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When Bad Timeshares Happen to Good People

bad timeshares

February 27, 2019 – by Primo Management Group

bad timeshares

Protect yourself from bad timeshares!

If all timeshares delivered on the promises of affordable, enjoyable vacations for owners, that would be great. Unfortunately, there are a lot of bad timeshares out there breaking promises left and right. And even more unfortunately, it’s not like timeshare owners can just pack up and go elsewhere. Instead, they’re stuck in their contracts, sometimes forever. So, what makes for bad timeshares? And how can you protect yourself?

Aggressive Sales Presentations

The timeshare industry is known for aggressive high-pressure sales presentations. These tactics are bad news all on their own, but there are bigger consequences that go beyond just the individual consumer to make for bad timeshares. People make poor decisions under pressure. So, when people buy timeshares that don’t suit them, here’s what happens. If they can’t afford their timeshare, they may miss loan payments and maintenance fee payments. This means reduced cash flow for the resort. Additionally, the resort must put resources into collecting these fees. And the worst-case scenario would be default, which results in permanent lost revenue. The resort will typically pass the costs of any shortfall along to the other owners.

People may also buy a timeshare that simply doesn’t suit them. In this case, they may not get along with other owners. Or they may not be prepared to follow the timeshare bylaws. Maybe your resort has quiet hours after 10 but has sold to some hard-core partiers. That could mean they’re keeping your kiddos up until all hours. In another scenario, owners may end up renting their unit. And maybe you’re okay with whoever shows up next door to you each year. But many owners are looking for more stability.

Poor Management

Timeshares are governed by a Board of Directors (BOD) responsible for keeping the resort up and running. However, if your BOD doesn’t do their job right, you’ll be the one to suffer. And poor management has big consequences. For example, poor housekeeping and a lack of maintenance mean unsafe, outdated, and unsanitary conditions. That’s not a dream vacation, and certainly not a vacation you want to pay for year after year. What’s more, improper maintenance costs you more money over the long term when the big repairs come due.

Unpredictable Fees and Recurring Special Assessments

Any timeshare owner knows they’ll be paying fees forever, but unpredictable maintenance fees and frequent special assessments definitely make for bad timeshares. It’s pretty much a given that maintenance fees will increase year over year. But when prices leap and bound, there’s no way for you to plan or keep up. This puts you and the other owners in a tenuous financial situation. Add special assessments to the mix and things can get dire. A special assessment to cover one-time issues do happen. But if it’s happening year after year, there’s a problem. Especially when they are caused by budget shortfalls. That’s a sign that your timeshare is not healthy.

Overselling and Double-Booking

Bad timeshares often engage in overselling and double-booking. So, what does that mean? When a timeshare overbooks, it means they schedule two owners into the same unit at the same time. Then, when the second owner shows up, they don’t have anywhere to stay. In a best-case scenario, they’ll be able to get you into a comparable unit. Or, maybe they can get you into a lesser unit. In a worst-case scenario, you’re out of luck.

So, double-booking is bad enough. But what if you can’t even get a reservation at all? That’s what happens when resorts oversell. Overselling is the practice of selling to more owners than they can reasonably accommodate. When this happens, you can’t reserve a week and don’t get to use your timeshare that you paid for. And unfortunately, the benefit of increased sales revenue incentivizes this practice.

So, what can you do if you find yourself stuck in a bad timeshare? We think it’s best to get out. And we can help. We specialize in assisting owners like you in getting out of their timeshares safely, ethically, and forever. Contact us today for a free consultation to see what we can do for you.

(Image Source: Pixabay)

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.