best never to put money at high risk that you can't afford to lose.

It is advisable also to consult a third party, like an unconnected broker or financial adviser about any unusual or high-return investment you are considering. It may reduce the risk of being caught out. Don't be fooled into believing that an investment is safe just because someone you know recommended it. Affinity scams, as they called it, are one of the favorite methods used to lure people into Ponzi schemes. It is important to examine the track record of the individual or organization. Beware also of vague and unsubstantiated statements, both about the financial performance of the business and the actual investment strategy.

More importantly, get as much information as possible in writing. This includes the details of the offer, names of validating organizations, the organization's own research documentation, and copies of any contracts you will be asked to sign.

Scams are very rampant these days whether in the vacation industry or any other sector. However, it is your duty to be informed about such operations before you might get caught. The above-mentioned points may serve as your guide to be aware of such things.

Wednesday, May 19, 2010

Transfer Smart News: RCI Adds New Resort to Their Network

As the economy is heading towards full recovery, the timeshare industry is again flourishing as evident with the new timeshare resorts. Despite the challenges faced by this industry for past two years like the number of owners trying to get out of their timeshares and how to boost sales, this industry showed resiliency. Recently, RCI announced that Branson’s Nantucket Resort in Branson, Mo., has affiliated with their network. RCI is considered the worldwide leader in vacation exchange. As part of this affiliation, Branson’s Nantucket plans to offer its owners RCI Points PlatinumSM membership. This is a new premium membership and enhancement to the RCI Points program which is currently under development. This will also offer exclusive exchange and lifestyle benefits to subscribing members.

According to Gordon Gurnik, president of RCI North America, we are very pleased to welcome Branson’s Nantucket into the RCI network. He added that as Branson is a national destination that offers fantastic vacation experiences, this beautiful resort is a tremendous addition to their collection of top vacation options that they offer to their RCI subscribing members.

Branson’s Nantucket is a lakefront resort offering outstanding views of Table Rock Lake. All homes are Nantucket-themed with two-, three- and five-bedroom options that can sleep up to 14 people. This is located only minutes from the “Branson Strip,” and each fully-equipped home offers gourmet kitchens, washers and dryers and living rooms that include fireplaces and plasma TVs.

Meanwhile, as Richard C. Huebner, vice president of sales and marketing of Branson’s Nantucket said, RCI invented the timeshare exchange business over 35 years ago and has been the innovator and leader ever since. Their diverse selection of resorts the world over deliver high quality vacations to their members. He stressed out that being associated with RCI was important to Branson’s Nantucket. Furthermore, RCI also offers exciting technological resources and marketing advantages for them as well as a large selection of vacation resorts for their timeshare owners.

Tuesday, May 18, 2010

Transfer Smart Outlook: Are Timeshare Bargains Really Bargains?

Historically, timeshares, where owners are deeded a small portion of a resort property used for vacationing are considered lousy purchase. Just like a new car, they lose value when you drive it off the lot. You also have to pay upfront for future use. Moreover, you have to pay maintenance fees and your exchange value diminishes as the fickle public wants to stay in newer and newer resorts. For these reasons, many owners want to get out of their timeshares. But according to American Resort Development Association, there are still 4.5 million households who have bought one or more weeks in one of the top 1,600 timeshare resorts.

Nowadays, people are practically being paid to take a timeshare week off someone's hands. Just look on eBay and you'll find auctions on timeshares for $1. But as much as those deals look like absolute steals, that doesn't mean that now is the perfect time to buy a timeshare. In fact, if a timeshare didn't make sense as an investment before the real estate market flat-lined, it is still the same now.

The truth is, people have been walking away from timeshares since the point that they got home from one of those high-pressure sales pitches. That's in part because of how timeshares are marketed and sold. If the only way you can afford to take that Maui helicopter ride is to listen to a timeshare presentation, the chances are you have no business buying your lifetime vacation week. Timeshares are also sold by volume. According to industry experts, for every 100 people in the room, 10 sales are closed.

So, with the previous economic meltdown that we experienced for the previous two years, more people than ever before are trying to get rid of their timeshares and that is not exactly a huge surprise. Consequently, the units available in the market are getting cheaper and cheaper. Now, the question is, does that make those timeshares any better an investment? No, it doesn't. Although it may make them a slightly cheaper bad investment, if that's what you want.

