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.
Primo Management Group | 7200 Lake Ellenor Drive, Suite 201 and 202 Orlando, FL 32809 | (407) 627-1179
Vacation isn’t cheap.
Everybody knows that a decent vacation requires a little extra dough. In south Florida, for example, average daily travel costs can peak at over 150 dollars per person .
Timeshares seem like the perfect cure to this dilemma. You pay for an allotment of time–usually one week–on a vacation property, while other buyers pay for the rest of the year.
Does it seem too good to be true? Well, it might be. Depending on your situation, a true timeshare cost can be higher than it first seems.
Here’s what you need to know.
The Timeshare Pitch
In certain situations for certain people, a timeshare can be a decent investment.
There are several ways it could work. You could buy a slab of land in a nice place with a big group, co-owning with the group. Or, you could come to an agreement to rent a certain amount of land, while an owner still maintains rights to the plot.
No matter the situation, you’ll generally end up spending one week a year on the property. Hypothetically, the flat rate you pay for several years of vacation time will be cheaper than renting hotel rooms year-in, year-out.
The American Timeshare Craze
Timeshares are big in the US–so big, in fact, that over nine million households also owned a timeshare in 2014. The timeshare momentum has only grown in recent years. You might have heard from your friends, or friends of friends, that a timeshare is a great deal for you.
The timeshare hype has started to dominate the conversation about vacation rentals. If you feel swept up in it, take a step back.
When you look at the whole picture, you’ll see that a true timeshare cost is more than initially meets the eye.
So…What’s the Price?
The initial costs of a timeshare follow a simple formula: payment to rent the property plus a yearly maintenance fee.
Depending on the state, that can mean anywhere from a total of 600 dollars a year to several thousand. On paper, it’s a sensible, affordable way to finance a vacation home.
But reality doesn’t always follow the script. On the one hand, there are scammers out and about . In the great rush of timeshare prospectors, consumers are often pressed to find the best deal they can.
Scammers will promise everything in vague answers to your questions while hiding the ugly truth about their property. You’ll end up stuck in a bad location with limited options.
But even if everything is legally above board, you still could end up with more costs than you bargained for.
The True Cost of Staying Clean
Let’s return to those maintenance fees. You’ll likely start with a flat maintenance fee that holds steady for a few years. But, it’s well within the owner’s right to increase the cleaning fee.
One year, they could raise the cleaning fee by twenty percent. Then they might do it again the next year. And even the next year.
Soon enough, you’ll end up paying double the cleaning fee you signed up for. That hidden cost destroys the “cheap” narrative surrounding timeshares.
And that’s only hidden financial costs.
The Intangible Timeshare Cost
When you initially make a list of timeshare pros and cons , you’ll likely mostly focus on the financial aspects of the deal.
The amount of money you spend on vacation is an important part of the equation. But, it’s not everything you need to think about.
But you should think about the downsides of having a timeshare. First focus on the location of your property.
You might really want to go to a beach house in Florida now. You might even want to go to the same place for a few years. But, after a few trips, any location will lose its appeal.
The Risk of Boredom
You’ll be locked into the same week every year, never seeing the setting in another season. The size of your group will need to stay the same, too.
Will going to the same property in the same location at the same time of year really always appeal to you? Repetition is the antidote to excitement. You’ll start feeling a need to spend your time there, not a desire to.
All of a sudden, your timeshare investment will feel more like a burden than a blessing.
How Does Leaving a Timeshare Work?
If you’ve been considering buying a timeshare, it might be best to just say no . If you’re in the unfortunate position of trying to leave your timeshare, you could feel a squeeze.
The first hurdle to overcome, at least psychologically, is the price you can sell for. Let’s say your initial timeshare cost was five thousand dollars.
In a perfect world, the property value would only increase over time, right? Unfortunately, that’s not how it works with timeshares. The market is over flooded with timeshare sellers, which means the value of current timeshares only drops, usually.
Without the advice of knowledgeable timeshare experts, you’ll end up selling that five thousand dollar property for four thousand, if not less.
Don’t Lawyer up
That’s not to mention the sticky legal work that might need doing if you try to sell your timeshare. You’re involved with a big group, not just you–you need to consider the interests of the other timeshare members before selling your share. Plus, the IRS is very stingy in its treatment of timeshare sellers, regardless of the price.
If that sticky mess seems overwhelming, don’t worry. With the right guidance of experts, you’ll be able to navigate your questions with relative ease.
Consider a Change
If you don’t have a timeshare but are considering purchasing one, think it over. While the shiny benefits seem obvious at first, there’s more to the whole story.
You might already know this if you’re an owner. The hidden timeshare costs can creep up on owners after just a few years, if not months.
Interested in this opportunity to take a load off your shoulders? If you are, we have you covered.
Reach out to us and we can give you the help you need. You’re already closer to better vacations and less stress.
Why not go for it?
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.