What is a Floating Week?
When purchasing a floating Week in timeshare you will get the right to use a time period (1 week – 7 nights) by the size of a unit and season of the year, not specified to a date, week number or unit-number as in the case of the “Fixed Week” option. Owning a floating week does not give you any guarantee for a specific occupation date or unit number on an annual basis, but instead you may choose your holiday time out of the resorts or club “Pool of sold inventory”, offering certain flexibility.
You must request your desired week according to the season designated in most cases, however at certain Timeshare-Resorts, Destination-Clubs or Vacation-Clubs different rules may apply.
Generally the use rights are subject to you reserving your week within a season determined, such as high, mid or low season and is always subject to availability and the yearly assignment is usually based upon a first come-first served basis. Highly desirable weeks go early! (National Holidays, Fiestas, Bank-Holidays, Easter-Week, Sport-Competitions etc…to be considered when buying abroad)
If a floating timeshare week is in high-season, the owner can reserve any comparable week in high-season that is available, while periods with maximum demand like school holidays or other prime holidays may be excluded from the term “high-season”. Some floating week contracts may exclude major holidays and they may be sold as fixed weeks only. However, your contract should state the provision of rights to occupy accommodation to be selected from this “pool of accommodation”, and give precise information on restrictions on your ability to use any accommodation in this pool at any season, high, mid or low.
When owning a floating Week (flex week) it is your responsibility to contact your resort or club each year and to pay your maintenance fees in time to get the confirmation for the allocation of the exact week number, apartment number, and arrival date. This should be done as soon as you get your maintenance bill and is especially important if you want to bank your week for exchange. (Trading-power wants early deposit!)
If you prefer to use your holiday time at your resort or club, you must know that as a floating Weeks owner you may request a specific unit and if available for that particular week, the allocations department normally will honour your request. Therefore, the earlier the maintenance fees are paid the better the chance that you can pick a specific week and/or unit. My recommendation is to book as early as your resort allows giving you as many options as possible.
In timeshare the difference in seasons indicates the popularity or demand of any particular resort and area at that time. The highest demanded weeks are rated as high season or red time, moderate demanded weeks are known as midseason or white time and the less or low demanded weeks are known as low season or blue time. The exception of the rule is normally prime-time, which I started to call unofficially “Super-Red”.
Alternatively a floating week owner might also elect to upgrade or downgrade to another season allocation to meet their annual holiday needs. Upgrading to a higher season usually incurs an additional cost and depends on availability of inventory.
As I mentioned above you may find different rules in different clubs. A few timeshare resorts or vacation clubs offer these two “Special floating week arrangements”.
Floating week ownership based on “fixed rotation” – which is a type of timeshare ownership in which specific weeks rotate among owners from year to year on a fixed schedule. The weeks are rotated forward or backward through the timeshare-calendar. One year you may have use of week 27, then week 28 the next year and then week 29 the year after that. In general it is a fair method but it is not flexible. This rotation scheme is very common with fractional ownership interests or private residence clubs.
Less common is the floating week based on “ownership rotation” – a type of ownership in which the owner purchases week(s) and works out the appropriate vacation time with the other owners on a rotating basis each year.
Are you an owner of a floating week? Chat with other members in our forum! Looking for something? Need an opinion? Have a question? Post a topic, and someone will definitely help you out.