Co-Ownership vs. Timeshare: What's the Difference?
Co-ownership and timeshares both let people share a vacation property, but they are different products. With Slyce Properties co-ownership, you own part of one specific home in the French Quarter of New Orleans. With a typical timeshare, you buy the right to use a resort unit for a set week, or points you trade for stays.
The key differences
| Feature | Slyce Properties co-ownership | Typical timeshare |
|---|---|---|
| What you own | A membership interest in a Louisiana LLC that owns one specific residence | A right to use a unit for a week each year, or points in a vacation club. Some timeshares deed a specific week. |
| Owners per home | Six, at most | Often dozens per unit, each with a week or two |
| Time each year | At least 60 days per 1/6 share, and often more depending on availability | Usually one or two weeks |
| Booking | In an app: up to three planned visits a year of up to 7 days each, plus space-available and last-minute stays. Priority for peak dates like Mardi Gras and Jazz Fest rotates every year. | A fixed week, or points-based booking shared with many other owners |
| Selling | Sell when you want, at a price you choose, with our help, on your own or through an agent (subject to the operating agreement) | Resale can be difficult, and some contracts restrict it |
| The home | A specific luxury residence, such as a 4-bedroom penthouse with a rooftop pool at Jax Brewery, furnished and managed for six owners | A resort unit in a building with many units |
| Ongoing costs | All-inclusive monthly costs of about $510 (1-bedroom) to $983 (penthouse) per 1/6 share, covering insurance, taxes, utilities, condo dues and management | Annual maintenance fees, which can rise over time |
Why Slyce Properties is not a timeshare
Slyce Properties is not a timeshare or points program. Each home is owned by its own property-specific LLC, owners hold membership interests in that LLC, and scheduling is designed to be fair among a small group of six owners. You can also hold your share through an LLC, trust or corporation.
Frequently asked questions
Is fractional ownership the same as a timeshare? No. Fractional ownership, or co-ownership, means owning a share of a specific property. A timeshare usually sells the right to use a property for a period of time.
Can I sell my share? Yes. You can sell when you want, at a price you choose, subject to the operating agreement.
How many people own each Slyce Properties home? Six owners per home when every share is sold separately. You can buy more than one share, up to the whole home.