Fractional Ownership on the Rise for Many Reasons
Fractional Properties While timeshare properties have been popular for a number of years, a different yet similar choice is now starting to grow as a top option for those interested in these types of vacations. Fractional property ownership is on the rise, and it is able to offer quite a few benefits. Although it can […]
Why a Timeshare in Hawaii is a Great Option
Having Fun Vacations in Hawaii When you are thinking about going on a vacation, what is the first thing that pops into your head? If you are like many people, images of palm trees swaying in the warm breeze, gorgeous azure waters, and beautiful beaches probably swim before your mind’s eye. Hawaii is one of […]
How To benefit From Frequently Visited Timeshare Properties
Integrating Into Your Vacation Life
When you own a timeshare, you have the option of staying either in the same place or a different place each year. By using timeshare exchange companies, you can exchange your weeks or points for just about any location in the world. However, there are many people who enjoy going to the same location every year and timeshares are a great way of accommodating this. These people enjoy the benefits a timeshare provides them to them it’s about creating a second life in another country, with a different lifestyle, different friends and a different mentality. The beauty of it is that it can be achieved without having to give up an existing lifestyle.
Commitment to Longevity
The true beauty of a timeshare property can come out of regular annual (or perhaps more frequent) visits over a long period of time that allows a complete integration into the surrounding environment and community. By getting to know locals, making friends and creating a social life in the second home, individuals can really start to feel like the timeshare is a home away from home. This of course won’t happen overnight and a commitment will be needed to nurturing and maintaining relationships and connections. Little things like learning the local language or finding out about local history don’t take up too much time on a daily or weekly basis but can lead to big steps forward in integrating with a community. After all, being accepted as more than just a tourist is a unique part of owning a timeshare that the vast majority of holiday formats simply can’t facilitate. It is one of the reasons why timeshare owners go to so much trouble to ensure their purchase is made from a credible source, so that it would provide them with years of enjoyment.
Learn from Mistakes
Getting to know a new environment is never easy. No matter how many times a person has resettled or how many different environments have been experienced, there are some lessons that every new location holds. There is perhaps none more common than the touristy mistakes that make an individual stand out as a newcomer like a sore thumb. It doesn’t matter if this is a mispronunciation with comic implications or a brave local delicacy tasting that back fires. Every time it happens it is embarrassing, and most everyone feels about a foot tall in the aftermath.
But it is no cliché to say that these little moments truly do make the best stories in time to come and when people in the local community can laugh along with such instances it can be as much a sign of acceptance as anything else. Take any mistakes as part of the learning curve, find out from other people about their mistakes and learn from the whole mix. Don’t make the mistake of allowing a fear of rejection to prevent a community acceptance that will come over time. The only thing that can really prevent people from settling in to a timeshare location and accepting it as a second home is the decision to stop trying.
Share and Share Alike
You may make the mistake of thinking that those entering a new group or new community are the only ones who should be open to learning. Any community or group of friends that wants to accept new people will want to do so because they want to learn about and get to know these new people as much as they want you to learn and become a part of their community. There is nothing more inviting in a learning and integration experience than for everyone to be taking part in the learning and sharing experiences equally. It is a common, almost clichéd, aspect of human nature that the more others share with us, the more we are willing and open to sharing ourselves.
Stick Around
When timeshare holders make the decision and then take the steps to integrate into their holiday home community, a change in mindset happens. In choosing to be a part of the new community, the timeshare stops being simply an investment for profit and more a part of life that’s committed to for the long term.
This blog was written by our guest blogger, Evie Pearce.
If you are interested in writing a guest blog, please send an email to : webmaster@timesharebrokersales.com for consideration
About the author
Evie Pearce is a freelance writer and mother of two. After giving up her career in the hospitality and tourism industry to become a mother, she turned to writing about it instead. A keen traveler, she likes to have her dogs take her for a walk most evenings before pretending her husband is a good cook.
How to Choose a Timeshare You Will Love
Do Your Research Before Buying a Timeshare
Everyone loves the idea of going on a vacation at least once per year. However, the hassle of trying to find out just where you are going to stay, how much it is going to cost, and whether they even have rooms available is a pain. Instead of going the traditional route with their vacation, many people are using timeshares instead because of the benefits that they can offer. For example, when you have a timeshare for your vacation, you never have to worry about where you are going to be able to stay! Of course, it is important to make sure that you are choosing the right option for you and your family. Here are some of the things that you have to consider when you are getting a timeshare.
Look at the Location
Where do you want to vacation? Do you have a spot where you and the family love to visit every year? If you do, then you are going to want to make sure that you are choosing a timeshare that is in that vicinity. If you haven’t yet thought about where you like to vacation, it’s time to do that now. Whether you want to stay on the beach or in the mountains, make sure that you are choosing one that you really like! The ability to exchange your timeshare is one of the reasons that timeshares are the world’s most flexible form of vacation ownership. Timeshare exchange companies essentially allow timeshare owners to trade their time at their “home resort” for time at one of a number of affiliated resorts within a given exchange network. Read more about timeshare exchange companies.
Understand the Features and Amenities
When you are buying into a timeshare, make sure you know the amenities that come with the timeshare, and the features that it offers. Where is the unit located? Who takes care of the maintenance? Does the timeshare offer any special features such as a fitness room or a pool? If you can, visit the timeshare in person first. Otherwise, you can look at photos online and read testimonials of those who have property there.
Find a Price that Works
You need to make sure that you have a price that is going to work well for you too. Buying a timeshare is going to be far more affordable than buying a vacation home, but you do need to make sure that the money you spend on the property, and the annual fees, is worth what you receive!
Start looking for your own beautiful timeshare property today. You are going to love it!
Why is a Fractional Vacation Home a Great Option?
Benefits of Fractional Homes
Fractional ownership has been around for a number of years for a variety of different types of items, even aircraft. However, most of the time, people who are considering fractional ownership are actually looking at luxury vacation homes. Fractional ownership simply makes a lot of sense for many people today. They do not want to buy an entire home that they are only going to be able to use a few weeks out of the year. Fractional properties are simply going to be sensible for most out there today. In fact, you are going to find quite a few benefits when it comes to these types of homes.
Great Amenities with the Fractional Homes
While it is ultimately going to depend on the home that you choose, you will find that the majority of the fractional vacation homes out there today are going to have some outstanding amenities. These can vary greatly based on the property, but some might include the types of amenities that you would find at a five-star resort. They might include a spa, a clubhouse, and more. The features they offer are generally going to be ones that you would not be able to find if you simply had a vacation home that you own outright.
Often, fractional properties are going to have high quality management services as well. The hospitality companies are able to take care of all of your needs in the home so that it can meet and exceed all of your expectations.
Even the fixtures and the appliances that you find with one of these types of units will typically be of a much higher quality. They are going to be better than what most of the typical vacation rentals are going to be able to offer you.
A Good Location Where You Want to Stay
Another one of the great things about the fractional homes is that you will often be able to find them in the locations where you’ve always wanted to live or spend time. Whether you are looking for a place to enjoy the warm summer weather or you want to have a place where you are going to be able to enjoy the wintry weather and the mountains, you will be able to find it.
The Ease of Ownership
If you were to have your own vacation home, you would be the one who was responsible for all of the repairs and housekeeping. When you have a fractional home, the only thing that you have to worry about is having a good time. Imagine how nice it will be to enjoy your vacation without having any worries. All of the maintenance issues should be a part of the price and the annual fees that you are paying for the fractional.
Speaking of the price and the fees that you have to pay, you’ll find that it is going to be much more affordable to have a fractional than a second home for your vacations. Once you pay the initial price, you will only have to pay the annual fee for upkeep. This should be quite a bit more affordable. The cost of the fractional will vary, naturally, so it is always important to make sure that you research your potential vacation home completely so you know exactly what it is that you are getting.
More Time for Your Vacation
With many of the fractional properties that are out there today, you will find that you can spend more time with your property than with a typical timeshare. In fact, you could stay for longer than a month in some of the fractional homes. It all depends upon the company and the homes that are available. Again, this is something that potential buyers are going to want to consider when they are looking at the various fractionals that are on the market today.
People really do seem to love the luxury that the fractional homes are able to offer. They can take their vacation and know that everything is going to proceed just perfectly. They could be a perfect choice for you if you are looking for a luxury vacation home without buying an entire property yourself.
We are experts at this. Contact us today at 800-985-9946 for more information on Fractional Ownership.
Four Things to Know About Taxes & Timeshares
How to Deduct or Claim Timeshare Expenses on Your Annual Taxes
It’s beginning to look a lot like… taxes?! The sad truth is, tax season is here. If you’re like many timeshare owners, you’re probably wondering how to handle your timeshare come tax-time.
