? Benefits of a Timeshare beyond your week

Discussion in 'Timeshares' started by TravelKane, Dec 28, 2014.  |  Print Topic

  1. TravelKane

    TravelKane Silver Member

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    I don't own a Timeshare. Don't think I ever will due to the fees.
    I live on the road full-time and therefore always looking for stay deals. Just started looking into how to utilize timeshares.
    My parents own a Timeshare that they use. I logged onto their RCI account and booked a "Last Minute Deal". One week in Malta for $244 (plus $59 to be added as a guest if you are not on the deed).
    [I am being added to the deed (for estate planning purpose). They will still pay the fees as they still use their week and I'll be able to use all other benefits]

    $244/wk works for me and I plan on using many more of those.
    Here is my question:

    For Timeshare Owners/Users; beyond your week & exchange, what other benefits/uses come with your timeshare?
     
    Gargoyle likes this.
  2. swazzie

    swazzie Silver Member

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    For one of mine (a week 52 at a 4-season resort), it comes with week 53 for a small fee whenever it exists (every several years). I can also rent the unit for more than the maintenance fee on years that I don't use it, which almost covers the maintenance fee costs of my other timeshares.

    None of mine include day use of the timeshare facilities outside of the week of use, but some timeshares out there come with that benefit.
     
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  3. Tweedy

    Tweedy Silver Member

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    Not many perks besides the ones you pointed out. Our timeshare has worked well for our family because we like the extra space it gives us. We use our timeshare every year and don't trade it. We wanted to be assured a two bedroom apartment on the week we wanted it...trading or renting from someone else you are not guaranteed the week you want.
     
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  4. jimster

    jimster Silver Member

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    Why are you being added to the deed for estate planning purposes??? Unless you are talking about a t/s of the highest quality, most people would want to NOT receive the property. The truth is they are an economic disaster. Beyond the value you derive from staying at your own unit, they have almost no market value. Once you get the t/s you will have it for a long long long time and for lots and lots and lots of MF.

    Go on Ebay, use the keyword "timeshare" and see if you can't buy the same t/s for $1.00. Also the last place i'd go to trade the property would be RCI- they have more fees than I can count.

    PS. I am a t/s owner and an attorney.
     
    Last edited: Jan 17, 2015
  5. TravelKane

    TravelKane Silver Member

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    All good points which I am well aware of.
    I will be able to use the benefits without the maint costs.
    As I am currently staying in my first RCI "Last Minute Deals" I am finding out about those extra fees. Maybe not such a great strategy, we'll see.
    Down the road when I end up inheriting this thing, from my past Real Estate Investing background, I know how to get rid of it.
     
  6. MildSoft05

    MildSoft05 Member

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    Hi, I guess, there are benefits but I don't rely on one. Fees are high too so I personally just find and go for deals and take advantage of it.
     

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