Tweet
With all the crap from exchange companies, points conversions, developer upgrades, assessments, trading power, rentals, etc. that come the way of timeshare owners, at least most don't have the following to be concerned about.
I'm not 100% (more like 99%) certain about the numbers, but it really doesn't matter.
A resort I have knowledge of has full ownership and interval ownership. the interval ownership is divided into fractionals (1/4s and 1/8s) and timeshare (1 week). There are 252 full ownership units and 87 fractionals, with only 16 being timeshares.
At the recent annual meeting it was revealed that one owner of full-ownership units owned approximately 20% of them. Checking into it, I found one owner owns 47 units and another owner owns 12. It could be that that is husband and wife, totalling 59, or it could be two separate owners altogether.
This major owner and his wife live in the resort and have been active in upgrading and improving it.
What makes it interesting is that it was revealed at the annual meeting that this major owner prefers to make a profit from selling individual units and/or by converting them to timeshares.
Whoa, Nellie!!! There are only 16 timeshare units in the entire resort, and this owner is converting as many as 47 (or 59) to timeshare!
Think about the ramifications of that for awhile.
Oh yeah, I see I didn't mention that the major owner has had a timeshare developer come in to take a look, with the intent being to buy him out and start selling timeshares. This is a resort that was turned over to the association in 1987, with no developer involvement since then!
I'm not 100% (more like 99%) certain about the numbers, but it really doesn't matter.
A resort I have knowledge of has full ownership and interval ownership. the interval ownership is divided into fractionals (1/4s and 1/8s) and timeshare (1 week). There are 252 full ownership units and 87 fractionals, with only 16 being timeshares.
At the recent annual meeting it was revealed that one owner of full-ownership units owned approximately 20% of them. Checking into it, I found one owner owns 47 units and another owner owns 12. It could be that that is husband and wife, totalling 59, or it could be two separate owners altogether.
This major owner and his wife live in the resort and have been active in upgrading and improving it.
What makes it interesting is that it was revealed at the annual meeting that this major owner prefers to make a profit from selling individual units and/or by converting them to timeshares.
Whoa, Nellie!!! There are only 16 timeshare units in the entire resort, and this owner is converting as many as 47 (or 59) to timeshare!
Think about the ramifications of that for awhile.
Oh yeah, I see I didn't mention that the major owner has had a timeshare developer come in to take a look, with the intent being to buy him out and start selling timeshares. This is a resort that was turned over to the association in 1987, with no developer involvement since then!