Whether you used, sold, donated or rented your timeshare this year; you’ll have to determine how best to account for your vacation ownership property on your tax forms. Below you’ll find a brief overview of how to claim or deduct your timeshare, based on your usage:
If You Own a Timeshare
Property Tax Deductions: If you own a timeshare that you did not rent out during the previous year, you may be eligible for property tax deductions found in Schedule A, section 164, of your IRS tax return.
If the property taxes applicable to your unit are billed separately to you (such as in California), or if your resort shows them as a separate item on your maintenance fee billing, those property taxes should be deductible. However, if you have to seek out the tax amount applicable to your unit by examining the financial statements, the taxes are likely not deductible.
Interest on Timeshare Loans: A few owners can deduct the interest expense on a timeshare loan. The interest is deductible only if the loan is secured by the timeshare as a mortgage and you deduct no other mortgage interest except on your primary home. If your timeshare loan is written as a consumer loan rather than a mortgage loan, it is not tax deductible.
If your property does qualify, you can find the mortgage deduction form in Schedule A, section 163, of your tax returns
If You Rented Your Timeshare
Rental Deductions: If you rent your timeshare, you can deduct most current expenses related to your timeshare against the rental income. File a timeshare for vacation home deductions in Section 280A of your IRS tax returns. In this section, you can deduct costs such as maintenance fees, advertising expenses and rental broker commissions.
Rental Income and/or Losses: You should list your rental income and related deductions on Schedule E. Losses from renting your timeshares will normally not be allowable as a tax deduction. Tax laws for timeshare rentals are complicated. For a more comprehensive explanation, click here.
If You Sold Your Timeshare
Any profit on the sale of your timeshare is taxable. Profit on sale is treated as capital gain, subject to favorable tax rates if owned for more than one year.
For gain purposes, your cost is generally your original cost, plus additions for the following items:
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Closing costs incurred when you purchased your timeshare.
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The portion of your annual maintenance fee (for all years owned) allocated to capital reserves or used specifically for capital improvements (such as a new roof).
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Any special assessments for capital improvement purposes which you paid. This amount should be reduced by any depreciation expenses incurred in any years you rented the timeshare.
If you sell at a loss, the loss is normally not deductible.
If You Donated Your Timeshare
If you worked with a company like Donate For a Cause, you may file a timeshare you donated to charity on Form 8283 of your returns. Be sure to obtain a copy of your receipt from your sale of the timeshare to a charity, and enclose the receipt in your tax returns. If your timeshare exceeded $5,000 in value, you must provide a written appraisal of the timeshare by an independent appraiser, in section B of Form 8283.
NOTE: donating the use of your week to charity (a rental donation versus donating your ownership of the timeshare unit) does not entitle you to a charitable tax deduction.
Don’t let your timeshare expenses sneak up on you come tax time. Hopefully you’ve kept careful records of any payments or transactions, and have itemized access to your bill. If you don’t have these records, you may be able to contact your timeshare developer directly for help.
The information above is intended to help you gain a better understanding of timeshares and tax laws. It is not intended to replace the consultation or advice of a tax professional. If you have any questions about how to claim or deduct expenses for your timeshare, please contact your CPA!
SOURCES:
http://www.tug2.net/timeshare_advice/TUG_Taxes_and_Timeshares.html
http://www.smartmoney.com/taxes/income/taxes-on-vacation-homes-9562/
http://www.redweek.com/resources/articles/tax-aspects-renting-timeshare
HGVC’s New Park City Resort – Sunrise Lodge
Just in time for ski season, Hilton Grand Vacations Club has unveiled their newest resort – Hilton Grand Vacations Club at Sunrise Lodge, located in Park City, Utah.
Timed to coincide with the Canyon’s November 23rd opening of the slopes, last month HGVC at Sunrise Lodge is nestled within Park City’s award-winning Canyons Resort.
Reminiscent of a grand European mountain retreat, HGVC at Sunrise Lodge features native mountain stonework and timber frame design. With ideal location next to the Sunrise Lift at Canyons Resort, Sunrise Lodge offers ski-in ski-out access to one of North America’s most well-renowned ski and summer resorts.
