Timeshare News is an up-to-date news source that covers the latest developments in the world of timeshare. It contains information from industry experts as well as timeshare consumers, resorts and lenders.
Timeshare is an incredibly popular holiday ownership product that has been around for decades, but it has grown in popularity in recent years. Nearly 10m households in the US now own a timeshare, which is a type of property ownership that allows owners to book vacations at a specific location for a fixed number of days or weeks at a set rate.
But these timeshares are not always what they seem and the term can be a misnomer for many different types of properties that fall under the category of timeshare. Some are referred to as vacation clubs or resort ownership plans but they are still timeshares, even if they look like other types of property.
Often, timeshares are sold on a package deal, which means that the owner pays an up-front fee for a set number of weeks at a resort, or a percentage of their stay. This up-front payment allows the buyer to beat travel inflation and save on flights, hotels and gas costs.
Unfortunately, this method of ownership comes with some pretty big pitfalls. One of the major problems is that the underlying contracts can be very complex and difficult to get out of, which can leave a lot of people feeling like they have lost money on their investment.
In addition to the complexities of these contracts, the owners are also exposed to all kinds of additional fees and obligations that can be a burden. They may have to pay a large amount of money in a one-time fee to the company that manages the property or they might be subjected to a long list of fines and taxes for using their timeshare.
These fines and taxes can be a serious problem for timeshare owners, especially when they are in high-taxed states. These fines can add up to thousands of dollars, and if you are not able to pay them all in one lump sum, they could become very costly over the course of the year.
This is why it is so important to be aware of the risks and to make sure that you are doing your research before you purchase a timeshare. There are a number of ways to avoid timeshare scams, including by reading the fine print of your contract.
Another good source of timeshare news is the American Resort Development Association (ARDA) and its affiliate organization, the American Resort Development Advisory Council (ARDA-ROC). These organizations represent hundreds of thousands of timeshare owners who have joined together to speak up for their interests and defend their rights to use their timeshares. They have been active in working with federal, state and local governments to help ensure that legislation is passed that protects timeshare owners and the industry at large.