Our headquarters are located in Central Florida. PMG works tirelessly helping timeshare owners across the US. We are consumer advocates with 5 star reviews online, and an ‘A’ rating from the BCA.
Aging is an undeniable fact of life, even for timeshares! That’s why some contracts contain a timeshare sunset clause. What is a timeshare sunset clause and what are the other dangers with aging timeshare resorts?
This is a so-called self-destruct provision in the timeshare contract that specifies a date in the future for the timeshare agreements to effectively end. Every timeshare and every contract is different, but most sunset clauses allow for the Homeowners Association (HOA) to vote on how to proceed. So, what happens next depends on the HOA.
If the resort is in good repair, the finances are healthy, and the owners are happy and paying, they may decide to continue to operate as before. In some cases, the Board of Directors may elect to repeal and replace the Sunset Clause, pushing the date into the future. But the resort would stay open and you would continue to pay your fees and hopefully enjoy your timeshare. And if you’re one of those happy owners, then that’s good news for you. However, if you were counting on the sunset clause as your exit strategy, you’ll be disappointed.
But what if the HOA doesn’t vote to continue to operate? This can happen for two reasons. First, low voter turnout may mean that the measure simply doesn’t get enough votes. Many clauses require 51% of owners to vote in favor of continuing. Or they do get 51%, but that 51% votes no. This is a serious problem. In this case, the timeshare agreements are terminated. However, you may still be an owner in common along with all of the other owners. Needless to say, this is uncharted territory. And it’s legally very complex.
Even though your timeshare contract seems to last forever, your resort might not. Even if the sunset clause isn’t looming, or in the absence of such a clause, resorts can age and fail. Here are some of the reasons a resort might fail.
All resorts need repair and upkeep, but even with proper maintenance, no resort can continue without serious upgrades from time to time. And some “legacy” resorts are due for serious upgrades. Of course, this costs money. In the case of older resorts, the money might not be there. Perhaps maintenance fees have been too low. Or perhaps owners have died or foreclosed over time, so there’s no longer a large enough population to pay their maintenance fees. And sometimes the repairs are just too expensive.
Who doesn’t love a great beach vacation? That’s why so many timeshares are located on the water. Of course, this puts them squarely in the path of severe weather and other natural disasters. When tropical storms and hurricanes make landfall, timeshare resorts are often in harm’s way. If your resort is owned by a big corporation, they may choose to rebuild. But smaller resorts may not have the resources for such a project.
And sometimes resorts just run out of money. This can be due to mismanagement by the Board of Directors or the contractor. Or it can be the result of high levels of foreclosure or non-payment of fees. But just like any other business, timeshares sometimes fail.
When a resort fails, the owners face consequences. In a best-case scenario, the owners could recoup their investment and be on their way. Or if the resort is part of a larger corporation, owners may be offered ownership at another company resort. But most commonly, the timeshare agreement is dissolved and the owners don’t get anything.
Of course, if you’re stuck in an unwanted timeshare, the failure of your resort might be welcome news. However, if you’re stuck in a timeshare that no longer meets your needs with no end in sight, contact us for help getting out. We specialize in helping people like you get out of their timeshares. Guaranteed.
(Image by Dũng Hoàng Trí from Pixabay)
Relieve Yourself of the Unwanted Timeshare Burden
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.
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.
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.
Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.
Yes! Permanently! GUARANTEED!
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.
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.
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.
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.
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.
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.
Our headquarters are located in Central Florida. PMG works tirelessly helping timeshare owners across the US. We are consumer advocates with 5 star reviews online, and an ‘A’ rating from the BCA.