Timeshare what is a lockoff

Hilton Anderson Ocean Club. Hilton Flamingo. Hilton Las Vegas Strip. Subscribe to our Mailing List for Updates! Loop Rd. Alameda, CA Becky and Jerry bought a time-share at one of their favorite beachfront vacation spots. The couple bought a lockoff. The locked-off portion of their time-share condominium resembles a hotel room, with one room, plus a bathroom and a kitchenette.

The other side of the time-share has two bedrooms and is much roomier. The couple decided they would use the larger side of the unit for their annual two-week stay and rent the lockoff to someone else. The couple had thoroughly reviewed the property report and all the rules and restrictions for using and renting their unit before they bought it. Need a mortgage calculator? Bankrate has a wide variety of calculators that can help you with different types of mortgages. A flipped house may need more work than it seems.

Yes, you can sell your house with a few mouse clicks. But should you? The owner of a lock-off has several options when it comes to renting out the unit. Rent the entire unit to one party Stay in one half of the unit and rent out the other half Rent out both halves to different parties.

Before renting any timeshare resort unit, make sure to ask whether you are getting a lock-off, and confirm the unit size and amenities in writing.