If A Timeshare Goes Under, What Does That Mean For You?
Timeshare Agreements, Timeshare Impact on Credit Score
3 min read
This election is shaping up to be the most contested and important one in years. Everything from the presidency to local government may shift and with politicians further apart on issues than in recent memory, the results of the election will heavily impact our way of life for decades. While your timeshare may not be on your mind when you talk politics, watch the news, read articles and listen to candidates campaign for your vote, this election could impact your situation and that’s something you need to take into consideration when you head to the polls or fill out your ballot and mail it in from your home.
Potential Impact On Timeshares
Depending on the state, there could be an impact on the taxes these properties have to pay based on their revenue, location and more. If the taxes will go up, you can expect that you will have to help pay the difference and if the taxes are lowered, don’t expect any discounts.
Potential Impact On Timeshare Owners
Some states may get tougher on the agreement’s timeshares are allowed to sign people to, depending on current practices. States like Florida, Nevada, Texas and Arizona are seeing more people move there each day despite the pandemic. For that reason, local governments may want to protect the new residents from real estate scams. While people moving to a state are not going to look at timeshares, local governments may put restrictions on renting and sub-leasing to protect renters and those rules could apply to resorts as well.
It’s important to research the information if you currently own a resort. Remember, the information may not be cut and dry so you’ll have to do a little more digging to ensure that you’re getting the right information to base your decisions on. Taxes in states where you have a resort could go up and that would cost you more money, especially if you are not a resident of that state.
A great way to research information and see if it will impact you is to focus on trends and amendments that will impact real estate and tourism in those areas. Don’t forget to look at local races and state policies, not just federal. Even if you cannot vote in that area or on these options, it’s good to have an idea of what to expect and what the impact of the election may be for you as you continue to pay monthly for your property and potentially look for ways out of the deal.
How to choose the right company to get me out of my timeshare
We know how stressful timeshare contracts can be. What once sounded like a dream resort package turned into a nightmare. When you don’t know where to turn, look to PMG to relieve you of your timeshare burden. We pride ourselves on open, honest, and frequent communication with our clients.Free Download
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Our knowledge and experience gets you OUT. We offer a high-touch, boutique level of service, keeping you informed with frequent updates throughout the process—which is why we have numerous 5-star reviews and are rated “A” (Excellent) by the Business Consumer Alliance (BCA).Learn More
Still not sure what’s the next step? Our dedicated team can review your agreement and guide you through the process. The Primo difference is all about service. Our timeshare elimination consultants have one mission: To serve our clients and bring the peace of mind that comes from relieving their timeshare obligation.Get Started
The timeshare industry has spent a tremendous amount of time and money to delay, confuse and deter you from canceling your timeshare contract. Your team of timeshare elimination experts act as your consumer advocate and will work tirelessly to free you from your timeshare contract, mortgage, and maintenance fee bill.Give it a try