How Do Condo Ownership Timeshares Work?
- Timeshares are based on a points system. These points usually recycle every two years. The amount of points varies from one company to the other but they are usually in the range of 77,000 per year. These points are worth a certain amount of vacation time.
- Different times of year will have different point values. For example, if a timeshare is being used during what is called "peak season," then it will take up more points to stay there. This often occurs in resort towns like Colorado Springs in the winter and Daytona Beach in the summer.
- Extra points can also be purchased to get either more vacation time or to upgrade a room. The points system is also based on the type of room that is being used. For example, a single bedroom studio will take up far less points than a presidential suite with all the trimmings.
- Another aspect of timeshares is the fact that they can be used in more than one location. Usually a company will have a main location where it was bought; Atlantic City for example. But they also have a chain of locations all over the United States. Any one of these can be used. They just need to be notified ahead of time to find out the availability of the dates requested.