Vacation Property Exchange

Vacation property exchange is one of the primary reasons for buying a vacation property for many people because this gives them the flexibility of exchanging their vacation properties with other owners principally to visit a different tourist destination each year. Earlier vacation properties were not exchangeable. Slowly and steadily things started changing. With the advent of technology and better management tools available today more and more vacation properties have the inbuilt feature of vacation property exchange. Though not all vacation properties may be exchangeable, it is better to enquire this before buying a vacation property. Most vacation property developers have tie-ups with vacation property exchange companies, so when you buy a vacation property you are automatically enrolled into a vacation property exchange program. The fee for the first year is usually free but you may have to pay the fee from the second year.

A vacation property exchange gives the owner freedom to vacation at any time of the year unlike only at a specific time. Also it gives the freedom from going to the same unit every year. The way it works is the owner trades his/her unit with owners of different vacation property and different resorts. But most of the time there is a requirement that the units should be similar, which means you can’t trade one bedroom with a two bedroom unit and vice-versa.

A vacation property can not only avail the exchange service through the vacation property developer but can also go directly to a vacation property exchange company. But care should be taken to select a right exchange broker. Do your homework first by researching well about the background of the broker. The vacation property industry is not fully protected against non-scrupulous acts by scammers and frauds. Do not pay huge fees or sign any document unless making sure you are doing the right thing.

A vacation property exchange member usually deposits his/her vacation property unit into the inventory of the vacation property company’s available weeks. It is not a simple transaction. If the week requested by an owner is in the inventory and the week offered by the owner is a good exchangeable week then the exchange takes place. It does not mean that the owner has to wait until the time the exchange company finds an exchange offer for your vacation property. They already decide it after reviewing the vacation property like what season vacation property it is? What location? Those who have vacation properties in peak season have more chances of finding a vacation property and they can request exchange both in peak time and off peak time periods. The owners who have off peak vacation properties usually get off vacation properties, their chances of getting a peak season vacation property are almost zero. But this may vary from resort to resort. Some resorts may be busy all round the year. The owners in these kinds of resorts generally have no problems exchanging vacation properties.

If a person cannot find an exchange the exchange company puts you in the waiting list and contacts you whenever an exchange is available and gives you the exchange unit. The owner can also choose at the beginning of the exchange request whether to approve the exchange confirmation at the approval of the owner at least a week before the confirmation or to go ahead and confirm the exchange without the approval. Again keep in mind good planning is necessary to initiate an exchange. If you decide to exchange a vacation property at the last minute, it may not be possible.