subject: Timeshare Exchange Information: The Facts You Need To Know [print this page] Timeshare Exchange Information: The Facts You Need To Know
If you want to own a timeshare property, one of your best benefits is a timeshare exchange. This gives an owner the opportunity to be more flexible with their week and trade it for something else. This is one of the best benefits available today and lets you choose between different locations every single year. A long time ago you weren't able to do anything like this, but thanks to the industry evolving you're able to have all kinds of extra benefits. You can get this service for free the first year around, but after that you're looking at about a hundred bucks a year.
Being able to vacation anytime a year is absolutely wonderful. So if you purchase a week that initially has you going to Myrtle Beach every year, it can now be traded so you can enjoy various other parts of the country, or world for that matter. Everything revolves around you and when you trade your unit for a different resort, another owner will want to exchange. Just remember that they have to be similar in trade or it won't work (in most cases anyways). So if you have a 1 bedroom, you can't trade for a two bedroom. However, downgrading is possible.
There are two main timeshare exchange services. You can choose between Interval International and RCI. Even though this is normal, we still recommend doing your homework. Providing you and your family with good research will make you feel much more comfortable when it's all said and done. Unfortunately though, the timeshare industry isn't fully protected so please be aware of scammers and frauds.
To conduct a timeshare exchange, the owner usually deposits his/her timeshare unit into the inventory of the timeshare company's available weeks. It is not a simple transaction. If the week requested by an owner is in the inventory and the week offered by the owner is a good exchangeable week then the exchange takes place. It does not mean that the owner has to wait until the time the exchange company finds an exchange offer for your timeshare. They already decide it after reviewing the timeshare like what season timeshare it is? What location? Those who have timeshares in peak season have more chances of finding a timeshare and they can request exchange both in peak time and off peak time periods.
Most of the individuals who have off peak timeshares end up getting off peak exchanges. This is because their chances of getting a peak timeshare is just about zero. Then again, it does vary from one resort to another. Unfortunately there are some resorts that are busy all year round. However, owners of these resorts normally don't have any issues getting what they want through their exchange.
If a person cannot find an exchange the exchange company puts you in the waiting list and contacts you whenever an exchange is available and gives you the exchange unit. The owner can also chose in the beginning of the exchange request whether to approve the exchange confirmation at the approval of the owner at least a week before the confirmation or to go ahead and confirm the exchange without the approval. Again keep in mind good planning is necessary to initiate an exchange. If you decide to exchange a timeshare in the last minute, it may not be possible. You will need to have the planning mindset of 6-12 months out when considering doing an exchange.
