The state of Nevada requires a minimum of 14 hours in pre-licensing education in timesharing before granting a license to sell. This means that even without a real estate license in the state of Nevada, you are able to sell timeshares with this type of licensing. Before you begin studying for your timeshare licensing in Nevada, here are the basics of understanding the types of timeshares.
- Fixed Week Timeshare – A fixed week timeshare gives the buyer the right to the same property, the same week, and every year that the contract dictates. This can be extremely beneficial if the buyer is in a highly sought-after location. If the buyer has a fixed-rate timeshare, the owner can then rent out his or her block of time to other individuals as they see fit. This can be a great opportunity to increase income if the property can rent for a high cost.
- Floating Timeshare – A floating timeshare gives the buyer a more flexible time to use the timeshare. This includes the ability to choose the week of time spent at the property, but it can change from year to year. The downside to a floating timeshare would be if the buyer has a specific week each year that must be spent at the property. This can cause concern for other property owners.
- Right-to-Use Timeshare – Rights-to-use refers to the arrangement decided by the property owner to lease the property for periods of time each year. There is no direct ownership of the property by the timeshare buyer as the developer maintains direct ownership. Before getting your timeshare license in Nevada, consider the perfect buyer of timeshares that give the owner flexibility when investing in new properties for vacation and rentals.
- Points Club – The points club idea for timeshares is based on the understanding that the buyers can stay at various locations due to their accumulation of “points”. These points can be used as currency as well timeslots for the property on a first-come, first-serve basis.
The advantages of owning a timeshare can outweigh the cons for many buyers. Having your timeshare license in Nevada is a great way to experience the world of real estate before committing to receiving your license. Contact us today at KeyRealtySchool.com to learn more.