In certain cities in the United States, local laws regulate and restrict what residential zones a timeshare may operate in.
In Newport Beach California, for example, there is a requirement for a permit that must be reviewed and approved by the city, so as to ensure the timeshare development conforms with the stated requirements, including the minimum number of units and required amenities.
Timeshares must also still conform with property development standards in the zoning district they are in. Also, timeshare developers must submit 4 plans to the city as part of their application – a sales plan, an operating plan, a management plan, and a contingency plan.
These plans explain what will happen if the timeshare development is an economic failure or fails to sell at least 50% of its units within 2 years).
To learn more please contact Newport Beach Real Estate Attorneys today - NewportBeachRealEstateAttorney.com (https://www.newportbeachrealestateattorney.com) or call (800) 233-8521 for a complimentary phone consultation.
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