WHAT IS TIMESHARE? BENEFITS AND RISKS WHEN INVESTING IN TIMESHARE
The concept of timeshare is popular in the world but this concept is quite new in Vietnam so need to understand to avoid confusion. There are a lot of timeshare concepts, each with different interpretations but in general and simple to understand Timeshare is the type of common property (real estate) with a certain number of days of use.
Timeshare model (source: Internet)
Definition
Timeshare is the property that is owned by many people. Timeshare is a popular vacation resort in the world. Timeshare is understood as the corporation, the investor building the resort real estate project, then sell to investors with the purchase contract with the number of days of ownership for a period of 5 years, 10 years,...
Timeshare model (source: Internet)
Features of Timeshare
Timeshare is the purchase of property in a certain period of time, subject to the terms and conditions of the deal.
Investors - Buyers will pay the money when buying Timeshare and the amount of the annual fee to the investor. And investors can use the holidays, travel or exploit profits with the rental business.
Timeshare model (source: Internet)
In addition, Timeshare also allows investors to trade between different properties around the world, provided that they only apply to projects that are registered as Timeshare (the same system or cross-link, ...).
When you do not want to own or want to exploit your business, you can sell it to others.
Notes when using Timeshare
First - Time of ownership: When a customer buys a Timeshare, it means buying the right to use an apartment for a certain period of time. Usually, a week or a few weeks are fixed during the year.
Both the investor and the investor must comply with the timescale specified in the Timeshare contract.
Second - Change Location: When buying a Timeshare, you will select the type of condominium level apartments that are divided by the owner in the Timeshare service provider. In the system, there will be apartments class A, class B, ... Each classification will have many apartments of the same level and different in position (with a view to the sea, overlooking the lake, ..) and sometimes the change of position between apartments makes the customer feel uncomfortable, inconvenient when they only prefer a certain position.
Third - Annual management fee: When you buy a Timeshare you lose a payment and you also have to pay a management fee each year, which is used to maintain the apartments to keep comfort.
Others:
AN ‘IMPOSSIBLE’ 2D MATERIAL STRONGER THAN STEEL
REPLACING SAND WITH GLASS WASTE IN CONCRETE 3D PRINTING
CERAMICS MADE OF EGGSHELLS
Vietnam’s Hospitality Real Estate – Time to rebuild
HoSkar Night - Networking Redefined
