Here on the Timeshare Relief 360 Blog, we’ve written about how the poor economy has negatively affected the timeshare industry (Part 1 / Part 2). In addition to some incredible special assessment fees timeshare owners have received, they should also be set to see a significant jump in maintenance fees.
Because some current owners are now unable to pay their maintenance fees, timeshare resorts must raise fees for all owners to cover the difference. This certainly covers the resorts, but who takes care of the owners who are contractually obligated to pay? Not the timeshare. Do the owners get a benefit when the economy improves? It won’t happen. Will the owners be able to recoup some of the cost when equity grows in the resort? Most likely not. Do you think maintenance fees will decrease after the economic crisis is over?
Friends don’t let friends buy timeshares…
Filed under: Maintenance Fees, Timeshare Industry, Timeshare Relief | Tagged: timeshare default rates, timeshare owner | 1 Comment »
