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Timeshare Rental Vs. Timeshare Ownership

timeshare rental

December 21, 2018 – by Primo Management Group

timeshare rental

Should you buy a timeshare or are timeshare rentals a better bet?

If you’re thinking about a timeshare purchase, it makes sense to do your research and consider your options. Timeshare rental allows you to stay at the same resorts as ownership, but the sales rep is touting the benefits of buying. So what should you do? Read on to find out.

Costs of Timeshare Purchase vs. Timeshare Rental

In 2017, the average cost of a timeshare was $22,180, and average maintenance fees were $980 a year. Let’s consider costs over ten years for a deeded, fixed week timeshare. Purchase price plus maintenance fees would be $31,980. That assumes that maintenance fees don’t rise over time and you don’t encounter any special assessments. That breaks down to $3198 a week. That’s an expensive vacation before you even consider travel and entertainment expenses.

Of course, if there’s one thing that’s certain about maintenance fees, it’s that they go up. Plus, you have special assessments to consider. A special assessment is a one-time fee levied by your timeshare HOA to pay for upgrades of damages. These assessments are unpredictable, especially given that they may have to cover repairs to resorts located in hurricane-prone areas. Even if you don’t encounter a special assessment, your actual weekly cost will be higher than the $3198. 

So, what kind of timeshare rental can you get for $3000? A lot, as it turns out. Check out any timeshare rental forum, and you’ll find countless rentals available from the owner. You can also rent out the very units that are available for sale.

Benefits of Rental

Of course, if you own the timeshare for another ten years, your weekly rate would average $2089, which starts to look like a good value. So, why not buy? Well, first, it takes a long time to realize any value. In the meantime, your money is in the hands of the resort earning them money rather than in your hands earning you money. When you choose to rent, you keep your money longer.

Second, when you rent, you can go anywhere, visiting a new destination each year. Timeshare owners have no such flexibility. They are locked into their destination and their week unless they choose to participate in an exchange program for additional fees.

Finally, a timeshare contract requires the owner to pay no matter what. If financial circumstances change, owners have little or no flexibility on paying their fees. And if they can’t travel for a year or have a conflict with a date, they lose their time. Of course, they can always rent out their unit.

Timeshare rental offers far greater flexibility than ownership and comes with almost no liability. We think it’s a good option. However, if you’ve already bought a timeshare that no longer suits your needs, then we can help. Contact us today for a free consultation.

(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.