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What’s a Timeshare Board of Directors?

February 11, 2019 – by Primo Management Group

Wondering about your timeshare board of directors? Read on!

Your timeshare Board of Directors controls your resort. So, they have a lot of say in your vacation and your life. Find out who they are, what they do, and how all of this affects you.

How is the Timeshare Board of Directors Selected?

Every timeshare selects members in its own way. However, members are typically either appointed by the timeshare company or elected by members of the Homeowners Association. And often the board will have a combination of appointed and elected members.

Why Does the Selection Method Matter?

All BOD members should (and often do) have the best interests of the HOA members as their primary objective. However, appointed members may feel beholden to the person who appointed them. Elections give owners like you a say in the process and holds board members accountable to you. Additionally, board member who are also timeshare owners understand first-hand what needs to be done. If you’re considering a timeshare, one with at least some elected board members and some owner members is a good sign.

What is the Length of a Board Member Term?

Most BODs have a pre-determined term length. One-year and three-year terms are most common, but other arrangements are possible. In any case, set terms help ensure that if they don’t do their jobs well, they won’t be there forever.

What does My Timeshare Board of Directors Do?

Your BOD’s protects the best interests of the Homeowners Association members, which is composed of all owners. That’s a big job! Here are some of the ways they do that.

Timeshare Bylaws

Your timeshare Board of Directors writes, revises and updates your timeshare bylaws. These bylaws may also be called the Covenants, Conditions and Restrictions, or CC&Rs. By any name, they are the rules by which the BOD and HOA govern your timeshare. So, for example, the bylaws determine how members are selected and how long their terms last. They would also contain any other rules and policies. As an owner, you can and should obtain and read a copy of these bylaws. And it’s probably best to get them before you buy.

Oversight

The BOD is often in charge of oversight for the resort. However, these days, a management company handles most of the day to day operations like housekeeping, repairs, and administrative tasks. But the BOD and HOA selects and oversees that management company. They also make sure that the resort is financially healthy and complies with all applicable laws. And of course, they need to ensure that the resort continues to be a great place to vacation.

Budgeting

Most BODs create the budget for the resort. Of course, budgets of this size are very complex and vary a lot from timeshare to timeshare. Members consider the physical condition of the resort and other needs and define priorities. Regardless of the details, the budget has a direct effect on your maintenance fees and special assessments.

That’s a short overview of a timeshare board of directors. Of course, every timeshare is different. How do you feel about your Board of Directors? Join the conversation on our Facebook page!

(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.