101 - Let's cover the basics.

 

1. What do I own?
2. What are resort dues and maintainince fees?
3. Who, What, Where is RCI & II?
4. Do I have to be a member of RCI to trade my timeshare?
5. What does spacebank mean?
6. Does someone have to use my week first before I can request a trade?
7. What is red, white, and blue time?
8. What does Gold Crown, RID, and Standard mean?
9. Are there fees involved for trading?
10. Do I have to own a Gold Crown to trade for a Gold Crown?
11. Do I have to trade for the same week, season or unit size?
12. What is trading power?
13. Are online trades creditable?
14. What is the best timeshare trade combination?

Cartoons:

Watchout for Timeshare Share Sharks !

Wild Dogs in Cabo San Lucas

 

!! RCI Tutorial on the New

Weeks Trading Power Unit) System

 

Recent Articles Published by Scott Riddle

 

For a printer friendly version of this lesson, click here.  To go to 201, click here.


1. What do I own?

A timeshare by definition is a 1/51 factional undivided interest in a condominium, if deeded, an interest in the common grounds. Generally a studio, 1, 2, or 3 bedroom unit. In short you own a week in a condo somewhere.

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2. What are resort dues and maintainince fees?

Resort dues or maintaince fees are the timeshare owners cost associated with owning the timeshare. The fees are used for the cost of grounds upkeep, maid service, insurance, the general fund and the reserve fund. The reserve fund is a fund that is designed to replace necessary items, (hide-a-beds, refrigerators, carpet as well as repainting the building and replacement the roof, ETC). This should be an interest bearing account controlled by the home owner association. If you resort dues are more than $300.00 a year you should consider contacting our sales department.

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3. Who, What, Where is RCI & II?

RCI (Resort Condominium International) is the world’s largest exchange company. With over 5700 affiliated resorts worldwide, RCI arranges for you to exchange your timeshare unit with someone else’s timeshare unit. RCI is a worldwide company, owned by the Cedant Corp. and has offices with telephone counselors located in the US, Canada, Mexico and Ireland, accessible for their US and Canadian members. Their home offices are located in Indianapolis, Indiana.

Trading online is offered by RCI as well as the exchanges by phone.

Interval International is another exchange company. Here at Trading Time we are strictly RCI orientated.

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4. Do I have to be a member of RCI to trade my timeshare?

Yes, RCI requires that all RCI online traders be current members with RCI. It is also required that your RCI membership dues be paid out as far as your travel request.

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5. What does spacebank mean?

A Spacebank Deposit is the term RCI gives to their members when the member has deposited their timeshare unit into RCI’s spacebank pool. Simply, the member has given their week up for someone else to trade into. The pool consists of all the members’ spacebanked weeks. You can bank your week when you know your units check-in dates. This can be done online, over the phone and your resort will generally do this for you if you own a floating time. You should have paid your resort dues before spacebanking.

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6. Does someone have to use my week first before I can request a trade?

No. Once RCI accepts your spacebank deposit, you will receive a spacebank acknowledgement by mail. Your deposit will go into the spacebank pool.

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7. What is red, white, and blue time?

Red time (season) is the high season of the resort.

White time is the mid-season.

Blue time is the slow season.

The week you are choosing and the week you are trading for have certain check-in and check-out dates. These dates will fall within the prearranged red, white and blue schedule determined by RCI.

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8. What does Gold Crown, RID, and Standard mean?

Gold Crown and Resort of International Distinction are RCI trademarks. These reflect awards RCI has given to these resorts for maintaining different requirements. Resorts without these symbols are considered standard. Gold Crown deposits may filter out some resorts RCI may feel are not an equal trade. Do not judge all your vacation destinations by these symbols as older resorts without these awards may be the location you want. We have found many quite nice and some of them are our favorites.

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9. Are there fees involved for trading?

Yes. If you live in the US or Canada the current exchange fees are $164.00 for domestic trades (US, Canada and Hawaii) and $199.00 for international trades. These prices are in US dollars.

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10. Do I have to own a Gold Crown to trade for a Gold Crown?

No. The resorts offered to you for exchange of your trade is based on your trading power assigned to your spacebank deposit. You may very well own a standard resort in a high demand area and be offered several Gold Crown or Resorts of International Distinction for the exchange of your week.

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11. Do I have to trade for the same week, season or unit size?

The weeks RCI offers to you for exchange will be based on the trading power assigned to you spacebank deposit. Once you have your week spacebanked with RCI you are free to ask for whatever you wish. Online trading requires you ask for no more than the size of the unit deposited, but if your trading power pulls the one, two or three bedroom units they will show online.

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12. What is trading power?

Trading power is assigned by RCI according to many factors: most importantly supply and demand for your home resort, the time frame in which you spacebanked your week and several other factors by RCI to make fair and equal trades. The truth is in the trade. 

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13. Are online trades creditable?

Yes! If you follow the online instruction and see trades offered to you using your spacebank deposit, the trade is creditable. So real your can scroll down, pay the exchange fee and hold or confirm the resort, size and check-in dates you are offered.

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14. What is the best timeshare trade combination?

That one is easy. It would have to be the lowest timeshare cost, the lowest yearly dues and the one that will get you the resort, unit size and time period that fits you needs. No more questions? Let’s go trading, see you at 201 !!!

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