Half-shares are a fairly new concept. This is how they work.
What Is a Half-Share?
Unlike a timeshare, where the participants get one designated period of time per year at the shared property, families who half-share get more time. This does sound odd because “time” is included in the phrase “timeshare”, but that isn’t how it works.
Half-shares are initiated by the owner of the house, condo or whatever the property is. The owner would have to live in a place that makes sense to share. For example, the property would need to be someplace desirable like proximity to the beach, a ski slope or even a college town. Sorry, but no one is going to want to share your ordinary split level house in the suburbs.
How Does It Work?
If a couple owns a half share Wilmington VT, they may be sick of skiing and winter. They could offer their residence as a half-share to get away a bit every winter and to make a little income.
An avid skier might be interested in staying at that house with their friends, especially if it has a cool feature like a fire pit or hot tub. By participating in a half-share, the skier would spend every other week from November to April in the house.
What Happens During the Other Weeks?
Where do the owners go when it’s the renter’s week to stay? Maybe they stay in a nice hotel in a nearby city or they might even have friends or relatives nearby that they visit on off weeks.
Likewise, the renter can’t live too far away from the property or the commute every other week would take the fun out of the stay.
Both parties should make sure they invest in calendars to avoid a surprise visit one week.