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Will Coronavirus Knock Timeshares Out For Good?

Coronaivurs Timeshares

August 26, 2020 – by Primo Management Group

Coronaivurs Timeshares

As businesses do their best to recover from the coronavirus, there are some that may not recover from the impact of the virus. These businesses share a list of characteristics including no income during the pandemic, loss of loyal customers, continued expenses at the same time and challenges for recovering. The timeshare industry is a perfect example of this as many of their current clients have not been paying during the pandemic or even canceled their agreements. At the same time, there have not been any new signups for most of these resorts and things do not look to change in the short-term, or by the end of 2020. Finally, these resorts, while not making revenue, still have to pay for their property including taxes and insurance, utilities and a staff.

Some based on their size are able to handle the slow turnaround for the rest of the year but others may not be able to handle another five or more months of slow or non-existent revenue. The other thing to consider is the time for rebounding for these businesses. While airlines and hotels could rebound quickly once people begin to travel, the chances that the timeshare industry will do the same is low. Travelers, regardless of the deals available, will not be interested in agreeing to long-term deals that require them to invest thousands of dollars in hopes that the country has put Covid-19 behind them.

Even investors will be reluctant to sign up for lower than normal rates as they are not sure what availability they will have for renting out their properties throughout the year and also may not be interested in long-term commitments at this time. One thing timeshares may have to do over the next year is to rent out their units like hotels or an air-bnb. While this is not ideal for them, they may not have an alternative if they want to generate short-term revenue.

2020 has certainly challenged everyone and we are not sure how the year will end. The tourism industry has shown sparks of improving as coronavirus numbers go down and people finally seem to appreciate the facts about the virus and how to stay safe while also living a somewhat regular life. It’s hard to imagine a scenario where the tourism industry sees an immediate spark as a slow upward trend makes more sense. The timeshare industry will be one of the last to benefit from this trend and each company will have to determine how long it can hold out in the meantime until that happens.

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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.