WHAT ARE MY MAINTENANCE FEES USED FOR?
Maintenance fees are used for the daily operations of your resort as well as other refurbishment projects.
WHAT IS THE CAPITAL RESERVE ACCOUNT USED FOR?
Capital reserves are set aside and saved in an account for future repairs and refurbishment projects. This fiscally responsible approach ensures that your resort will be maintained just as well 10 yrs. from now as it is today.
WHY DO I PAY PROPERTY TAXES?
Similar to your primary residence, you have a deed to a piece of property that is taxed by the county in which your resort is located.
ARE MAINTENANCE FEES TAX DEDUCTIBLE?
We have not heard an instance where an owner has been able to write off their maintenance fees or property taxes for their timeshare. It is advised that you consult with your tax accountant for further information.
WHAT IS BONUS TIME?
Bonus Time is an industry term used when an owner would like to stay some nights at their home resort for a discounted rental rate. Bonus Time does not affect the owner’s week.
HOW TO MAKE A BONUS TIME RESERVATION?
Bonus Time policies are established by your home resort. Bonus Time is available on a limited basis with a specific reservation window. To determine your resort’s Bonus Time policies, please call or email your home resort.
WHAT TO DO IF I AM UNABLE TO USE MY WEEK?
If you are unable to use your week, you have many options: 1) Rent your week, 2) Give your week to friends or family, 3) Bank your week with an exchange company like Platinum Interchange, or 4) Donate your week to a charitable organization. An owner must either use or bank their week to avoid forfeiting the week.
MAY I BE A MEMBER OF MORE THAN ONE EXCHANGE COMPANY?
It is our understanding that as an individual timeshare owner you have the prerogative of choice of service provider and may use any company you choose to exchange your week. Please consult with your home resort if you have any questions. Consider Platinum Interchange for your Vacation Exchanges and Rentals!
MAY I DEPOSIT MY WEEK WITH MORE THAN ONE EXCHANGE COMPANY?
No, once you deposit your week with any exchange company it is immediately available to other individual exchangers. Depositing it with another company can result in a double booking and cause you a liability for any relocation expense by the resort, the exchange company or other guest.
ARE ALL EXCHANGE COMPANIES THE SAME?
No, although they may have some similarities they differ in several important ways. Some are deposit first only, while others allow you to make your request first before you relinquish your week. Additionally, some require you to pay the fee before searching for your exchange request. They also differ as to membership fees, exchange rates and time in the industry. Platinum Interchange, established in 1979, is the 3rd Exchange Company!
WHAT IS AN EXCHANGE?
A timeshare exchange is relinquishing your reserved week in exchange for a week at a different resort or time than what you own. At Platinum Interchange, the exchange process is twofold: First, they must be able to use your week, and second, they must be able to confirm the availability of the time and place you are requesting.
HOW DO I KNOW WHICH EXCHANGE COMPANY TO USE?
You may consider using the exchange company that best meets your family’s vacation needs.
WHAT DOES BANKING/DEPOSITING MY WEEK MEAN?
Banking your week means relinquishing your time now by placing it into the Platinum Interchange “bank” and receiving credit to use for a future exchange. Your week may be exchanged up to a year in advance, so owners are encouraged to bank early. There are no fees for banking with Platinum Interchange.
WITH PLATINUM INTERCHANGE, WHERE MAY I EXCHANGE?
Platinum Interchange confirms timeshare exchanges to over 1200 resorts worldwide. Platinum Interchange specializes in quality resorts located in popular vacation destinations. Platinum Interchange’s website directory is constantly updated when they accept new resorts, so stay informed by visiting the Resort Directory on-line. Please contact Platinum Interchange’s Vacation Counselors with your vacation requests.
WHAT DOES “LIKE FOR LIKE BASIS” EXCHANGE MEAN?
Platinum Interchange’s exchange program is based on a “like for like basis.” This means, for instance, if you elect to relinquish a suite that accommodates two during a particular season, then you should request the same for a similar season.
WHAT ARE THE FEES ASSOCIATED WITH THE OWNER RENTAL PROGRAM?
Please call the Tricom Realty Services, Inc., Owner Rental Department at (714) 696-3315 or email ownerrental@tricomrealtyservices.com, as costs/fees are subject to change and certain restrictions may apply.
HOW ARE THE RENTAL RATES CALCULATED FOR THE OWNER RENTAL PROGRAM?
Rental rates vary depending on such variables as resort quality, location, season, suite size and day of week. Additionally, other variables include holidays and demand. Based upon such variables, the Owner Rental Program determines competitive rates for the resorts participating in the program and then apply standard discounts to modify the rates as the check-in date approaches.
HOW DO I KNOW IF MY “LISTED INTERVAL” HAS RENTED THROUGH THE OWNER RENTAL PROGRAM?
The Owner Rental Coordinator notifies you with a status letter approximately 21 days prior to the check-in date. Or, you may contact the Owner Rental Coordinator during regular business hours by way of email or telephone.
WHEN DO I RECEIVE PAYMENT FOR MY “LISTED INTERVAL” RENTED THROUGH THE OWNER RENTAL PROGRAM?
For the time rented, you will receive payment in the mail approximately 30 days (depending upon holidays and unforeseen conditions) after the last night of the stay. (Note: Certain restrictions may apply, please call the Tricom Realty Services, Inc., Owner Rental Department at (714) 696-3315).
