Usage Assignment Method
The Usage Assignment Method is a method for allocating usage rights in a co-ownership arrangement of a second, or vacation, home. In usage assignment, each owner is assigned specific dates when they will have exclusive right to the property. This exclusive right -in addition to access to the property for the owner and/or their family/friends- includes the right to rent the property as well as exchange/swap it with other co-owners.
The amount of usage alloted to each owner is generally based on the ownership percentages of each owner (or vice versa depending on how you look at it). It's important to note that some time periods are more valuable than others. In cases where each owner has the same time period year in and year out, the co-owners may want to allocate a greater portion of ownership to the most valuable time periods. For example, a beach house co-owner who wants to secure the highly desirable 4th of July week may be allocated a greater ownership responsibility than another co-owner who "owns" the entire month of February.