Timeshare refers to a type of shared property ownership. In a timeshare, there are several owners, each of whom has rights to a property, which can be configured in a large number of ways. Timeshare ownership is popular for recreation, resort, and vacation club properties. Timeshare software is software specifically designed to assist in and streamline the entire group of enterprises involved in timeshare properties.
Timeshare software has some unique facets. Unlike whole-owner management, timeshare software has to account for the changeover of residency, like a hotel, with check-ins and check-outs, and housekeeping in between. Also, because timeshares are created on different models, timeshare software is generally created to handle a variety of different ownership concept, including contracts, eight-share, fixed week, float week, point-based, and quarter-share, as well as arrangements that are annual or biennial, and right-to-use or split-use weeks. Certain timeshare software can combine multiple types of timeshare along with whole ownership and/or hotel room rental.
Timeshare software is sometimes divided into modules by the departments that may be involved in a timeshare enterprise. In this case, one may find separate timeshare software modules for marketing, sales, management, and finance. The marketing module might contain subcategories such as managing leads and fulfillment, tours, and inventory. In the sales module, one might find tracking abilities, document templates for contracts, loan notes, statements, and emails, as well as storage capability for documents. Sales campaigns and ongoing contact with newsletters may also be part of the package.
The management segment is likely to have a reservations system and history. Also important is a property management section for keeping track of check-in and check-out, maintenance, and housekeeping, as well as rental agreements. In the finance module, one may find details of the mortgages, maintenance fees, and collections.
Integration between different modules within the timeshare group is essential, but some software provides external integration as well. For timeshares that are integrated with tours, timeshare software packages may offer integration with the tour vendor for ease of booking. Contracts and commissions can be automatically generated.
Some timeshare software contains an accounting package. This allows a full integration of timeshare operation with accounts receivable, billing and collection of the management fee, sales, maintenance costs, etc. Alternatively, the timeshare software package may have a means to export data to a stand-alone accounting software application.
