A timeshare is a form of ownership where a property, for example, a property, can be rented by several people at once, i.e., tenants.
It is essentially the right to use a particular property once a year or more.
This system is prevalent in resorts in the United States and some Asian and European countries. For example, in Tenerife in Spain, Dubai, and the State of Israel.
Why do we need a timeshare?
For the first time, this type of real estate ownership appeared in Europe in the 60s of the last century. Due to the crisis, this form was invented when many people could not afford to buy a house or flat immediately or could not pay the loan.
With timeshare Dubai, it is possible to use the accommodation not permanently but, for example, just for a couple of weeks a couple of times a year. This is particularly suitable for people who like to be in the same place, or if they have certain feelings about a specific location, or who fell in love with the place at first sight. You might think that it sounds a lot like hotel apartments in Dubai. Still, timeshare has several advantages, about which we will talk below.
There are several of the most popular timeshare types out there.
The first type suggests that you will use the accommodation for one week twice a year. This type is also called a floating timeshare.
The second option allows you to use a flat or apartment once a year for one month. Among the options is the ability to stay for a week once a year, but that period, or rather a week, to be negotiated in advance. It is impossible to change anything further, so this method is cheaper and more common. Such a scheme is suitable, in principle, for all tourists, as a rule, we know about the holiday’s time, always in advance.
How does the timeshare work?
A timeshare is, in fact, the ownership of property, and a contract is signed with all the potential owners, which can be for a period of three to 20 years or even more. The contract is direct with the management company that owns the property.
In essence, such a scheme saves the housing maintenance costs for the entire calendar year. Since your expected residence time is in weeks, all time is divided into periods called timeshare weeks.
What are the advantages of a timeshare compared to hotels?
As a rule, a timeshare is the highest level of housing, which implies the possession of the elite apartments or studios, sometimes a townhouse. Each subsequent year, the timeshare can be increased without any change in value. The timeshare owner can pass his or her ownership on to relatives, friends, or anyone else and has the right to resell their weeks. This is impossible to do with a hotel in Dubai, so timeshare seems like an excellent option.