Las Vegas Timeshares

Written by: Chuck McDowell Updated: Jan 23, 2024 Published: Nov 16, 2022 4 minute read

According to the American Resort Development Association (ARDA), almost ten million households in the United States own a timeshare unit as of 2022. The country's two most popular destinations are Orlando, Florida, with over 50 resorts, and Las Vegas, which has more than 30.

Las Vegas is many folk’s favorite getaways. Luxurious casinos, amazing entertainment, and unparalleled dining options keep folks returning to Sin City. Travelers necessitate accommodations, and timeshare companies have presented themselves as a reputable choice. Whether that claim is genuine will be discussed further in detail below. 

The History of Timeshares

Timeshares first began in the U.S. in the late 1960s. They offered a new way to vacation that included having a stake in the ownership. Rather than booking a different hotel every vacation, travelers could own a resort unit for a specified week(s) they could use each year. What began as a niche market would soon skyrocket. 

By the '80s and '90s, timeshares received significant backing from large hospitality chains. This involvement from familiar corporations bestowed this still-new industry more credibility. Today, the revenue of the timeshare industry is comparable to the music industry and even Major League Baseball. 

What To Do With a Timeshare

A timeshare is a vacation ownership product in which multiple parties own the right to use a property for a set time. This ownership is often marketed toward those who love traveling. Timeshare vendors allege a timeshare could be a guaranteed vacation. Or it can be used as an investment, such as rental property. While agreeing to a timeshare purchase, a cooling-off period is available should you change your mind.

How to Purchase a Timeshare

A small percentage of timeshare purchases take place on the resale market or as a gift. The majority come on behalf of property developers. These companies encourage potential buyers to attend a sales presentation in exchange for a free or discounted resort stay. 

A salesperson's pitch often compares prices to options, such as a hotel. Alas, timeshares may not be the cost-saving alternative. In 2022, the average price of a weekly timeshare unit in the U.S. is $24,140. The average annual maintenance fee is $1,000. Both figures have gone through significant increases and continue on that trajectory.

Before purchasing a timeshare, consider whether doing so is a wise financial decision. Timeshares are not as easy to get rid of as they are getting into

Types of Timeshares in Las Vegas

When approached by timeshare vendors, interested buyers may discover multiple options. While the general use is the same, the long-term effects are the critical difference. Below are the two common timeshare ownerships. 

Deeded Timeshare

Timeshares are often sold as a deeded property, where buyers receive a title to a specific resort unit. These have typical real estate ownership rights, such as being free to sell, rent, will, or gift the property to others. This ownership is supposed to offer flexibility in usage, as owners can use their units when and how they want or exchange weeks and locations. Still, deeded ownership has restrictions and is unlike typical real estate.

Right-to-Use Timeshare

A right-to-use (RTU) timeshare is a non-deed agreement that permits buyers to lease property. These shared leases last anywhere between ten and a hundred years. The unit's title deed remains with the property developer. Therefore, the ownership rights for an RTU timeshare are limited to having the right to use it for a set time. 

Las Vegas, Nevada
Las Vegas, Nevada

Timeshare Resorts in Las Vegas

Nevada is best known for the Las Vegas Strip, the busiest part of the state and home to world-famous casinos. Tourists can try their luck at card games, slot machines, and sportsbooks. Or, explore the entertainment shows, golf courses, and fine dining that Sin City has to offer. 

Many timeshare resorts are within walking distance of The Strip. They also provide luxurious 24/7 amenities like in-house casinos, spas, and restaurants. While staying in a timeshare is one way to experience all Las Vegas has, be cautious about purchasing one. 

The Pros and Cons of Timeshares

Many former owners find that the disadvantages outweigh the advantages of timeshare ownership.

Benefits of Timeshares

  • Vacations are reserved: A timeshare gives you a guaranteed reservation at the same resort for the same time every year. Some may argue that folks are more likely to go on vacation if it is already planned.
  • Owners do not have to maintain it: Owning real estate involves many responsibilities. Alas, at the cost of an annual fee, the timeshare company will take care of maintenance and repairs.
  • Money-saving travel alternative: The average cost of vacationing goes up on a regular basis, from travel costs to hotel rates. Timeshares allow vacation-goers to pay today's price for future trips.

Drawbacks of Timeshares

  • Limited vacation flexibility: Traditional fixed timeshare weeks lock buyers into the same property and the same time of year for all future vacations. Unless that is preferred, a timeshare may not be ideal.
  • Annual maintenance fees: Owners pay such fees every year for as long as they retain ownership, even after it is paid off. As of 2021, ARDA estimated the average annual fee to be $1,121. 
  • Lack of investment value: Despite the impressions that resorts give, with ongoing expenses and the lack of a way to profit from it, timeshares hold little to no value.

Everything You Need to Know About Timeshares in Las Vegas

Be careful if approaching a timeshare as a hospitality option. While they provide several benefits, oftentimes, it has been proven that they take advantage of unsuspecting vacation-goers. Hence, the establishment of the timeshare exit industry.  

Wesley Financial Group, LLC*

Wesley Financial Group, LLC* (WFG) is a timeshare exit company assisting buyers who are misled into purchasing. As a pioneer in the industry, WFG’s track record speaks for itself. With over a decade of experience, this reputable company has accounted for more than 30,000 timeshare cancellations. 

Contact a WFG representative if you know someone who experienced deceptive sales tactics with a timeshare purchase. Their timeshare termination services may help them achieve financial freedom. 

over 30,000 families helped by wesley financial group

*Wesley Financial Group, LLC, and its affiliates, successors, or assigns are not lawyers or a law firm and do not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes only and not intended to substitute for professional advice, legal or otherwise.

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