Q: What Are Timeshare Use Periods?
A: There are four common ways that timeshares are used:
Fixed Week - Buying a fixed week timeshare allows you the use of the unit for that specific week each year for as long as you own the property. Fixed weeks generally commence on a Friday, Saturday, or Sunday.
Float Week - Buying a float week timeshare allows you to use the unit anytime during the year based upon a resort's availability.
Flex Time - Similar to a floating week, but with restrictions. Flex time refers to a season -- winter flex or spring flex, for example -- or a time frame such blue time frames and white time frames, industry "lingo" that defines certain periods during the year. High and low seasons vary from resort to resort, so flex time may be defined differently at different locations.
Biennial- - Biennial timeshare ownership allows the timeshare buyer use of the resort every other year for a fixed week, float week or flex time.
Q: What is the difference between a Premier Resort and a Gold Crown Resort?
A: Different ratings are given by different timeshare exchange companies. A Premier Resort is the most desirable rating appointed to a resort in the Interval International system while a Gold Crown Resort is the most desirable rating in the Resort Condominium International system.
Q: How long do I get to stay at a resort if I purchase a timeshare?
A: Usually one week, 7 nights.
Q: Can I use the resort at other times in addition to my week?
A: Yes. Most resorts offer additional time to owners at a reduced rate and is known as bonus time.
Q: What does lockout mean?
A: A timeshare that is divided into two separate living spaces with two separate entrances. A lockout will usually exchange one week for two weeks in a smaller unit.
Q: What is a banked week?
A: A week of timeshare deposited in one of the many exchange companies to be saved or banked for use at a later time.
Q: What is red, white, yellow, and blue-green time?
A: A color system used for rating the desirability of a timeshare week, Red is considered the most desirable followed by white and yellow, Blue and green are considered off season.