Timeshare Cure | Do You Have One?

There are two types of timeshare owners, those that love their timeshare and those that for one reason or another want to get out of their timeshare. The people that need to get out of their timeshare are already looking for a timeshare cure. However, many owners who love everything about their timeshare are not lifting so much as finger to try and find a cure for their timeshare. And while they have little to no reason for finding a timeshare cure right now, there is no telling what will happen in the future to cause them to need a way out.

So whether or not you are looking to get rid of your timeshare right now it is important to have a timeshare cure in mind and ready to go. Because timeshare contracts are usually very long term if not perpetual it is important to have a plan. If something happens to cause your timeshare to become a serious financial burden you do not want to be clueless about how to get out.

Let’s face it, unexpected changes in life should be expected. And these changes can occur without any input from you at all. If your resort happens to increase your maintenance fees, or something were to happen to your timeshare unit that causes a large special assessment to be charged at your expense, you will not have a plan to get out. That is why you should prepare for when your timeshare ownership turns into a financial disease. Knowing what type of timeshare cure you will use is necessary.

Even the most satisfied timeshare owner has the potential to catch a timeshare disease. There are simply too many aspects of your timeshare ownership that are under complete control of the resort. Because it is so difficult right now to actually sell a used timeshare you should consider different options for getting out of your contract in case of an emergency.

Timeshare Relief for Hotel Bookers

The revenue reports for the first half of 2010 have come in for the hotel industry. While this does no reflect the revenue for the timeshare industry the two markets are very closely related. However, this could be bad news for timeshares. As hotels are a major alternative to timeshare properties this could mean that people have had enough of dealing with the timeshare industry. There are many restrictions that come along with timeshare ownership. These limits may be why vacationers are choosing to use hotels for their travel lodgings. The flexibility that comes with booking a hotel room for your specific vacation days could be the driving force behind this increased revenue report.

The problem with owning a timeshare has always been here, but only recently has it become such a concern to owners. During these economically uncertain times it is important to be as frugal as possible when it comes to spending. Not only does this provide a reason for timeshare owners to be dissatisfied with their timeshare weeks, but it has also led to a large number of fraudulent companies that will attempt to take advantage of timeshare owners.  There are services such as Timeshare Relief that provide a legitimate and sure fire way to get out of an unwanted timeshare contract. With the help of Timeshare Relief you can start enjoying your vacations at whatever location you decide to do so at.

Timeshare Ownership: A Luxury or Worry

Timeshares have been around since the 1960’s and it has continuously grown as a lucrative industry generating billions of dollars per year. Sounds like a great investment, right? Truth is that while developers are reaching greater heights towards financial freedom, timeshare owners are sinking in and drowning themselves in a financial pit where hefty maintenance fees and special assessment fees are constantly filling up. Not to mention the interests rates and property taxes that are included. Special assessment fees alone can cost you thousand of dollars and maintenance fees are increasing each year. If you are a timeshare owner, I bet you’ll go crazy as you come face to face with these bills. It’s about time for you to seek timeshare relief.

Timeshare Operator Files Chapter 11

The Las Vegas Sun reports that ILX Resorts Inc., a timeshare operator with inventory at the Carriage House Hotel in Las Vegas, filed for Chapter 11 bankruptcy protection Monday after talks collapsed with a key lender over extending a loan.

The whole timeshare industry has been hit hard with declining sales due to the double-whammy economic situation where consumers are holding onto cash reserves and at the same time unable to find financing sources.  Prepare for more bankruptcies in the industry.  What it means for timeshare owners remains to be seen.

Generational Timeshare Ownership

One of the benefits touted by timeshare salespeople is the generational ownership aspect of timeshares:

“You can will it to your children so they can continue to make fond memories at your favorite vacation spot.”

Go ahead and pass on the timeshare.  It’s a keepsake.  Your children can say “it’s been in our family for years” like an heirloom or beloved pet.

What’s not said…

  • The maintenance fees will increase – Your children will be paying a significantly higher MF than you ever did.
  • The resort will decline in quality – You may have enjoyed the resort in its heyday, but your children will probably see it during its decay.
  • Your children will inherit a contract that will require that they pay the maintenance fees regardless of whether they want the timeshare or not.  You will be passing on a financial burden.

The best gift will be to be rid of the timeshare and allow your children to make their own financial and vacationing decisions.

Timeshares Can Depreciate Down To Zero Value

We all know that when you drive a new car off the lot, it immediately loses value.  For timeshares, the second you sign that contract in the timeshare sales office, it’s like driving a few cars off the lot at one time.  All timeshares lose 40 to 75 of their value instantly when purchased with a timeshare salesperson.  Why?  The timeshare salesperson and the company that sold it needs their cut.

Plus, the timeshare becomes an asset to timeshare resort.  They’ll be paid every year through maintenance fees and can issue special assessments to the now timeshare owner.  So the value is for the resort, not the owner.

Over time, the resorts have little incentive to maintain upkeep and upgrade.  The property is generating revenue through the fees that are guaranteed by contract.  The excess revenue can then be leveraged into building new resorts for higher maintenance fees and new unsuspecting timeshare owners.

Want to Really Enjoy a Timeshare? Consider Renting or Joining a Vacation Club

When you decide to buy a timeshare you are not simply paying in advance for future vacations you will inevitably take. Buying a timeshare locks you into a contract that is costly and inflexible should your travel plans change over the years.

So before diving into timeshare ownership it is worth taking a look at the other, less expensive and more flexible, vacation options available. There are so many great ways to enjoy a luxurious vacation without having to pay luxury prices.

Renting is the best way to enjoy all of the amenities of a timeshare. Instead of ownership where you are paying a high upfront cost, rising annual maintenance fees and special assessments for a timeshare that you may not use as often as you like (or hardly ever), renting a timeshare is like paying for a hotel room; requiring only that you pay for the accommodation when you use it. You can search a vast inventory of rental timeshares online.

For even more value when planning a vacation, consider joining a vacation club. One club in particular offers especially good value to members and allows membership to be canceled anytime without penalty. Carefree Journeys members can enjoy the flexibility of a staying in a timeshare when they want without the financial commitment tied to resort ownership. Reservations made through many vacation clubs can be done over the phone or through the clubs’ website. Carefree Journeys offers each member a personal vacation concierge to take care of everything from booking flights, renting cars, hotels or luxury resort accommodations, to making reservations at your favorite restaurant.

Whether you choose to rent a timeshare or join a vacation club you are inevitably going to get so much more value for your money than if you had committed to a timeshare contract.