Timeshare Glossary and Terminology
The timeshare industry is more complicated than it seems. Timeshare salespeople are notorious for using complex verbiage during presentations to confuse potential buyers. This detailed timeshare glossary and terminology list will help people prepare for sales pitches.
Fixed and Floating Weeks
People should know the terms fixed and floating weeks. Under a fixed week contract, owners are required to visit the property at the same time every year. Timeshare companies present this option to folks because it guarantees usage every week of the year—the space is never empty. A floating weekly schedule offers a little more flexibility, but not much. Here, individuals can change the dates of their visits annually. However, popular weeks fill up fast, so people must act swiftly. Resorts present strange scheduling options because they’re only concerned with themselves. Professionals want the resort to be used at all times, even if it’s inconvenient for owners.
Maintenance Fees
Another term in the essential timeshare glossary is maintenance fees. Owners must pay for the upkeep of their property, even when they aren’t staying there. Salespeople place these clauses into agreements so they can get more money out of people. These expenses can get higher every year as well. Since they’re not stagnant and they’re high to begin with, folks should stay away from timeshares at all costs. The minute someone signs an agreement, they’re responsible for these costs.
Exit Company
Exit companies like Preferred Cancellation Services help people get out of their timeshare agreements. Salespeople want folks to stay under contract to get as much money as possible from them. Thus, these experts place tons of stipulations into the agreement, so people can’t leave. The only way folks can legally end these agreements is if they hire an exit company to help them do so. The team at Preferred Cancellation Services values integrity and wants to expose the manipulative tactics of those in the industry. PCS specializes in timeshare cancel services, so anyone who wants out of a desperate situation should give us a call.