Difference Between Villa/Vacation Rentals and Timeshares

Consumers unfamiliar with the concept of a vacation rental may confuse it with the seemingly similar, but distinctly different, timeshare. A timeshare can still be rented as a vacation rental should an owner decide to put his owned week(s) on a vacation rental program. Many timeshare resorts offer quarter-ownership which offers the owner 13-weeks of ownership and, therefore, more weeks to offer for rental.

A timeshare is a piece of real estate—often a fully furnished condominium—that is jointly shared by multiple owners. While different types of timeshare ownerships exist, in general, each owner bears a portion of the responsibility, along with the right to a segment of time in which he or she is granted sole use of the property. Timeshare resorts allow financially qualified guests to rent and tour their unowned properties and then make those properties available to the guest for purchase. Timeshare owners can also choose to bank their week with and exchange company such as RCI, or rent the unit.

Pros and cons of vacation rentals

Vacation and villa rentals are generally appealing for many reasons, some of the foremost being cost savings, more space, and no tips or service charges that are associated with hotel rooms. Villa and vacation rentals have kitchens for cooking, living rooms for gathering together and offer the appeal of living in a real neighborhood and soaking up the rhythm of the locals. Rental properties are usually privately owned vacation properties with the facilities that owners need for their own enjoyment such as sports and beach equipment, games, DVD libraries and books, and in warmer locations a swimming pool. Hotels often enjoy the advantages of brand recognition, familiar reservation processes, and on-site staff for problem resolution. For a guest, booking a vacation rental may mean stepping out of that comfort zone in order to garner some of the advantages they offer. Perceived cons of vacation rentals can include being unfamiliar with the property, lack of on-site staff, and concerns about quality or cleanliness—however, these are most often mitigated by dealing directly with the villa or vacation rental owner, who can address such concerns and provide references.

The benefits generally outweigh the potential negatives, with many vacation rentals offering more space (multiple bedrooms and bathrooms, separate living areas), more amenities (fully equipped kitchens, fireplaces, private hot tubs), convenient locations (on the beach, ski-in/ski-out, city centers in real neighborhoods) and greater privacy than a hotel, including the fact that many villa/vacation rentals give travelers the option of inhabiting real neighborhoods in their destination and living like the locals. As of 2006, vacation rental management has become a $10 billion industry and continues to become more popular.

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