• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

A New Model of vacation ownership ?

GTStone

TUG Member
Joined
May 27, 2010
Messages
79
Reaction score
4
Points
218
Location
California
With all the economic issues, problems facing timeshares regarding the unpaid maintenance fees, etc., how about exploring some new ideas companies could use to provide vacation ownerships ?

I'd love to see some of the ideas you can come up with that works for the developer ( they have to cover the cost of construction ), the HOA must have sufficient funds to properly run/maintain the facility, and the "owner".

Would you share some of your ideas ?
 

am1

TUG Member
Joined
Dec 3, 2009
Messages
8,081
Reaction score
1,531
Points
448
I think fractional in some areas.

The deed would hold more value.
Along with that there is less transfer costs per week owned.

Fees could be less per week as "less" different people would be staying in the units.
Owners get high demand and low demand weeks.
A larger purchase so less people buy at a 2 hour sales presentation.
People with higher incomes are more likely to purchase.
Reputable Real Estate agents are able to get involved in the resale market
People are more to an interest in the management.
People are more likely to buy close to home or in select other areas. Florida, NYC and Hawaii.

A condo in Panama City Beach. Canadian snowbirds November to March. Possible March and April rent by the week to people in spring break. Someone buys may. June - August is purchased by someone in Alabama or Georgia who wants a weekend place. September and October is for someone else.

I think even better would be a timeshare points system but with underlying weeks owned. Say 5 consecutive weeks in the same unit or same amount of points. That way people have a deed of value but also flexibility to go elsewhere.

I am sure there is a list just as long as reasons why either of these do not work.
 

ronparise

TUG Member
Joined
Feb 10, 2011
Messages
12,664
Reaction score
2,134
Points
548
Using the co-op form of real estate ownership (common in New York)

Form a co-op company to own real estate. Sell shares in that company. Share price is determined by the value of the underlying real estate.
A share owner has the right to occupy a unit or units for a period of time, I see this like a points system, where more points (shares) gets you better time, or more time.
The expenses of running the coop are shared according to the number of shares (or points) you own
The company will buy back your shares after 5 years at 75% of the current value

There is no need to reinvent the wheel. Hapimag has been doing this for a long time
 
Last edited:

the_truth

newbie
Joined
Jan 13, 2012
Messages
13
Reaction score
0
Points
0
the truth is......Wyndham seems to design new memberships only to have problems down the road that require a purchase of more points or an upgrade to fix. That's definately not the answer. A vacation club model seems to be the future for the industry or something along the lines of WorldMark without Wyndham being the parent and a buy back program.

If that is the case for some buyers, then look at Wyndham Club Access or other Vacation Club models.
 

the_truth

newbie
Joined
Jan 13, 2012
Messages
13
Reaction score
0
Points
0
Just my .02 cents that it appears that the Deed is what locks people into these things and makes it difficult to sell. Seems like most of the frustration with timeshare owners stems from the resale market, maintainence fees and availiablility.

If there was no deed, then when it came time to no longer own it anymore, it would be easier to sell or transfer. No worrying about a closing or recording at the county level.

Maybe something along the lines of the Mexico timeshares is the answer - 20 year contract sold at a lower buy in price and if you wanted your kid's to inherit it, it could be willable or tranferrable? How about no maintainence fees, just pay as you go. And lastly, put the owners who have paid good money to be in the new model vacation club at the front of the line to get good reservations and top priority. Plus a family plan.


Sorry, but this response left me hanging. Could you share what you mean ? Thanks.
 

JohnPaul

TUG Review Crew: Elite
TUG Member
Joined
Apr 28, 2011
Messages
1,649
Reaction score
845
Points
323
Location
Sacramento, CA
Resorts Owned
Vacation Internationale, HGVC - NYC, Worldmark, Shell Vacations, Sedona Pines, RCI Points, Starwood (Avon, CO)
Maybe something along the lines of the Mexico timeshares is the answer - 20 year contract sold at a lower buy in price and if you wanted your kid's to inherit it, it could be willable or tranferrable? QUOTE]

Vacation Internationale (VI) was started on this basis. People bought 25 - 40 years in the system. That was forever away when they started but now units are starting to fall out of the program. They have been working hard to move to a perpetual model. Without perpetual, as membership in the program dwindles the overhead doesn't decrease at an equal rate and it becomes untenable.
 
Top