Monday, May 17, 2010

Transfer Smart News: Fractional Real Estate Competes with Timeshares in British Columbia

The previous two years have been hard for almost all businesses. The timeshare industry is not exempted from this with its sales decreasing while the number of owners trying to get out of their timeshares is increasing. But today, the fractional real estate challenges timeshare dominance in British Columbia's Columbia Valley which is an area that has traditionally been a popular timeshare destination.

According to a report, The Residences at Fairmont Ridge recently released a new form of ownership in Columbia Valley for town houses that are part of the proposed redevelopment of Fairmont Hot Springs. In a move to directly compete with timeshare offerings that are common in the area, the Marble Ridge Developments is now offering deeded 1/16th fractional ownership options for CAN$38,900.

As Tim Tourond of Marble Ridge Developments said, timeshare product has remained the competitive choice in the Columbia Valley due to its low cost and flexible exchange programmes. But with the new fractional offering, owning a second home becomes a smarter choice and significantly easier. And in these times, ease and value mean everything.

The Residences at Fairmont Ridge offers their buyers to get three weeks of use a year. That’s two weeks of standard rotation and a Summer Plus programme that is unique to The Residences. Like all purchases, the owners are also part of the RCI exchange programme. The said programme was created to ensure that fractional buyers receive ideal weeks, as opposed to its vacation option counterpart which is the traditional timeshare or fractional rotation that doesn't guarantee those times of the year.

Friday, May 14, 2010

Transfer Smart News: Buyatimeshare.com Work with a Foundation for a Timeshare Donation Program

During the previous two years’ economic meltdown, most timeshare-related companies faced a number of challenges like the issue of sales and how to minimize the number of current owners who are trying to get out of their timeshares. However, in the late of 2009, one company called Buyatimeshare.com still managed to work with Defeat Diabetes Foundation for a timeshare donation program. It is said that an estimated over 20 million Americans suffer from Diabetes and the program benefited them.

In 1990, Andy Mandell and his brother Jerry co-founded the Defeat Diabetes Foundation. Andy who after being diagnosed with Diabetes in 1985 was faced with a choice whether to make drastic health changes or die. Through his aggressive self management and sound advice from a group of specialists, Andy began to rebound. He then launched an internet site called Defeatdiabetes.org. Since then, he has been educating the public about diabetes through The Defeat Diabetes internet website and through public appearances.

As the research says, any form of on-line support to a diabetic will result in better management of critical parameters to prevent future complications. This is particularly useful and relevant for those professionals who are high-risk for diabetes because of the lack of balance between work and life. Also, many people are unable to keep pace with doctor’s appointments and monitoring their illness.

According to Peter Emery, Director of Sales for Buyatimeshare.com, when Andy Mandell contacted Buyatimeshare.com asking for help, it seemed like a perfect fit because his father who already passed away was also a diabetes victim. The said vacation-related company has raised more than $5000.00 since the inception of the timeshare donation program.

Thursday, May 13, 2010

Transfer Smart News: New Website Provides Legal Assistance to Timeshare Victims

The timeshare industry is considered as one of the fastest growing industries today. As a matter of fact, it is a 9.7 billion dollar a year industry. However, due to some of its advantages, scams, and misselling practices, it is seen by many in a very negative light. These also drive a number of current owners to get out of their timeshares. But as the malpractices and scams in this industry are rising, a number of companies arise to address such problem. One of these is the recently launched website called MyTimeShareAttorney.com. This website provides timeshare victims who feel they were misled or coerced in the sales process with resources and information to assist them in cancelling their timeshare.

Most people have no idea how much has gone into the timeshare sales process to ensure they are on the hook for a new timeshare before leaving their presentation. All contingencies have been thought through, from escalating offers to staff members entertaining potential purchaser’s children. They want to avoid all distractions so they can focus on closing the deal.

According to Attorney Susan Budowski, while there are certainly timeshare companies that operate in a professional manner, the majority of timeshare owners she had come in contact with are so distraught over their purchase and they feel violated. Thus, Ms. Budowski wants people to arm themselves with information so they are prepared in case they find themselves in a timeshare sales scenario.

