Many people have so many questions concerning the buying of timeshare resale or even how timeshares work. Before you purchase a timeshare through a timeshare resale company or timeshare brokers, you have to ensure all the questions you have are answered. When you buy your timeshare using a broker like Timeshare Finance Claims, you get to benefit from the experience and knowledge of a licensed timeshare professional. Also, you become sure that you have a team that can answer any questions that you have in mind about timeshare and their resale. This is because we are always there for our customers.
When you buy a timeshare, you get the right to a vacation property for a week every year but only at a specific timeshare property. There are different types of timeshare use periods that you get to select from. Most people select the floating week timeshares, but other periods include fixed weeks and flex time.
What is a floating week?
A floating week is a timeshare that allows the owner the timeshare a range of weeks to select from every year. When it comes to the floating week, the period the owner uses is determined by the season since the owner’s week usage is not fixed. Most of the resorts in different vacation destinations have three different seasons: high, low, and medium seasons. Three different colors represent the seasons. As the timeshare owner, you get to select the week usage or season that is best for you.
Types of floating week timeshares
Floating week can be classified into two main types that include;
– Floating weeks based on a fixed rotation
– Floating weeks based on ownership rotation
Floating weeks based on a fixed rotation
This is a floating week timeshare ownership where specific weeks are meant to rotate among the timeshare owners every year on a fixed schedule. This type of floating week is mainly common among fractional ownership interests or private residence resorts.
Floating week based on ownership rotation
When it comes to the floating week based on ownership rotation where the timeshare owner is required to purchase a week or weeks and work out the time that is appropriate for them to attend the vacation; the time that one selects to attend their vacation must be in favor of all the other owners. This means that every owner gets the chance to decide on the week or weeks favorable for them despite the season, but the weeks must rotate every year.
How does the floating week timeshare work?
When the maintenance fees are paid, the resorts accept the requests for the specific weeks immediately. The earlier you pay the maintenance fee, the earlier you get the chance to select the week that you would like to use your timeshare.
It is your responsibility as the owner to reserve the week or weeks before you visit the vacation destination. You have to do it in time to ensure that you reserve weeks in your range that no one else has reserved. Although you are guaranteed a week annually, you do not get the guarantee of the week you select if you do not plan and pay in time.
A good number of people select the floating week timeshare due to several reasons that include;
– It offers flexibility to many people.
– Owners can also swap their units for another at a different location than the resort owns.
– It also provides the owners with exclusive use of the vacation property for a week or even weeks.