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Vacation Ownership: Timeshares In Disguise

Vacation Ownership

December 28, 2018 – by Primo Management Group

Vacation Ownership

Don’t let the words “vacation ownership” fool you: it’s still a timeshare.

Let’s face it. The timeshare industry has a reputation for high-pressure sales tactics, misleading claims, and flat-out fraud. So, many consumers have learned to just say no. And in response, the timeshare industry has rebranded timeshares as vacation ownerships, vacation clubs, and more. If you’re afraid of a timeshare but are considering vacation ownership, you’re about to fall into the timeshare trap. Here’s what you need to know.

Vacation Ownership

Vacation ownership is the euphemism the vacation industry uses to describe all types of timeshares, vacation clubs, and other products. Sounds nice, doesn’t it? It kind of makes you think of owning a vacation home. Unfortunately, it’s not at all like owning a vacation home. And in some types of vacation ownership, you don’t own anything at all. So, what types of vacation ownership are out there?

Deeded

Deeded ownership is what most people think of when they think of timeshares. You purchase the deed to a specific unit at a specific resort for a specific week each year. Each unit typically has 52 owners, one for each week of the year. These contracts are typically in perpetuity. That means they last forever and can be passed onto your heirs. And of course, deeded timeshares come with annual maintenance fees whether you stay there or not.

Right to Use

Right to Use (RTU) timeshares are like deeded timeshares in that they are tied to a specific unit for a specific week. However, in this scenario, the resort retains the deed itself and you only purchase the right to use the property during your week. RTU timeshares are common outside of the US in countries that prohibit foreigners from owning property. RTU contracts often have a specific term and at the end, the property goes back to the developer. And once again, RTU owners must pay maintenance fees.

Points Based

Points based vacation ownership is becoming more and more popular. This type of timeshare gives the owner a set number of points that can be used for vacations. Points based timeshare owners usually have a home resort but can use their points at any resort in the company. This type of timeshare is more flexible than a deeded timeshare. You can stay at a variety of resorts any time of the year. However, you have no guarantees about availability. And as you might have guessed, there are maintenance fees to pay, based on your home resort.

Vacation Club

Vacation clubs are the latest innovation in vacation “ownership.” Unfortunately, you don’t own anything as a member of a vacation club. Instead, you buy the right to make reservations for a variety of vacations at special rates. Click here for more on vacation clubs. Typically, you don’t pay maintenance fees on vacation clubs. But there are certainly other fees to pay.

No matter what they call it, vacation ownership comes with the same problems associated with timeshare ownership. These include constantly rising maintenance fees, binding contracts, and plummeting value. If you’re stuck in a vacation ownership that no longer works for you, give us a call for a free consultation. No matter what they call it, we are happy to help you get out.

(Image Source: Andrew Ruiz on Unsplash)

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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.