Timeshares are a way of “owning” a piece of property in conjunction with other people.  The way it works is that you pay an outright fee for the right to use a piece of property for a specific period of time in a year.  For the rest of the year, other people will be owning that property.  A timeshare can either be deeded or right to own.  For the deeded timeshare, you actually get the right to call the property your own – much like buying a house – for the specified period within the year.  For the right to own timeshare, you basically lease it and do not hold the deed to the property.  It still belongs to the developer.

Your specific responsibilities as a timeshare owner would depend on the type of timeshare that you purchase.  If you have a deeded timeshare, you are basically responsible for the property during your period of use.  However, depending on the arrangement, you can leave everything to the real estate developer.  Your share would be to pay the fees for the upkeep and maintenance.  More so, insurance can cover other damages.

The more popular type of timeshares today is the right to use one.  Usually, people buy timeshares at big vacation hotels and resorts.  They pay outright fees on purchase.  On top of these, they have to pay maintenance fees every year.  Though maintenance fees are often the source of negative publicity for timeshares, they do have their purpose.  Maintenance fees cover all the costs for upkeep and insurance.  As such, you as the timeshare owner will not be held responsible for the cleaning costs, security costs, and other operational costs within the year.  Your maintenance fees are supposed to take care of that.

For example, your unit will have furniture and plumbing and all that is necessary for a unit.  Furniture, along with the whole unit, needs regular cleaning and repair.  You are not physically responsible for this as a timeshare owner.  The developers are the ones who are responsible for this and the money that you pay as a timeshare owner is what is used for these activities.  If damages are sustained due to whatever reason, the insurance – paid with your maintenance fees – is supposed to take care of this.

Of course, common sense tells you that when you are using your timeshare property, you would have to behave like a responsible homeowner.  Despite the fact that you do not really own the place, you still have the responsibility to keep it clean and in good condition.

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