She added that these unscrupulous companies have turned one of life’s most coveted experiences, a vacation, into a nightmare. As Ms. Budowski advises, if you are considering a timeshare as your vacation accommodation option, do not make a decision on the same day. Remember that there will always be another deal.

Wednesday, May 12, 2010

Transfer Smart News: Radio Host Criticizes Timeshares

Up to this day, we all know that many owners are trying to get out of their timeshares due to some of its disadvantages especially the fees involved with it. With this, many potential buyers ask, are timeshares a waste of time? According to one financial expert, if you are thinking about buying a timeshare, you are making a bad decision. Dave Ramsey, host of the Dave Ramsey Show on News/Talk 92.3 KTAR also added that it's playing with fire while sitting in a puddle of gasoline.

Ramsey said that for starters, there is no redeeming value. You can't give the stupid thing away as there's no market for timeshares whatsoever and nobody buys them. It is one of the few consumer products that has a 97% dissatisfaction rate, he said.

Another question is what if someone who owns one offers to give it to you as a gift and all you have to pay is the $250 annual maintenance fee? According to Ramsey, until the $250 becomes $1,000 because the timeshare organization decides to get together and raise the fees, and then you're stuck in the thing.

However, if you are on vacation and you are offered a free stay and meal just for listening to a timeshare presentation, Ramsey said the establishment is probably not that nice anyway. Moreover, Ramsey added that you should not think you are strong enough to just take the freebies and run.

Despite the number of owners trying to get rid of their timeshares these days, we can’t deny that such vacationing option remains a popular choice for many consumers. However, potential owners must also be ware the disadvantages and financial obligations brought about by timeshare ownership and those criticisms of Ramsey might serve as a guide or warning for those planning to opt for this or of vacationing.

Tuesday, May 11, 2010

Smart Ways to Get a 2-Bedroom Unit for a 1-Bedroom in a Timeshare Exchange

Timeshare exchange is considered one of the great features of timesharing. For some owners, instead of getting out of their timeshares as they seek for more variety, they resort to this option. However, a number of owners are asking if they put in two one-bedroom units in RCI or Interval International, can they take out one week in a two-bedroom?

The answer may depend on a couple of things. First, is how powerful an exchanger you have and also if you've done everything possible to maximize your exchange power. You need to be broad in your request. So, instead of giving RCI or Interval International one to three resorts you'd like to exchange to, you may broaden it out to 8, 10 or 15 and that will increase your possibility of getting a two-bedroom for a one-bedroom quite significantly.

Also, you'll want to find out how many two-bedroom units are in each of the resorts you're requesting. Most timeshare owners think that the majority of the resort's floor plans are 2 bedrooms when in fact a particular resort may only contain 3 or fewer 2 bedrooms. If this is the case, then you should add another resort to you list.

Meanwhile, you'll also want to increase the span of time with which you'll accept a confirmation. Thus, instead of requesting just the second week in February, expand it to include any week in February through March or April. This will increase your possibilities of getting a 2 bedroom for a 1 bedroom exponentially.

Timeshare exchange gives you the capability to enjoy more your chosen vacation accommodation option. To address the question above, broaden out the number of resorts you're requesting, expand out your reservation window and learn how to maximize your exchange power and you'll have a much easier time of getting a two-bedroom suites with your one- bedroom deposit.

Monday, May 10, 2010

Smart Reasons Why Timeshare is Not a Good Buy

Timeshares can be a great way to relatively enjoy a vacation with the amenities, location, and other benefits that it offers. But many owners today are finding ways to get out of their timeshare contracts and trying to figure out why they feel like they own something completely different from what they thought they were buying. Timeshare can be a deceiving product and may have a way of robbing people the wrong way, once you own one. This article presents a few reasons why timeshare is not a good buy.

First, flexibility is difficult to achieve with a timeshare. Going on a vacation requires a lot of planning ahead when it comes to timeshares and most of the time, it will require you and your family to be incredibly flexible with dates and locations.

Most resorts will fool you by their promises. The resorts will do their best to convince people that they have a large inventory of resorts that any owner can trade with which allows owners the opportunity to travel the world. The trading benefits may sound good but the reality is most people can’t use that feature.

Timeshares can also become quite expensive. Most owners did not calculate all the extra fees that make it add up to even more. Be aware that there are certain fees when it comes to timesharing. This includes maintenance fees, trading membership fees, special assessments, etc.

