Are you concerned about timeshare complaints?
Timeshare complaints can be a concern for those that have or plan to invest in a timeshare. We offer you a piece of complete information about these issues.
If you are thinking about buying a timeshare but unsure whether it is the right choice for you, then it’s important to do your research.
Why do People Want to Avoid Owning a Timeshare Unit?
Of course, because of the complaints and timeshare complaints are a growing problem. According to Consumer Affairs, this industry has seen a 70% increase in complaints since 2010. Timeshare complaints are on the rise, and there are many factors contributing to this. People are not aware of the issues associated with timeshare before they purchase them. This leads to disappointment when they realize how much time is actually needed for maintenance and upkeep.
Most people believe that using a timeshare is an easy and affordable vacation option. However, many timeshare owners have complained that they are not aware of the hidden costs associated with these yearly vacations. These complaints usually stem from high maintenance fees and high exchange rates when trading their weeks. Unfortunately, most timeshares will continue to charge these fees as long as the owner continues to use the service. Many timeshare owners do not use their points or weeks at all.
With all of these problems facing timeshare owners, it is easy to see why people would want to avoid purchasing one at all costs. There are plenty of reasons why people want to avoid owning a timeshare unit.
Let’s dive into the Complaints;
Most Common Timeshare Complaints
Timeshare complaints are not uncommon, especially among people who have recently purchased timeshares. Timeshares are a type of fractional property ownership in which the owner is allotted exclusive use of an apartment for a set period of time per year. Timeshare salespeople make enticing promises to prospective buyers with the goal of ultimately selling them a share in timeshare development.
The most common complaints about timeshares involve:
Fixed Maintenance Fees are a Myth
The maintenance fees for timeshare properties are usually fixed, which is a complaint from timeshare owners. Actually, they aren’t! Some complain that their contract was signed with a commitment that fees would not increase during the term, but this is never the case.
With ever-increasing maintenance costs, there’s a chance that you’ll wind up spending more for your timeshare than you would for an all-inclusive vacation at the same location. There have also been allegations about ‘special evaluations’ being introduced in some timeshare complexes. According to reports, several resorts have them every five years, which result in an increase in maintenance rates for that year, often tripling them.
Resale guaranteed – That doesn’t mean it’ll happen
The majority of vacationers who use timeshares don’t really want to buy another one. Among the reasons why people do not own timeshares is the need to pay ongoing maintenance fees. It’s an unfortunate fact that many timeshare salespeople will make promises they can’t keep in order to sell more to consumers. It is common to hear that re-selling previously owned timeshares can help toward the cost of a new one.
Consumers may be informed that their old timeshare will be replaced with a new one and that they would no longer be responsible for the maintenance costs.
This is one of the most harmful timeshare complaints since it may have a very real and damaging financial impact on the consumer, who may be stuck with maintenance payments for two homes and no profit because the re-sale has not occurred.
Not Always a Wise Financial Investment
People usually complain that their timeshare was mis-sold during the presentation. It appears that the world was promised to me, but it wasn’t true. Timeshare sales pitches promise customers guaranteed rental income in exchange for their weeks. Because of this, customers often buy larger packages than they actually need or even buy things they cannot afford.
The dealers promise that the timeshare weeks would be promoted and rented through their own marketing programme, assuring an income, while in fact, the weeks are referred to an outside agency once customers have purchased their package. They will charge an advance fee to offer the home for rent, and unfortunately, the weeks are not always rented.
Final Thoughts
There are a lot of different problems that can come up when you’re considering a timeshare purchase. While some people have nothing but good things to say about their experience, others have horror stories they don’t want to ever repeat. To help you avoid being one of those people that regrets buying into a timeshare, make sure you know as much as possible before making your final decision. We’ve outlined the most common complaints our clients had here on this blog post for your convenience!
“Move to What Moves You”