What is a Timeshare and Other Timeshare Facts You Should Know

Timeshares have been around in the US for a very long time. In the US, timesharing was first introduced in 1969 on the Kauai island in Hawaii, and Florida was the first state in the United States to grant timeshare rights.

Today, transformation within the industry has made it a viable travel option supported by several well-known names in the lodging sector, including Marriott and Disney.

What is a Timeshare?

A timeshare is also known as vacation ownership. It allows a traveler to use a specific property at certain times of the year while sharing the costs with other travelers.

Most timeshares are usually modestly sized units situated in big resorts.

Things to Know Before Investing in a Timeshare

Most timeshares agreements are structured so that different owners have equal shares in the timeshare property.

1) Ongoing Fees

All timeshares come with yearly fees, also known as maintenance or homeowners association (HOA) costs.

These fees cover property management, property insurance, property taxes, landscaping and maintenance, common area and grounds, and improvement of rooms.

These expenses can typically range from $600 to $1,000 per owner, if not much higher, and often increases yearly.

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