• July
    16
    2020
  • 3 min read

Timeshares Desperation During Coronavirus Is Costing You Money

timeshare coronavirus

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While thousands of businesses are struggling and seeing lower sales numbers related to the coronavirus pandemic, timeshare businesses have found a unique way to make it through the restrictions in travel. Keep billing their tenants. That’s right, rather than just giving their clients a break on the billing, many of these resorts are still expecting payments for mortgages and monthly fees. In some cases, residents cannot even get to the area of their resort because of travel restrictions for non-residents. That doesn’t seem to bother these companies as many of them are operating as if business is usual. Ironically, many are also getting government assistance for their loss of revenue during this time as well.

Doesn’t seem fair, does it? If you follow the stock market or basic economic news, you’ve learned two things, losing money can cause businesses to take drastic measures, and the possibility of losing money can causes businesses to take even crazier measures. The stock market can go down 10% or more in a day, why? Because there’s a fear that businesses won’t make as much money next year. That’s right, it’s not because businesses are losing money, but because they might lose money. Companies that are actually thriving during the pandemic are still not immune to a drastic dip here or there in their stock prices because of the perception of value or the economy in its entirety and this has experts scratching their heads as they really don’t know what to believe in right now.

This desperation has played into the hands of many timeshare companies as they are able to cut costs, get outside assistance, continue to charge their clients and act like they are the ones who are hurting from this current situation. It’s very frustrating and something that many resort owners are angry about. To be fair, there are several resorts that have stood up and said they will not bill their clients if these restrictions continue or have eased their requirements on payments and dates for visitation. Those resorts are doing the right thing and know that they need to take care of their clients during this time.

If you are with one of those resorts, then that’s a good thing. However, if you are not, and you are tired of paying for something you cannot even use because of the coronavirus, then contact us today for further assistance and information.

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