The resale market is already devastated and you should never buy a timeshare with the intention of selling it. Moreover, even owners with points don't always have enough to get a whole week's vacation. Most timeshare resorts design their points system this way in order to talk you into buying more points.

Timeshare is one of the most popular vacation accommodation options these days. However, for those who are planning to own one, they should beware about the negative side of this form of vacationing. If not carefully analyzed and planned, this could be a nightmare to the owner.

Friday, May 7, 2010

Smart Ways to Detect a Timeshare Scammer

Vacation is already a part of most individuals and although it may involve cost, the advantages of doing so are already worth it. Today, one of the most popular ways of vacationing is through timeshares. But due to the struggling economy, it has forced a number of owners to get out of their timeshares by reselling it. Along with this, there are also timeshare marketing firms which aid these owners in the resale industry. However, the Better Business Bureau or BBB still warns timeshare owners about scammers in the resale industry.

Typically, telemarketers often convince timeshare owners to sell their property, getting them to purchase marketing contracts in the process. Such marketers are aggressive in pressuring timeshare owners as if there was already a confirmed buyer. The contracts can cost up to $4,000. But most timeshare owners don’t even get a call back after payment.

The BBB has already received many complaints about these types of scams. The usual approach is to phone timeshare owners and to get them to pay money upfront. Then, they tell them that there is already a buyer.

To make sure you will not commit such mistakes, check the reputability of the company you are negotiating with. You can contact the nearest BBB branch in you vicinity to confirm the legitimacy of the company. Never shell out money when trying to get rid of your timeshare especially when you are not assured of the company’s intentions. Many owners already did and don’t be like them.

Thursday, May 6, 2010

Be Smart to Know Your Timeshare Contract

There are some things in life that happen unexpectedly. These may be a family emergency, a job change or a health issue. Whatever it is, some things need to change. For timeshare owners, this may be the time to go through their expenses and reassess life as they may come across a particular cost that they haven't paid much attention to in the past-your timeshare contract. Such changes in life may lead them to question whether a timeshare is worth your time and money. For some, they may decide to get out of their timeshare.

Owners looking to give their timeshare back to the resort must look closely at their timeshare contract. Most contracts have no legal terminology stipulating that a resort needs to take back the timeshare. Many owners though may not be aware of this.

It is advised that owners looking to sell their timeshare must read the contract themselves. If possible, have an attorney read over the details as the contracts are often long, in depth, and cover every possible contingency including ownership rights and responsibilities. This also helps raise the legal issues of your timeshare.

The timeshare contract will ultimately let you know what you can and can’t do with your timeshare. These include your options when deciding to finally get rid of your timeshare either you will resell it, rent it out, donate it to charities, or any other options. Moreover, knowing your timeshare contract will be able you to avoid future conflicts with your unit.

Wednesday, May 5, 2010

Smart Factors to Think of When You Buy a Timeshare

Almost every person on this world loves to go on vacation. And of all these holidaymakers, most of them enjoy or in need saving some money. Timeshare ownership might be a great solution to this since the owner will only pay a portion or the time that he/she will be staying on that property. However, there are some factors that potential timeshare owners must consider.

First, buy where you actually want to vacation. Although it is possible to trade your week to someone else, you will almost always be trading down. Also remember that trading typically involves fees.

Another thing is buy when you actually want to vacation. For example, if you love to ski, then purchasing your vacation in the middle of August does not make much sense. You will be amazed at the off-season deals you can receive when buying a timeshare and it's just not worth it.

On the other hand, buying a vacation on the resale market might be a wise decision. Due to the current economy, many owners are eager to get out of their timeshares. As a result, the resale market is flooded with units and at low prices. Compared to buying a timeshare from the developer, you will be paying at least five times what you could pay a private seller. Timesharing is one of the top vacationing options these days but to have the right timeshare for you, be armed with the right information when buying one. The above-mentioned points can be your guide.

Tuesday, May 4, 2010

Smart Qualifications for Timeshare Tax Deductions

If you own a timeshare, you can qualify you for a number of tax deductions. You can claim deductions for real estate taxes, mortgage interest and rental expenses. Also, you can receive a considerable deduction if you want to get out of your timeshare by selling it to a charity. These deductions depends on the type of timeshare you own and what you decide to do with it.

