Ever feel like timeshare resellers or resort staff are speaking a different language? Our glossary helps you decode the “lingo” of the trade, giving you the knowledge and confidence you need when navigating the timeshare market.
A
Accelerated Use: Use more time in fewer years within a right-to-use program.
Affiliated Resort: A resort in a larger network or exchange system.
Amenities: Features like pools, spas, golf, etc., that add value to a resort.
Annual Usage: Ownership that provides usage every year.
ARDA: Industry association with a code of ethics.
B
Banking: Save your week or points for later use.
Biennial Usage: Ownership that provides usage every other year.
Bonus Week: Extra vacation time beyond your regular ownership.
Borrowing: Use future weeks or points early.
C
Closing Costs: Fees to finalize a sale or purchase.
Club/Trust Membership: Ownership model where usage is licensed via a club or trustee.
D
Deeded Ownership: You legally own the property.
Developer’s Price: Full retail price including marketing costs
E
EOY (Every Other Year): Biennial usage.
Escrow: Holds funds securely during the sale.
Exchange Company: Lets you trade your timeshare for stays at other resort
Exchange: Trading your week for another at a different resort.
F
Fixed Week: A specific week reserved for you each year.
Floating Week: A flexible week you can book within a date range.
G
Guest Certificate: Let someone else use your reservation.
H
Home Resort: Your main resort with priority booking.
I
Interval International: Major company that helps you exchange your timeshare.
L
Lock-Off Unit: A unit that can be split into two separate spaces.
M
Maintenance Fees: Annual fees for resort upkeep.
P
Points System: Use points to book vacations instead of fixed weeks.
R
RCI: Major company that helps you exchange your timeshare.
Resale: Buying or selling from an existing owner, not the developer.
Rescission Period: Timeframe to cancel a new purchase.
Right of First Refusal (ROFR): Developer can match a resale offer before it goes to a buyer.
Right to Use: You can use the property for a set time, but don’t own it.
S
Season: Time periods (high, mid, low) that affect availability.
Special Assessment: Extra fees for repairs or upgrades.
Split Week: Divide your week into separate stays.
T
Title Company: Handles legal transfer of ownership.
U
Upgrade: Increase your ownership level or switch programs.
Usage Year: The year you can use your timeshare.