A timeshare is a name given to a piece of property shared among number of owners. This involves the use and cost of maintaining the property. Although the majority of the timeshare rentals are resort condominiums, don't be surprised if you find a hotel timeshare or a motor home timeshare or a cruise timeshare or even a campground. The choices are increasing by the day. The idea of a timeshare property originated in Europe in 1960s when the property rates were skyrocketing and it was impossible for people to afford a full time vacation house. But by sharing the ownership, the burden of maintenance and other costs on single person were greatly reduced. These also boosted the fortune of real estate developers as they were able to successfully market and sell the properties to a greater number of people. But a key point to remember in timeshare properties is that a timeshare is owned by a number of people who have no relation to one another like a standard home ownership.

A technical definition of timeshare property is that an owner has specific time to share in an owned property. But as more and more properties are being converted into timeshares, flexible timeshare options cannot be ruled out. The flexible timeshare offers owners the option of choosing more than one timeshare destination and also more than one specific time of a year.

Timeshare properties are usually found in warm destinations like Florida where people like to vacation a lot. This is why you often see Florida vacation rentals listed on timeshare sites. They can also be found in cold weather areas near ski resorts. The timeshare properties are typically furnished in full and usually have one to three bedrooms, multiple bathrooms, a kitchen and a living room. It may not come as a surprise if you find timeshare properties with indoor or outdoor pools. They have become a common feature of most timeshare properties nowadays.

The typical duration of a timeshare ownership unit is one week. Depending on what time of the year you own the timeshare, the price may vary. For example, Florida vacation rentals in the month of April will be much higher than in August. So the rates may vary with varying season and demand. Some resorts give color coding to different seasons depending on the demand. For example some resorts term peak season as "red season" meaning the prices of the timeshare will be highest in that season.

Timeshares can generally be handed down to your children just like any other owned property. For this reason timeshares can be a great investment, along with providing great vacation opportunities. One of the possible ways to earn a little extra income is to rent out your timeshare when not in use. This allows you to earn a rent check while also allowing your property to appreciate in value. Most timeshare properties are able to be exchanged with other properties. The only pitfall to be aware of is that it will be harder for you to exchange an off-season timeshare unit with a peak season timeshare unit. On the other hand, if you own a red season timeshare, it will be incredibly easy for you to exchange your unit with a unit in any other season.

Timeshares can be purchased through financing, but mostly the resale properties purchased from individuals are paid in cash. The cost of maintenance, management and cost to maintain common areas like pools and tennis courts are paid by timeshare owners. Fees may vary and always make sure to find these costs out before buying a timeshare.

There are many types of timeshare properties. A fixed unit, fixed week, deeded timeshare allows you to own a specific timeshare at a specific time each year. A floating time agreement allows you to be flexible about the dates that you can use your timeshare. But reservations may be only first come first serve as many owners would like to go for that option. A Right-To-Use timeshare is a leased timeshare. That means you no longer have rights to the property after the lease expires.