First, you must find out the tax deductions for which your timeshare qualifies. You may be eligible for deductions on rental tax and mortgage payments. But if you rent out your timeshare to another party, you are eligible for rental-use deductions.

Also file a timeshare you do not rent out under property tax deductions. You can check this on your IRS tax returns. Try to record the local and state property taxes you pay each year for your timeshare.

You may also qualify for mortgage interest deductions. With this, you can deduct the entire amount of interest you pay on your timeshare.

If you rent out your timeshare to others, you can try filing for vacation home deductions. In this section, you can deduct costs like maintenance costs, advertising fees and rental commissions. Moreover, you may file the timeshare you donated to charity as there are also certain tax deductions on these.

Either you rent out or get rid of your timeshare by selling or donating it, there are some qualifications for its tax deductions. Before availing any of the options above, review your agreements first. However, the above-mentioned points can serve as your guide.

Transfer Smart News: Redweek Partners with Trekaroo to Give Access to Family-Friendly Timeshares and Travel Destinations

Vacation is a part of almost everyone’s lifestyle nowadays and such grows the accommodation industry. Recently, finding a budget and family-friendly lodging just got a little easier with the partnership of RedWeek.com and Trekaroo.com. The new kid-friendly timeshare resorts pages on RedWeek, the largest online timeshare marketplace, highlight resorts near top family travel destinations such as Walt Disney World in Florida, and Sea World San Diego. Also, most of these kid-friendly resorts offer amenities such as a children’s pool, play area, game room, child care, and children’s programs.

Amazing prices can be found on RedWeek.com as travelers rent directly from the timeshare owners. That means no middlemen, commissions, or finder’s fees. Many timeshare resorts also offer condo-style accommodations with multiple bedrooms, separate living and dining areas, washer and dryer, and fully equipped kitchens with everything needed to feed a hungry family. Moreover, timeshare resorts provide the same amenities that are offered at hotels including a front desk, concierge, on-site pool, and fitness center.

According to Esther Lee, CEO of Trekaroo.com, they're excited to partner with RedWeek.com and give parents access to kid-friendly accommodations coupled with good prices and activities that kids love. She added that when planning for a vacation, the average family may not know that renting a timeshare is an option. They're excited to partner with RedWeek.com and give parents access to kid-friendly accommodations coupled with good prices and activities that kids love.

Today, holidaymakers look for ways to cut on their vacation costs. While many owners try to get out of their timeshares, some even abstain from vacationing due to the costs involved in it. The recent partnership of Redweek and Trekaroo opened new doors to holidaymakers to look forward to their vacation with the budget and family-friendly resorts available.

Saturday, May 1, 2010

Transfer Smart News: Wyndham Announces to Buy New Assets

In the vacation accommodation industry, Windham Worldwide Corp. is considered a big player. It is one of the world’s largest hospitality companies, with more than 20 brands and operations in over 100 countries around the world. Recently, its unit Wyndham Vacation Resorts Asia Pacific plans to spend at least $18.5 million this year in Australia and New Zealand to buy properties and introduce its Days Inn and Super 8 brands in the region.

According to Wyndham VRAP Chief Executive Officer Barry Robinson, the company may announce an acquisition as early as next month. Wyndham club owners pay an up-front fee and annual levy for holiday credits issued each year and these will be used to buy time at any of the resorts in Wyndham’s and its affiliates’ networks. Robinson added that they have to buy assets to sustain the business and they have to buy something before the end of the year or they’ll run out of units to sell.

As the global financial crisis curbed demand for new timeshares, Wyndham VRAP with a first-quarter profit of $50 million cut about 300 jobs and shifted its focus to controlling costs rather than increasing sales. The Asia Pacific unit’s 2009 profit surged 69% to A$49 million even as sales dropped as its timeshare members continued to use the units they’d already purchased.

Meanwhile, Wyndham is now seeking to increase its customer base from the 43,000 timeshare owners in Australia and New Zealand without identifying a target. The company may have withstood the recent economic meltdown and the challenge brought by the number of owners trying to get out of their timeshares. Now, it plans to create mixed-use developments, i.e. part resort and part hotel, by seeking out distressed assets in the south Pacific region.


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