Will The Election Impact Timeshare Companies & Owners?
3 min read
Election season is here and everyone has voiced their opinions in what is the most contested and important election in years. While the presidential election is at the top of the list and dominating headlines, state races are also very important, especially if you own a timeshare in a state where there could be a shift in power. To be clear, it’s not like there will be a new senator or governor and now your timeshare will be gone. Nothing that drastic will happen but there are some things you have to be aware of if there is a shift in power.
The first thing will be how that state is handling coronavirus precautions. If the state is seeing higher numbers than the rest of the national average, a change in leaders may come with limitations on travel as people from out of the area may have limited access. Regardless of what your feelings are on the matter, if the numbers are spiking the first thing that area may do is require restrictions on out of town visitors.
Another thing to consider is would be the taxes for that area. If property taxes and insurance go up, you will have to take on that financial responsibility. If taxes go down, you may not see benefits from it as far as savings and you could also be charged higher as a tourist for things like owning property in a state you are not a resident of. Again, this isn’t based on anything that has or will happen officially, but it’s good to understand these possible changes and how they could impact your travel plans and budget.
Finally, you also want to get an idea if the new or current leadership group is going to allow certain events or seasons to go forward as hoped. Many timeshare owners buy at a certain time of year so that they can visit or rent out their property and enjoy certain events in that area. Any restrictions or cancellations or those events could lead to you being unable to rent out your property at that time. You also want to look to see if there are changes made that protect out of state investors and allow you the opportunity to get out of your timeshare deal faster.
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