ICM Travel – Timeshare F.A.Q.s
|Q. What is a Timeshare?
A. Timeshare is people sharing the cost of owning a vacation home. If you purchased a separate year-round vacation home, you would need to furnish, maintain, paint, repair, clean, pay for electric, water, sewage, telephone, and garbage removal. As you know, this can be very expensive and takes a lot of work! However with all of us vacationers together we are able to pay for a property management company to maintain everything for a one-time purchase price and an annual maintenance and tax fee. This makes life easier and it is cheaper in the long run. Even if you do not want to go to the same resort every year, you can exchange through your exchange house to go anywhere in the world! Timeshares are loaded with luxuries and are sold as one, two and three bedroom furnished units. Some of the luxuries that are included can be: fully equipped kitchens, laundry facilities, color TV, DVD’s, air conditioning, Jacuzzis, swimming pools, recreation rooms, and much, much more depending on the location of the resort!Q. What is the difference between fixed, floating and flex weeks?
A. Fixed Weeks will always be identified by a number, corresponding to the week of the year. For example, the first week of January is Week 1, and the last week of December is Week 52. Most fixed weeks begin on Friday, Saturday or Sunday. When you have a fixed week you can only stay at the resort during your assigned week, year after year. Floating Weeks require you to contact the resort to designate your desired week. You can make a reservation for any time during the calendar year based on a resort’s availability. There are always black out dates for events and other levels of membership, so it is crucial to call early. Flex Weeks require you to make a reservation to an assigned season. Flex time may be labeled by season or color; winter flex, summer flex, red, white, blue, etc. The terminology will always vary between different vacation resort companies.Q. What are Points?
A. Points are units of measurement used to establish the value of seasons, sizes of suites, and resort locations. Primarily multi-destination resorts such as Wyndham, Bluegreen and Monarch use points. Multi-destination point programs offer the owner a variety of resorts to choose from as well as flexible use options.
Q. What is an Exchange Company?
Q. What is a Banked Week?
Q. What is the difference between a Five-Star resort and a Gold Crown resort?
Q. What is a Maintenance fee?
Q. What does RTU mean?
Q. How is pricing determined for timeshare resort properties and timeshare resales?
Q. The resort charges a lot more than the resale market. Why is that?
Q. What are Biannual and Biennial Properties?
Q. Is financing available on the timeshare resale market?