Tuesday, April 19, 2005

Timeshare Facts Quick Quiz

Q - Which timeshare exchange company is larger, RCI or I.I?
A - RCI

Q - Where is RCI located?
A - Offices are worldwide, but RCI is headquartered in Indianapolis, IN

Q - Where is I.I. located?
A - Offices are worldwide, but I.I. is headquartered in Miami, FL

Q - Are most timeshares deeded properties?
A - In the United States, yes. In the rest of the world, no.

Q - If I want to use an exchange company to trade my week for somewhere else, does the exchange company have to first find someone to use my week?
A - No. Your week may never be occupied. But in most cases it will be.

Q - What is the name for a non-deeded timeshare property?
A - Right-to-Use. Also known as a lease.

Q - What is the major ongoing cost of a timeshare once the loan is paid off?
A - The annual maintenance fee, also known as the HOA fee (Homeowner's association Fee)

Q - What is the main reason people buy a timeshare?
A - The annual carrying costs for maintenance and exchange company fees, are far less than the cost of renting a comparable accommodation.

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