Timeshare Maintenance Fee

Most people who get involved with timeshare, whether they rent a timeshare, sell a timeshare or buy a timeshare, do not realize just how expensive timeshare ownership can get. You pay a substantial amount upfront and are told that you are buying your timeshare outright, completely. However, that is only where it begins as some timeshare owners find out a little too late that the additional charges that come along with it, namely the maintenance fees, often end up being even more expensive than the cost of the timeshare property itself.

One of the biggest money traps in regards to the timeshare trap are the maintenance fees. When you first sign up for a timeshare, one of the biggest benefits, and selling points for timeshare sellers, is the fact that it’s a home away from home that you do not have to take care of yourself. It’s fully furnished and you don’t even have to clean it. However, this is obviously not the case as all the other charges come into play. Basically, maintenance fees are the cost of operating, furnishing and cleaning the property the resort pays, spread out among all the owners. It also builds up an account to pay for costs that are not recurring, like kitchen appliances and televisions, that need to be replaced only periodically. These charges are established by the developer or homeowners association. If timeshare donations were common among the disposal methods these costly fees would be much simpler to get rid of but it is not easy to donate timeshare property.

Some timeshare owners are not even told about their maintenance charges, which can range anywhere from $200 to $1,000 annually, by the time they realize just how much it costs it is too late to perform a timeshare cancel. It may not appear to be all that much upon first viewing, but take for instance, a timeshare that costs $20,000 to purchase. A timeshare around that price usually has a timeshare maintenance fee of roughly $500. If you own your timeshare for say 30 years, then you are looking at about $15,000 dollars in timeshare maintenance fees, or $35,000 total for the timeshare. If you have a redweek timeshare, or a timeshare that is high in demand, you may be looking at even higher costs.

However, even that calculation does not cover the true cost. As mentioned some timeshare owners are not notified of their maintenance charges, but what’s worse, many are not told that they are increasing, usually they multiply by 1.5 each and every single year. Now the timeshare’s cost is considerably more than double after a span of 30 years. Additionally, there are other, random charges known as assessment fees that get passed down from the association board of directors. One example of a special assessment would be if a storm affected the property, then everyone would be charged a special one- time cleanup fee.

If you or anyone you know is struggling to make the payments on the ever-increasing maintenance fees on your timeshare, Timeshare Relief can help you get a timeshare transfer. Having helped over 50,000 families get out of timeshare troubles for the past six years by offering a perfect timeshare exit solution, to date, there has not been a single person who has made it through the screening process who has not been freed completely from their timeshare.

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