Posts Tagged “timeshare”
Timeshares are great way of enjoying the vacation while owning the piece of property with a standard of quality, through which personal expectations are satisfied year after year with the certainty of good facilities with comfortable accommodation made available to the person owning it. The concept of timeshare enables the person to experience a quality holiday among the company of fellow owners like him.
When you purchase a vacation ownership, you are making an important commitment, not only in financial terms, but also in future holidays. Before you buy a timeshare, you have to be sure that the resort or club you are interested in will offer numerous satisfying vacations for many years and one that can develop as your lifestyle progresses.
On the whole, a timeshare is a property or the right to use a property, normally a resort or condominium unit, owned by multiple parties. The different kinds of timeshares are: deeded vs. right to use, fixed week ownership, floating, rotating, vacation clubs, and points programs.
Although many owners today are trying to get out of their timeshare contracts and have a negative perception about such vacationing option, it is no doubt that this industry have a significant on the society. It is important to note that the timeshare industry is multifaceted. Just like the lodging industry, the impacts are direct such as the money for construction, the actual purchase of the product, employment at the actual resort, and taxes; and indirect such as businesses needed to support the resort, employment opportunities created by the need, money spent at the businesses by vacation owners and guests, and the taxes on the money that is collected.
Do you find yourself with a lot of questions about vacation ownership? Such as, what exactly is vacation ownership, how does it work and why would anyone pay ahead for future vacations? Relax. It is much easier to understand that you might believe.
Vacation ownership provides buyers the opportunity to purchase fully furnished resort-style accommodations which are sold in a range of forms, including weekly intervals and point-based systems. With one initial purchase price, followed by yearly maintenance fees, buyers can purchase their very own vacation for a pre-determined number of years or, with no pre-set duration.
A completely novel concept of resort management was invented in the early 1960s. this idea in the resort industry sector curved the way for an increased gain in revenue and led to the revolution that followed later.
This novel idea motivated many other resorts all over the world and paved way for the US$ 9 billion yearly overall sales of today. Almost 5000 resorts worldwide have joined the bandwagon of timeshare industry from then. This new concept is timeshare. Developers of resorts now give their visitors to the resort owner, with a week’s time as opposed to the idea of guest with limitations and restrictions.
I hope you are not headed for your Webster, if not, then don’t even bother to consult Mr. Google because I’ll do it for you right here and now. So, let’s unleash it, Timeshare to the greatest of laymen amongst us, is defined as a portion of property shared or split among a number of owners, simple. At least we have an idea now, so we can proceed. This kind of property sharing involves among other things the cost of managing and maintaining the property or properties. Though large percentages of timeshare properties are condos, it shouldn’t be surprising if you discover motor home timeshare, hotel time share, cruise timeshare or even campground timeshare.
Are you stuck between a rock and a timeshare???
It is all too easy to fall into the timeshare trap. Getting out…well that’s another story all together. The cold hard truth is that timeshare developers intention is to “lock” in a consumer into an iron-clad contract that no owner can get out. The true litmus test? Call your resort developer and ask how much your unit sells for, then, turn right around and ask if they will simply take it back for free. Many are shocked to hear in the same breath that it is selling for about $12,000, but it is not their policy to take it back once you own one. NOT EVEN FOR FREE. The fact is that most of that $12,000 goes to marketing and advertising and commissions. Resort developers intention is to have the yearly maintenance fee coming in like clockwork. Average maintenance fees in the US are over $600. Sold 50 times ($600 per week/per unit)= $30,000 in recurring fees every year. For a resort with 1000 units = $30,000,000 in recurring yearly fees. That is why they don’t want to simply take it back for free. A timeshare is never free. It costs resort developers money to get it sold (quite a lot). On the other hand, it brings in money (quite a lot more) by simply selling it once and locking an owner in forever. Forever? Really? How is that? Read the article below for more info. Also the following site is a great resource as well: Why is this such a problem getting out of a timeshare? Below is an article from The NY Times that digs deep into the heart of the problem with timeshares.
Not through the re-sale companies, I spent thousands with them! No Not through the so called re-sale companies, after receiving dozens of phone calls I paid three separate companies a total of almost £3,000.00 and received only promises. I was told the timeshare was already sold and then miraculously the sale fell through and that is the last I heard of it, eventually I realised I had paid solely to be placed on a list.
To start with, old-timers of Timeshare owners know this most important rule: Never pay an up-front fee in an effort to sell your Timeshare! Either if the fee has been called in many terms such as: appraisal fee, market analysis fee, marketing fee, advertising fee or even new “fee” terms not been heard in the timeshare trading market, I tell you, all the results turned out historically bad ever since.
Mostly, these companies do it through cold-calls and that is one important tip that you must remember.
Far and away the most common questions received by Timeshare Consumer Group are related to getting rid of one’s timeshare. Most individuals describe stories of purchasing their vacation property on impulse and as a result of high pressure sales tactics. The buyers learn later that the timeshare wasn’t what they expected…especially in regards to rising maintenance fees and surprising “special assessment” fees. The buyers attempt to resell their timeshare through various means but all of them prove fruitless.