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Views expressed here  are not necessarily shared by the Administrators of Las Casitas

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What Is a Timeshare?

A timeshare is a shared ownership model of vacation real estate in which multiple purchasers own allotments of usage, typically in one-week increments, in the same property for a specific time

Time-sharing is a form of fractional ownership, where buyers purchase the right to occupy a unit of real estate over specified periods. For example, purchasing one week of a timeshare means the buyer owns one-fifty-second of the unit. Buying one month equates to one-twelfth ownership.

Timeshares confer upon buyers the right to annual exclusive use of a Las Casitas villa for a defined period that is measured in one-week increments.

A fixed week timeshare gives the buyer the right to exclusively use the property for a specific week (or weeks) every year. While the main advantage of this structure is that the buyer can plan an annual vacation at the same time every year.

Fees

Owners are obliged to pay annual maintenance fees as follows

• Studio:  €290
• One bed: €392
• Two bed:  €483.50

Owners can also let their units through the official  rental programme enabling owners to recover their fees in years they cannot use their weeks. Fees are approved annually at the Owners’ Annual General Meeting

Disposing of your timeshare

Unlike many other timeshares, buying a timeshare at Las Casitas is not a lifetime commitment. Owners have the right to sell their timeshare, either privately or through WimPen’s resale programme. Timeshare weeks can also be relinquished without penalty.