Timeshare Software is a CRM solution for timeshare and vacation club business that helps manage sales, marketing, scheduling, touring and commission calculations.
Working of Timeshare Software:
The Timeshare Software offer the buyers the right to annual exclusive use of a vacation property for a defined period which is generally measured in one-week increments. It is a shared ownership model of vacation property where multiple owners can have the benefit of using a single property for a fixed period of time which could be either a week of every year or a floating week.
Timeshare software are available for various types of vacation properties such as resorts, condominiums, campgrounds and apartments. A lack of flexibility in making changes, annual maintenance fees, and difficulty reselling one are some of the drawbacks of timeshare. There are three types of system used by a Timeshare Software that include:
The buyer has the right to exclusively use the property for a specific week or weeks every year in a fixed week timeshare. The buyer can plan an annual vacation at the same time every year with this type of timeshare. However, it is difficult to change the fixed week to another period if required.
The buyer exclusive use of the property for a week or weeks during a predefined period or even throughout the year in a floating week timeshare. A floating week timeshare is more flexible than the fixed week system. However, the "floating week" may not be available during the busiest times of the year and may be required to reserve it well in advance to ensure availability.
Based on certain factors such as resort location, size of the vacation property, and time of availability, the points system uses points to represent timeshare ownership. Timeshare exchanges can be facilitated by the developers either within their own resorts or with other resorts as well by using the points.
Types of Timeshare Ownership:
Typically there are two types of Timeshare Ownership that include shared deeded ownership or shared leased ownership interest.
- Shared Deeded Ownership: Each buyer get a percentage share of the physical property, corresponding to the time period purchased in a shared deeded ownership.
- Shared Leased Ownership Interest: The buyer get to use a specific property for a fixed or floating week or weeks each year for a certain number of years in a shared leased ownership interest.
Advantages of Timeshare Software:
The advantages of Timeshare Software include:
- Timeshares is suitable for those people who prefer vacationing in a particular and predictable time every year.
- A timeshare property is significantly larger and have more features, facilitating a more comfortable stay as compared to a hotel stay.
- Most often timeshare properties have resort like amenities and services and are professionally managed.
- It avoids the hassle of booking a new vacation each year. Timeshare owners can vacation in a familiar location every year without any unpleasant surprises as most timeshares are owned by large corporations in desirable vacation locations.
Disadvantages of Timeshare Software:
The disadvantages of Timeshare Software include:
- Costs of owning a timeshare is quite high as compared to staying for a week in a comparable resort or hotel in the same location.
- There is a little or no flexibility to change a fixed week timeshare.
- A floating week has to be reserved well in advance as confirmation as it is generally based on a first-come-first-served basis. Also, there is chances of unavailability during the busiest times of the year.
- Timeshares are difficult to resale and also the resale value of a timeshare is much lower than the initial cost.