Posted in Finance, Accounting and Economics Terms, Total Reads: 452
Timeshare is an owner ship model whereby a particular property is time shared by many customers. It can be applied to many properties such as private jets, recreational vehicles, condominiums etc.
It is also known as hybrid form of ownership. It is very popular in real estate where as a property is allocated to different owners for a specified period. Time sharing allows multiple owners to buy interest in the same property. This is becoming a popular model with sky rocketing real estate prices and luxurious resorts.
There are many forms of ownership, some of them are discussed below:
Ownership rights are broken down on a weekly basis and allotted for a week(s)
Depending on the number of weeks, the floating ownership is given, which the customer can choose as per the requirement.
Rotating or flex-week ownership
Annual rotation of ownership is done in this case i.e. year after year the individual can use the property.
Major international hotels provided ownership on the basis of point system, which can be used by the customers.