Our Timeeshare company wants to build a water park at our resort and is applying a special assessment on top of the regular maintenace fees! Is that legal?
You’ll have to look over your timeshare contract to tell for sure as to the legality question.
That said, many timeshare companies do allow for special assessments to be billed to timeshare owners for a variety of upgrades and repairs. Maintenance fees do not cover special assessments in general. Some special assessments have been as high as $5000 this past year. But special assessments need to be paid to keep your account current with the timeshare company.
Try to contact your timeshare company and negotiate with them. that’s the best you can do.
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Holding on to it as a financial hardship. Can’t afford t o use it. WHen I wanted to rent my unit last year, the orgainzation never listed it for me.
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Our Timeeshare company wants to build a water park at our resort and is applying a special assessment on top of the regular maintenace fees! Is that legal?
Hello Rick,
You’ll have to look over your timeshare contract to tell for sure as to the legality question.
That said, many timeshare companies do allow for special assessments to be billed to timeshare owners for a variety of upgrades and repairs. Maintenance fees do not cover special assessments in general. Some special assessments have been as high as $5000 this past year. But special assessments need to be paid to keep your account current with the timeshare company.
Try to contact your timeshare company and negotiate with them. that’s the best you can do.
– Bobby