Primo Management Group | 7200 Lake Ellenor Drive, Suite 201 and 202 Orlando, FL 32809 | (407) 627-1179

Free Consultation Click to Call

Timeshare Trouble In Paradise

timeshare trouble

March 1, 2019 – by Primo Management Group

timeshare trouble

Timeshare trouble can ruin your vacation, so watch out!

People have been getting into timeshare trouble almost since the beginning of timeshares. Let’s take a look at some possible pitfalls so you can avoid them.

Timeshare History

Timeshares originated in the 1970s in Hawaii. In the beginning, most timeshares were deeded timeshares. With a deeded timeshare, the owner owns the deed to a specific property for one week, or interval, each year. In addition to the purchase price, owners pay annual maintenance fees to cover basic upkeep, repairs, and housekeeping as well as occasional special assessments to cover major upgrades, repairs, or budget shortfalls. A deeded timeshare typically comes with a contract in perpetuity, meaning it lasts forever and can be passed on to your heirs. These timeshares solved two problems: they made money for developers and they allowed people to buy vacation properties who could not otherwise afford it.

However, developers still wanted more revenue and as the marketplace changed, buyers wanted more flexibility. So, the resort industry introduced many other timeshare models. These include floating week timeshares, right to use timeshares, points-based timeshares, vacation clubs, and more. Some of these products have shorter contract terms—the most common is 20 years—and not all can be passed along to heirs. Of course, all come with maintenance fees and special assessments.

So, what’s not to love? The industry adapted to meet the needs of the consumer, providing all kinds of products to make everybody happy. Sounds like a win, right? Unfortunately, for many timeshare owners, these solutions have brought even more problems.

Types of Timeshare Trouble

Never-ending Contracts

Most timeshare contracts last between 20 years and forever. If you don’t think about the long haul, you could find yourself in timeshare trouble. Do you really want to go to this resort, this year, for the rest of your life? If you don’t, unfortunately, you’re stuck. What happens if your finances change? Will you still be able to afford the maintenance fees? What if the timeshare itself changes over time? Properties age and if they’re not well-maintained or if the company changes hands, will it still suit you? Long contracts can lock you in for the long haul, even if you want to escape. Carefully consider the problems with long contracts before you sign.

Complex Reservation Systems

If you buy into points-based timeshare or vacation club, be ready to learn the ins and outs of travel hacking and online databases. If you aren’t tech savvy, you may have difficulty figuring out how to search for properties and dates or make your reservations once you find what you’re looking for. Plus, some systems add on fees at every turn. Don’t be surprised to pay a fee to join the exchange, a fee to make the reservation, a fee to talk to a person, or a fee to upgrade. If you’d rather spend your time on vacation instead of planning your vacation, a timeshare that requires you to make reservations might not be your best choice.

Converting to Points

Sometimes resorts convert from deeded timeshares to points-based timeshares. And when they do, they encourage owners to convert, too. After all, deeded timeshares can only have as many owners as they have intervals. A resort can sell far more points-based timeshares. However, points-based timeshares aren’t always as good as deeded. If you have a great interval that works for you, you may not be able to reserve that interval after you convert to points. Plus, the value of points could change at any time. If the value of your points doesn’t keep pace with the cost of a stay, you’ll find yourself paying even more to stay in the same unit. Avoid the problem entirely and don’t convert to points!

Adding Children to the Deed

You can pass some kinds of timeshares along to your heirs. But what if they don’t want them? In that case, they can refuse the inheritance. That is, unless you have added them to the deed. If they are on the deed, then they are on the hook for your timeshare, whether they want it or not. Sometimes timeshare companies will offer to add your children to the deed as a “convenience.” And that’s where people get into timeshare trouble. So, keep your kids off the deed and let them make their own timeshare decisions.

If you’re gotten into timeshare trouble and need a hand, we’re here to help! Contact us for a free, no-risk consultation today!

(Image Source: Pixabay, Digital Marketing: Transparent Marketing Solutions)

Tags:

Get A Free Consultation

Relieve Yourself of the Unwanted Timeshare Burden

Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Get A Free Consultation

Relieve Yourself of the Unwanted Timeshare Burden

Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

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. Let us help you. 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, the resorts are loath to give back the money they’ve already taken for timeshares.

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 go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. 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 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 will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are 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.