ASK FERN
Last update: 17Nov2001
I have gotten several E-Mails from new users asking how they make exchanges,
so this is a good time to begin this discussion, I think. I can provide
general info on how the system works, and specific info on how we think
RCI works, but somebody else will have to make comments on II. Most of
the smaller companies operate in a similar fashion. If there are questions
about those companies, call them.
When you buy a timeshare from a developer, or even in a resale, usually
membership in RCI (Resort Condominiums International) or II (Interval International)
goes along with the sale. You pay dues to one of these organizations, and
in exchange get a large catalog ("wish book') with the pictures and descriptions
of the various resorts. In addition, the wish book lists the occupancies
of the units, the seasonal designations, amenities, etc. In addition, you
get updates in magazine with articles, like a travel magazine (II has 4
per year. RCl has 6). Save these, for they sometimes have resorts that
are not yet in the wish book. With RCI you can tell by the resort number
if it is new to RCI or not (does not mean it is new, just new to RCl) The
lowest numbers are the oldest. Newest ones are in the 3000+ range.
To obtain an exchange, you must first SPACEBANK your week (with II this
is not necessarily true, but is with RCI). Once you do this, the exchange
company is free to give it to somebody else, and you can't get it back,
so be sure you want to let it go, and are not going to use it for the year
you give them. Some resorts will not let you spacebank until you pay the
maintenance, by the way. If yours does, you can pay them an approximation
of next year's and they will then confirm for you.
Once you have spacebanked, you may make a REQUEST. When you make the
request, if it is not immediately confirmed, you must pay a refundable
deposit equal to the fee for the week in order for the search to continue.
The best way to obtain something is to be as broad with your request as
you can. In other words, give them a range of dates to look for (usually
I give them a month or so) and an area or a list of at least several timeshares
that you would stay at. If possible, you should make this request a year
in advance, since the most spacebankings are done either just under a year
in advance or when maintenance is paid (which will be around the first
of the year for many). January and February are very busy months for RCI.
This time of year I am not even hearing Muzak when I call.
Once you make the request, you ask them to "call to confirm," and then
they will have to contact you to see if the unit is what you want. When
this happens, it is your right to ask for a 24-hour hold while you discuss
it with your spouse, obtain air fare, or ask us about it. If you do not
call back within the time, though, you lose it.
I believe in calling when I have an exchange pending; sometimes they
come up with something I would take, but not on my list, if I only knew!
If for some reason you need to cancel your exchange, RCI allows a grace
period of 24hrs to cancel exchanges without penalty. There is a charge
of $75 if the exchange date is 60 days or more. No refunds for cancellations
less than 60 days out.
