Timeshare - special schemes to buy property abroad

04.03.2011 08:55
Timeshare owner can live in an apartment just a few weeks a year.

Timeshare - is a form of ownership under which a property is leased to several persons. This scheme, launched in Europe in 1960, now popular in the resort cities of Europe, the U.S., the Caribbean and Asia. In Russia, timeshare has been known since the 1990's. However, it has not received such an extension, as in Europe, due to carelessness of some companies make big money on fraudulent transactions in the secondary sale of timeshare.

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There are different schemes timeshare. In one case, the owner has the right to use the apartment for one week every two years in another - for an entire month each year. But the most common variant, when timeshare owner can stay in the apartment only during one particular week of the year and can not change the date. Such fixed weeks are only suitable for those who leave each year in the same time. There is a so-called "floating" timeshare, when the owner can be in different years to plan vacation at different times. You only need to agree in advance the date of arrival with a management company. During the absence of the owner of apartments for rent.

Each year, offers rooms in the same hotel or different hotels, but usually within the same resort. The buyer is determined only with a specific size and type of apartments and selects the season.

The contract for timeshare ownership is a term of three years to several decades.

Timeshare weeks are divided into red (holiday season), white (off season) and blue (low season when the resort comes less than most tourists). Red Week article? Yat most expensive. Can be exchanged for the more valuable of the week for less valuable, sought the services of the exchange companies - for example, RCI (Resort Condominiums International) or II (Interval International). These organizations connect thousands of resorts around the world. But we can not exchange the week for more expensive: for example, can be exchanged for red week for white but not vice versa. Blue weeks are not subject to exchange.

In some hotels instead of weeks established a system of points. Timeshare owner receives a certificate, which indicates a certain amount of points. In this case, the length of stay in the apartments can vary from one night to 10 days. At the expense of unused days timeshare owner can accumulate points from year to year, allowing him to choose a more lucrative living conditions - for example, more spacious room or a more expensive resort. So, spacious apartments in the holiday season is often worth 500 points, and a small room in low season - 200 points.

Advantages of timeshare:


Installations designed for the timeshare, usually a studio or apartment, characterized by high levels of service.

Timeshare owner can endure weeks of his vacation in the coming years and thus prolong the use of the apartment.

The owner has the opportunity to give or sell their week.

The owner of timeshare can vary the time and duration of rest.

There are bonuses in the form of additional days.

Disadvantages:


Timeshare is quite expensive. In addition, the owner of the apartments must pay an annual tax - an average of 300-400 euros per year. For example, the Florida timeshare worth 11,700 euros gives the right to reside in the resort for one week a year in a two-bedroom apartment with two bathrooms. In this case, as the annual tax paid 450 euros.

Timeshare hard sell because of high prices.

Owner can live in apartments for a limited time - usually several weeks a year.
When the lease expires, the owner of a timeshare is not retained ownership.

In some cases, if the owner does not use the timeshare put him a week, then lose the right to use them within a year.

High risks. Owner's rights are enshrined only contract, he gets no property, and the right to use that object in time. If the management company goes bankrupt, the client will lose money.

At timeshare have much in common with shared property - a scheme in which several owners owns shares in a property.

As well as timeshare, in the case of shared ownership property can be leased during idle time, to transmit to the enjoyment of friends and relatives or inherited.

At the same time, there are differences between schemes. First, share ownership is much more expensive: as a rule, the proportion of art? Um several hundred thousand dollars, while timeshare costs an average of 10 thousand dollars. This is because the system allows timeshare usually live in the home one week a year, and the owner of the shared ownership gets the right to use real estate to a few months of the year. The difference in price is explained by the fact that the property is acquired by an equity scheme, as a rule, the elite and is located in expensive resorts.

Another important difference is that the timeshare owner does not receive ownership of the object, but only gets the opportunity to conduct a certain time at the resort. Also, over time, fractional ownership is growing in value and its share can be sold, which is difficult in the case of a timeshare.

www.zagorodna.com
Content tags: Overseas property
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