Sunrise Lodge in offers fully furnished suites ranting from studios to four-bedroom villas. Amenities include: outdoor heated pool and whirlpool spas, fitness facilities, and ideal amenities including onsite ski equipment rental, complimentary high-speed internet, as well as complimentary year-round shuttle service within Park City.
We’ve only seen a few reviews Hilton Grand Vacations Club at Sunrise Lodge. So far, they’re all great! Have you had the chance to stay at Sunrise Lodge in the Canyons Resort? Is it as lovely as it sounds?
Dreaming of Orlando for the Holidays?
There’s still time to secure an Orlando holiday rental close to all your favorite attractions.
Wyndham Bonnet Creek is located just minutes from the gates of the Walt Disney World Resort.
With our newly expanded timeshare rental program, we’ve got holiday season Orlando rentals for as low as $799!
Want to learn more about rentals at Wyndham Bonnet Creek Resort? Check out this short video, or contact us today!
Because we offer special incentives to Wyndham timeshare owners who rent their timeshare out with us, we have a deep inventory of Wyndham timeshare rentals in Orlando at Wyndham Bonnet Creek.
Don’t wait, give us a call now to secure your Wyndham Bonnet Creek rental for the Holiday season.
HGVC Buys 300 Units at Trump Towers in Las Vegas
Last month (Sept. 2012) Hilton purchased approximately 300 condominium units at the Trump International Hotel Las Vegas to be used as luxury timeshares for Hilton Grand Vacations Club members.
Trump’s majestic gold colored high-rise near the Strip has become a famous Las Vegas landmark. Now luxury-loving guests can purchase vacation ownership at Trump International Hotel Las Vegas, with occupancy starting in 2013. The 64 story property located on Fashion Show Drive near East Desert Inn Road will also be open within HGVC for in-network travel.
Timeshare suites will feature floor-to-ceiling windows offering sweeping views of the colorful Las Vegas Strip. Units also include opulent décor with luxe bedding, state of the art appliances, marble bathrooms with double sinks and large whirlpool tubs, and flat-screen TVs as part of their luxurious décor.
Onsite amenities include an award winning day spa, outdoor heated pool and sundeck, fitness center and salon, and a full service business center.
Donald J. Trump, Chairman and President of the Trump Organization, says of the sale,”When it comes to vacation ownership in Las Vegas, Hilton truly does an outstanding job. We are confident that this relationship will not only add to the tremendous appeal of Trump Las Vegas but also will provide great benefit to our existing owners. The property continues to garner incredible accolades and is one of the most sought after in all of Las Vegas.”
The McLean, Va.-based hotel chain will be responsible for selling the timeshare intervals, but the Trump Organization, which is based in New York, will still manage the building.
In a prepared statement, Hilton Grand Vacations President Mark Wang said the venture would “yield a remarkable new ownership opportunity at one of the most celebrated properties in Las Vegas.”
For more information about Hilton timeshares in Las Vegas, or to learn about Hilton timeshare resales, please feel free to contact us today!
We’ve Expanded our Timeshare Rental Program
We’re excited to announce that Timeshare Broker Sales is dramatically expanding our timeshare rental program.
With new industry partnerships and specially designed rental packages we now have the ability to facilitate vacation property rentals like never before.
We’ve recently gained access to thousands of exclusive rental properties in some of the world’s most popular vacation destinations. We’ve also created a special rental program Wyndham timeshare owners.
Ask About our Wyndham Timeshare Rental Program
If you own a high-point (500,000+) Wyndham timeshare plan that you’re looking to rent out, give us a call toll free at (800) 985-9946 today to learn about how we can help drastically offset or cover your maintenance fees.
We’ve tailored this special rental program to help you get the absolute most out of your vacation ownership package on the rental market, while still making your rental attractive to prospective renters. With our new program, we’ve even helped owners cover their maintenance costs and still have points left over!
Rent a Timeshare in Your Favorite Spots
If you’re looking to rent a timeshare, we’ve got thousand of properties available in beloved vacation destinations like Orlando, Hawaii, Las Vegas, The Caribbean, and more.
Whether you’re looking for a rental spacious enough to accommodate all the cousins, or you’re planning a golf-getaway with the guys; we’ve got a timeshare rental to suit your needs.
Why Rent Timeshare With Us?
The logistics of facilitating a rental can be tricky if you don’t know the ropes. Why not let us do the legwork?Our licensed and BBB accredited timeshare brokers are specialists in vacation property rentals; and our rental programs benefit both owners and renters. Contact us today.