Like we’ve covered in previous articles, timeshare assessments can be extremely gut-punching to most fractional owners. The unexpected fees are never convenient and rarely less than a few thousands dollars. For those that don’t understand the perpetuity of timeshare agreements, just know that buyers are basically at the mercy of the resort. They don’t really have a choice but to pay large amounts of money for vague expenses.
On top of contractual obligations, lawmakers haven’t been too keen on helping out the timeshare consumer. While sales regulations have most certainly improved, post purchase scenarios haven’t exactly been addressed. You see, most problems with ownership stem from clarity and a lack of disclosure. In fact, many of our clients tell us they would have never made the purchase if they knew what it actually entailed.
Devastating financial blows, like special assessments, can really leave fractional owners reeling. At the end of the day, this partly due to the laws in place that limit the consumer’s ability to challenge unexpected costs. So today, we wanted to highlight a Florida bill from 2015 that enabled resorts to charge more for assessment costs while limiting the buyer’s ability to get out of timeshare contracts in regards.
Hawaiian Timeshare Entity Donated $29K to Local NonProfits.
Ever since we started publishing news articles a few years ago, positive timeshare stories have been few and far between. While there are a few good wins for timeshare owners here and there, we can’t help but notice that there just isn’t much good news to report on in the industry.
December 23, 2020
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