Timesharing – everything you need to know

The property market offers clients various forms of renting, selling, buying and using property. For several years now, timesharing has been yet another increasingly popular phenomenon. Learn the terms of this way of using a flat or house. We invite you to read the guide Timesharing – everything you need to know.

Timesharing – a short definition

This is a special type of use of a residential building or a designated part of it. The purpose of timesharing is for the user to acquire the right to use a property during a set period each year. At the same time, the user undertakes to pay the business operator a lump-sum fee. The name comes from two English words: “time” and “share”.

Timesharing – everything you need to know

A timeshare agreement is a kind of hybrid. It combines features of a seasonal rental with the right to use a property. Timeshare is covered by legal regulation in Poland. Several years ago an agreement regulating this type of use of buildings was introduced. It is concluded for a period longer than one year. This agreement brings mutual benefits. A business operator who decides to make a unit available for set periods knows that at a specific time there will be guests, so profit is assured. People using the flat do not have to worry about the availability of accommodation. It is a great solution for tourists and holidaymakers who have developed a particular liking for a place. In addition, the cost of the “rental” will not change, so we can easily predict the expenses connected with the trip. An exchange system makes the agreement even more attractive.

Legal regulation

The statutory provisions apply only to those timesharing cases that cover more than three years. Buyers who are natural persons are protected. In addition, a timesharing agreement should not fall within the scope of business activity. The agreement is intended to protect against unfair practices by business operators.
For the agreement to be binding, the business operator must provide the interested person with a written prospectus, which should contain:

• The business operator's details
• The company's details
• The rules for exercising and transferring the right to the property
• A description of the property being made available
• The amount of the lump-sum fee
• Information on the buyer's right to withdraw from the agreement within a given time limit

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