Timeshare Maintenance Fees Explained

Timeshare Relief hammerThe idea of maintenance fees makes sense.  They are mandatory fees that the resort management company or homeowners association charges its owners for the upkeep of the timeshare property.  These fees are usually defined as covering property taxes, utilities, insurance, and any other maintenance expenses.  But, they also need to meet the needs of future expenses like office furniture and appliances.

The amount of the fee varies widely.  Some fees are as little as a few hundred dollars a year, while others are several thousand.

Maintenance fees are generally levied on annual basis, however certain resorts may levy them monthly or biennially.   What you may not be told is the extent to which the annual maintenance fee will increase over the years.  What may be affordable now may not be with double-digital percentage increase every year.  And for new resorts, what you may not realize is that when a developer is in control, maintenance fees may be temporarily subsidized by the developer as a marketing tool while there is sales activity. After the homeowner association takes over, fees may quickly rise to unsubsidized levels.

However – this is the big problem:  timeshare operators also may force owners to pay unexpected but obligatory special assessment fees.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: