The Space-Age Language of Timeshares and Timesharing
Monday, August 13, 2007
Timeshares are a blended industry that has brought together concepts from the hotel and hospitality industries as well as principles from the real estate profession. As a result, the timeshare industry uses language from these professions, but has also developed an industry specific vocabulary all its own.
When you want to rent or buy timeshare or just make the most of a timeshare you already own, you’ll find that it is easier if you understand the timeshare industry language and learn to “talk the talk”.
One of the more interesting words in the timeshare industry is, “spacebanking,” a term that seems to be used exclusively in the world of timeshares. When a timeshare owner spacebanks his or her timeshare unit or timeshare interval, he or she is simply saving the timeshare for use in the future. Generally, in order to space bank, you have to place or deposit your timeshare interval in a pool with other spacebanked timeshares. Other owners, who are looking to exchange timeshare, will be able to swap their unit or interval with the one you have spacebanked. Rarely are such exchanges direct swaps, meaning that just because someone selects the time you have banked, does not mean that you have to accept the timeshare or interval that person added to the bank.
Timeshare exchanging is one of the most attractive options to many timeshare owners. When you can’t use your timeshare, it is always nice to be able to bank it for use in the future. Another option, when your schedule makes it impossible to use and enjoy your timeshare, is to advertise it as a timeshare rental.
For more information about spacebanking your timeshare unit, contact your resort or your exchange company. To learn more about renting your timeshare, contact Sell My Timeshare NOW at 877-815-4227 or go online to the Sell My Timeshare NOW website to learn more about your options to buy, sell, or rent timeshare.