What is vacation timesharing?
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Simply put, it is your ability to own a luxury, fully furnished resort condominium for a week or more every year. Your resort condominium is yours to use, rent, sell or exchange and can be passed on to your heirs through your estate.
Pinestead Reef is affiliated with Resort Condominiums International (RCI) which offers you the opportunity to exchange your time at Pinestead Reef for one of more than 4,000 other affiliated resorts around the world. Through RCI you are also eligible to utilize their travel services, providing members with incredible travel discounts.
Pinestead Reef is affiliated with Resort Condominiums International (RCI) which offers you the opportunity to exchange your time at Pinestead Reef for one of more than 4,000 other affiliated resorts around the world. Through RCI you are also eligible to utilize their travel services, providing members with incredible travel discounts.
Timeshare innovation at Pinestead Reef Resort
Pinestead Reef has been a timeshare resort since 1979. The resort is owned and operated by the Pinestead Reef Owner's Association, which consists of all the individual timeshare owners at the resort, and is managed and operated by a nine member, owner-elected Board of Directors. Unlike many resorts, there is no developer/owner associated with Pinestead Reef. The Owner's Association makes all the operating decisions, meaning the owners, collectively, have full control of the resort and its future!
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Just like home, Pinestead Reef has financial obligations. Each owner pays their share of the overall annual operating expenses in the form of an annual maintenance fee. The annual fee is all-inclusive, meaning there are no additional billings for property taxes, etc., like at some resorts. Over the past twenty-five years, the annual maintenance fee has increased at an average annual rate of only 1.9% per year. From time to time, on the recommendation of the Board of Directors, a special assessment may be required to undertake and complete major capital improvement projects. Special assessments must be voted on and approved by a majority vote of the Owner's Association members! Any future special assessments will not be a surprise, and the individual timeshare owners can vote yes or no on assessments!
Fixed time & Flex time
There are two forms of ownership at Pinestead Reef: FIXED time & FLEX time. With FIXED time you own a specific week, starting on Sunday and ending the following Sunday. This specific week will never change. Your options include using the week yourself, allowing friends or relatives to use your week, exchanging your week through RCI for time at another resort, or renting the week out. With FLEX time you have the exact same options as a fixed week. In addition, you have the freedom to use your seven days in increments of time, ranging from one night to seven nights at a time, subject to availability, during the flex "season." Click here for more Flex Information.
Exchanging your week with RCI
An annual fee of $99 (discounted if you pay for multiple years) gains you membership with RCI. Please note, you do not need to join RCI to own at Pinestead Reef. With your membership you will have access to over 4,000 affiliated resorts worldwide, listed in an annual, full-color resort directory which will be mailed to you. In addition to the annual RCI membership fee, each time you exchange your week there is an exchange fee. RCI resorts have condominium style units like the ones at Pinestead Reef, not your typical hotel or motel unit. Your membership also entitles you to discounts on travel accommodations, car rentals, cruises, theme park tickets, etc. through Endless Vacation Travel, RCI's travel agency.