Understanding The Challenges That Come With Exiting A Timeshare Deal
Buying a Timeshare, Guides, Tips, and Hacks
3 min read
You’ve heard stories about people investing in timeshares and making a lot of money. How it’s so easy for them to turn a profit every year and they do not have to do anything. These companies tell you the stories, of how you can make thousands or more with simple, affordable investments. It’s so easy, right? Actually no, but for the sake of being fully transparent, there are successful timeshare investment stories. We do not want to tell people something that just benefits us, but we also want to make sure you know the facts about what you can do and what you can’t do if you are looking at these transactions as an investment.
Fact: People do make money investing into timeshares each year. What they do is they rent out their availability in the resort to people who want to vacation in that destination at that time.
Fiction: It’s easy. Actually, it’s not easy, you have to not only have a unit in a prime tourism destination, but you also have to have it at a time tourism would be high. Think about having a unit in New Orleans during Mardi Gras versus having it during June. Marketing the availability can also be difficult.
Fact: You are free to charge whatever you want for renting out the place.
Fiction: You cannot do it without the knowledge of the resort. This can actually be both because it depends on the resort. Some resorts will need the renter to provide verification and identification and that means you will have to work with them. Other’s do not care, just show up with a key and the room is yours, so check with the resort first.
Fact: You can do this as much as you want with as many weeks, resorts, etc.
Fiction: The renters will be responsible for the care of the property and following all rules. In reality, you are still responsible for any damages or expenses that come up from their stay.
Fact: The renters pay you directly for their time using the property
Fiction: The resort will take care of all legal and financial processing of this transaction. You are responsible for everything and this is an independent transaction.
Hopefully, this clarifies some of the information that’s out there on investing in timeshares and making money off of them. Yes, it can and is done routinely but that doesn’t mean everyone can make money off of it so understand that before you dive into this investment opportunity.
How to choose the right company to get me out of my timeshare
We know how stressful timeshare contracts can be. What once sounded like a dream resort package turned into a nightmare. When you don't know where to turn, look to PMG to relieve you of your timeshare burden. We pride ourselves on open, honest, and frequent communication with our clients.
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The timeshare industry has spent a tremendous amount of time and money to delay, confuse and deter you from canceling your timeshare contract. Your team of timeshare elimination experts act as your consumer advocate and will work tirelessly to free you from your timeshare contract, mortgage, and maintenance fee bill.Give it a try