4 ms·
...well, yes. But timeshares come in two forms, sometimes called "shared leased ownership" and "shared deeded ownership". The second form is fairly widespread,
by Lazare 5y ago
...well, yes. But timeshares come in two forms, sometimes called "shared leased ownership" and "shared deeded ownership". The second form is fairly widespread, and it's exactly what you're talking about.
It's certainly true that the shared deed form has advantages (...it's also more expensive upfront, for obvious reasons), but it's not exactly novel.
> So please, less of the "this is just reinventing timeshare" It's a proven model, it works, and good luck to them.
I agree; I don't think they're reinventing anything. And it is a proven model...but I'd still call it a timeshare.
- JAlexoid 5y agoYou're missing the reason why they don't want to be called timeshare. Because some locality decided that shared ownership is not allowed in their locality. (I guess no one told them that every married couple co-owns any house they buy) Which is classic NIMBYism
- vkou 5y agoI hate NIMBY attitudes as much as the next person, but there's a distinction between a house being owned by two people, and a hotel. Just because I can't tell you exactly where the line is crossed from one to the other[1], doesn't mean a line isn't crossed. [1] Just like nobody can tell you where a person goes from being a child to an adult responsible for their own decisions, but we draw arbitrary lines at 16, 18, 19, 21...
- Lazare 5y agoAlso, timeshares have a terrible terrible reputation. Hence the drive to try and rebrand as "fractional ownership" or whatever. It's quite amusing to check out the wikipedia page on timeshares (https://en.wikipedia.org/wiki/Timeshare https://en.wikipedia.org/wiki/Timeshare), which goes into detail on the differences between timeshares which offer deeded ownership versus a contract giving you the right to use the underlying property. But if you go to the fractional ownership page (https://en.wikipedia.org/wiki/Fractional_ownership https://en.wikipedia.org/wiki/Fractional_ownership) it spends ages going on smugly about how actually timeshares are strictly the contract type, and what sets fractional ownership apart is that you actually have a deed, and even claims that the popularity of the (cool and amazing) fractional ownership model is causing timeshares to try and rebrand themselves as fractional ownership. But the only citation is offers for that is a link back to the timeshare wikipedia page, which outrights contradicts that. Then it goes on to describe "private residence clubs" as a time of "fractional ownership" where in some cases you don't get a deed at all (directly contradicting the immediately previous section). Apparently the distinction is that if it sells for over $1k/square foot, it's a "private residence club" and thus fractional ownership and (nominally) "good", but if it's cheaper than that it's just a "destination club" and thus a timeshare and thus (nominally) "bad". And the only citation given for this is...a single timeshare consultant. One of these pages is decent; the other seems to have been written by the timeshare industry for marketing purposes. :)