Built within the RCI exchange program is the option for timeshare owners to purchase cancellation insurance in the event that the owner needs to cancel the reservation prior to the stay or the vacation reservation is canceled by RCI prior to the stay (i.e. natural disaster, construction, etc.). RCI’s term for this insurance is Vacation Protection. Vacation Protection is different for points and weeks members, and the differences are discussed below.
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Founded in 1974, RCI has been a pioneer of the concept of timeshare exchange vacations. RCI has more than three million members worldwide, who enjoy vacations at RCI’s over 3,700 affiliated resorts. R.C.I. time share owners and resorts are a unique community of travel enthusiasts that value timesharing as a great way to get their money’s worth while traveling. RCI members benefit from the knowledge, experience and resources of RCI’s Guides, who provide assistance in the planning of exchange vacations. RCI provides the opportunity for exchange vacations, which allow members to discover new places and enjoy the freedom of resort vacationing all over the world. RCI is considered within the timeshare industry as the global leader in vacation exchange.
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Timeshare ownership requires that yearly maintenance fees be paid by the owners to assure that the resort is kept up to date and well maintained. These fees cover the cost of running the resort, landscaping, physical property maintenance, insurance, utilities, and replacement of fixtures, furniture and appliances. Maintenance fees also cover the costs of special events and entertainment offered by the resort, as well as offsetting the cost of reduced airfare, car rentals and event tickets. How much you will be held responsible for when calculating yearly maintenance fees depends on what type of time share you own.
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If you attend a timeshare presentation at the Grandview at Las Vegas resort, and decide to purchase a timeshare, your price will be different depending on what stage of the sales pitch you ultimately gave in. If you decided to buy while you were still with the initial salesperson, you can expect to pay anywhere between $10-$30,000, depending on the size of the room, years you have the right to use (whether it is every year, every other, every third, etc.), and depending on your negotiation skills. If you held out until you were passed off to another, upper-level salesperson, you can probably get a timeshare for $5-$10,000, again depending on the room size and if you have the right to use the timeshare each year. And finally, if you are able to hold out until the last person, the one who is supposed to give you your show tickets/check and send you on your merry way, you may be able to get out of there with a timeshare for under $7,000. Is it worth it?
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Many timeshare owners and potential buyers are given misinformation regarding what exactly a timeshare exchange company does for its members, and the benefits of taking part in a traditional exchange program. For example, did you know that as a timeshare owner you have the right to go with any exchange company that deals with your resort? Did you know that there are many small exchange companies out there offering no enrollment dues or exchange fees? I have spoken with many timeshare owners that believed because they signed up for a Resort Condominiums International membership when they first purchased your timeshare, that they needed to conduct all of their future trades through RCI. While I am sure it is lucrative for RCI to convince its members that they need to continue to renew their membership with them, it simply is not true. It is time to separate the facts from fiction and find out the truth about timeshare exchange companies.
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