The economic recession is not only affecting timeshare owners causing them to seek for timeshare relief but the whole ownership industry. Timeshare companies are having difficulties to sell out their properties but so does the rest of the real estate industry. Condo sales and rentals has slowed down causing some condo owners to suffer from the costs that their condo units are causing them.

The Villas at the Ocean Club in Biloxi is allowing its owners to consider converting the property into timeshare units. This is said to enable them to keep their units and recoup investments they have spent for the property. The proposal was discussed by the Biloxi Planning Commission and they are in favor of converting the beach front tower into timeshare units.

Interval International will be the partner company of The Villas to market and manage the units that will be included in the plan. Condominium unit owners who are not interested to be part of the market restructuring can keep their properties as it is. Attorney Michael Cavanaugh assured the owners that no structural changes will be made with the property.

The said marketing change is expected to double up the value of the units. The expenses for the maintenance and repairs will be handled by the timeshare company. If this plan is really pursued and becomes successful, this may not be the end of similar restructuring. A number of timeshare owners seeking for ways to get rid of their timeshares will have additional competitors out of these condo unit owners.